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NextEra Energy reports news on a North American electric power and energy infrastructure business built around Florida Power & Light Company and NextEra Energy Resources. Recurring updates cover regulated utility operations in Florida, energy infrastructure development, financial results, investor presentations, and capital actions tied to common stock, equity units, debentures, and project funding.
Company news also covers generation and infrastructure themes across natural gas, nuclear power, renewable energy, and battery storage. Florida Power & Light developments include utility service, nuclear-plant licensing and operations, and power-supply planning, while NextEra Energy Resources updates center on large-scale energy development and customer demand for new generation.
NextEra Energy, Inc. (NYSE: NEE) announced leadership changes as Eric Silagy, CEO of Florida Power & Light Company (FPL), plans to retire after 20 years, including 11 years at FPL. Armando Pimentel has been appointed as his successor, effective Feb. 15, 2023, bringing prior experience as CFO for NextEra and FPL. John Ketchum, CEO of NextEra, will serve as chairman of FPL. Silagy praised Florida's transformation under his leadership and expressed confidence in FPL's future. The changes aim to sustain the company's commitment to providing reliable, low-cost energy to over 12 million Floridians.
Florida Power & Light Company filed a proposal with the Florida Public Service Commission on January 23, 2023, to adjust rates to recover costs related to two hurricanes and natural gas price volatility. The proposal suggests spreading unrecovered fuel costs from 2022 over 21 months and recovery of storm costs over 12 months. Despite a projected increase of approximately 10% for a typical 1,000-kWh residential bill from April 2023, the bill would remain below the national average. The plan aims to mitigate the impact of these costs while ensuring customer bills stay manageable amid fluctuating energy costs.
NextEra Energy Partners, LP (NYSE: NEP) will announce its Q4 and full-year 2022 financial results prior to the NYSE opening on Jan. 25, 2023. A news release will be available on its website. An investor presentation, including discussions on NextEra Energy, Inc. (NYSE: NEE) results, will take place at 9 a.m. ET on the same day. The presentation can be accessed via the company’s website, with results and slides downloadable starting at 7:30 a.m. ET.
NextEra Energy, Inc. (NYSE: NEE) will report its fourth-quarter and full-year 2022 financial results on January 25, 2023, before the NYSE opens. A news release will be available on the company's website. An investor presentation, starting at 9 a.m. ET on the same day, will discuss these results, including those of NextEra Energy Partners, LP (NYSE: NEP). The financial results and presentation slides will be accessible from 7:30 a.m. ET on the release day, with a replay available for 90 days.
NextEra Energy Partners, LP (NYSE: NEP) announced a private placement offering of $500 million in convertible senior notes due 2026, aimed at qualified institutional buyers. The proceeds will fund a portion of a 1,080-megawatt renewable portfolio acquisition, repay corporate borrowings, and cover capped call transactions. The notes, fully guaranteed by NextEra Energy Operating Partners, LP, can be converted into common units or cash. The offering is not registered under the Securities Act and is limited to qualified buyers.
NextEra Energy Partners has announced an agreement to acquire a 49% interest in an approximately 1.5-gigawatt renewables portfolio and about 100% of the indirect membership interests in a 345-MW portfolio of operational wind assets. The acquisition is valued at approximately $805 million and will be funded through a 10-year convertible equity portfolio financing with Ontario Teachers' Pension Plan Board. This strategic move aims to enhance the partnership's portfolio diversity and is expected to yield adjusted EBITDA of $210 million to $230 million and CAFD of $62 million to $72 million.
NextEra Energy, Inc. (NYSE: NEE) and NextEra Energy Partners, LP (NYSE: NEP) will participate in the EEI Financial Conference from Nov. 13-15, 2022. Senior management will discuss growth rate expectations and partake in investor meetings throughout November and December. NextEra Energy, a leader in clean energy, operates Florida Power & Light Company, serving over 12 million people. It also owns substantial renewable energy assets. Investors can find presentation materials on their websites for detailed insights.
NextEra Energy Resources, in partnership with Coffee County, Alabama, plans to construct the state's inaugural landfill renewable natural gas (RNG) production facility. This project will upgrade the current landfill gas collection system and capture over 16,500 metric tons of methane gas annually. The facility aims to produce 1,100 standard cubic feet per minute of RNG, with all output sold to Southeast Gas under a long-term contract. Estimated to create 50-60 construction jobs, construction is expected to begin in Q2 2023, pending necessary permits.
NextEra Energy, Inc. (NYSE: NEE) has released its third-quarter 2022 financial results, available on its website. The presentation includes insights from CEO John Ketchum and CFO Kirk Crews, highlighting the company's leadership in clean energy generation. NextEra operates Florida Power & Light Company, serving 5.8 million customer accounts, and is recognized as a top generator of renewable energy globally. The company continues to focus on sustainability and has received various accolades for its corporate responsibility and environmental leadership.
NextEra Energy Partners, LP (NYSE: NEP) announced the availability of its third-quarter 2022 financial results. The report can be accessed on their website. CEO John Ketchum and CFO Kirk Crews will discuss these results during a live webcast at 9 a.m. ET. NextEra Energy Partners focuses on acquiring and managing contracted clean energy projects, ensuring stable cash flows. The partnership includes diverse wind, solar, energy storage, and natural gas assets across the U.S.