FPL Proposes Florida EnergySecure Line to Diversify and Protect Natural Gas Supply for the State

* Project Expected to Create Thousands of Construction Jobs and Generate
Millions of Dollars in New Property Taxes for 14 Counties

JUNO BEACH, Fla.--(Business Wire)--
Florida Power & Light Company (NYSE:FPL) today filed a proposal with the Florida
Public Service Commission (PSC) for the construction of a new underground
natural gas pipeline in Florida to meet increasing demand for natural gas as a
clean fuel for generating electricity while helping to diversify and secure the
state`s access to natural gas supplies.

The pipeline, approximately 300 miles in length, is proposed for construction in
the eastern portion of the state from Palm Beach County in the south to Bradford
County in the north.

The Florida EnergySecure Line is expected to deliver four major benefits:

* An increase in the supply of clean natural gas to meet planned needs. About
two-thirds of the natural gas capacity of the Florida EnergySecure Line would be
used by the FPL Next Generation Clean Energy Centers at Cape Canaveral and
Riviera Beach, where the existing facilities are being modernized to reduce
emissions by utilizing natural gas instead of fuel oil. The remaining capacity
would allow for a reserve margin for the delivery of fuel to FPL or others in
the state.
* Diversification of the source of natural gas production beyond offshore Gulf
of Mexico sources to additional onshore sources. This would benefit customers by
broadening access to additional competitive markets for the supply of natural
gas while helping to offset the risk of disruption to natural gas production in
the Gulf of Mexico from hurricanes and tropical storms.
* Addition of a third major natural gas pipeline route into the Florida
peninsula to help protect access to the supply of natural gas and the electric
generation it supports in the event any of these routes are disrupted.
* Creating demand for 7,500 jobs, including 3,500 construction jobs, as well as
generation of more than $400 million in additional property taxes across 14
counties over the lifetime of the project, according to an economic impact
analysis.

"We are continuing to invest in diversifying our fuel sources through expansion
of nuclear capacity and through new solar power generation, but natural gas is
our most important source of fuel and an essential ingredient in a clean energy
future for the state of Florida," said FPL President and CEO Armando J. Olivera.

"Because of this, we must take the appropriate steps necessary to diversify and
protect our natural gas supply, in the same way we are investing in our
electrical infrastructure to ensure we can continue to deliver affordable,
reliable, clean energy in the decades ahead. The Florida EnergySecure Line will
go a long way toward ensuring we have access to clean natural gas when and where
we need it across the Florida peninsula, while also delivering a positive impact
on jobs and the economy in our state," he said.

Benefits for Customers, Communities and the Economy

The company`s proposal calls for the Florida EnergySecure Line to enter into
service as early as 2014.

FPL received more than 60 proposals as part of an extensive evaluation of
appropriate options for its natural gas requirements. The option for building a
third pipeline was determined to provide the best combination of benefits for
FPL customers, including cost effectiveness and security of supply, while
helping to ensure a competitive environment among suppliers that benefits
consumers through lower prices.

Construction of the pipeline is expected to yield operating savings ranging from
approximately $200 million to $500 million as compared to alternatives for
meeting customer demand over a 40-year pipeline lifespan.

In addition to positively impacting jobs, the project is expected to provide an
opportunity for Florida companies to participate in fabrication, supply and
construction support roles. Construction of the Florida EnergySecure Line, if
approved, is expected to generate sales and use taxes paid by FPL of
approximately $20 million during the construction period. In addition, the
pipeline is expected to generate new property taxes of more than $400 million in
14 Florida counties over its projected 40-year lifespan, according to an
economic impact analysis.

Based on the initial proposal, approximately 90 percent of the pipeline would
use existing rights-of-way associated with utilities, roads or railroads. FPL is
planning a comprehensive public outreach process to obtain feedback about the
route. This input will help the company make a final route selection.

Florida Power & Light Company

Florida Power & Light Company (FPL) is the largest electric utility in Florida
and one of the largest rate-regulated utilities in the United States. FPL serves
4.5 million customer accounts in Florida and is a leading employer in the state
with nearly 11,000 employees. The company consistently outperforms national
averages for service reliability while customer bills are well below the
national average. A clean energy leader, FPL has one of the lowest emissions
profiles and the No. 1 energy efficiency program among utilities nationwide. FPL
is a subsidiary of Juno Beach, Fla.-based FPL Group (NYSE: FPL). For more
information, visit www.FPL.com.

Cautionary Statements And Risk Factors That May Affect Future Results

In connection with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 (Reform Act), FPL Group, Inc. (FPL Group) and
Florida Power & Light Company (FPL) are hereby providing cautionary statements
identifying important factors that could cause FPL Group's or FPL's actual
results to differ materially from those projected in forward-looking statements
(as such term is defined in the Reform Act) made by or on behalf of FPL Group
and FPL in this press release, on their respective websites, in response to
questions or otherwise. Any statements that express, or involve discussions as
to, expectations, beliefs, plans, objectives, assumptions, future events or
performance, climate change strategy or growth strategies (often, but not
always, through the use of words or phrases such as will, will likely result,
are expected to, will continue, is anticipated, aim, believe, could, should,
would, estimated, may, plan, potential, projection, target, outlook, predict and
intend or words of similar meaning) are not statements of historical facts and
may be forward-looking. Forward-looking statements involve estimates,
assumptions and uncertainties. Accordingly, any such statements are qualified in
their entirety by reference to, and are accompanied by, the following important
factors (in addition to any assumptions and other factors referred to
specifically in connection with such forward-looking statements) that could
cause FPL Group's or FPL's actual results to differ materially from those
contained or implied in forward-looking statements made by or on behalf of FPL
Group and FPL.

Any forward-looking statement speaks only as of the date on which such statement
is made, and FPL Group and FPL undertake no obligation to update any
forward-looking statement to reflect events or circumstances, including
unanticipated events, after the date on which such statement is made, unless
otherwise required by law.

New factors emerge from time to time and it is not possible for management to
predict all of such factors, nor can it assess the impact of each such factor on
the business or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained or implied in any
forward-looking statement.

The following are some important factors that could have a significant impact on
FPL Group's and FPL's operations and financial results, and could cause FPL
Group's and FPL's actual results or outcomes to differ materially from those
discussed or implied in the forward-looking statements:

FPL Group and FPL are subject to complex laws and regulations and to changes in
laws and regulations as well as changing governmental policies and regulatory
actions.FPL holds franchise agreements with local municipalities and counties,
and must renegotiate expiring agreements.These factors may have a negative
impact on the business and results of operations of FPL Group and FPL.

* FPL Group and FPL are subject to complex laws and regulations, and to changes
in laws or regulations, with respect to, among other things, allowed rates of
return, industry and rate structure, operation of nuclear power facilities,
construction and operation of generation facilities, construction and operation
of transmission and distribution facilities, acquisition, disposal, depreciation
and amortization of assets and facilities, recovery of fuel and purchased power
costs, decommissioning costs, return on common equity and equity ratio limits,
transmission reliability and present or prospective wholesale and retail
competition. This substantial and complex framework exposes FPL Group and FPL to
increased compliance costs and potentially significant monetary penalties for
non-compliance. The Florida Public Service Commission (FPSC) has the authority
to disallow recovery by FPL of any and all costs that it considers excessive or
imprudently incurred. The regulatory process generally restricts FPL's ability
to grow earnings and does not provide any assurance as to achievement of
earnings levels.
* FPL Group and FPL also are subject to extensive federal, state and local
environmental statutes, rules and regulations, as well as the effect of changes
in or additions to applicable statutes, rules and regulations that relate to, or
in the future may relate to, for example, air quality, water quality, climate
change, greenhouse gas emissions, carbon dioxide emissions, waste management,
marine and wildlife mortality, natural resources, health, safety and renewable
portfolio standards that could, among other things, restrict or limit the output
of certain facilities or the use of certain fuels required for the production of
electricity and/or require additional pollution control equipment and otherwise
increase costs. There are significant capital, operating and other costs
associated with compliance with these environmental statutes, rules and
regulations, and those costs could be even more significant in the future.
* FPL Group and FPL operate in a changing market environment influenced by
various legislative and regulatory initiatives regarding regulation,
deregulation or restructuring of the energy industry, including, for example,
deregulation or restructuring of the production and sale of electricity, as well
as increased focus on renewable and clean energy sources and reduction of carbon
emissions. FPL Group and its subsidiaries will need to adapt to these changes
and may face increasing costs and competitive pressure in doing so.
* FPL Group's and FPL's results of operations could be affected by FPL's ability
to negotiate or renegotiate franchise agreements with municipalities and
counties in Florida.

The operation and maintenance of power generation, transmission and distribution
facilities involve significant risks that could adversely affect the results of
operations and financial condition of FPL Group and FPL.

* The operation and maintenance of power generation, transmission and
distribution facilities involve many risks, including, for example, start up
risks, breakdown or failure of equipment, transmission and distribution lines or
pipelines, the inability to properly manage or mitigate known equipment defects
throughout FPL Group's and FPL's generation fleets and transmission and
distribution systems, use of new or unproven technology, the dependence on a
specific fuel source, failures in the supply or transportation of fuel, the
impact of unusual or adverse weather conditions (including natural disasters
such as hurricanes, floods and droughts), and performance below expected or
contracted levels of output or efficiency. This could result in lost revenues
and/or increased expenses, including, for example, lost revenues due to
prolonged outages and increased expenses due to monetary penalties or fines,
replacement equipment costs or an obligation to purchase or generate replacement
power at potentially higher prices to meet contractual obligations. Insurance,
warranties or performance guarantees may not cover any or all of the lost
revenues or increased expenses. Breakdown or failure of an operating facility of
NextEra Energy Resources, LLC (NextEra Energy Resources) may, for example,
prevent the facility from performing under applicable power sales agreements
which, in certain situations, could result in termination of the agreement or
subject NextEra Energy Resources to incurring a liability for liquidated
damages.

The operation and maintenance of nuclear facilities involves inherent risks,
including environmental, health, regulatory, terrorism and financial risks, that
could result in fines or the closure of nuclear units owned by FPL or NextEra
Energy Resources, and which may present potential exposures in excess of
insurance coverage.

* FPL and NextEra Energy Resources own, or hold undivided interests in, nuclear
generation facilities in four states. These nuclear facilities are subject to
environmental, health and financial risks such as on-site storage of spent
nuclear fuel, the ability to dispose of spent nuclear fuel, the ability to
maintain adequate reserves for decommissioning, potential liabilities arising
out of the operation of these facilities, and the threat of a possible terrorist
attack. Although FPL and NextEra Energy Resources maintain decommissioning
trusts and external insurance coverage to minimize the financial exposure to
these risks, it is possible that the cost of decommissioning the facilities
could exceed the amount available in the decommissioning trusts, and that
liability and property damages could exceed the amount of insurance coverage.
* The U.S. Nuclear Regulatory Commission (NRC) has broad authority to impose
licensing and safety-related requirements for the construction and operation and
maintenance of nuclear generation facilities. In the event of non-compliance,
the NRC has the authority to impose fines or shut down a unit, or both,
depending upon its assessment of the severity of the situation, until compliance
is achieved. NRC orders or new regulations related to increased security
measures and any future safety requirements promulgated by the NRC could require
FPL and NextEra Energy Resources to incur substantial operating and capital
expenditures at their nuclear plants. In addition, if a serious nuclear incident
were to occur at an FPL or NextEra Energy Resources plant, it could result in
substantial costs. A major incident at a nuclear facility anywhere in the world
could cause the NRC to limit or prohibit the operation or licensing of any
domestic nuclear unit.
* In addition, potential terrorist threats and increased public scrutiny of
utilities could result in increased nuclear licensing or compliance costs which
are difficult or impossible to predict.

The construction of, and capital improvements to, power generation and
transmission facilities involve substantial risks.Should construction or capital
improvement efforts be unsuccessful or delayed, the results of operations and
financial condition of FPL Group and FPL could be adversely affected.

* The ability of FPL Group and FPL to complete construction of, and capital
improvement projects for, their power generation and transmission facilities on
schedule and within budget are contingent upon many variables that could delay
completion, increase costs or otherwise adversely affect operational and
financial results, including, for example, limitations related to transmission
interconnection issues, escalating costs for materials and labor and
environmental compliance, delays with respect to permits and other approvals,
and disputes involving third parties, and are subject to substantial risks.
Should any such efforts be unsuccessful or delayed, FPL Group and FPL could be
subject to additional costs, termination payments under committed contracts,
loss of tax credits and/or the write-off of their investment in the project or
improvement.

The use of derivative contracts by FPL Group and FPL in the normal course of
business could result in financial losses or the payment of margin cash
collateral that adversely impact the results of operations or cash flows of FPL
Group and FPL.

* FPL Group and FPL use derivative instruments, such as swaps, options, futures
and forwards, some of which are traded in the over-the-counter markets or on
exchanges, to manage their commodity and financial market risks, and for FPL
Group to engage in trading and marketing activities. FPL Group could recognize
financial losses as a result of volatility in the market values of these
derivative instruments, or if a counterparty fails to perform or make payments
under these derivative instruments and could suffer a reduction in operating
cash flows as a result of the requirement to post margin cash collateral. In the
absence of actively quoted market prices and pricing information from external
sources, the valuation of these derivative instruments involves management's
judgment or use of estimates. As a result, changes in the underlying assumptions
or use of alternative valuation methods could affect the reported fair value of
these derivative instruments. In addition, FPL's use of such instruments could
be subject to prudence challenges and, if found imprudent, cost recovery could
be disallowed by the FPSC.
* FPL Group provides full energy and capacity requirement services, which
include load-following services and various ancillary services, primarily to
distribution utilities to satisfy all or a portion of such utilities` power
supply obligations to their customers. The supply costs for these transactions
may be affected by a number of factors, such as weather conditions, fluctuating
prices for energy and ancillary services, and the ability of the distribution
utilities` customers to elect to receive service from competing suppliers, which
could negatively affect FPL Group`s results of operations from these
transactions.

FPL Group's competitive energy business is subject to risks, many of which are
beyond the control of FPL Group, including, but not limited to, the efficient
development and operation of generating assets, the successful and timely
completion of project restructuring activities, the price and supply of fuel and
equipment, transmission constraints, competition from other generators,
including those using new sources of generation, excess generation capacity and
demand for power, that may reduce the revenues and adversely impact the results
of operations and financial condition of FPL Group.

* There are various risks associated with FPL Group's competitive energy
business. In addition to risks discussed elsewhere, risk factors specifically
affecting NextEra Energy Resources' success in competitive wholesale markets
include, for example, the ability to efficiently develop and operate generating
assets, the successful and timely completion of project restructuring
activities, maintenance of the qualifying facility status of certain projects,
the price and supply of fuel (including transportation) and equipment,
transmission constraints, the ability to utilize production tax credits,
competition from other and new sources of generation, excess generation capacity
and shifting demand for power. There can be significant volatility in market
prices for fuel, electricity and renewable and other energy commodities, and
there are other financial, counterparty and market risks that are beyond the
control of NextEra Energy Resources. NextEra Energy Resources' inability or
failure to effectively hedge its assets or positions against changes in
commodity prices, interest rates, counterparty credit risk or other risk
measures could significantly impair FPL Group's future financial results. In
keeping with industry trends, a portion of NextEra Energy Resources' power
generation facilities operate wholly or partially without long-term power
purchase agreements. As a result, power from these facilities is sold on the
spot market or on a short-term contractual basis, which may increase the
volatility of FPL Group's financial results. In addition, NextEra Energy
Resources' business depends upon power transmission and natural gas
transportation facilities owned and operated by others; if transmission or
transportation is disrupted or capacity is inadequate or unavailable, NextEra
Energy Resources' ability to sell and deliver its wholesale power or natural gas
may be limited.

FPL Group's ability to successfully identify, complete and integrate
acquisitions is subject to significant risks, including, but not limited to, the
effect of increased competition for acquisitions resulting from the
consolidation of the power industry.

* FPL Group is likely to encounter significant competition for acquisition
opportunities that may become available as a result of the consolidation of the
power industry in general. In addition, FPL Group may be unable to identify
attractive acquisition opportunities at favorable prices and to complete and
integrate them successfully and in a timely manner.

FPL Group and FPL participate in markets that are often subject to uncertain
economic conditions, which makes it difficult to estimate growth, future income
and expenditures.

* FPL Group and FPL participate in markets that are susceptible to uncertain
economic conditions, which complicate estimates of revenue growth. Because
components of budgeting and forecasting are dependent upon estimates of revenue
growth in the markets FPL Group and FPL serve, the uncertainty makes estimates
of future income and expenditures more difficult. As a result, FPL Group and FPL
may make significant investments and expenditures but never realize the
anticipated benefits, which could adversely affect results of operations. The
future direction of the overall economy also may have a significant effect on
the overall performance and financial condition of FPL Group and FPL.

Customer growth and customer usage in FPL's service area affect FPL Group's and
FPL's results of operations.

* FPL Group's and FPL's results of operations are affected by the growth in
customer accounts in FPL's service area and by customer usage. Customer growth
can be affected by population growth. Customer growth and customer usage can be
affected by economic factors in Florida and elsewhere, including, for example,
job and income growth, housing starts and new home prices. Customer growth and
customer usage directly influence the demand for electricity and the need for
additional power generation and power delivery facilities at FPL.

Weather affects FPL Group's and FPL's results of operations, as can the impact
of severe weather.Weather conditions directly influence the demand for
electricity and natural gas, affect the price of energy commodities, and can
affect the production of electricity at power generating facilities.

* FPL Group's and FPL's results of operations are affected by changes in the
weather. Weather conditions directly influence the demand for electricity and
natural gas, affect the price of energy commodities, and can affect the
production of electricity at power generating facilities, including, but not
limited to, wind, solar and hydro-powered facilities. FPL Group's and FPL's
results of operations can be affected by the impact of severe weather which can
be destructive, causing outages and/or property damage, may affect fuel supply,
and could require additional costs to be incurred. At FPL, recovery of these
costs is subject to FPSC approval.

Adverse capital and credit market conditions may adversely affect FPL Group's
and FPL's ability to meet liquidity needs, access capital and operate and grow
their businesses, and increase the cost of capital.Disruptions, uncertainty or
volatility in the financial markets can also adversely impact the results of
operations and financial condition of FPL Group and FPL, as well as exert
downward pressure on the market price of FPL Group's common stock.

* Having access to the credit and capital markets, at a reasonable cost, is
necessary for FPL Group and FPL to fund their operations, including their
capital requirements. Those markets have provided FPL Group and FPL with the
liquidity to operate and grow their businesses that is not otherwise provided
from operating cash flows. Disruptions, uncertainty or volatility in those
markets can increase FPL Group`s and FPL`s cost of capital. If FPL Group and FPL
are unable to access the credit and capital markets on terms that are
reasonable, they may have to delay raising capital, issue shorter-term
securities and/or bear an unfavorable cost of capital, which, in turn, could
adversely impact their ability to grow their businesses, decrease earnings,
significantly reduce financial flexibility and/or limit FPL Group`s ability to
sustain its current common stock dividend level.
* The market price and trading volume of FPL Group`s common stock could be
subject to significant fluctuations due to, among other things, general stock
market conditions and changes in market sentiment regarding FPL Group and its
subsidiaries` operations, business, growth prospects and financing strategies.

FPL Group`s, FPL Group Capital`s and FPL`s inability to maintain their current
credit ratings may adversely affect FPL Group`s and FPL`s liquidity, limit the
ability of FPL Group and FPL to grow their businesses, and would likely increase
interest costs.

* FPL Group and FPL rely on access to capital and credit markets as significant
sources of liquidity for capital requirements not satisfied by operating cash
flows. The inability of FPL Group, FPL Group Capital and FPL to maintain their
current credit ratings could affect their ability to raise capital or obtain
credit on favorable terms, which, in turn, could impact FPL Group`s and FPL`s
ability to grow their businesses and would likely increase their interest
costs.

FPL Group and FPL are subject to credit and performance risk from third parties
under supply and service contracts.

* FPL Group and FPL rely on contracts with vendors for the supply of equipment,
materials, fuel and other goods and services required for the construction and
operation of, and for capital improvements to, their facilities, as well as for
business operations. If vendors fail to fulfill their contractual obligations,
FPL Group and FPL may need to make arrangements with other suppliers, which
could result in higher costs, untimely completion of power generation facilities
and other projects, and/or a disruption to their operations.

FPL Group and FPL are subject to costs and other potentially adverse effects of
legal and regulatory proceedings, as well as regulatory compliance and changes
in or additions to applicable tax laws, rates or policies, rates of inflation,
accounting standards, securities laws, corporate governance requirements and
labor and employment laws.

* FPL Group and FPL are subject to costs and other potentially adverse effects
of legal and regulatory proceedings, settlements, investigations and claims, as
well as regulatory compliance and the effect of new, or changes in, tax laws,
rates or policies, rates of inflation, accounting standards, securities laws,
corporate governance requirements and labor and employment laws.
* FPL and NextEra Energy Resources, as owners and operators of bulk power
transmission systems and/or critical assets within various regions throughout
the United States, are subject to mandatory reliability standards promulgated by
the North American Electric Reliability Corporation and enforced by the Federal
Energy Regulatory Commission. These standards, which previously were being
applied on a voluntary basis, became mandatory in June 2007. Noncompliance with
these mandatory reliability standards could result in sanctions, including
substantial monetary penalties, which likely would not be recoverable from
customers.

Threats of terrorism and catastrophic events that could result from terrorism,
cyber attacks, or individuals and/or groups attempting to disrupt FPL Group's
and FPL's business may impact the operations of FPL Group and FPL in
unpredictable ways.

* FPL Group and FPL are subject to direct and indirect effects of terrorist
threats and activities, as well as cyber attacks and disruptive activities of
individuals and/or groups. Infrastructure facilities and systems, including, for
example, generation, transmission and distribution facilities, physical assets
and information systems, in general, have been identified as potential targets.
The effects of these threats and activities include, but are not limited to, the
inability to generate, purchase or transmit power, the delay in development and
construction of new generating facilities, the risk of a significant slowdown in
growth or a decline in the U.S. economy, delay in economic recovery in the
United States, and the increased cost and adequacy of security and insurance.

The ability of FPL Group and FPL to obtain insurance and the terms of any
available insurance coverage could be adversely affected by international,
national, state or local events and company-specific events.

* FPL Group's and FPL's ability to obtain insurance, and the cost of and
coverage provided by such insurance, could be adversely affected by
international, national, state or local events as well as company-specific
events.

FPL Group and FPL are subject to employee workforce factors that could adversely
affect the businesses and financial condition of FPL Group and FPL.

* FPL Group and FPL are subject to employee workforce factors, including, for
example, loss or retirement of key executives, availability of qualified
personnel, inflationary pressures on payroll and benefits costs and collective
bargaining agreements with union employees and work stoppage that could
adversely affect the businesses and financial condition of FPL Group and FPL.

The risks described herein are not the only risks facing FPL Group and FPL.
Additional risks and uncertainties also may materially adversely affect FPL
Group's or FPL's business, financial condition and/or future operating results.

Florida Power & Light Company
Jackie Anderson, 305-552-3888

Copyright Business Wire 2009