EXHIBIT 12(a)

CLECO CORPORATION
COMPUTATION OF EARNINGS (LOSS) TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(Unaudited)

|                                                                                                                          |                                                                                       |              |             | 2003                       |            | 2002       |            | 2001       |            | 2000       |          | 1999 |  | 
|------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------- | ------------ | ----------- | -------------------------- | ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | -------- | ---- |  | 
|                                                                                                                          |                                                                                       |              |             | (Thousands, except ratios) |           
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Earnings (loss) from
  continuing operations                                                                              | $   (34,929)                                                                          |              | $   71,875  |                            | $   72,273 |            | $   69,335 |            | $   58,070 |            |         
|Income taxes (benefit)                                                                                                    | (23,974)                                                                              |              | 42,243      |                            | 38,356     |            | 34,961     |            | 27,766     |            |         
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Earnings (loss) from
  continuing operations before income taxes                                                          | $   (58,903)                                                                          |              | $ 114,118   |                            | $ 110,629  |            | $ 104,296  |            | $   85,836 |            |         
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Fixed charges:                                                                                                            |                                                                                       |              |             |                            |            |            |            |            |            |            |          |     
|                                                                                                                          | Interest, long-term debt                                                              | $     60,998 |             | $   55,877                 |            | $   51,619 |            | $   48,919 |            | $   30,875 |          |     
|                                                                                                                          | Interest, other (including
  interest on short-term (debt)                            | 7,843        |             | 9,606                      |            | 6,348      |            | 7,571      |            | 2,838      |          |     
|                                                                                                                          | Amortization of debt
  expense, premium, net                                          | 3,415        |             | 1,742                      |            | 1,530      |            | 1,164      |            | 1,282      |          |     
|                                                                                                                          | Portion of rentals
  representative of an interest factor                             | 549          |             | 643                        |            | 527        |            | 574        |            | 579        |          |     
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Total fixed charges                                                                                                       |                                                                                       | $     72,805 |             | $   67,868                 |            | $   60,024 |            | $   58,228 |            | $   35,574 |          |     
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Earnings (loss) from
  continuing operations before income taxes                                                          | (58,903)                                                                              |              | 114,118     |                            | 110,629    |            | 104,296    |            | 85,836     |            |         
|                                                                                                                          | Total fixed charges                                                                   |              | 72,805      |                            | 67,868     |            | 60,024     |            | 58,228     |            | 35,574   |      | 
|                                                                                                                          | Amortization of capitalized
  interest                                                | 725          |             | 725                        |            | 458        |            | 252        |            | -          |          |     
|                                                                                                                          | Long-term capitalized
  interest                                                      | -            |             | (6,013)                    |            | (10,115)   |            | (7,769)    |            | (5,301)    |          |     
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Earnings (loss) from
  continuing operations before income taxes                                                          |                                                                                       |              |             |                            |            |            |            |            |            |           
|                                                                                                                          | and fixed charges                                                                     |              | $    14,627 |                            | $ 176,698  |            | $ 160,996  |            | $ 155,007  |            | $116,109 |      | 
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Ratio of earnings (loss) to
  fixed charges                                                                               | 0.20                                                                                  | x*           | 2.60        | x                          | 2.68       | x          | 2.66       | x          | 3.26       | x          |         
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Total fixed charges from
  above                                                                                          | $    72,805                                                                           |              | $   67,868  |                            | $   60,024 |            | $   58,228 |            | $  35,574  |            |         
|Preferred stock dividends                                                                                                 |                                                                                       | 2,096        |             | 2,171                      |            | 2,226      |            | 2,285      |            | 2,531      |          |     
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Total fixed charges and
  preferred stock dividends                                                                       | $    74,901                                                                           |              | $   70,039  |                            | $   62,250 |            | $   60,513 |            | $  38,105  |            |         
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|Ratio of earnings (loss) to
  combined fixed charges                                                                      |                                                                                       |              |             |                            |            |            |            |            |            |            |         
|                                                                                                                          | and preferred stock
  dividends                                                       | 0.20         | x**         | 2.52                       | x          | 2.59       | x          | 2.56       | x          | 3.05       | x        |     
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  | 
|* For the year ended
  December 31, 2003, earnings were   insufficient
  to         cover fixed charges by $58.2 million. |                                                                                       |              |             |                            |            |            |            |            |            |            |         
|** For the year ended
  December 31, 2003, earnings were                                                                  |                                                                                       |              |             |                            |            |            |            |            |            |            |         
|                                                                                                                          | insufficient to cover
  fixed charges and preferred stock dividends by $60.3 million. |              |             |                            |            |            |            |            |            |            |          |     
|                                                                                                                          |                                                                                       |              |             |                            |            |            |            |            |            |            |          |      |  |