As FPL continues to reduce oil consumption by investing in natural gas power plants, the company issues RFP to bring third major

 As FPL continues to reduce oil consumption by investing in natural gas power
plants, the company issues RFP to bring third major natural gas pipeline into

PR Newswire

JUNO BEACH, Fla., Dec. 19, 2012

JUNO BEACH, Fla., Dec.19, 2012 /PRNewswire/ --Florida Power & Light Company
today issued a request for proposals (RFP) to build a third major natural gas
pipeline to serve Florida.

(Logo: )

Over the past decade, FPL has reduced its use of oil by 98 percent by
investing in new, highly efficient power plants that use clean, U.S.-produced
natural gas as a fuel to produce electricity. In 2001, FPL used more than 40
million barrels of oil to power customers; in 2012, the company will use less
than one million barrels.

With the two existing major natural gas pipelines serving peninsular Florida
nearing full capacity, the state needs new natural gas transportation
infrastructure by 2017 to meet the growing need for natural gas power. A new
major natural gas pipeline will also improve the reliability of the state's
critical fuel transportation system and expand the state's access to onshore
sources, helping reduce exposure to offshore sources in the Gulf of Mexico and
supply interruptions caused by tropical weather.

"Replacing foreign oil with natural gas makes good sense for Florida and the
nation. It has saved FPL customers billions of dollars in fuel costs. It also
provides significant environmental benefits by lowering emissions. However, as
we continue to increase our use of U.S.-produced natural gas and as the needs
of the state's residents and businesses grow, we can't rely solely on the two
major pipelines that currently serve the state. A new, third pipeline system
that includes a hub to interconnect all three pipeline systems in Central
Florida is essential for the continued reliability and security of the state's
supply," said FPL President Eric Silagy.

Florida uses more natural gas for electricity than any U.S. state other than
Texas, with about 60 percent of Floridians' power generated by plants that
burn natural gas. But, unlike Texas, Florida has minimal natural gas
production, no storage capabilities and only two major pipelines to deliver
the fuel necessary to power the peninsula's residents and businesses.

In addition to meeting demand for additional natural gas and mitigating risk,
building a new pipeline will generate thousands of jobs during construction
and millions of dollars in new tax revenue for local schools and governments.

FPL is currently investing to modernize three old, oil and gas-fired power
plants into high-efficiency natural gas energy centers that will be
approximately 33 percent more efficient and 90 percent cleaner than the
facilities they replace. The three new plants being built are projected to
effectively pay for themselves over their operational lifetimes with more than
$1 billion in net customer savings compared with any other available
generation options to meet future needs. The net customer savings reflect the
expected savings from the plants' advanced fuel efficiency. FPL believes a new
pipeline is the best option to fuel these and FPL's existing natural gas
plants in the near future as the electricity needs of FPL's customers grow.

The proposed new "Southeast Pipeline" will provide 400,000 MMBtu per day, or
approximately 400 million cubic feet per day, of natural gas capacity for FPL
beginning in 2017, increasing in capacity in future years. It will be composed
of two segments:

  oThe "Florida Interstate Connection" and "Central Florida Hub" comprise the
    upstream pipeline project, which will originate at an existing hub in
    western Alabama, run east and then south, ending at a new hub to be built
    in Central Florida that will allow the new pipeline to interconnect with
    Florida's existing pipeline systems.
  oThe "Florida Southeast Connection" is the downstream pipeline project,
    which will originate at the new Central Florida Hub and connect with FPL's
    system in Martin County, Fla.

Approximately four-fifths of the roughly 700-mile distance from western
Alabama to FPL's Martin County plant would be covered by the upstream Florida
Interstate Connection segment with the other one-fifth covered by the
downstream Florida Southeast Connection segment. Interested companies can bid
on one or both of the segments. The specific routes will be selected and
proposed by companies submitting bids. FPL will oversee a fair, competitive
RFP evaluation process that will select the best option or options for FPL

As part of the evaluation process, FPL plans to consider a self-build
alternative for the downstream Florida Southeast Connection segment. The
self-build alternative, if found to be in the best interest of FPL customers,
would be owned and operated by a NextEra Energy, Inc. company. No
consideration is being given to an FPL self-build alternative for the upstream
Florida Interstate Connection and Central Florida Hub portion. However, the
cost to build a pipeline project of this size will be substantial, and the
completion schedule is critical. To facilitate timely construction, NextEra
Energy will be prepared to discuss financial involvement in support of a
selected option. FPL customers would not provide funding nor see their bills
impacted by this in any way.

For more information on the project, 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
Press spacebar to pause and continue. Press esc to stop.