Profile: NextEra Energy Inc (NEE.N)
8 Dec 2016
NextEra Energy, Inc. (NEE), incorporated on September 10, 1984, is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE's operating segments are FPL, an electric utility, and NEER, an energy business. NEE provides retail and wholesale electric services to over 5.3 million customers, and owns generation, transmission and distribution facilities to support its services, as well as has investments in gas infrastructure assets. The Company also provides risk management services related to power and gas consumption related to its own generation assets and for a limited number of wholesale customers in selected markets. NEE also generates renewable energy from the wind and sun. NEE also owns and operates eight reactors at five sites located in four states of the United States. The Company conducts its operations through two subsidiaries, Florida Power & Light Company (FPL) and NextEra Energy Resources, LLC (NEER). NextEra Energy Capital Holdings, Inc. (NEECH), another subsidiary of NEE, owns and provides funding for NEER's and NEE's operating subsidiaries, other than FPL and its subsidiaries.
FPL is an electric utility engaged primarily in the generation, transmission, distribution and sale of electric energy in Florida. FPL is vertically integrated, with approximately 25,300 megawatts (MW) of generating capacity. It supplies electric service across the east and lower west coasts of Florida, serving approximately 9.5 million people through approximately 4.8 million customer accounts. FPL provides service to its customers through an integrated transmission and distribution system that links its generation facilities to its customers. FPL also maintains interconnection facilities with neighboring utilities and non-utility generators inside its service territory, enabling it to buy and sell wholesale electricity and to enhance the reliability of its own network and support the reliability of neighboring networks. FPL's transmission system carries high voltage electricity from its generating facilities to substations where the electricity is stepped down to lower voltage levels and is sent through the distribution system to its customers.
FPL owns and operates 70 units that used fossil fuels, primarily natural gas, and also holds interest in over three coal units. The fossil fleet provides over 21,766 MW of generating capacity for FPL. FPL owns, or has undivided interests in, and operates its nuclear units with a total net generating capacity of approximately 3,453 MW. FPL owns and operates over two solar photovoltaic (PV) generating facilities, which provide a total of approximately 35 MW of generation capacity, and an approximately 75 MW solar thermal hybrid facility. FPL also purchases power and capacity from non-utility generators and other utilities to meet customer demand through long-term purchased power agreements. FPL's Energy Marketing & Trading division (EMT) buys and sells wholesale energy commodities, such as natural gas, oil and electricity. EMT procures natural gas and oil for FPL's use in power generation and sells excess natural gas, oil and electricity.
NEER owns, develops, constructs, manages and operates electric generating facilities in wholesale energy markets primarily in the United States, as well as in Canada and Spain. NEER is a wholesale generator of electric power in the United States, with approximately 21,150 MW of generating capacity across over 25 states, over four Canadian provinces and approximately one Spanish province. NEER is a generator of electric power from wind and utility-scale solar energy projects in North America. NEER's operations also include the gas infrastructure business and the customer supply, and power and gas trading businesses. The gas infrastructure business includes non-operating ownership interests in investments located in oil and gas shale formations primarily in the Midwest and South regions of the United States. NEER has ownership interests in wind generating facilities with a total generating capacity of 14,410 MW. NEER operates all of these wind facilities, which are located in over 20 states of the United States and approximately four provinces in Canada.
NEER engages in energy-related commodity marketing and trading activities, including entering into financial and physical contracts, to hedge the production from its generating assets that is not sold under long-term power supply agreements. These activities primarily include power and gas commodities and their related products, as well as providing energy and capacity requirements services primarily to distribution utilities in certain markets and offering customized power and gas and related risk management services to wholesale customers. It also participates in natural gas, natural gas liquids and oil production through non-operating ownership interests, and in pipeline infrastructure development, construction, management and operations, through either subsidiaries or noncontrolling or joint venture interests. NEER's portfolio of merchant assets consist of approximately 6,820 MW of owned wind, nuclear, natural gas, oil and solar generating facilities, including over 850 MW of peak generating facilities. NEER holds interest in and operates natural gas facilities with net generating capacity of approximately 4,080 MW. NEER owns, or has undivided interests in, and operates the four nuclear units (Seabrook, Duane Arnold, Point Beach Unit No. 1 and Point Beach Unit No. 2) with a total net generating capacity of approximately 2,720 MW. NEER holds interest in PV and solar thermal facilities with a total net generating capacity of over 1,030 MW.
Other NEE Operating Subsidiaries
The Corporate and Other represents other business activities, primarily NextEra Energy Transmission, LLC (NEET) and FPL FiberNet. NEET is a subsidiary of NEECH. Through its subsidiaries, NEET owns and operates transmission facilities, which is owned by Lone Star Transmission, LLC (Lone Star), and is pursuing opportunities to develop, build and operate new transmission facilities across North America. Lone Star is a transmission service provider in Texas. Lone Star owns and operates approximately 330 miles of over 345 kilovolt (kV) transmission lines and other associated facilities. FPL FiberNet conducts its business through two subsidiaries of NEECH. FPL FiberNet leases fiber-optic network capacity and dark fiber to FPL and other customers, primarily telephone, wireless and Internet companies. FPL FiberNet's networks cover the metropolitan areas in Florida and various areas in Texas. FPL FiberNet's network consists of approximately 9,230 route miles.
NextEra Energy Inc
700 Universe Blvd
JUNO BEACH FL 33408-2657