FPL's typical residential bills will increase 5 cents a day or less in January 2013

FPL's typical residential bills will increase 5 cents a day or less in January
                                     2013

PR Newswire

JUNO BEACH, Fla., Nov. 21, 2012

JUNO BEACH, Fla., Nov. 21, 2012 /PRNewswire/ --In January 2013, typical
1,000-kWh residential bills for customers of Florida Power & Light Company
will increase by 5 cents a day or less depending on the outcome of Florida
Public Service Commission proceedings. FPL's bills are expected to remain the
lowest of the state's 55 electric utilities and well below the national
average.

(Logo: http://photos.prnewswire.com/prnh/20120301/FL62738LOGO)

This increase reflects new base rates, which are currently pending PSC review,
consistent with Florida law that permits rates to be implemented subject to
refund when additional time is required to conclude a proceeding. The schedule
for the PSC's final action on FPL's rate filing was extended so the Commission
could first conduct the hearing and vote on FPL's settlement agreement. In
conjunction with the base rate increase, FPL is also implementing other rate
adjustments, including a substantial reduction in the customer fuel charge.
The result will be a net increase for a typical residential customer of no
more than $1.50 per month beginning in January.

In August, FPL reached a settlement agreement with the Florida Industrial
Power Users Group, South Florida Hospital & Healthcare Association and Federal
Executive Agencies. These groups represent large business and governmental
customers that employ tens of thousands of Floridians. If the PSC approves the
proposed agreement in December, FPL will implement the rates outlined in that
proposal, which would eliminate the net increase on a typical residential
customer bill, holding residential bills flat in January.

Because new rates will be effective in January 2013, FPL will initiate notice
to customers in December 2012. If the PSC does not approve the settlement
agreement in December, and ultimately approves a base rate that is lower than
the amount implemented in January 2013, customers would be refunded the
difference, with interest.

In an informational filing made with the PSC today, FPL noted that the
company's ability to offset expenses through the use of non-cash surplus
depreciation is very limited in 2013 and will soon expire. This would cause a
significant, rapid deterioration in the company's finances if new rates were
not to be implemented in January.

"We appreciate the PSC's diligent review of the proposed settlement, which we
believe reflects a thoughtful and fair compromise with major customer groups
that is in the public interest and will benefit all FPL customers and the
state of Florida. If approved, the settlement agreement would support our
ability to continue to provide our customers with exceptional reliability,
award-winning customer service and the lowest electric bills in the state for
at least four more years," said FPL President Eric Silagy.

The company's rate request, as originally filed March 19, 2012, addressed only
rate requirements arising in 2013. The proposed settlement agreement would
help secure low, stable bills for all FPL customers through 2016.

The PSC completed its in-depth evidentiary hearing in the case on Nov. 20,
2012, and is scheduled to vote on the proposed settlement agreement on Dec.
13, 2012. Following the vote, FPL will publish the specific rates that will
take effect in January 2013. A comparison of the potential 1,000-kWh
residential bill impacts can be found in the chart below. To calculate this
comparison at other usage levels or for more information, customers can visit
www.FPL.com/answers.

FPL's Typical Residential Customer Bill
                                  January 2013
                        January   If Settlement is      If Settlement is
1,000-kWh Residential
                        2012      Not Approved in       Approved in December
                                  December
Base Rate               $43.26    $48.49                $47.36
Fuel & Other Charges    $51.36    $47.58                $47.23
TOTAL BILL              $94.62    $96.07                $94.59
                                  Increase of           Flat
January 2013 Net Bill Change:     $1.45/month
                                                        (decrease of
                                  (about 5 cents/day)   $0.03/month)
*Fuel & Other Charges" include FPL's filed projections for fuel, capacity,
environmental and conservation clause recovery, West County Energy Center 3
recovery, the storm charge, base rate increase for completed nuclear upgrades
and state gross receipts tax. All rates are subject to change. If settlement
is not approved, base rate increase would be implemented subject to refund
upon PSC's final determination in early 2013.

Florida Power & Light Company

Florida Power & Light Company is the largest electric utility in Florida and
one of the largest rate-regulated utilities in the United States. FPL serves
approximately 4.6 million customer accounts and is a leading Florida employer
with approximately 10,000 employees. The company consistently outperforms
national averages for service reliability while its typical residential
customer bills, based on data available in December 2011, are about 25 percent
below the national average. A clean energy leader, FPL has one of the lowest
emissions profiles and one of the leading energy efficiency programs among
utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra
Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.

Cautionary Statements and Risk Factors That May Affect Future Results

This press release 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 Florida Power & Light Company (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. In
some cases, you can identify the forward-looking statements by words or
phrases such as "will," "will likely result," "expect," "anticipate,"
"believe," "intend," "plan," "seek," "aim," "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 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. 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 an appropriate
return on 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; risks of
disallowance of cost recovery by FPL based on a finding of imprudent use of
derivative instruments; effect of any reductions to or elimination of
governmental incentives that support renewable energy projects of NextEra
Energy Resources, LLC and its affiliated entities (NextEra Energy Resources);
impact of new or revised laws, regulations or interpretations or other
regulatory initiatives on NextEra Energy and FPL; effect on NextEra Energy and
FPL of potential regulatory action to broaden the scope of regulation of OTC
financial derivatives and to apply such regulation to NextEra Energy and FPL;
capital expenditures, increased cost of operations and exposure to liabilities
attributable to environmental laws and regulations 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;
effect on NextEra Energy and FPL of changes in tax laws and 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 and other facilities; effect on NextEra Energy and FPL of a lack of
growth or slower growth in the number of customers or in customer usage;
impact on NextEra Energy and FPL of severe weather and other weather
conditions; risks associated with threats of terrorism and catastrophic events
that could result from terrorism, cyber attacks or other attempts to disrupt
NextEra Energy's and FPL's business or the businesses of third parties; risk
of lack of availability of adequate insurance coverage for protection of
NextEra Energy and FPL against significant losses; 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
hedge effectively its assets or positions against changes in commodity prices,
volumes, interest rates, counterparty credit risk or other risk measures;
potential volatility of NextEra Energy's results of operations caused by sales
of power on the spot market or on a short-term contractual basis; 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 hedging
and trading procedures and associated risk management tools to protect against
significant losses; impact of unavailability or disruption of power
transmission or commodity transportation facilities on sale and delivery of
power or natural gas by FPL and NextEra Energy Resources; exposure of NextEra
Energy and FPL to credit and performance risk from customers, hedging
counterparties and vendors; risks to NextEra Energy and FPL of failure of
counterparties to perform under derivative contracts or of requirement for
NextEra Energy and FPL to post margin cash collateral under derivative
contracts; failure or breach of NextEra Energy's and FPL's information
technology systems; risks to NextEra Energy and FPL's retail businesses of
compromise of sensitive customer data; risks to NextEra Energy and FPL of
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; increasing costs of
health care plans; lack of a qualified workforce or the loss or retirement of
key employees; occurrence of work strikes or stoppages and increasing
personnel costs; NextEra Energy's ability to successfully identify, complete
and integrate acquisitions; environmental, health and financial risks
associated with NextEra Energy's and FPL's ownership 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 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;
liability of NextEra Energy and FPL for increased nuclear licensing or
compliance costs resulting from hazards posed to their owned nuclear
generation facilities; risks associated with outages of NextEra Energy's and
FPL's owned nuclear units; effect of disruptions, uncertainty or volatility in
the credit and capital markets 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; risk of impairment of NextEra Energy's and FPL's
liquidity from inability of creditors 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 and FPL'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 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; and effect
of disruptions, uncertainty or volatility in the credit and capital markets of
the market price of NextEra Energy's common stock. 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, 2011 and other SEC filings, and this
press release should be read in conjunction with such SEC filings made through
the date of this press release. The forward-looking statements made in this
press release are made only as of the date of this press release and NextEra
Energy and FPL undertake no obligation to update any forward-looking
statements.

SOURCE Florida Power & Light Company

Website: http://www.FPL.com
Contact: Florida Power & Light Co., Media Line: +1-305-552-3888
 
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