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|------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|-------------------------------------------------------------------------------|-------------------------------------------------------------------------------|----------------------------------------------------------------------|---------------------------------------------------------------------|---------------|
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    |                                                                               | ** **                                                                    | **EXHIBIT 12(a)**                                                    |
| **CLECO  CORPORATION  COMPUTATION OF EARNINGS TO FIXED CHARGES  AND EARNINGS TO COMBINED FIXED CHARGES  AND PREFERRED STOCK DIVIDENDS  (UNAUDITED)** |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | **For the  three  months ended**                                              |                                                                               | **For  the  six  months ended**                                          |                                                                      | **For the  twelve  months ended**                                   |               |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | **June 30, 2003**                                                             | ** **                                                           | ** **                                                          | ** **    |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | (Thousands, except  ratios)                                                   |                                                                               |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        |                                                                               |                                                                               |                                                                               |                                                                      |                                                                     |               |
| Loss from operations                                                                                                                                 | **$        (66,401)**                                                                                                                                                                                                          | ** **                                                                    | **$        (48,588)**                 | ** **                                                                    | $          (8,548) |                                                                     |
| Income taxes                                                                                                                                         | **(40,725)**                                                                                                                                                                                                                                                           | ** **                                                                    | **(32,486)**                                                                  | ** **                                                                    | (7,908)                                                              |                                                                     |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Loss from operations  before income taxes                                                                                                            | **$      (107,126)**                                                                                                                                                                                                                     | ** **                                                                    | **$        (81,074)**                 | ** **                                                                    | $        (16,456)            |                                                                     |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Fixed charges:                                                                                                                                       | ** **                                                                                                                                                                                                                                                             | ** **                                                                    | ** **                                                                    | ** **                                                                    |                                                                      |                                                                     |
|                                                                                                                                                      | Interest, long-term  debt                                                                                                                                                                                                                                              | **$          15,140 ** | ** **                                                                    | **$          28,611 ** | ** **                                                           | $         55,671  |               |
|                                                                                                                                                      | Interest, other  (including interest on short-term debt)                                                                                                                                                                                                               | **2,438 **                                                               | ** **                                                                    | **6,071 **                                                               | ** **                                                           | 15,076                                                         |               |
|                                                                                                                                                      | Amortization of debt  expense, premium, net                                                                                                                                                                                                                            | **895 **                                                                 | ** **                                                                    | **1,514 **                                                               | ** **                                                           | 2,121                                                          |               |
|                                                                                                                                                      | Portion of rentals  representative of an interest factor                                                                                                                                                                                                               | **136 **                                                                 | ** **                                                                    | **298 **                                                                 | ** **                                                           | 593                                                            |               |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Total fixed charges                                                                                                                                  | **$          18,609 **                                                                                                                                                                                          | ** **                                                                    | **$          36,494 ** | ** **                                                                    | $         73,461   |                                                                     |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Loss from operations  before income taxes                                                                                                            | **(107,126)**                                                                                                                                                                                                                                                          | ** **                                                                    | **(81,074)**                                                                  | ** **                                                                    | (16,456)                                                             |                                                                     |
|                                                                                                                                                      | Total fixed charges                                                                                                                                                                                                                                                    | **18,609 **                                                              | ** **                                                                    | **36,494 **                                                              | ** **                                                           | 73,461                                                         |               |
|                                                                                                                                                      | Amortization of  capitalized interest                                                                                                                                                                                                                                  | **182 **                                                                 | ** **                                                                    | **359 **                                                                 | ** **                                                           | 725                                                            |               |
|                                                                                                                                                      | Long-term capitalized  interest                                                                                                                                                                                                                                        | **- **                                                                   | ** **                                                                    | **- **                                                                   | ** **                                                           | (509)                                                               |               |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Earnings (loss) from  operations before income taxes                                                                                                 |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    |                                                                      |                                                                     |
|                                                                                                                                                      | and fixed charges                                                                                                                                                                                                                                                      | **$        (88,335)**                 | ** **                                                                    | **$        (44,221)**                 | ** **                                                           | $         57,221  |               |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Ratio of earnings  (loss) to fixed charges                                                                                                           | *** **                                                                                                                                                                                                                                                            | **x**                                                                         | *** **                                                                   | **x**                                                                         | 0.78                                                            | x  *****                                                  |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Total fixed charges  from above                                                                                                                      | **$          18,609 **                                                                                                                                                                                          | ** **                                                                    | **$          36,494 ** | ** **                                                                    | $         73,461   |                                                                     |
| Preferred stock  dividends                                                                                                                           | **513 **                                                                                                                                                                                                                                                          | ** **                                                                    | **1,068 **                                                               | ** **                                                                    | 2,163                                                           |                                                                     |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Total fixed charges and  preferred stock dividends                                                                                                   | **$          19,122 **                                                                                                                                                                                          | ** **                                                                    | **$          37,562 ** | ** **                                                                    | $         75,624   |                                                                     |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        | ** **                                                                    | ** **                                                                    | ** **                                                                    | ** **                                                           |                                                                     |               |
| Ratio of earnings  (loss) to combined fixed charges                                                                                                  | ** **                                                                                                                                                                                                                                                             | ** **                                                                    | ** **                                                                    | ** **                                                                    |                                                                      |                                                                     |
|                                                                                                                                                      | and preferred stock  dividends                                                                                                                                                                                                                                         | **** **                                                                  | **x**                                                                         | **** **                                                                  | **x**                                                                | 0.76                                                           | x ****** |
|                                                                                                                                                      |                                                                                                                                                                                                                                                                        |                                                                               |                                                                               |                                                                               |                                                                      |                                                                     |               |
|                                                                                                                                                 |                                                                                                                                                                                                                                                                        |                                                                               |                                                                               |                                                                               |                                                                      |                                                                     |               |
| *                                                                                                                                                    | *For the three months, six months,  and twelve months ended  June 30, 2003, earnings were insufficient  to cover fixed        charges by $18.6  million, $36.5 million, and $16.2 million, respectively.*                                |
|                                                                                                                                                      | * *                                                                                                                                                                                                                                                               |                                                                               |
| **                                                                                                                                                   | *For the three months, six months,  and twelve months ended  June 30, 2003, earnings were insufficient  to cover fixed        charges and  preferred stock dividends by $19.1 million,  $37.6 million, and $18.4 million, respectively.* |

 

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