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|                                                  |                                                         |                            |                   |                   |  
|------------------------------------------------- | ------------------------------------------------------- | -------------------------- | ----------------- | ----------------- | -
|                                                  |                                                         |                            | EXHIBIT 12a      
|                                                  |                                                         |                            |                   |                   |  
|CLECO CORPORATION                                
|COMPUTATION OF EARNINGS TO FIXED CHARGES         
|AND EARNINGS TO COMBINED FIXED CHARGES           
|AND PREFERRED STOCK DIVIDENDS                    
|(UNAUDITED)                                      
|                                                  |                                                         |                            |                   |                   |  
|                                                  |                                                         | For the                    |                   | For the           |  
|                                                  |                                                         | three                      |                   | twelve            |  
|                                                  |                                                         | months ended               |                   | months ended      |  
|                                                  |                                                         | March 31, 2003             |                  
|                                                  |                                                         | (Thousands, except ratios) |                  
|                                                  |                                                         |                            |                   |                   |  
|Earnings from operations                          | $          17,813                                       |                            | $          75,635 |                  
|Income taxes                                      | 8,239                                                   |                            | 42,380            |                  
|                                                  |                                                         |                            |                   |                   |  
|Earnings from operations before income taxes      | $          26,052                                       |                            | $        118,015  |                  
|                                                  |                                                         |                            |                   |                   |  
|Fixed charges:                                    |                                                         |                            |                   |                  
|                                                  | Interest, long-term debt                                | $          14,522          |                   | $          57,393 |  
|                                                  | Interest, other (including interest on short-term debt) | 2,583                      |                   | 11,023            |  
|                                                  | Amortization of debt expense, premium, net              | 618                        |                   | 1,844             |  
|                                                  | Portion of rentals representative of an interest factor | 163                        |                   | 621               |  
|                                                  |                                                         |                            |                   |                   |  
|Total fixed charges                               | $          17,886                                       |                            | $          70,881 |                  
|                                                  |                                                         |                            |                   |                   |  
|Earnings from operations before income taxes      | 26,052                                                  |                            | 118,015           |                  
|                                                  | Total fixed charges                                     | 17,886                     |                   | 70,881            |  
|                                                  | Amortization of capitalized interest                    | 182                        |                   | 725               |  
|                                                  | Long-term capitalized interest                          | -                          |                   | (3,341)           |  
|                                                  |                                                         |                            |                   |                   |  
|Earnings from operations before income taxes      |                                                         |                            |                   |                  
|                                                  | and fixed charges                                       | $          44,120          |                   | $        186,280  |  
|                                                  |                                                         |                            |                   |                   |  
|Ratio of earnings to fixed charges                | 2.47                                                    | x                          | 2.63              | x                
|                                                  |                                                         |                            |                   |                   |  
|Total fixed charges from above                    | $          17,886                                       |                            | $          70,881 |                  
|Preferred stock dividends                         | 547                                                     |                            | 2,164             |                  
|                                                  |                                                         |                            |                   |                   |  
|Total fixed charges and preferred stock dividends | $          18,433                                       |                            | $          73,045 |                  
|                                                  |                                                         |                            |                   |                   |  
|Ratio of earnings to combined fixed charges       |                                                         |                            |                   |                  
|                                                  | and preferred stock dividends                           | 2.39                       | x                 | 2.55              | x



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