Regulatory and rate-setting risk
FPL and transmission revenues depend on approvals from regulators and allowed returns.
- Scope
- Florida utility and regulated transmission assets
- Materiality
- high
NextEra Energy, Inc
NextEra Energy is a U.S. electric utility holding company with two principal businesses: Florida Power & Light, a regulated electric utility serving Florida, and NextEra Energy Resources, which develops and operates power generation, storage, transmission and related energy infrastructure. Through these businesses, the company participates in regulated utility service, renewable generation, natural gas transmission, and energy marketing activities across the United States and Canada.
57,6 %
26,5 %
+9,8 %
0.60
0.49
| % | |
|---|---|
| Regulated Electric Utility | 45% Cost-of-service electric generation, transmission and distribution service in Florida. |
| Renewable Energy Generation | 35% Utility-scale wind, solar and related clean power projects sold under contracts or in markets. |
| Transmission and Infrastructure | 10% Regulated electric transmission assets and related grid infrastructure investments. |
| Natural Gas Transmission | 5% Ownership interests in interstate natural gas pipelines and transportation assets. |
| Energy Marketing and Customer Supply | 5% Commodity marketing, trading, full requirements service and retail supply activities. |
NextEra sells regulated electricity to retail customers in Florida through FPL, where the customer base is residential,...
- Florida retail electric customersprimary
Homes and businesses buying regulated electricity distribution and supply from FPL.
- Wholesale power customersprimary
Utilities and other buyers contracting for energy, capacity and ancillary services from NEER.
- Municipal utilities and cooperativessecondary
Public power entities purchasing full requirements service and commodity supply.
- Commercial and industrial customerssecondary
Large users buying customized power, fuel and risk management products.
- Transmission users and grid participantssecondary
Entities relying on regulated transmission assets to move electricity across regions.
The company is headquartered in the United States and its core regulated utility business is concentrated in Florida...
- •Florida is the core regulated utility market through FPL
- •NEER operates across regional U.S. wholesale power markets
- •Transmission and pipeline assets are located in multiple U.S. regions
- •Some operations and market exposure extend into Canada
- •Geography matters because regulation and grid access vary by region
NextEra’s strategy centers on expanding its contracted generation portfolio, maintaining a diversified mix of fuel...
01
Grow contracted renewable generation and storagemedium-term
Long-term contracts support project development and reduce exposure to spot power prices.
02
Expand regulated transmission investmentmedium-term
Transmission assets earn regulated returns and support grid reliability and interconnection.
03
Maintain diversified asset and market exposurelong-term
Diversification across regions and fuel types helps reduce concentration and operational risk.
04
Offer structured energy and fuel solutionsshort-term
Customized products deepen customer relationships and monetize asset flexibility.
The business is exposed to regulatory oversight, weather and natural disaster risk, construction and permitting delays,...
Weather and natural disaster risk
Hurricanes, storms, floods, droughts and extreme temperatures can damage assets and reduce output.
- Scope
- Florida and other operating regions
- Materiality
- high
Construction and permitting risk
Large generation, storage and transmission projects can be delayed by labor, supply chain or approval issues.
- Scope
- Development pipeline and capital projects
- Materiality
- high
Commodity price and market risk
NEER sells into wholesale markets and uses hedges, so power, fuel and interest-rate moves affect earnings.
- Scope
- Wholesale generation and marketing activities
- Materiality
- high
Operational outage and equipment failure risk
Breakdowns in plants, transmission systems or pipelines can cause lost revenue and repair costs.
- Scope
- Generation, transmission and pipeline fleet
- Materiality
- medium
Derivative and hedge accounting
Can materially affect quarterly results and comparability
Clean energy tax credits
Influences effective tax rate and net income
Fair value measurements
Can create period-to-period volatility
Impairment testing
Affects operating income and balance sheet carrying values
Noncontrolling interests
Affects net income attributable to NEE
: 11/08/2026