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|                                               |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                                     | **EXHIBIT 12(b)**                                                                   |            |
|-----------------------------------------------|------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|------------|
|                                               |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                                     | ** **                                                                          |            |
| **CLECO POWER LLC**                           |
| **COMPUTATION OF  EARNINGS TO FIXED CHARGES** |
| **(UNAUDITED)**                               |
|                                               |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                                     |                                                                                     |            |
|                                               |                                                                                                | **For the**                                                                                    |                                                                                     | **For the**                                                                         |                                                                                     | **For the**                                                                         |            |
|                                               |                                                                                                | ** three**                                                                                |                                                                                     | **nine**                                                                            |                                                                                     | ** twelve**                                                                    |            |
|                                               |                                                                                                | ** months ended**                                                                         |                                                                                     | **months ended**                                                                    |                                                                                     | ** months ended**                                                              |            |
|                                               |                                                                                                | **September 30, 2003**                                                                         |                                                                                     |
|                                               |                                                                                                | (Thousands, except  ratios)                                                                    |                                                                                     |
|                                               |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                                     |                                                                                     |            |
| Earnings from  operations                     | **$           13,909 **            | ** **                                                                                     | **$           45,100 ** | ** **                                                                          | **$           55,476 ** | ** **                                                                          |
| Income taxes                                  | **8,353 **                                                                                | ** **                                                                                     | **24,262 **                                                                    | ** **                                                                          | **29,483 **                                                                    | ** **                                                                          |
|                                               |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** ** |
| Earnings from  operations before income taxes | **$           22,262 **            | ** **                                                                                     | **$           69,362 ** | ** **                                                                          | **$           84,959 ** | ** **                                                                          |
|                                               |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** ** |
| Fixed charges:                                | ** **                                                                                     | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** **                                                                          |
|                                               | Interest, long-term  debt                                                                      | **$             6,673 ** | ** **                                                                          | **$           19,165 ** | ** **                                                                          | **$           25,198 ** | ** ** |
|                                               | Interest, other  (including interest on short-term debt)                                       | **223 **                                                                                  | ** **                                                                          | **1,768 **                                                                     | ** **                                                                          | **3,895 **                                                                     | ** ** |
|                                               | Amortization of debt  expense, premium, net                                                    | **444 **                                                                                  | ** **                                                                          | **1,086 **                                                                     | ** **                                                                          | **1,334 **                                                                     | ** ** |
|                                               | Portion of rentals  representative of an interest factor                                       | **111 **                                                                                  | ** **                                                                          | **388 **                                                                       | ** **                                                                          | **504 **                                                                       | ** ** |
|                                               |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** ** |
| Total fixed charges                           | **$             7,451 ** | ** **                                                                                     | **$           22,407 ** | ** **                                                                          | **$           30,931 ** | ** **                                                                          |
|                                               |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** ** |
| Earnings from  operations before income taxes |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** **                                                                          |
|                                               | and fixed charges                                                                              | **$           29,713 **            | ** **                                                                          | **$           91,769 ** | ** **                                                                          | **$         115,890 **            | ** ** |
|                                               |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** **                                                                          | ** ** |
| Ratio of earnings to  fixed charges           | **3.99 **                                                                                 | **x**                                                                                          | **4.10 **                                                                      | **x**                                                                               | **3.75 **                                                                      | **x**                                                                               |
|                                               |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                                          |                                                                                     |            |
|                                               |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                                     |                                                                                     |            |  |  |  |  |  |  |

 

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