FPL selects Sabal Trail Transmission and Florida Southeast Connection to build new natural gas pipeline system into Florida

FPL selects Sabal Trail Transmission and Florida Southeast Connection to build
                 new natural gas pipeline system into Florida

Sabal Trail's Central Florida Hub to enable interconnections with both
existing major natural gas pipelines and a new Florida Southeast Connection
pipeline that will be built to link new system to FPL's operations beginning
in 2017

PR Newswire

JUNO BEACH, Fla., July 26, 2013

JUNO BEACH, Fla., July 26, 2013 /PRNewswire/ --Florida Power & Light Company
today announced that its evaluation of proposals for additional natural gas
transportation capacity determined that the best, most economical solution for
ensuring Florida's continued access to the clean, affordable, U.S.-produced
fuel necessary to meet the growing electricity needs of the state's residents
and businesses is a combination of a natural gas pipeline and interconnection
hub to be built by Sabal Trail Transmission, LLC, and a second natural gas
pipeline to be built by Florida Southeast Connection, LLC.

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FPL's economic analysis showed that these projects will save FPL customers
nearly $600 million compared with the next closest proposal.

Sabal Trail Transmission is a joint venture of Spectra Energy Corp (NYSE: SE)
and NextEra Energy, Inc. (NYSE: NEE). Florida Southeast Connection is a wholly
owned subsidiary of NextEra Energy.

Sabal Trail Transmission will invest roughly $3 billion in the construction of
a new natural gas pipeline that will access the abundant reserves of various
regions of the U.S. The Sabal Trail pipeline will originate in southwestern
Alabama and transport natural gas to Georgia and Florida. It will terminate at
a new Central Florida Hub south of Orlando, Fla., where it will interconnect
with the two, existing natural gas pipelines that currently serve peninsular
Florida. To connect with FPL's operations, Florida Southeast Connection will
invest approximately $550 million to construct a separate pipeline from Sabal
Trail's Central Florida Hub to FPL's Martin Clean Energy Center in Indiantown,
Fla.

"At FPL, we have worked hard to reduce our dependence on foreign oil and to
keep our customers' bills low. Since 2001, our investments in cleaner, more
efficient, natural gas power plants have saved our customers more than $6
billion on fuel costs. To continue meeting the growing needs of our customers
efficiently and reliably in the years ahead, we will need more natural gas
than the two existing major pipelines can deliver, which makes a third,
independently routed pipeline system absolutely essential," said FPL President
Eric Silagy. "Natural gas is vital to the reliability and affordability of
electricity in our state. Although Florida has essentially no natural gas
reserves, many areas of our country have a wealth of supply. This project is
not only about FPL and our customers – increasing access to clean, efficient,
U.S.-produced natural gas will benefit the entire state."

Florida uses more natural gas to generate electricity than any U.S. state
other than Texas, but it has minimal production, no storage capabilities and
only two major pipeline systems available to transport natural gas to the
peninsula. Both of these pipeline systems are approaching full capacity.
However, Florida's economy is projected to require additional electricity –
and, consequently, more natural gas – in the near future. To meet this need,
the new pipeline system will be built to provide the state with additional
natural gas transportation capacity beginning in May 2017.

FPL, the state's largest electric utility and largest natural gas user, will
be an anchor customer for the new pipelines. Other users will also be able to
contract for capacity and benefit from the increased access to abundant
domestic natural gas reserves. The proposed route of the new system will
maximize accessibility to all of Florida's major natural gas users and
increase the overall reliability of the state's natural gas transportation
network.

"Natural gas, especially when used in combination with solar energy, generates
far fewer emissions than coal or oil," said Eric Draper, executive director of
Audubon of Florida. "Audubon provided guidance on the proposed pipeline route,
and we commend FPL for working to avoid sensitive habitats."

The new pipeline system will expand the state's access to additional sources
of natural gas throughout the U.S. This will help reduce the state's reliance
on offshore sources and lessen its vulnerability to fuel supply interruptions
that can occur in the Gulf of Mexico region during severe tropical weather.

"Like a highway interchange connects intersecting roads, the new system's
Central Florida Hub will link the state's major natural gas transportation
infrastructure. This will effectively increase our state's energy security and
reliability by introducing important flexibility in the event that the supply
of one of the existing pipelines is interrupted," Silagy said.

Permitting is underway for both projects, and construction is expected to
begin in 2016 in order for operations to commence in 2017. In Florida, the
projects will create an estimated 8,600 direct and indirect jobs during
construction and generate more than $1.1 billion in new tax revenue for local
schools and governments over 60 years.

Regulatory Reviews
In December 2012, FPL issued a request for proposals (RFP) for new natural gas
transportation with an April 2013 deadline for responses. The RFP specified
FPL's preference for a northern pipeline that would connect from Transco
Station 85 in Alabama to a new market hub in central Florida and a second,
southern pipeline that would connect from the hub to FPL's operations in
southeastern Florida. Due to the substantial cost of building this new natural
gas transportation system, the RFP also noted that NextEra Energy would be
willing to consider financial involvement in support of a selected proposal to
facilitate timely construction to meet the critical May 2017 in-service date.

Bids to construct the new northern and southern pipelines were submitted by a
number of well-known, national pipeline companies. Through a competitive and
thorough evaluation process, the utility's selection team analyzed all bids
and determined that the Sabal Trail proposal for the northern project, and FPL
affiliate Florida Southeast Connection's self-build alternative for the
southern project, provided the greatest customer benefits at the lowest cost.

The obligations of Sabal Trail and Florida Southeast Connection to build and
operate, and FPL's obligations to be an anchor customer of, the pipelines are
subject to conditions set forth in precedent agreements executed by the
parties.

Both Sabal Trail and Florida Southeast Connection will be interstate natural
gas pipelines subject to Federal Energy Regulatory Commission approval and
oversight.

In conjunction with today's public announcement, FPL filed a petition for
prudence review with the Florida Public Service Commission (PSC). Subject to
PSC approval, FPL's cost of using the new pipelines to deliver natural gas for
its power plants will be factored into the fuel charge on customer bills
beginning in 2017, consistent with how the company's costs of using the two
existing pipeline systems are recovered.

Sabal Trail
The Sabal Trail project will include approximately 465 miles of interstate
natural gas pipeline (55 miles in Alabama, 196 miles in Georgia and 214 miles
in Florida). The Sabal Trail pipeline will be capable of transporting more
than 1 billion cubic feet per day of natural gas to serve local distribution
companies, industrial users and natural gas-fired power generators in the
Southeast.

Following FPL's selection of Sabal Trail through the RFP evaluation process, a
NextEra Energy subsidiary agreed to invest approximately $1 billion of the
system's projected cost of roughly $3 billion upon specified terms. NextEra
Energy was provided the option to invest with Spectra Energy in order to
facilitate on-time construction and enhance availability of financing for the
pipeline project.

"We are very pleased to partner with NextEra in providing the critical natural
gas infrastructure needed to help meet Florida's growing electricity demand,"
said Bill Yardley, president of U.S. transmission and storage for Spectra
Energy Corp. "This project will also make additional natural gas supplies and
new energy infrastructure available to power generators across Florida, thus
increasing the energy diversity, security and reliability across the state."

Florida Southeast Connection
The Florida Southeast Connection project will include approximately 126 miles
of interstate natural gas pipeline in Florida and is expected to cost
approximately $550 million to construct. The pipeline will initially be
capable of transporting 400 million cubic feet or more of natural gas per day
from Sabal Trail's Central Florida Hub to FPL's Martin Clean Energy Center.
The natural gas will be used to generate electricity for FPL's approximately
4.6 million customer accounts.

For more information, visit the following websites:
www.FPL.com/naturalgaspipelinesystem, www.SabalTrail.com and
www.FloridaSoutheastConnection.com.

Florida Power & Light Company
Florida Power & Light Company is the largest rate-regulated electric utility
in Florida and serves the third-largest number of customers of any electric
utility in the United States. FPL serves approximately 4.6 million customer
accounts and is a leading Florida employer with approximately 10,000 employees
as of year-end 2012. During the five-year period ended December 31, 2012, the
company delivered the best service reliability among Florida investor-owned
utilities. As of year-end 2012, its typical residential customer bills are the
lowest in Florida, and based on data available in July 2012, are about 26
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.

NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with
consolidated revenues of approximately $14.3 billion, more than 42,000
megawatts of generating capacity, and nearly 15,000 employees in 26 states and
Canada as of year-end 2012. Headquartered in Juno Beach, Fla., NextEra
Energy's principal subsidiaries are Florida Power & Light Company, which
serves approximately 4.6 million customer accounts in Florida and is one of
the largest rate-regulated electric utilities in the United States, and
NextEra Energy Resources, LLC, which together with its affiliated entities is
the largest generator in North America of renewable energy from the wind and
sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free
electricity from eight commercial nuclear power units in Florida, New
Hampshire, Iowa and Wisconsin. For more information about NextEra Energy
companies, visit these websites: www.NextEraEnergy.com, www.FPL.com,
www.NextEraEnergyResources.com.

Spectra Energy Corp
Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North
America's premier pipeline and midstream companies. Based in Houston, Texas,
the company's operations in the United States and Canada include more than
22,000 miles of natural gas, natural gas liquids, and crude oil pipelines,
approximately 305 billion cubic feet (Bcf) of natural gas storage, as well as
natural gas gathering and processing, and local distribution operations. The
company also has a 50 percent ownership in DCP Midstream, the largest producer
of natural gas liquids and one of the largest natural gas gatherers and
processors in the United States. Spectra Energy has served North American
customers and communities for more than a century. The company's longstanding
values are recognized through its inclusion in the Dow Jones Sustainability
World and North America Indexes and the Carbon Disclosure Project's Global 500
and S&P 500 Carbon Disclosure Leadership Indexes. For more information, visit
www.spectraenergy.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.
Forward-looking statements in this press release include, among others,
statements concerning expected timing and amount of investments in pipeline
development activities. In some cases, you can identify the forward-looking
statements by words or phrases such as "will," "will 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
over-the-counter (OTC) financial derivatives and to apply such regulation to
NextEra Energy and FPL; capital expenditures, increased operating costs and
various liabilities attributable to environmental laws, regulations and other
standards 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 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, 2012 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: www.nexteraenergy.com
Contact: Florida Power and Light Co., Media Line: 561-694-4442
 
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