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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K


CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of earliest event reported:  January 11, 2021
Commission
File
Number 		Exact name of registrants as specified in their
charters, address of principal executive offices and
registrants' telephone number 		IRS Employer
Identification
Number
1-8841 NEXTERA ENERGY, INC. 59-2449419
2-27612 FLORIDA POWER & LIGHT COMPANY 59-0247775
700 Universe Boulevard
Juno Beach, Florida 33408
(561) 694-4000


State or other jurisdiction of incorporation or organization:  Florida

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions:

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Registrants Title of each class Trading Symbol(s) Name of each exchange
on which registered
NextEra Energy, Inc. Common Stock, $0.01 Par Value NEE New York Stock Exchange
4.872% Corporate Units NEE.PRO New York Stock Exchange
5.279% Corporate Units NEE.PRP New York Stock Exchange
6.219% Corporate Units NEE.PRQ New York Stock Exchange
Florida Power & Light Company None

Indicate by check mark whether the registrants are an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



SECTION 7 - REGULATION FD

Item 7.01 Regulation FD Disclosure

On January 11, 2021, Florida Power & Light Company (FPL), a wholly owned subsidiary of NextEra Energy, Inc. (NextEra Energy), issued a news release regarding its intent to initiate a base rate proceeding in March 2021. A copy of the news release is attached as Exhibit 99, which is incorporated herein by reference.


SECTION 8 - OTHER EVENTS

Item 8.01 Other Events

On January 11, 2021, FPL filed a formal notification with the Florida Public Service Commission (FPSC) indicating its intent to initiate a base rate proceeding by submitting a four-year rate plan that would begin in January 2022 replacing the current base rate settlement agreement that has been in place since 2017. As Gulf Power Company legally merged with FPL on January 1, 2021, the notification indicates that the plan will include the total revenue requirements of the combined utility system, reflecting the legal and operational consolidation of Gulf Power Company into FPL. The notification also states that, based on preliminary estimates, FPL expects to request a general base annual revenue requirement increase of approximately $1.1 billion effective January 2022 and a subsequent annual increase of approximately $615 million effective January 2023. The plan is also expected to request authority for a Solar Base Rate Adjustment (SoBRA) mechanism to recover, subject to FPSC review, the revenue requirements of up to 900 megawatts (MW) of solar projects in 2024 and up to 900 MW in 2025. Under the filing, FPL does not expect to request further adjustments to general base annual revenue requirements to be effective before January 2026. If the full amount of new solar capacity allowed under the proposed SoBRA mechanism were constructed, FPL’s preliminary estimate is that it would result in base rate adjustments of approximately $140 million in 2024 and $140 million in 2025. The proposed SoBRA mechanism adjustments would be offset, in part, by a reduction in FPL’s fuel costs. In addition, FPL expects to propose an allowed regulatory return on common equity midpoint of 11.50 percent, which includes a 50 basis point performance incentive. FPL expects to file its formal request to initiate a base rate proceeding in March 2021.


Cautionary Statements and Risk Factors That May Affect Future Results

This Form 8-K 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 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. Forward-looking statements include, among others, statements concerning FPL's plans for requesting new base rates. In some cases, you can identify the forward-looking statements by words or phrases such as “will,” “may result,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “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 and their business and financial condition 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, or may require them to limit or eliminate certain operations. 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 a reasonable return on invested 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; disallowance of cost recovery by FPL based on a finding of imprudent use of derivative instruments; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support utility scale renewable energy projects of NextEra Energy Resources, LLC and its affiliated entities (NextEra Energy Resources) or the imposition of additional tax laws, policies or assessments on renewable energy; impact of new or revised laws, regulations, interpretations or ballot or regulatory initiatives on NextEra Energy and FPL; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards 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 and businesses; effect on NextEra Energy and FPL of changes in tax laws, guidance or policies as well as 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, retail gas distribution system in Florida and other facilities; effect on NextEra Energy and FPL of a lack of growth or slower growth in the number of
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customers or in customer usage; impact on NextEra Energy and FPL of severe weather and other weather conditions; threats of terrorism and catastrophic events that could result from terrorism, cyberattacks or other attempts to disrupt NextEra Energy's and FPL's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy and FPL against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low gas and oil prices could impact NextEra Energy Resources’ gas infrastructure business and cause NextEra Energy Resources to delay or cancel certain gas infrastructure projects and could result in certain projects becoming impaired; 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 manage properly or hedge effectively the commodity risk within its portfolio; 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 risk management tools associated with their hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation facilities on sale and delivery of power or natural gas by NextEra Energy, including FPL; exposure of NextEra Energy and FPL to credit and performance risk from customers, hedging counterparties and vendors; failure of NextEra Energy or FPL counterparties to perform under derivative contracts or of requirement for NextEra Energy or FPL to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's or FPL's information technology systems; risks to NextEra Energy and FPL's retail businesses from compromise of sensitive customer data; losses from 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; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with NextEra Energy Resources’ and FPL's ownership and operation 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 and/or reduced revenues 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; effect of disruptions, uncertainty or volatility in the credit and capital markets or actions by third parties in connection with project-specific or other financing arrangements 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; impairment of NextEra Energy's and FPL's liquidity from inability of credit providers 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 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 pay 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; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; NEP’s inability to access sources of capital on commercially reasonable terms could have an effect on its ability to consummate future acquisitions and on the value of NextEra Energy’s limited partner interest in NextEra Energy Operating Partners, LP; effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock; and the ultimate severity and duration of the coronavirus pandemic and its effects on NextEra Energy’s or FPL’s businesses. 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, 2019 and other SEC filings, and this Form 8-K should be read in conjunction with such SEC filings. The forward-looking statements made in this Form 8-K are made only as of the date of this Form 8-K and NextEra Energy and FPL undertake no obligation to update any forward-looking statements.
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SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01  Financial Statements and Exhibits

(d)  Exhibits.

Exhibit 99 is being furnished pursuant to Item 7.01 herein.
Exhibit
Number 		Description NextEra Energy, Inc. Florida Power & Light Company
99 X X
101 Interactive data files for this Form 8-K formatted in Inline XBRL X X
104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) X X
4


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed by the undersigned thereunto duly authorized.

Date:  January 11, 2021

NEXTERA ENERGY, INC.
(Registrant)


JAMES M. MAY
James M. May
Vice President, Controller and Chief Accounting Officer


FLORIDA POWER & LIGHT COMPANY
(Registrant)


KEITH FERGUSON
Keith Ferguson
Controller

5
Exhibit 99
FPL1A.JPG
Florida Power & Light Company
Media Line: 561-694-4442
Jan. 11, 2021
@FPL_Newsroom

FOR IMMEDIATE RELEASE

FPL envisions a more resilient and sustainable Florida with kickoff of customary base rate setting process for 2022-2025

•FPL delivers America’s best energy value – electricity that’s not just clean and reliable, but also affordable – thanks to consistent and disciplined, long-term investments supported by customer base rates
•The company’s four-year plan is necessary to support continued investments that benefit customers as the company builds a more resilient and sustainable energy future for Florida in the face of climate change and strong, frequent severe weather
•Typical FPL customer bills expected to remain well below the national average through 2025, even with the proposed rate adjustment
•FPL’s 2022-2025 formal base rate request will be a combined filing with Gulf Power Company, which legally merged with FPL on Jan. 1, 2021
•Through the consolidation of FPL and Gulf Power, the typical 1,000-kWh residential customer bill in Northwest Florida is projected to decrease by the end of FPL’s proposed four-year rate plan

JUNO BEACH, Fla. – Florida Power & Light Company (FPL) today notified the Florida Public Service Commission (PSC) that it expects to file a formal request in the coming months for new base rates. The company intends to propose a four-year rate plan that would begin in January 2022, once its current base rate settlement agreement concludes at the end of this year. FPL previously extended operations under the rate agreement by freezing base rates for an additional year through 2021.

FPL now serves 5.6 million customer accounts from Miami to Pensacola across more than half of Florida(1), a rapidly growing state on the front lines of climate change and strong, frequent severe weather. Recognizing this, FPL’s plan will enable the company to continue building a more resilient and sustainable energy future for everyone – including future generations – while keeping typical customer bills lower than the national average through at least 2025.

“Delivering clean, reliable and affordable energy to customers is a duty each of us at FPL takes extremely seriously, particularly during these difficult and challenging times,” said Eric Silagy, president and CEO of FPL. “Providing an essential service to today’s customers comes with the fundamental responsibility to constantly look over the horizon to ensure we’re ready to serve them tomorrow as well. Of course, we’re mindful there’s never a good time to request a rate increase, but we remain steadfastly committed to providing customers unparalleled value for their money while building an energy future they can depend on. To do that, we’re asking for regulatory approval to continue our disciplined, long-term investment strategy in infrastructure, clean energy and other innovative technology that are the foundation of our communities. Over
1)On Jan. 1, 2021, Gulf Power, which serves customers in Northwest Florida, legally combined with FPL. Gulf Power will continue as a separate operating division under the Gulf Power name through 2021.


the past 15 years, we’ve repeatedly demonstrated that this innovative and long-term approach provides customers with lower bills and higher reliability today, and positions Florida for even greater success tomorrow.”

In 2006, FPL’s bill was slightly above the national average but has decreased roughly 10% over the last 15 years while the national average has increased approximately 30% during roughly the same period. FPL’s typical 1,000-kWh residential customer bill is lower today than it was 15 years ago and 30% lower than the national average.

As FPL’s bill has decreased over time, the service it provides customers has consistently and demonstrably improved. FPL’s investments to build a stronger, smarter energy grid has resulted in best-in-state reliability every year since 2006, as well as repeated national recognition. In 2020, FPL received the ReliabilityOne® National Reliability Excellence Award, presented by PA Consulting, for the fifth time in the last six years. Since becoming sister companies with FPL in 2019, Gulf Power has delivered operational and financial benefits for customers, including the company’s best-ever service reliability in 2019. Gulf Power delivered even better reliability in 2020 and earned the 2020 ReliabilityOne® Award for Outstanding Reliability Performance in the Southeast suburban/rural service area. FPL is one of the nation’s cleanest electric utilities, with a modern, state-of-the art fleet of ultra-efficient clean energy centers and a rapidly growing portfolio of solar power plants as part of the company’s “30-by-30” plan to install 30 million solar panels by 2030.

“Even as the price of many goods and services increases year after year – often with little to no warning – the price of electricity from FPL has come down over the last 15 years while service has become significantly cleaner and more reliable. This does not and cannot happen by accident. Instead, it’s the direct result of smart, long-term investments that reduce costs and improve efficiencies. In the coming months, we look forward to demonstrating how our 2022-2025 base rate proposal will help us continue delivering the clean, reliable and affordable energy customers expect and deserve in the years ahead,” said Silagy.

Aligned with previous multi-year proposals, FPL is designing its new rate plan in a way that keeps costs down for customers over the long term while supporting continued investments to further enhance its infrastructure and improve the efficiency of its system.

Overview of request
FPL, which has not requested a general rate increase since 2016 and extended its current rate agreement by freezing base rates for an additional year, is finalizing its base rate adjustment proposal that would cover the next four years (2022-2025) and provide continued, longer-term cost certainty for customers.

FPL expects the proposal to include:
•In 2022, an adjustment to base annual revenue requirements of approximately $1.1 billion.
•In 2023, a subsequent year adjustment to base annual revenue requirements of approximately $615 million.
•In 2024 and 2025, a request for a Solar Base Rate Adjustment (SoBRA) mechanism to recover up to 900 megawatts (MW) of cost-effective solar projects in each year. If the full amount of new solar capacity allowed under the SoBRA proposal was constructed, FPL’s preliminary estimate is that it would result in general base rate adjustments of approximately $140 million in 2024 and $140 million in 2025, which would be partially offset by a reduction in fuel costs on the clause portion of customer bills.
1)On Jan. 1, 2021, Gulf Power, which serves customers in Northwest Florida, legally combined with FPL. Gulf Power will continue as a separate operating division under the Gulf Power name through 2021.


The total of these rate increase requests over the four-year period from 2022 through 2025 would result in an estimated average increase in total revenue of less than 3.7% per year. FPL projects typical customer bills will remain well below the national average even with the proposed increase. In fact, adjusted for inflation, FPL’s typical bill in January 2022 would be nearly 22% less than it was in 2006. In nominal terms, FPL’s projected bill in January 2022 is projected to be just 3.5% higher than it was in 2006.Through the consolidation of FPL and Gulf Power, the typical residential customer bill in Northwest Florida is projected to be lower than today’s bill by the end of the proposed four-year rate plan.

The phased-in rate adjustments are necessary to help pay for the more than $29 billion FPL is investing during the four-year period from 2019 through 2022 to benefit customers, including improving electric service reliability, reducing emissions and improving generation fuel efficiency, strengthening its electric system to make it more resilient in severe weather and preparing for customer growth. In addition, FPL will continue to make significant investments throughout the base rate proposal timeframe to further improve service for its customers.

Most FPL customers power their homes for just a few dollars a day. FPL’s residential customer monthly usage median is 950 kWh, which means most FPL customer households consume less than the standard, 1,000-kWh typical bill benchmark, which is currently about $99. The typical 1,000-kWh Gulf Power residential customer bill is approximately $140.

Until FPL files its formal request, which is expected to occur in March, all rate, bill and revenue figures are estimates. Customers can visit FPL.com/answers or GulfPower.com/answers to learn more about the request. Once the formal request has been filed, the website will enable customers to calculate the estimated impact to their bills in 2022 based on their current electricity usage.

Delivering service efficiently
FPL ranks best-in-class among all major U.S. utilities based on its operating and maintenance (O&M) costs per kWh of retail sales. Compared with the average utility’s O&M costs, FPL’s innovative and relentless day-to-day focus on driving costs out of the business saves customers nearly $2.6 billion annually, which equates to savings of about $24 a month on a typical residential customer’s $99 bill. Never satisfied, FPL continues to find new ways to work more efficiently to save customers money. For example, FPL’s 2022 non-fuel O&M, which will be reflected in the company’s upcoming filing, is projected to be lower than FPL’s 2018 best-in-class level.

As an example, FPL’s Project Accelerate, an annual program designed to find new ways to improve efficiency, lower costs and save money, is expected to produce more than $1.5 billion in savings for customers over the company’s four-year rate plan, which is an annual savings run rate of approximately $390 million that will be reflected in the proposed rate plan. Another significant cost-saving measure that FPL has taken during the current rate plan is its merger and consolidation with Gulf Power. FPL estimates the consolidation is resulting in approximately $82 million per year in O&M savings for the combined company. FPL also projects system benefits of approximately $1.5 billion over the next 30 years as a result of power generation upgrades already underway, a new transmission line physically connecting both companies and the ability to dispatch from, and plan for, a common fleet of power generation resources. In total, customer savings from combining the two companies is projected to be $2.8 billion.

The company is committed to operating efficiently in order to deliver reliable service while keeping increases low, even while the costs of other essential products and services have risen
1)On Jan. 1, 2021, Gulf Power, which serves customers in Northwest Florida, legally combined with FPL. Gulf Power will continue as a separate operating division under the Gulf Power name through 2021.


dramatically. For example, groceries, medical care, health insurance and housing increased 25%-75% from 2006 to 2020. Meanwhile, FPL’s typical customer bill is 10% lower today than it was in 2006.

While FPL’s focus on efficiency and productivity has lessened the impact, the costs of many materials and products the company must purchase in order to provide clean, reliable and affordable power have increased. These increased expenses, combined with the projected addition of approximately one-half million new customers during the seven-year period beginning in 2018, are driving higher operating costs.

Investing in Florida to keep the state strong, competitive and successful
As Florida’s largest private investor, FPL is proposing a four-year rate plan that will support continued investments in long-term infrastructure and advanced technology that will help keep customer bills low and reliability high over the long term. For the period 2019 through 2022, FPL will have invested more than $29 billion to benefit customers, with additional significant investments expected in 2023 and beyond to meet the growing needs of Florida’s economy and continue delivering outstanding value for customers.

These investments support the continued building of a stronger, smarter and more resilient energy grid. Consistently the top priority for customers, the expectation and need for reliable, around-the-clock electric service has only been amplified amid the coronavirus (COVID-19) pandemic as more customers work and attend school remotely. Beyond customer expectations, hundreds of new federal regulatory requirements implemented since 2017, including new cyber security standards, have required FPL to continue investing in its infrastructure.

While FPL has been awarded the most reliable electric utility in the U.S. for five of the last six years, climate change and Florida’s strong, frequent severe weather requires the company to continue investing in the energy grid. Additional investments in building a stronger, smarter electric system are crucial as FPL continues to further improve the reliability of its service for customers, including fewer outages and faster restoration. Also, FPL continues to invest in smart grid technology that enables the company to continually monitor and assess the health of its system, predict potential issues before they disrupt service to customers and restore power faster following outages.

The proposal will also include FPL’s continued investments in cleaner, more efficient power generation. FPL’s ultra-efficient fleet of state-of-the-art power plants has one of the cleanest emissions profiles among comparable utilities nationwide, and the company continues to rapidly expand solar energy. From 2019 through 2022, FPL will have added more than 2,700 MW of power generation, the costs for which are not included in current customer rates. Although these investments are supported by base rates, they are expected to generate substantial savings for customers over the long term by reducing fuel and other costs, resulting in substantial net customer savings over the lives of the investments.

FPL’s track record of making smart power generation improvements is strong. For example, since 2001, FPL’s investments in high-efficiency natural gas energy centers have saved customers nearly $11 billion in fuel costs and prevented more than 145 million tons of carbon dioxide emissions, equivalent to negating the emissions output of every registered vehicle in Florida for nearly the next four years.

FPL’s annual capital investments in Florida far exceed its annual earnings, making the company’s financial strength, particularly its allowed return on equity (ROE), critical to financing
1)On Jan. 1, 2021, Gulf Power, which serves customers in Northwest Florida, legally combined with FPL. Gulf Power will continue as a separate operating division under the Gulf Power name through 2021.


these important improvements on behalf of customers. As part of its base rate request, FPL expects to propose that its allowed ROE midpoint be set at 11.50%, which includes a 0.5% performance incentive in recognition of FPL’s superior performance, relative to other utilities in Florida and the nation. FPL’s financial strength – in all financial climates – directly benefits customers, enabling the company to borrow money at lower interest rates and attract investors needed to support the types of smart, long-term investments that improve service and keep bills low over time. FPL’s best-in-class or top-decile performance across numerous key metrics translate into a customer value that’s among the best in the nation. FPL’s proposed ROE midpoint will better reflect this and encourage continued strong performance.

As it has from the moment COVID-19 became widespread in March 2020, FPL remains committed to supporting customers experiencing hardship due to the pandemic and the resulting economic uncertainty. To date, FPL has provided customers approximately $75 million in relief through various programs and initiatives. As Florida recovers, the company will continue to assist customers who need it most. However, the pandemic is also a stark reminder of the importance of reliable electricity and the need for continued smart, long-term investments in infrastructure, clean energy and innovative technology that will enable FPL to serve customers now and for decades to come.

FPL plans to formally file its petition and testimony with the PSC in March to enable a thorough review and a decision to be reached before the end of 2021.

Florida Power & Light Company
Florida Power & Light Company is the largest energy company in the U.S. as measured by retail electricity produced and sold. The company serves more than 5.6 million customer accounts supporting more than 11 million residents across Florida with clean, reliable and affordable electricity. FPL operates one of the cleanest power generation fleets in the U.S and in 2020 won the ReliabilityOne® National Reliability Excellence Award, presented by PA Consulting, for the fifth time in the last six years. The company was recognized in 2020 as one of the most trusted U.S. electric utilities by Escalent for the seventh consecutive year. FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE), a clean energy company widely recognized for its efforts in sustainability, ethics and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune’s 2020 list of “World’s Most Admired Companies.” NextEra Energy is also the parent company of NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world’s largest generator of renewable energy from the wind and sun and a world leader in battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.GulfPower.com, www.NextEraEnergyResources.com.

1)On Jan. 1, 2021, Gulf Power, which serves customers in Northwest Florida, legally combined with FPL. Gulf Power will continue as a separate operating division under the Gulf Power name through 2021.