PSC approval of rate compromise means FPL's typical customer bills will decrease slightly in January and increase less than $1

   PSC approval of rate compromise means FPL's typical customer bills will
     decrease slightly in January and increase less than $1 in June 2013

PR Newswire

JUNO BEACH, Fla., Dec. 13, 2012

JUNO BEACH, Fla., Dec. 13, 2012 /PRNewswire/ --After a thorough, nearly
year-long process, the Florida Public Service Commission today approved a
revised base rate settlement agreement that is designed to help Florida Power
& Light Company continue to provide customers with exceptional reliability,
award-winning customer service and the lowest electric bills in the state for
at least four more years.

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Currently approximately 26 percent below the national average, FPL's typical
residential bill is expected to remain the lowest in Florida based on the
current rates for Florida's 55 electric utilities.

The settlement agreement includes a general base rate increase that will be
implemented in conjunction with other annual rate adjustments, including a
substantial reduction in the customer fuel charge. The net result will be a
small net decrease on FPL's typical residential customer bills in January

In addition, the agreement provides for base rate increases covering the
capital and operating costs of new fuel-efficient power plants at Cape
Canaveral, Riviera Beach and Port Everglades when they enter service, which is
expected in 2013, 2014 and 2016, respectively. At the same time these new
plants go into service, decreases in the fuel portion of customer bills will
significantly offset the base rate increases. Combined, the new, more
efficient power plants are projected to save customers more than $1 billion in
fuel and other costs over and above their cost of construction.

When FPL's Cape Canaveral Next Generation Clean Energy Center enters service,
which is expected in June 2013, the net increase on a typical residential
customer bill is expected to be less than $1 a month or 3 cents a day, which
is a change of approximately 1 percent compared with 2012 rates.

Most of FPL's typical business customers will see their electric bills stay
essentially flat or decrease in January, remaining flat or decreasing by about
3 percent in June 2013.

"By helping us keep bills low and reliability high, this four-year rate
agreement is a win for all of our customers now and in the years ahead," said
FPL President Eric Silagy. "This is an important step forward for Florida's
economy and energy future that wouldn't have happened without the hard work of
key customer advocacy groups and, ultimately, the endorsement of regulators."

The PSC approved a modified version of a settlement agreement that had been
developed through extensive negotiations among FPL, the Florida Industrial
Power Users Group, South Florida Hospital and Healthcare Association and
Federal Executive Agencies. These groups comprise large business and
governmental customers that employ hundreds of thousands of Floridians and
represent customer rate classes that use approximately half of all the
electricity produced by FPL.

Key modifications to the original settlement proposed in August:

  oReduction in the allowed return on equity midpoint from 10.70 percent to
    10.50 percent
  oReduction in the late payment fee from $6 to $5
  oReduction in the January 2013 revenue increase from $378 million to $350

       oOf the $28 million reduction in the January 2013 revenue increase,
         $18 million directly reduces the residential customer impact and $10
         million reduces the impact across residential and business customers.

Except as contemplated within the agreement, FPL customers will not see any
additional base rate increases through 2016, provided the company's earnings
remain within the allowed range.

FPL's Typical Residential Customer Bill
1,000-kWh Residential          January 2012         January 2013
Base Rate                      $43.26               $47.02
Fuel & Other Charges           $51.36               $47.23
TOTAL BILL                     $94.62               $94.25
January 2012 vs. January 2013 Net Bill Change:      Decrease of $0.37/month
"Fuel & Other Charges" reflects approved 2013 rates for the fuel, capacity,
environmental and conservation clauses, cost recovery of nuclear upgrades
completed in 2012 and West County Energy Center 3, the storm charge and state
gross receipts tax. All rates are subject to change.

For more information, customers can visit

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

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

SOURCE Florida Power & Light Co.

Contact: Florida Power & Light Co., Media Line: +1-305-552-3888
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