EXHIBIT 12

CLECO POWER LLC
COMPUTATION OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS

(Unaudited)





|                                                                             | 2001                                   | 2000      | 1999      | 1998      | 1997     
|---------------------------------------------------------------------------- | -------------------------------------- | --------- | --------- | --------- | ---------
|                                                                             | (Thousands, except ratios)            
|                                                                             |                                        |           |           |           |          
|Earnings from continuing operations                                          | $  59,138                              | $  59,857 | $  56,683 | $  53,801 | $  52,519
|Income taxes                                                                 | 31,290                                 | 30,998    | 27,272    | 26,666    | 27,729   
|                                                                             |                                       
|Earnings from continuing operations before
   income taxes                   | $  90,428                              | $  90,855 | $  83,955 | $  80,467 | $  80,248
|                                                                             | ======================================
|Fixed charges:                                                               |                                        |           |           |           |          
|Interest, long-term debt                                                     | $  23,813                              | $  24,929 | $  25,377 | $  23,350 | $  23,676
|Interest capitalized                                                         | --                                     | --        | --        | --        | --       
|Interest, other (including interest on
      short-term debt)                | 3,304                                  | 3,427     | 1,755     | 3,666     | 3,873    
|Amortization of debt expense, premium, net                                   | 879                                    | 946       | 1,282     | 1,248     | 1,206    
|Portion of rentals representative of an
      interest factor                | 527                                    | 493       | 615       | 486       | 487      
|                                                                             |                                       
|Total fixed charges                                                          | $  28,523                              | $  29,795 | $  29,029 | $  28,750 | $  29,242
|                                                                             | ======================================
|Earnings from continuing operations before
   income taxes and fixed charges | $118,951                               | $120,650  | $112,984  | $109,217  | $109,490 
|                                                                             |                                        |           |           |           |          
|Ratio of earnings to fixed charges                                           | 4.17x                                  | 4.05x     | 3.89x     | 3.80x     | 3.74x    
|                                                                             | ======================================
|Total fixed charges from above                                               | $  28,523                              | $  29,795 | $  29,029 | $  28,750 | $  29,242
|Preferred stock dividends                                                    | --                                     | --        | 1,315     | 2,814     | 2,884    
|                                                                             |                                       
|                                                                             |                                        |           |           |           |          
|Total fixed charges and preferred stock dividends                            | $  28,523                              | $  29,795 | $  30,344 | $  31,564 | $  32,126
|                                                                             | ======================================
|Ratio of earnings to combined fixed charges
   and preferred stock dividends | 4.17x                                  | 4.05x     | 3.72x     | 3.46x     | 3.41x    
|                                                                             | ======================================