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|                                                                                   |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                         | ** EXHIBIT 12(b)**                                                 |
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|                                                                                        |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                         | ** **                                                              |  |
| **CLECO POWER LLC  COMPUTATION OF EARNINGS TO FIXED CHARGES  (UNAUDITED)**

** ** |
|                                                                                        |                                                                                                | **For the  three  months ended**                                                               |                                                                                     | **For the  six  months ended**                                                      |                                                                         | **For the  twelve  months ended**                                       |  |
|                                                                                        |                                                                                                | **June 30, 2003**                                                                              |                                                                                     |
|                                                                                        |                                                                                                | (Thousands, except  ratios)                                                                    |                                                                                     |
|                                                                                        |                                                                                                |                                                                                                |                                                                                     |                                                                                     |                                                                         |                                                                         |  |
| Earnings from  operations                                                              | **$            15,253**            | ** **                                                                                     | **$            31,191** | ** **                                                                          | **$          61,286** | ** **                                                              |
| Income taxes                                                                           | **9,481**                                                                                      | ** **                                                                                     | **15,909**                                                                          | ** **                                                                          | **30,677**                                                              | ** **                                                              |
|                                                                                        |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              | ** **                                                              | ** ** |
| Earnings from  operations before income taxes                                          | **$            24,734**            | ** **                                                                                     | **$            47,100** | ** **                                                                          | **$          91,963** | ** **                                                              |
|                                                                                        |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              | ** **                                                              | ** ** |
| Fixed charges:                                                                         | ** **                                                                                     | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              | ** **                                                              |
|                                                                                        | Interest, long-term  debt                                                                      | **$              6,502** | ** **                                                                          | **$            12,492** | ** **                                                              | **$          24,694** | ** ** |
|                                                                                        | Interest, other  (including interest on short-term debt)                                       | **665**                                                                                        | ** **                                                                          | **1,544**                                                                           | ** **                                                              | **4,523**                                                               | ** ** |
|                                                                                        | Amortization of debt  expense, premium, net                                                    | **384**                                                                                        | ** **                                                                          | **642**                                                                             | ** **                                                              | **1,147**                                                               | ** ** |
|                                                                                        | Portion of rentals  representative of an interest factor                                       | **124**                                                                                        | ** **                                                                          | **278**                                                                             | ** **                                                              | **521**                                                                 | ** ** |
|                                                                                        |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              | ** **                                                              | ** ** |
| Total fixed charges                                                                    | **$              7,675** | ** **                                                                                     | **$            14,956** | ** **                                                                          | **$          30,885** | ** **                                                              |
|                                                                                        |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              | ** **                                                              | ** ** |
| Earnings from  operations before income taxes                                          |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              | ** **                                                              |
|                                                                                        | and fixed charges                                                                              | **$            32,409**            | ** **                                                                          | **$            62,056** | ** **                                                              | **$        122,848**            | ** ** |
|                                                                                        |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              | ** **                                                              | ** ** |
| Ratio of earnings to  fixed charges                                                    | **4.22**                                                                                       | **x**                                                                                          | **4.15**                                                                            | **x**                                                                               | **3.98**                                                                | **x**                                                                   |
|                                                                                        |                                                                                                | ** **                                                                                     | ** **                                                                          | ** **                                                                          | ** **                                                              |                                                                         |  |

 

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