FPL proposes innovative plan to invest in natural gas to save customers millions of dollars and lower long-term fuel costs

   FPL proposes innovative plan to invest in natural gas to save customers
              millions of dollars and lower long-term fuel costs

PR Newswire

JUNO BEACH, Fla., June 25, 2014

JUNO BEACH, Fla., June 25, 2014 /PRNewswire/ --Florida Power & Light Company
(FPL) today announced an innovative plan to invest in long-term natural gas
supplies, which the company believes will save customers millions of dollars
and keep fuel costs lower for years to come. By investing in natural gas
production at the source rather than paying full market prices, FPL is
projecting customer savings of up to $107 million over the life of the first
project.

www.FPL.com

"With a growing fleet of cleaner, fuel-efficient natural gas-fired power
plants and contracts for reliable and diverse gas transportation in place, we
believe this to be the next logical step in providing clean electricity for
our customers at affordable prices," said Eric Silagy, president and chief
executive officer of FPL. "This investment in natural gas production is an
important component for delivering lower, more stable natural gas prices for
our customers, and we anticipate identifying additional investment
opportunities, thereby benefiting our customers even more over the long term.
Importantly, customers will realize the greatest amount of savings in the
early years when wells typically produce the most natural gas."

FPL is partnering with PetroQuest Energy, Inc., on a new venture to develop up
to 38 natural gas production wells in the Woodford Shale region in
southeastern Oklahoma. PetroQuest, an independent oil and natural gas company
and experienced operator in the region, will oversee and operate those wells.
FPL will receive a portion of the natural gas produced from each well for its
use. As part of its petition, FPL asked the Florida Public Service Commission
(PSC) to approve guidelines for future natural gas production projects to
allow the company, and in turn its customers, to take advantage of future
beneficial natural gas investment opportunities.

FPL purchases up to 2 billion cubic feet per day of gas for its natural
gas-fired power plants at prices that fluctuate based on market conditions.
Through an existing PSC-regulated program, FPL can lower price volatility for
customers by "hedging" a portion of its fuel in advance to protect against
price fluctuations. However, this program benefits customers only through
short-term agreements. Investing in gas production at the source will enable
FPL to secure gas at a relatively low and stable cost to customers for as long
as the wells produce gas, which is typically about 30-plus years.

Over the last five years, FPL has demolished three 1960s-era oil-burning power
plants and is replacing them with ultra-modern, fuel-efficient clean energy
centers that run on American-produced natural gas. In addition to cutting the
carbon dioxide emissions rate in half and reducing other air emissions by more
than 90 percent, the new clean energy centers use up to 35 percent less fuel.
Since 2001, FPL's investments in the efficiency of its power plants have
already saved customers more than $6.5 billion on fossil fuel costs and
avoided more than 60 million tons of carbon dioxide emissions. Together, these
three plants, net of their costs to build, will save customers an additional
$1 billion in fuel charges, helping to keep bills low in the future.

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 4.7 million customer
accounts and is a leading Florida employer with approximately 8,900 employees
as of year-end 2013. FPL's typical 1,000-kWh residential bill is the lowest
among reporting electric utilities in Florida as of year-end 2013, and based
on data available in July 2013, is about 28 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 delivered better than 99.98 percent service reliability as of year-end
2013. FPL has earned the national ServiceOne Award for outstanding customer
service for an unprecedented 10 consecutive years. 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 news 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," "may 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 and their business and financial condition
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, or may require them to limit or eliminate certain operations.
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; 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) or the imposition
of additional taxes or assessments on renewable energy; 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; 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; inability to obtain
adequate insurance coverage for protection of NextEra Energy and FPL against
significant losses and risk that insurance coverage does not provide
protection against all 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 manage properly
or hedge effectively the commodity risk within its portfolio; 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 risk management
tools associated with their hedging and trading procedures to protect against
significant losses, including the effect of unforeseen price variances from
historical behavior; 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; failure of NextEra Energy or FPL counterparties to
perform under derivative contracts or of requirement for NextEra Energy or FPL
to post margin cash collateral under derivative contracts; failure or breach
of NextEra Energy's or FPL's information technology systems; risks to NextEra
Energy and FPL's retail businesses from compromise of sensitive customer data;
losses from 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, including the effect of increased
competition for acquisitions; environmental, health and financial risks
associated with NextEra Energy's and FPL's ownership and operation 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, and increased public attention to
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;
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 pay 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, 2013 and other SEC filings, and this news release should be read
in conjunction with such SEC filings made through the date of this news
release. The forward-looking statements made in this news release are made
only as of the date of this news release and NextEra Energy and FPL undertake
no obligation to update any forward-looking statements.

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SOURCE Florida Power & Light Company

Website: http://www.fpl.com
Contact: Florida Power & Light Co. Media Line: 561-694-4442
 
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