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UNITED STATES |
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SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C.
20549 |
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FORM 8‑K |
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CURRENT REPORT |
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Pursuant to Section 13 or 15(d) of |
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the Securities
Exchange Act of 1934 |
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Date of Report
(Date of earliest event reported): October 7, 2005 |
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CLECO CORPORATION |
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(Exact name of
registrant as specified in its charter) |
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Louisiana |
1-15759 |
72-1445282 |
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(State or other jurisdiction |
(Commission File Number) |
(IRS Employer |
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of incorporation) |
Identification No.) |
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2030 Donahue Ferry Road |
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Pineville, Louisiana |
71360-5226 |
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(Address of
principal executive offices) |
(Zip Code) |
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Registrant's
telephone number, including area code: (318) 484-7400 |
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CLECO POWER LLC |
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(Exact name of
registrant as specified in its charter) |
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Louisiana |
1-05663 |
72-0244480 |
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(State or other jurisdiction |
(Commission File Number) |
(IRS Employer |
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of incorporation) |
Identification No.) |
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2030 Donahue Ferry Road |
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Pineville, Louisiana |
71360-5226 |
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(Address of principal executive offices) |
(Zip Code) |
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Registrant's
telephone number, including area code: (318) 484-7400 |
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions: |
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o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
This combined Form 8-K is separately filed by Cleco Corporation and Cleco Power. Information in this filing relating to Cleco Power is filed by Cleco Corporation and separately by Cleco Power on its own behalf. Cleco Power makes no representation as to information relating to Cleco Corporation (except as it may relate to Cleco Power) or any other affiliate or subsidiary of Cleco Corporation.
Item 8.01 Other Events.
On September 24, 2005, Hurricane Rita made landfall as a Category 3 storm and hit all of Cleco Power's service territory, including the area north of Lake Pontchartrain, which was devastated by Hurricane Katrina 27 days earlier. Cleco Power had approximately 136,000 customers (out of approximately 265,000 customers) without power immediately following the hurricane. As of October 7, 2005, Cleco Power is still working to restore power to a small number of customers in the more remote areas of the company's rural service territory.
On October 7, 2005, Cleco Corporation announced its preliminary estimates of storm restoration costs associated with Hurricane Rita. Total restoration costs of Cleco Power's electric system facilities damaged by Hurricane Rita are currently estimated to be approximately $50 million. Cleco Power has requested and received regulatory approval from the Louisiana Public Service Commission to create a regulatory asset that represents non-capitalized storm damage costs incurred as a result of Hurricanes Katrina and Rita. This regulatory asset will be amortized over a ten-year period beginning in October 2005. For more information about Cleco Power's recovery efforts, see the press release issued October 7, 2005, a copy of which is furnished as Exhibit 99.1 to this Report.
Cleco Power believes it has sufficient liquidity to meet its current obligations and to fund restoration efforts from a combination of cash on hand and available capacity under its revolving credit facilities.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
The following exhibit is furnished herewith:
99.1 Press release issued October 7, 2005 regarding restoration of power and estimated Hurricane Rita restoration costs.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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CLECO CORPORATION |
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Date: October 7, 2005 |
By: /s/ Kathleen F. Nolen |
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Kathleen F. Nolen |
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Senior
Vice President and Chief |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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CLECO POWER LLC |
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Date: October 7, 2005 |
By: /s/ Kathleen F. Nolen |
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Kathleen F. Nolen |
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Senior
Vice President and Chief |
EXHIBIT INDEX
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Exhibit Number |
Exhibit Description |
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99.1 |
Press Release issued October 7, 2005 regarding restoration of power and estimated Hurricane Rita restoration costs. |