NEXTERA ENERGY (NEE) Company Report

The Florida Public Service Commission approved a stipulation and settlement in FPL’s base rate proceeding, establishing a rate plan effective January 2026 through December 2029.
New retail base rates will raise $945 million in annualized revenues beginning January 1, 2026 and $705 million beginning January 1, 2027.
FPL’s authorized regulatory return on equity is 10.95% (range 9.95%–11.95%), with a 59.6% equity ratio in its capital structure.
The agreement includes a Solar and Battery Base Rate Adjustment mechanism for qualifying projects and a rate stabilization mechanism encompassing up to $1.155 billion of deferred tax liabilities and related reserves.
Storm restoration costs will be recoverable on an interim basis with a surcharge cap of $5 per 1,000 kWh for residential customers, and new large‐load tariffs for customers ≥50 MW with ≥85% load factor are authorized.

17 hours ago

8-K

NextEra Energy’s FPL wins Florida PSC approval for 2026–2029 rate plan

NEE

New Projects/Investments

Florida Public Service Commission approved a four-year rate agreement for 2026–2029, enabling FPL to pursue grid investments while keeping customer bills below the national average.
In 2026, the typical 1,000-kWh residential bill rises by $2.50 (about 2%) to $136.64, with Northwest Florida remaining flat at $141.36.
FPL expects to add 335,000 new customers by 2029, supporting necessary power generation and battery storage expansion.
FPL’s reliability is currently 59% better than the national average, underpinned by continued smart-grid investments to reduce outages.

23 hours ago

Press Release

NextEra Energy affiliate CleanCounts affirms nuclear energy tracking commitment

NEE

Product Launch

CleanCounts, North America’s largest clean energy registry, affirmed its commitment to track nuclear Energy Attribute Certificates (EACs) and issued its two billionth EAC.
CleanCounts began issuing nuclear EACs in 2023, enabling tracking and certificate issuance in 28 U.S. states with nuclear power facilities and for major Canadian plants.
The announcement underscores nuclear’s role in decarbonizing the grid, highlighting Google’s 25-year PPA with NextEra Energy to restart the 600 MW Duane Arnold Energy Center in 2029, among other sector developments.

Nov 13, 2025, 1:01 PM

Press Release

NextEra Energy issues €2.5B in junior subordinated debentures

NEE

Debt Issuance

NextEra Energy Capital Holdings, a wholly-owned subsidiary of NextEra Energy, sold €1.25 billion of Series V and €1.25 billion of Series W Junior Subordinated Debentures due May 15, 2056.
Series V Debentures carry a 3.996% fixed interest rate until May 15, 2031, then reset every five years to the Five-Year Swap Rate plus a margin (margin steps up in 2036 & 2051).
Series W Debentures carry a 4.496% fixed interest rate until May 15, 2034, then reset every five years to the Five-Year Swap Rate plus a margin (margin steps up in 2039 & 2054).
Both series are subordinated obligations guaranteed by NextEra Energy and are callable by NEECH starting in 2031 (Series V) and 2034 (Series W).

Nov 12, 2025, 8:42 PM

8-K

New Era Energy & Digital enters land option purchase deal for 7GW AI data center hub

NEE

New Projects/Investments

New Era Energy & Digital signed a land option purchase agreement for 3,500 acres in Lea County, New Mexico, to develop a 7 GW AI data center campus with over 2 GW of natural gas generation and a planned 5 GW+ nuclear installation.
The project is New Era’s first wholly owned development, separate from its Texas Critical Data Centers joint venture, with initial power delivery targeted for 2028.
Site selection leverages proximity to major gas transmission lines, existing power infrastructure, abundant water supply, skilled workforce, and high-speed fiber; engineering work is set to begin within 30 days, with gas availability confirmed and nuclear technology selection in final stages.
New Era will offer powered shell buildings and powered land leases to AI-focused tenants via its vertically integrated model to lower costs and accelerate deployment timelines.

Nov 6, 2025, 12:00 PM

Press Release

Diversified Energy reports strong Q3 2025 results and raises 2025 guidance

NEE

Earnings

Guidance Update

Dividends

Diversified delivered $500 million in total revenue, $286 million of adjusted EBITDA (a record quarterly result), and $144 million of adjusted free cash flow in 3Q 2025.
The company raised full-year 2025 guidance, increasing adjusted EBITDA to $900–925 million (from $825–875 million) and adjusted free cash flow to ~$440 million (from ~$420 million).
Net debt-to-adjusted EBITDA leverage improved to 2.4x (a ~20% YTD reduction) while returning a record $146 million to shareholders through dividends and buybacks, including a $0.29 per share Q3 dividend.
Average production was 1,127 MMcfepd with a September exit rate of 1,144 MMcfepd, and the Canvas Energy acquisition is on track to close in Q4 2025 to bolster Oklahoma operations.

Nov 3, 2025, 9:15 PM

Press Release

NuScale Power backs ENTRA1 Energy in $25 billion infrastructure agreement

NEE

New Projects/Investments

NuScale Power (NYSE: SMR) and global partner ENTRA1 Energy signed a $25 billion investment agreement under a $55 billion US–Japan framework to deploy large-scale power infrastructure across the US.
The funding will support expansion of critical energy assets—covering AI data centers, manufacturing, and defense power needs—to strengthen energy security and accelerate clean baseload generation.
ENTRA1 Energy plans to develop up to 4 GW of new clean baseload power plants using NuScale’s SMR technology in partnership with the Tennessee Valley Authority (TVA).
CEO John Hopkins highlighted that this collaboration leverages NRC-approved SMR technology to rapidly advance reliable, carbon-free power and bolster US energy independence.

Oct 31, 2025, 3:44 AM

Press Release

NuScale Power supports $25B ENTRA1 Energy framework deal

NEE

New Projects/Investments

ENTRA1 Energy, NuScale’s global strategic partner, signed a $25 billion US–Japan framework agreement to secure up to $25 billion for deploying large-scale power infrastructure across the U.S.
The agreement is expected to mobilize up to $55 billion of public and private investment to expand key energy infrastructure and strengthen supply chains
Under a parallel deal with the TVA, ENTRA1 Energy will deploy NuScale’s SMR technology to develop up to 6 GWe of new, clean modular nuclear capacity
NuScale CEO John Hopkins noted the collaboration will accelerate clean energy deployment, support AI, manufacturing and defense energy needs, and create thousands of U.S. jobs

Oct 31, 2025, 1:01 AM

Press Release

NextEra Energy reports Q3 2025 results

NEE

Earnings

Guidance Update

New Projects/Investments

Adjusted EPS increased 9.7% YoY, with FPL EPS up $0.08 driven by ~8% regulatory capital growth; FPL capex ~$2.5 B in Q3 and full-year guidance of $9.3–9.8 B; Q3 retail sales down 1.8% (weather-normalized +1.9%), regulatory ROE ~11.7% for 12 months ended Sept 2025
Energy Resources’ adjusted EPS grew ~13% YoY, led by $0.09/share from new investments; wind resources at 90% of long-term average; added 3 GW to backlog (now nearly 30 GW), including record 1.9 GW of battery storage
Entered a 25-year PPA with Google to restart the 615 MW Duane Arnold nuclear plant by Q1 2029 (earliest Q4 2028), acquiring the remaining 30% stake and targeting a 10% production tax credit bonus; expected to contribute up to $0.16 of annual EPS over first 10 years
Reaffirmed 2025–2027 guidance, expecting average annual operating cash flow growth at or above EPS CAGR (2023–2027) and ~10% dividend growth through at least 2026, with a focus on delivering results at the top of ranges

Oct 28, 2025, 1:00 PM

Transcript

NextEra Energy reports Q3 2025 results and strategic updates

NEE

Earnings

New Projects/Investments

Guidance Update

NextEra Energy reported 9.7% y/y growth in Q3 adjusted EPS and 9.3% y/y growth in the first nine months; reaffirmed expectations for 2025–2027 adjusted EPS growth near the top of its range and ~10% annual dividend growth through 2026.
Florida Power & Light’s Q3 EPS rose $0.08 y/y on 8% regulatory capital growth, with $2.5 B of Q3 CapEx (FY guide: $9.3–$9.8 B), ~11.7% regulatory ROE, and retail sales weather-normalized +1.9% y/y.
NextEra Energy Resources delivered 13% y/y adjusted earnings growth in Q3 (EPS +$0.06), added 3 GW to its development backlog (now ~30 GW), including a record 1.9 GW of battery storage, marking the sixth consecutive quarter of ≥3 GW additions.
FPL’s proposed four-year rate settlement would invest ~$40 B in solar (5.3 GW), battery storage (3.4 GW) and gas peaking; allow a 10.95% midpoint ROE (9.95–11.95% range); maintain a 59.6% equity ratio; and cap residential bill increases at ~2% p.a. through 2029 (decision expected Nov 20).
Entered a 25-year PPA with Google to recommission the 615 MW Duane Arnold nuclear plant by Q1 2029, acquiring the remaining 30% stake via decommissioning liability assumption; project to support Google’s cloud/AI hub, create 1,600 jobs and add >$9 B in local investment.

Oct 28, 2025, 1:00 PM

Transcript

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