Table of Contents NextEra Energy, Inc. Overview (NYSE: NEE) Slide 4 Florida Power & Light Slide 9 NextEra Energy Resources Slide 16 NextEra Energy Partners, LP (NYSE: NEP) Slide 24 Financial Review Slide 30 Appendix Slide…
NextEra Energy (NYSE: NEE) is comprised of two strong businesses supported by a common platform 46 B market capitalization (1) 44,869 MW in operation (2) 75 B in total assets One of the largest U.S. electric utilities U.S.…
Built on a foundation of operational excellence and financial strength, and focused on clean generation Cost and Reliability Generation Profile 2013 Utility & Corporate Benchmarks 2014 NextEra Energy Fuel Mix MWhs(4) Good Industry…
We have a long-term track record of delivering shareholder value Adjusted Earnings Per Share(1) Total Shareholder Return(2) 35% 100% 93% 5.30 28% 29% 90% 4.97 30% 75% 4.57 80% 4.30 4.39 25% 70% 3.84 4.05 3.49 20% 60% 3.04 48% 50%…
NextEra Energy is well-positioned for future growth NextEra Energy Investment Proposition Visible growth opportunities at both primary businesses At FPL, investing capital to improve customer value At Energy Resources, strong…
NextEra Energy investment proposition is enhanced by the formation of NextEra Energy Partners (NYSE: NEP) NextEra Energy Partnership with NEP Best in class YieldCo vehicle through creation of Strong sponsor with proven development…
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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 25,092 MW in…
FPL currently operates under a settlement agreement extending through the end of 2016 Settlement Agreement Effective for a four-year term beginning January 2013 through December 2016 Base rate adjustment increase of 350 MM effective…
Focus on efficiency has driven best in class performance 2013 Operational Cost Effectiveness 100.00 Good Adjusted Regressed Top Quartile Top Decile /Retail MWh(1) FPL 2013 = 15.19/MWh Log/Log 10.00 1,000,000 10,000,000…
FPL is moving forward on three 75 MW solar projects to take advantage 2016 ITC window and prior development work Solar Investment Combined 225 MW 400 to 420 MM Expected in-service in 2016 Existing FPL properties: Manatee County…
The Florida Public Service Commission approved FPLs initial proposal an innovative plan to invest in natural gas supplies Natural Gas Supply Project JV with PetroQuest Development of production wells in Woodford Shale region…
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 12,500 MW of…
Energy Resources generation portfolio consists of a diverse set of technologies positioned in a number of regions Energy Resources Generation Portfolio(1) Wind Nat Gas 11,427 MW 3,991 MW Nuclear 2,721 MW Oil - 796 MW Solar -…
Energy Resources had one of its best ever periods of origination activity for new contracted renewables in 2014 Energy Resources Highlights Development program signed contracts for roughly 1,400 megawatts of new renewables projects…
Renewable projects are increasingly price competitive with conventional generation U.S. Wind U.S. Solar Delivered Cost of Electricity(1) Delivered Cost of Electricity(2) Levelized cost to wholesale customer (/MWh) Levelized cost to…
111(d) has the potential to drive significant demand for additional renewable energy EPA Proposed Clean Air Act 111(d) Rule Published in June 2014 for comment; process is ongoing Rule proposes state-by-state CO2 emission targets,…
Energy Resources strategy implies a shift in portfolio mix towards long-term contracted assets Energy Resources Adjusted EBITDA(1) 100% 11% 15% 13% 75% 24% 40% 26% 50% 59% 63% 25% 49% 0% 2009 2012 2014 Long-Term Contracted…
Development activities for the Mountain Valley Pipeline project continue to progress Mountain Valley Pipeline Project JV with EQT Designed to connect Marcellus and Utica shales with markets in the Southeast regions 300 mile…
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NextEra Energy Partners is a best-in-class YieldCo NextEra Energy Partners Investment Proposition Growth-oriented partnership formed by NextEra Energy Strong sponsor with proven development track record Access to management, skills…
Asset portfolio consists of 11 geographically diversified projects operating under long-term contracts Asset Portfolio Capacity: 1,240 MW 26 As of January 9, 2015
NEPs distributable cash flow is driven by OpCo distributions Distribution Policy Public Unitholders The operating subsidiaries manage the project entities, service debt payments and NextEra Energy NextEra Energy fund any…
Structure incorporates the IDR Fee structure from typical MLPs Incentive Distribution Fee Overview IDR Fee entitles an affiliate of sponsor to receive an increasing share of distributions as benchmarks for OpCo distributions are…
Aligned interests with NextEra Energy IDR Fee Asset Sale Interest Proceeds Accretive Increase Drop- IDR Fee Downs Cash Flows Driving LP Unit Growth is the Key LP Distribution Growth Retained LP Stake 29
FINANCIAL REVIEW 30
NextEra Energys credit metrics met the targets we laid out for 2014 and are on track to continue to improve in 2015 NextEra Energy Credit Metrics Actual Target Actual Projected S&P A- Range 2013 2014 2014 2015 FFO/Debt 23%-35% 23% 25%…
NextEra Energy has received approximately 18.1 billion(1) of credit, including commitments and funded transactions Country Breakdown by Funding We have a balanced and well-diversified lending group (1) 18.1 billion of credit…
Appendix 33
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While the majority of states use cost-of-service ratemaking, a number of states have gone through deregulation History of State Deregulation During the 1990s, a number of states adopted different regulatory models to encourage…
Multiple regulators, at the federal and state level, govern rate setting, transmission, reliability, and environmental protection Major Regulatory Agencies Federal Energy Regulatory Commission (FERC) FERC has also encouraged the…
Florida is regulated by a state agency known as the Florida Public Service Commission Florida Public Service Commission Consists of five members selected for their knowledge and experience in fields substantially related to the duties…
FPLs costs are recovered through base rates as well as through clause mechanisms Cost Recovery Mechanisms Base rates designed to recover the costs of constructing, operating, and maintaining a utility system Generally, most of FPLs…
The United States power industry varies meaningfully by region United States Power Markets Large and small regulated and Regulated Geographically Transmission & dispersed merchant utilities Distribution regulated utilities…
The Investor Relations website is a great source for company information NEE Investor Relations Website You can find the IR home page here on the main www.nexteraenergy.com site: 40
Reconciliation of Earnings Per Share Attributable to NextEra Energy, Inc. to Adjusted Earnings Per Share 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Earnings Per Share Attributable to NextEra Energy, Inc. (assuming…
NextEra Energy Resources Portfolio Additions(1,2) March 2013 Backlog (3) Incremental Opportunities U.S. Wind: MW COD U.S. Wind: MW COD Tuscola Bay II(4) 100.3 2013 Tuscola Bay II(4) 100.3 2013 Steele Flats(4) 74.8 2013 Steele…
Definitional information NextEra Energy Resources, LLC. Adjusted EBITDA (Slide 22) Adjusted EBITDA includes NextEra Energy Resources consolidated investments, excluding Spain, its share of NEP IPO and estimated investments consistent with…
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NextEra Energy Partners Portfolio Information(1,2) Contract Contract NEP Current Portfolio: Type MW COD Expiration NEP ROFO Portfolio(3): Type MW COD Expiration Northern Colorado Wind 22.5 Sept 2009 2029 Story II Wind 150 Dec 2009 2030…
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) which face risks related to project siting, financing, construction, permitting, the environment, governmental approvals and the negotiation of project…
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) Reimbursements and fees owed to NEP GP and its affiliates for services provided to NEP or on NEP's behalf will reduce cash available for distribution to or from…
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