As FPL continues to reduce oil consumption by investing in natural gas power plants, the company issues RFP to bring third major natural gas pipeline into Florida

Wed Dec 19, 2012 2:00pm EST

* Reuters is not responsible for the content in this press release.

For best results when printing this announcement, please click on the link
below:

http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20121219:nPnFL32567












JUNO BEACH, Fla., Dec. 19, 2012 /PRNewswire/ -- Florida Power & Light Company
today issued a request for proposals (RFP) to build a third major natural gas
pipeline to serve Florida.

(Logo:  http://photos.prnewswire.com/prnh/20120301/FL62738LOGO  )

Over the past decade, FPL has reduced its use of oil by 98 percent by investing
in new, highly efficient power plants that use clean, U.S.-produced natural gas
as a fuel to produce electricity. In 2001, FPL used more than 40 million barrels
of oil to power customers; in 2012, the company will use less than one million
barrels.

With the two existing major natural gas pipelines serving peninsular Florida
nearing full capacity, the state needs new natural gas transportation
infrastructure by 2017 to meet the growing need for natural gas power. A new
major natural gas pipeline will also improve the reliability of the state's
critical fuel transportation system and expand the state's access to onshore
sources, helping reduce exposure to offshore sources in the  Gulf of Mexico  and
supply interruptions caused by tropical weather.

"Replacing foreign oil with natural gas makes good sense for Florida and the
nation. It has saved FPL customers billions of dollars in fuel costs. It also
provides significant environmental benefits by lowering emissions. However, as
we continue to increase our use of U.S.-produced natural gas and as the needs of
the state's residents and businesses grow, we can't rely solely on the two major
pipelines that currently serve the state. A new, third pipeline system that
includes a hub to interconnect all three pipeline systems in  Central Florida 
is essential for the continued reliability and security of the state's supply,"
said FPL President  Eric Silagy.

Florida uses more natural gas for electricity than any U.S. state other than 
Texas, with about 60 percent of Floridians' power generated by plants that burn
natural gas. But, unlike  Texas, Florida has minimal natural gas production, no
storage capabilities and only two major pipelines to deliver the fuel necessary
to power the peninsula's residents and businesses.

In addition to meeting demand for additional natural gas and mitigating risk,
building a new pipeline will generate thousands of jobs during construction and
millions of dollars in new tax revenue for local schools and governments.

FPL is currently investing to modernize three old, oil and gas-fired power
plants into high-efficiency natural gas energy centers that will be
approximately 33 percent more efficient and 90 percent cleaner than the
facilities they replace. The three new plants being built are projected to
effectively pay for themselves over their operational lifetimes with more than 
$1 billion  in net customer savings compared with any other available generation
options to meet future needs. The net customer savings reflect the expected
savings from the plants' advanced fuel efficiency. FPL believes a new pipeline
is the best option to fuel these and FPL's existing natural gas plants in the
near future as the electricity needs of FPL's customers grow.

The proposed new "Southeast Pipeline" will provide 400,000 MMBtu per day, or
approximately 400 million cubic feet per day, of natural gas capacity for FPL
beginning in 2017, increasing in capacity in future years. It will be composed
of two segments:

* The "Florida Interstate Connection" and "Central Florida Hub" comprise the
upstream pipeline project, which will originate at an existing hub in western 
Alabama, run east and then south, ending at a new hub to be built in  Central
Florida  that will allow the new pipeline to interconnect with Florida's
existing pipeline systems.  
* The "Florida Southeast Connection" is the downstream pipeline project, which
will originate at the new Central Florida Hub and connect with FPL's system in 
Martin County, Fla.

Approximately four-fifths of the roughly 700-mile distance from western  Alabama
 to FPL's  Martin County  plant would be covered by the upstream Florida
Interstate Connection segment with the other one-fifth covered by the downstream
Florida Southeast Connection segment. Interested companies can bid on one or
both of the segments. The specific routes will be selected and proposed by
companies submitting bids. FPL will oversee a fair, competitive RFP evaluation
process that will select the best option or options for FPL customers.

As part of the evaluation process, FPL plans to consider a self-build
alternative for the downstream Florida Southeast Connection segment. The
self-build alternative, if found to be in the best interest of FPL customers,
would be owned and operated by a NextEra Energy, Inc. company. No consideration
is being given to an FPL self-build alternative for the upstream Florida
Interstate Connection and Central Florida Hub portion. However, the cost to
build a pipeline project of this size will be substantial, and the completion
schedule is critical. To facilitate timely construction, NextEra Energy will be
prepared to discuss financial involvement in support of a selected option. FPL
customers would not provide funding nor see their bills impacted by this in any
way.

For more information on the project, visit  www.FPL.com/naturalgaspipeline.

Florida Power  & Light Company

Florida Power  & Light Company is the largest electric utility in  Florida  and
one of the largest rate-regulated utilities in  the United States. FPL serves
approximately 4.6 million customer accounts and is a leading Florida employer
with approximately 10,000 employees. The company consistently outperforms
national averages for service reliability while its typical residential customer
bills, based on data available in  December 2011, are about 25 percent below the
national average. A clean energy leader, FPL has one of the lowest emissions
profiles and one of the leading energy efficiency programs among utilities
nationwide. FPL is a subsidiary of  Juno Beach, Fla.-based NextEra Energy, Inc.
(NYSE: NEE). For more information, visit  www.FPL.com.

Cautionary Statements and Risk Factors That May Affect Future Results



This press release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are not statements of historical facts, but
instead represent the current expectations of NextEra Energy, Inc. (NextEra
Energy) and  Florida Power  & Light Company (FPL) regarding future operating
results and other future events, many of which, by their nature, are inherently
uncertain and outside of NextEra Energy's and FPL's control. In some cases, you
can identify the forward-looking statements by words or phrases such as "will,"
"will likely result," "expect," "anticipate," "believe," "intend," "plan,"
"seek," "aim," "potential," "projection," "forecast," "predict," "goals,"
"target," "outlook," "should," "would" or similar words or expressions. You
should not place undue reliance on these forward-looking statements, which are
not a guarantee of future performance. The future results of NextEra Energy and
FPL are subject to risks and uncertainties that could cause their actual results
to differ materially from those expressed or implied in the forward-looking
statements. These risks and uncertainties include, but are not limited to, the
following: effects of extensive regulation of NextEra Energy's and FPL's
business operations; inability of NextEra Energy and FPL to recover in a timely
manner any significant amount of costs, a return on certain assets or an
appropriate return on capital through base rates, cost recovery clauses, other
regulatory mechanisms or otherwise; impact of political, regulatory and economic
factors on regulatory decisions important to NextEra Energy and FPL; risks of
disallowance of cost recovery by FPL based on a finding of imprudent use of
derivative instruments; effect of any reductions to or elimination of
governmental incentives that support renewable energy projects of NextEra Energy
Resources, LLC and its affiliated entities (NextEra Energy Resources); impact of
new or revised laws, regulations or interpretations or other regulatory
initiatives on NextEra Energy and FPL; effect on NextEra Energy and FPL of
potential regulatory action to broaden the scope of regulation of OTC financial
derivatives and to apply such regulation to NextEra Energy and FPL; capital
expenditures, increased cost of operations and exposure to liabilities
attributable to environmental laws and regulations applicable to NextEra Energy
and FPL; effects on NextEra Energy and FPL of federal or state laws or
regulations mandating new or additional limits on the production of greenhouse
gas emissions; exposure of NextEra Energy and FPL to significant and increasing
compliance costs and substantial monetary penalties and other sanctions as a
result of extensive federal regulation of their operations; effect on NextEra
Energy and FPL of changes in tax laws and in judgments and estimates used to
determine tax-related asset and liability amounts; impact on NextEra Energy and
FPL of adverse results of litigation; effect on NextEra Energy and FPL of
failure to proceed with projects under development or inability to complete the
construction of (or capital improvements to) electric generation, transmission
and distribution facilities, gas infrastructure facilities or other facilities
on schedule or within budget; impact on development and operating activities of
NextEra Energy and FPL resulting from risks related to project siting,
financing, construction, permitting, governmental approvals and the negotiation
of project development agreements; risks involved in the operation and
maintenance of electric generation, transmission and distribution facilities,
gas infrastructure facilities and other facilities; effect on NextEra Energy and
FPL of a lack of growth or slower growth in the number of customers or in
customer usage; impact on NextEra Energy and FPL of severe weather and other
weather conditions; risks associated with threats of terrorism and catastrophic
events that could result from terrorism, cyber attacks or other attempts to
disrupt NextEra Energy's and FPL's business or the businesses of third parties;
risk of lack of availability of adequate insurance coverage for protection of
NextEra Energy and FPL against significant losses; risk to NextEra Energy
Resources of increased operating costs resulting from unfavorable supply costs
necessary to provide NextEra Energy Resources' full energy and capacity
requirement services; inability or failure by NextEra Energy Resources to hedge
effectively its assets or positions against changes in commodity prices,
volumes, interest rates, counterparty credit risk or other risk measures;
potential volatility of NextEra Energy's results of operations caused by sales
of power on the spot market or on a short-term contractual basis; effect of
reductions in the liquidity of energy markets on NextEra Energy's ability to
manage operational risks; effectiveness of NextEra Energy's and FPL's hedging
and trading procedures and associated risk management tools to protect against
significant losses; impact of unavailability or disruption of power transmission
or commodity transportation facilities on sale and delivery of power or natural
gas by FPL and NextEra Energy Resources; exposure of NextEra Energy and FPL to
credit and performance risk from customers, hedging counterparties and vendors;
risks to NextEra Energy and FPL of failure of counterparties to perform under
derivative contracts or of requirement for NextEra Energy and FPL to post margin
cash collateral under derivative contracts; failure or breach of NextEra
Energy's and FPL's information technology systems; risks to NextEra Energy and
FPL's retail businesses of compromise of sensitive customer data; risks to
NextEra Energy and FPL of volatility in the market values of derivative
instruments and limited liquidity in OTC markets; impact of negative publicity;
inability of NextEra Energy and FPL to maintain, negotiate or renegotiate
acceptable franchise agreements with municipalities and counties in  Florida;
increasing costs of health care plans; lack of a qualified workforce or the loss
or retirement of key employees; occurrence of work strikes or stoppages and
increasing personnel costs; NextEra Energy's ability to successfully identify,
complete and integrate acquisitions; environmental, health and financial risks
associated with NextEra Energy's and FPL's ownership of nuclear generation
facilities; liability of NextEra Energy and FPL for significant retrospective
assessments and/or retrospective insurance premiums in the event of an incident
at certain nuclear generation facilities; increased operating and capital
expenditures at nuclear generation facilities of NextEra Energy or FPL resulting
from orders or new regulations of the Nuclear Regulatory Commission; inability
to operate any of NextEra Energy Resources' or FPL's owned nuclear generation
units through the end of their respective operating licenses; liability of
NextEra Energy and FPL for increased nuclear licensing or compliance costs
resulting from hazards posed to their owned nuclear generation facilities; risks
associated with outages of NextEra Energy's and FPL's owned nuclear units;
effect of disruptions, uncertainty or volatility in the credit and capital
markets on NextEra Energy's and FPL's ability to fund their liquidity and
capital needs and meet their growth objectives; inability of NextEra Energy, FPL
and NextEra Energy Capital Holdings, Inc. to maintain their current credit
ratings; risk of impairment of NextEra Energy's and FPL's liquidity from
inability of creditors to fund their credit commitments or to maintain their
current credit ratings; poor market performance and other economic factors that
could affect NextEra Energy's and FPL's defined benefit pension plan's funded
status; poor market performance and other risks to the asset values of NextEra
Energy's and FPL's nuclear decommissioning funds; changes in market value and
other risks to certain of NextEra Energy's investments; effect of inability of
NextEra Energy subsidiaries to upstream dividends or repay funds to NextEra
Energy or of NextEra Energy's performance under guarantees of subsidiary
obligations on NextEra Energy's ability to meet its financial obligations and to
pay dividends on its common stock; and effect of disruptions, uncertainty or
volatility in the credit and capital markets of the market price of NextEra
Energy's common stock. NextEra Energy and FPL discuss these and other risks and
uncertainties in their annual report on Form 10-K for the year ended  December
31, 2011  and other SEC filings, and this press release should be read in
conjunction with such SEC filings made through the date of this press release.
The forward-looking statements made in this press release are made only as of
the date of this press release and NextEra Energy and FPL undertake no
obligation to update any forward-looking statements.

SOURCE   Florida Power  & Light Co.


Florida Power & Light Co., Media Line: +1-305-552-3888
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.