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**EXHIBIT 12(b)**

**CLECO POWER COMPUTATION OF EARNINGS TO FIXED CHARGES**

** (UNAUDITED)**

 

|                                               |                                                          |  For the      |                             | For the      |              |  For the      |   |
|-----------------------------------------------|----------------------------------------------------------|--------------------|-----------------------------|--------------|--------------|--------------------|---|
|                                               |                                                          |  three        |                             | six          |              |  twelve       |   |
|                                               |                                                          |  months ended |                             | months ended |              |  months ended |   |
|                                               |                                                          |                    | June 30, 2004               |              |
|                                               |                                                          |                    | (Thousands, except  ratios) |              |
| Earnings from  operations                     | $                                                        | 9,710         |                             | $            | 21,530  |                    | $ | 47,347  |  |
| Federal  and state income taxes               |                                                          | 6,658         |                             |              | 12,594  |                    |   | 26,532  |  |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |  |
| Earnings from  operations before income taxes | $                                                        | 16,368        |                             | $            | 34,124  |                    | $ | 73,879  |  |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |  |
| Fixed charges:                                |                                                          |                    |                             |              |              |                    |   |  |  |
|                                               | Interest, long-term  debt                                | $                  | 6,728                  |              | $            | 13,445        |   | $ | 26,793  |  |
|                                               | Interest, other  (including interest on short-term debt) |                    | (606)                       |              |              | (116)              |   |  | 561  |  |
|                                               | Amortization of debt  expense, premium, net              |                    | 458                    |              |              | 898           |   |  | 1,782  |  |
|                                               | Portion of rentals  representative of an interest factor |                    | 76                     |              |              | 160           |   |  | 305  |  |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |  |
| Total fixed charges                           | $                                                        | 6,656         |                             | $            | 14,387  |                    | $ | 29,441  |  |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |  |
| Earnings from  operations before income taxes | $                                                        | 16,368        |                             | $            | 34,124  |                    | $ | 73,879  |  |
|                                               | Plus:  total fixed  charges from above              |                    | 6,656                  |              |              | 14,387        |   |  | 29,441  |  |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |
| Earnings from  operations before income taxes |                                                          |                    |                             |              |              |                    |   |  |  |
|                                               | and fixed charges                                        | $                  | 23,024                 |              | $            | 48,511        |   | $ | 103,320  |  |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |
| Ratio of earnings to  fixed charges           |                                                          | 3.46          | X                           |              | 3.37    | X                  |   | 3.51  | X |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |  |
|                                               |                                                          |                    |                             |              |              |                    |   |  |  |  |  |  |  |

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