Wolfe Research Power & Gas Deep Dive Conference Armando Pimentel President and CEO, NextEra Energy Resources April 2, 2014
Table of Contents NextEra Energy, Inc. Overview Slide 4 Florida Power & Light Slide 10 NextEra Energy Resources Slide 16 NextEra Energy, Inc. Financial Review Slide 26 Appendix Slide 32 3
NextEra Energy is well-positioned for future growth NextEra Energy Investment Proposition Above-average and highly visible growth through 2016 Rate agreement through 2016 provides regulatory certainty at FPL Strong backlog at Energy…
NextEra Energy is comprised of two strong businesses supported by a common platform 40.6 B market capitalization(1) 42,576 MW in operation 69 B in total assets One of the largest U.S. electric utilities U.S. leader in…
Our business strategies are straightforward Competitive Strategy Florida Power & Light NextEra Energy Resources Customer Satisfaction Competitive Markets Superior Customer Constructive Diverse Customer Segments Value Virtuous…
NextEra Energy is built on a foundation of operational excellence and financial strength SAIDI: System Average (1) Interruption Duration Index Utility Credit Ratings(3) Minutes 40% 38% 150 FL Industry Average Good 125 35% NextEra…
NextEra Energy has one of the cleanest emissions profiles among the nations top 50 power producers NextEra Energy 2013 Fuel Mix(1) SO2 Emissions Rates(2) (MWh) (Lbs/MWh) 9.0 7.5 Nuclear Wind 27% 16% Coal 3% 6.0…
Over an extended period of time, we have been successful in attaining our goal of outperforming our industry NextEra Energy Performance vs. Industry 10-Year CAGR Ending December 31, 2013 S&P 500 Utilities NextEra S&P 500 Index…
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Florida Power & Light is one of the best utility franchises in the U.S. Florida Power & Light(1) One of the largest U.S. electric utilities Vertically integrated, retail rate-regulated 4.7 MM customer accounts 24,273 MW in…
In December 2012, the Florida Public Service Commission voted unanimously to approve FPLs settlement agreement Overview of Settlement Agreement Effective for a four-year term beginning January 1, 2013 through December 31, 2016 Base…
We have made excellent progress on our backlog of major capital projects FPLs Backlog of Major Capital Projects Modernization Projects Nuclear Uprates Cape Canaveral completed Successfully completed our ahead of schedule and under…
In March 2013 we laid out 4 B to 5 B in incremental capital expenditures that we continue to develop Incremental Capital Expenditures Through 2016 Incremental storm hardening Infrastructure / reliability investment Generation…
The Florida Public Service Commission has approved FPLs natural gas pipeline proposal Natural Gas Pipeline Investments Best economic solution for customers Sabal Trail Transmission (Spectra Energy): 465 miles to Central Florida Hub…
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What is Energy Resources A Set of Skills + A Set of Assets Largest greenfield developer in Largest wind and solar renewable North America over the last decade portfolio in North America Over 12,000 MW of greenfield Over 11,000 MW of…
Energy Resources risk profile continues to improve as the business mix shifts to more long-term contracted assets Energy Resources Adjusted EBITDA(1) 100% 11% 15% 14% 75% 22% 40% 26% 50% 59% 64% 25% 49% 0% 2009 2012 2014…
Our generation portfolio includes over 11,000 MW of contracted assets, which are primarily wind and nuclear Energy Resources: Contracted Assets(1) Technology MW Wind 8,366 Nuclear 1,621 Solar 472 Natural Gas 1,003 Total:…
Our wind fleet has grown to a size comparable to a top 15 utility Energy Resources Wind Portfolio Cumulative Wind Growth Top US Wind Developers/Owners(1) (Megawatts) (Megawatts) 12,000 10,210 10,057 10,210 10,000 8,298 8,569…
Renewable Portfolio Standards can support 3-5 GW per year of additional renewables through 2020 United States Renewable Portfolio Standards Strongest wind region Renewable Portfolio Standard (RPS) Voluntary standards or goals…
The combined effect of turbine price reductions and efficiency improvements (longer blades and taller towers) have reduced the levelized cost of wind energy from new wind installations Delivered Cost of Electricity from U.S. Wind(1)…
Typical wholesale power prices for delivered U.S. Southwest (CA/AZ) solar energy are also down significantly, primarily as a result of lower installed solar systems and modest efficiency (NCF) gains Delivered Cost of U.S. Solar…
We have a strong pipeline of new projects to continue our growth Total Wind and Solar Additions 2012 to 2016 Wind 2012 Actual 2013 Actual 2014-15 Est.(1) United States 1,500 MW 250 MW 1,175 MW Canada 20 MW 125 MW 466 MW Solar 2012…
Energy Resources is the U.S. leader in renewable energy and has solid growth prospects supported by a solid strategic focus Diversified portfolio: fuel type and geography Stable cash flows from mostly contracted assets Securing…
FINANCIAL REVIEW 26
Capital expenditures for the next several years will likely average about 5 B - 6 B per year 2013 2016 Capital Expenditures(1) ( B) 2013 2014 2015 2016 (2) Committed Capital Expenditures FPL 2.9 3.2 2.5 2.2 NEER Renewables 2.6…
NextEra Energys business mix is expected to continue to shift towards more regulated and long-term contracted Adjusted EBITDA(2) from Adjusted Earnings from Regulated and Long-Term Regulated Businesses(1) Contracted Operations 100%…
NextEra Energys current dividend policy reflects its expected increase in the proportionate contribution from its rate-regulated businesses and long-term contracted assets Dividend Per Share(1) Growth Dividend Policy Implemented…
Focus for 2014 NextEra Energy: Project Momentum: Implement the many initiatives to underpin our strong cost position Maintain a strong credit position FPL: Maintain leading customer value proposition Continue execution on large…
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Appendix 32
NextEra Energy Resources Portfolio Additions(1) (2) March 2013 Investor Conference Backlog Incremental Opportunities Incl. in 12/31/13 Incl. in 12/31/13 U.S. Wind: MW COD Form 10-K(3) U.S. Wind: MW COD Form 10-K(3) Tuscola Bay II (4)…
Reconciliation of 2011 Adjusted Earnings Before Interest, Taxes Depreciation and Amortization (Adjusted EBITDA) to Net Income (Full-Year Ended December 31, 2011) ( in millions) GAAP Adjustments Adjusted (1) Net income 1,923 (86)…
Reconciliation of Adjusted Earnings to Net Income ( millions) 2011 Net Income 1,923 Adjustments, net of income taxes: Net unrealized mark-to-market losses (gains) associated with non-qualifying hedges (190) Loss (income) from other…
NextEra Energy, Inc. Reconciliation of Adjusted Earnings Per Share to Earnings Per Share 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Earnings Per Share (assuming dilution) 1.38 2.53 2.48 2.34 3.23 3.27 4.07 3.97 4.74 4.59…
Definitional information NextEra Energy Resources, LLC. Adjusted EBITDA (Slides 18, 28) Adjusted EBITDA includes Energy Resources consolidated investments as well as its share of equity method investments. Adjusted EBITDA for each…
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