Summary
Headquartered in Juno Beach, Florida, NextEra Energy provides generation, transmission and distribution services. The company owns regulated electric utility assets in Florida, including Florida Power & Light (FPL) and Gulf Power (now part of FPL). FPL is one of the largest vertically integrated electric utilities in the U.S., with approximately 5.8 million customer accounts that generate about 65% of earnings. NextEra Energy Resources, a nonregulated subsidiary, is the largest U.S. generator of wind and solar power and a leader in battery storage.
NextEra Energy has a generation presence in 38 states and four Canadian provinces, and is ahead of many peers in the use of renewable generation, especially wind. The company’s fuel mix is heavily weighted toward natural gas (48%), followed by nuclear (23%) and wind (23%). Coal accounts for only 2% of overall generation, though a much higher 27% at Gulf Power. In July 2022, the company expanded its portfolio through the acquisition of Texas Water and Wastewater. The shares are a component of the S&P 500. The current market capitalization is $117 billion.
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