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Florida Power & Light Company
Company typeSubsidiary
IndustryElectric power
FoundedDecember 28, 1925; 99 years ago (1925-12-28)
Headquarters700 Universe Boulevard,
Juno Beach, Florida
,
U.S.
Number of locations
98 (2022)
Area served
Florida
Key people
Armando Pimentel Jr. (president, CEO)
Services
RevenueIncrease $18.37 billion (2023)
Increase $6.59 billion (2023)
Increase $4.55 billion (2023)
Total assetsDecrease $4.99 billion (2023)
Total equityDecrease $38.84 billion (2023)
Number of employees
9,500 (2023)
ParentNextEra Energy
Websitefpl.com
Footnotes / references
[1]

The Florida Power & Light Company (FPL) is the largest electric utility company in the United States. Headquartered in Juno Beach, Florida, the company serves approximately 5.9 million accounts, totaling approximately 12 million people. As of 2023, FPL had 114 electricity generation facilities with a generating capacity of approximately 33,276 megawatts.

PA Consulting rated FPL as the most reliable electric utility in the United States six times from 2014–2021.

History

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Early years

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Early power stations in Florida were primarily used to manufacture ice and sold excess power during off-hours from manufacturing. By the 1920s, demand for power had grown sufficiently that the excess power produced by the ice plants no longer met the need. During 1924–1925, American Power & Light (APL) purchased power stations in Florida and connected them to provide more consistent power in the network. In December 1925, APL spun off its Florida properties into a new subsidiary, FPL, to replace the Miami Beach Electric Company. The following year, a hurricane hit Miami, damaging much of the electrical infrastructure. APL paid to repair the damage and build two new power stations. By early 1927, FPL had 115,000 customers.[2]

1950–2009

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The company continued to expand its customer base and generating power, and in 1950 became independently listed on the New York Stock Exchange.[3] Throughout the 1960s and 1970s, FPL built new power stations, including Florida's first nuclear power plant at Turkey Point, which began operation in October 1972.[4] The company launched the Watt-Wise home energy audit program in 1978, designed to improve energy efficiency and reduce energy demand during peak demand.[5]

FPL Group, Inc. logo

In 1984, FPL created the holding company FPL Group for acquisitions and the creation of companies.[3] FPL became the first non-Japanese company to win the Deming Prize for quality in 1989.[6]

In 1990, FPL Group began expanding its reach beyond Florida, purchasing a majority stake in a Georgia Power generation facility that year. Over the course of the next two decades, FPL expanded into the southern and eastern United States, creating a new holding group in 1998, FPL Energy, to manage the company's efforts in electricity markets outside of FPL's service area. It acquired a controlling stake in New Hampshire's Seabrook Station Nuclear Power Plant in 2002 and acquired Texas-based Gexa Energy in 2005. The company also launched the telecommunications subsidiary FPL FiberNet during this time. FPL's customer base reached 4 million in 2002.[3]

During the early 2000s, FPL began modernizing its power generation infrastructure, resulting in reduced emissions of flue gas, fuel costs, and oil usage; by 2013, the company was using fewer than 1 million barrels of oil annually.[7] In 2007, the company was the largest utility in Florida. That year, the Florida Public Service Commission rejected an FPL proposal to build a coal-fired power station near Moore Haven, Florida.[8]

At the end of the 2000s, FPL Group and FPL Energy rebranded and were renamed NextEra Energy and NextEra Energy Resources, respectively.[3]

2009–present

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In 2009, the company started installing smart meters, which communicate with FPL via radio transmissions and provide alerts for outages.[9] The same year, environmental activists camped near the Barley Barber Swamp in protest of the closure of the swamp to public access. The activists claimed FPL was draining the area; the company denied the allegations and said it was working with state and local officials to reopen the area to the public. Seventeen protesters were arrested for trespassing and resisting arrest during the demonstration.[10]

In 2011, FPL razed an old power station in Cape Canaveral, Florida, the outflow from which warmed the surrounding area and attracted manatees. Following the plant's destruction, the company added pumps and heaters to the area to maintain the environment for the manatees while a new plant was built.[7] Similar replacement projects were undertaken at plants in Riviera Beach and Fort Lauderdale.[11] Following completion of the Riviera Beach project, FPL built the Manatee Education Center and observation area near the plant in 2016.[12]

FPL built the first hybrid solar plant in the world in 2011, which combined solar thermal collectors with combined cycle natural gas generation. The plant, located in Martin County, Florida, had a generation capacity of 75 megawatts.[13] It was decommissioned in 2023.[14] By 2013, FPL owned $34.8 billion in assets and operated 23 plants that generated 24,000 megawatts of electricity.[15] As of 2014, the company had installed 4.9 million smart meters.[9]

Consulting firm Matrix LLC, of which FPL was a client, allegedly surveilled a Florida Times-Union columnist at home and on vacation in 2019 and 2020, after he wrote critically of FPL's attempts to influence the Jacksonville City Council to approve its acquisition of a local utility.[16] Through a shell company, FPL allegedly offered one Jacksonville City Council member a $250,000 a year job promoting his pet issue of marijuana decriminalization on the condition he resign his council seat.[17]

By 2021, FPL was the largest power utility in the United States.[18] Gulf Power Company merged with FPL in January 2022, after which former Gulf Power customers saw a spike in their electric bills for several months.[19] The company said the rate increase was related to the cost of hurricane recovery and fuel. In June 2023, bills were reduced due to lower than expected fuel costs.[20] The company and the Jacksonville Electric Authority, closed its jointly owned coal power generation at Plant Scherer in 2022. In the same year, FPL began constructing a green hydrogen production facility in Okeechobee, Florida.[21][22] The same year, FPL proposed a severe winter weather plan critics have argued would create unnecessary costs for consumers, considering the unlikelihood of a severe winter freeze in Florida. [23]

Documents reviewed by the Orlando Sentinel and the Miami Herald in 2022 allegedly revealed that FPL executives used consultants and shell companies to funnel money to the local news website The Capitolist in order to get pro-utility articles and negative coverage about their political enemies published.[24] An investigation by National Public Radio and Floodlight News concluded that FPL allegedly did so through consulting firm Matrix LLC, which also supported positive coverage for itself and FPL-friendly governor Rick Scott in Florida Politics and the Sunshine State News.[25]

Hurricane response

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Following the recovery from hurricanes Frances, Jeanne, and Wilma during 2004–2005, FPL invested more than $3 billion in infrastructure improvements to strengthen its power grid against future storms.[26] These efforts included replacing wooden power poles with concrete structures, replacing ceramic insulators with polymer insulators, the installation of systems to monitor water levels at electrical substations,[27] burying overhead power lines, and installing smart grid devices to monitor service.[26]

In 2018, 4.4 million FPL customers temporarily lost their power due to Hurricane Irma. It took approximately 10 days to restore power to the majority of customers; following Hurricane Wilma in 2005, it took the company 18 days to restore power to 3.2 million customers. [28]

By 2022, 45 percent of FPL's power lines were underground. FPL has also purchased a fleet of remotely controlled air and ground vehicles to inspect damage after storms. It deployed its first unmanned aerial vehicles in 2016 following Hurricane Matthew.[26]

Company overview

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FPL is the largest power utility in the United States.[18] In 2023, it provided electrical power to approximately 5.9 million accounts, totaling approximately 12 million people. FPL employs approximately 9,500 people. It had operating revenues of $18.37 billion in 2023. The company is headquartered in Juno Beach, Florida; Armando Pimentel Jr. is the president and chief executive officer.[1]

The company also operates various assistance programs, including an in-house team that connects customers with resources to assist with their bills and the Care to Share program, which provides funds for bills and repairs to the electrical infrastructure of a home.[29][30]

Power generation

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FPL operated 114 generation units as of 2023, with power transmitted along 90,000 miles of power lines. It has a net generating capacity of approximately 33,276 megawatts; of its net capacity, 73 percent is produced by natural gas or dual-fuel plants, 14 percent comes from solar power, and 11 percent comes from nuclear power.[1]

Fossil fuel

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FPL owns and operates 44 natural gas generating units and has joint ownership of three coal-fired power stations in Mississippi and Georgia. Its natural gas facilities have a generating capacity of approximately 24,254 megawatts.[1] It operates facilities throughout southern and northwestern Florida, including plants in Cape Canaveral,[7] Port Everglades, Riviera Beach,[31] and Palm Beach County.[32] Each of these plants were commissioned in the 2010s and replaced less-efficient oil burning plants.[31]

During construction, the West County Energy Center power station in Palm Beach County was the subject of protests by environmental activists who claimed the plant would damage the Everglades and contribute to climate change. The plant began operations in 2009, and a further expansion started in 2010.[32]

Nuclear power

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FPL owns and operates four nuclear power generators at two sites:[1] Turkey Point, which opened in 1972,[4] and St. Lucie, which opened in 1976.[3] Between October 2007 and January 2008, there were three non-contaminating incidents at the St. Lucie plant. Each incident was contained within the plant and regulators said each situation was handled appropriately.[33]

The company's Turkey Point nuclear facility received criticism in 2015 from some South Florida mayors over concerns about high water usage, insufficient evacuation zones and increased risks from rising sea levels. FPL responded that they were working to find a solution.[34] In 2018, the company received licenses to expand the facility from the Nuclear Regulatory Commission.[35]

Solar power

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As of February 2024, FPL owned and operated 66 solar power generation facilities with a generating capacity of approximately 4,803 megawatts.[1] It is the largest collection of solar facilities in the United States.[36] Among these plants is the DeSoto Next Generation Solar Energy Center. Comprising more than 90,000 photovoltaic panels, it was the largest power station of its kind in the United States when it was completed.[37] President Barack Obama attended its opening.[38] FPL opened a 74.5 MW solar plant at the Kennedy Space Center in 2021.[39][40]

In addition to large-scale plants, FPL has built smaller scale solar generation facilities, including solar trees and canopies, through its SolarNow program,[41] as well as 469 megawatts of battery storage.[1]

Advocacy

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According to the Florida Center for Investigative Reporting, several of the top utility companies in Florida, including FPL, have contributed over $12 million towards the election campaigns of state lawmakers since 2010.[42]

FPL contributed $2 million to promote 2016 Florida Amendment 1, which would have preserved the monopoly of utilities on rooftop solar in Florida.[43][44]

According to records obtained by the Miami Herald and Floodlight, in 2021 FPL lobbied for a bill that would have made changes to net metering in Florida, the policy allowing rooftop solar panel users to offset the cost of solar panels by selling excess power back to utilities like FPL. The bill would have reduced the amount of money rooftop solar owners received for the power generated by their panels and allowed FPL to charge more for facilities fees and access to the power grid. Three days after sending the bill to Florida state senator Jennifer Bradley, FPL parent company NextEra Energy donated US$10,000 to Bradley's political action committee. Bradley filed the bill in the Florida Senate a month after the donation was made, but denied the filing was related to the donation.[18] A version of the bill eliminating credits for net metering passed in March 2022, but was vetoed by Governor Ron DeSantis.[45][46] Also in 2021, records obtained by the Orlando Sentinel allegedly tied top FPL executives to the political consultants responsible for the "ghost" candidate scandal, promoting spoiler candidates in key races in order to siphon off votes from Democrats.[47]

Philanthropy

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FPL has established multiple education-related philanthropic programs. FPL sponsors FIRST Robotics Competitions in Florida, as well as individual robotics teams at schools in its service area.[48] FPL also sponsors a robotics scholarship and scholarships for students in STEM-related programs.[49][50] Through its NextEra Energy Foundation, FPL provided five $50,000 grants in 2022 to schools in Florida to refit classrooms.[51] It also has a grant program designed to provide teachers with training to more effectively design and share lesson plans for math and science topics.[52]

FPL partners with Student ACES, a nonprofit organization that provides training and job placement in the solar industry.[53]

Recognition

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FPL received the Deming Prize in 1989.[6]

J.D. Power rated FPL as the best electric utility in the southern United States in 2016.[54] The agency also recognized FPL for its customer service, ranking it the top residential service provider among southern electric utilities in 2021 and 2022.[55]

In 2019, the Edison Electric Institute recognized the company with its Emergency Assistance Award after FPL sent 900 employees to assist with restoring power in North Carolina after the state was hit by Hurricane Florence.[56]

PA Consulting Group has awarded FPL with its ReliabilityOne award multiple times, ranking it as the most reliable utility company in the U.S.[55] The company won or shared the award six times between 2014–2021.[57][58] PA Consulting also recognized FPL for its technological innovation with an award in 2021.[57]

See also

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References

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  1. ^ a b c d e f g "SEC Form 10-K". U.S. Securities and Exchange Commission. February 16, 2024. Retrieved February 26, 2024.
  2. ^ Souders, Barbara (April 8, 1976). "Florida Power & Light celebrates 50th anniversary". Sarasota Journal. Retrieved June 8, 2023.
  3. ^ a b c d e Salisbury, Susan (March 21, 2010). "Juno-based FPL Group to become NextEra Energy". The Palm Beach Post. Archived from the original on March 11, 2016. Retrieved June 8, 2023.
  4. ^ a b "Nuclear reactor in operation". Naples Daily News. October 31, 1972. p. 10A.
  5. ^ Tasker, Georgia (December 9, 1992). "Conservation in Action: One county's story". Miami Herald.
  6. ^ a b Kolody, Tracy (October 19, 1989). "FPL captures Deming Prize; Utility 1st U.S. firm to win award". Sun Sentinel. Retrieved June 8, 2023.
  7. ^ a b c Overton, Thomas W. (September 1, 2013). "Top Plant: Cape Canaveral Next Generation Clean Energy Center, Brevard County, Florida". Power. Retrieved June 8, 2023.
  8. ^ Pittman, Craig (June 6, 2007). "PSC bars coal-fired plant". Tampa Bay Times. Retrieved June 8, 2023.
  9. ^ a b "Fighting The Switch? The Smart Meter Controversy". WFOR-TV. May 2, 2014. Retrieved June 8, 2023.
  10. ^ Duret, Daphne (January 10, 2009). "17 protesters arrested at Barley Barber swamp, demand FPL open area to the public". Archived from the original on March 20, 2012. Retrieved August 30, 2023.
  11. ^ Fleshler, David (March 16, 2013). "Second old power plant to be destroyed in July". Sun Sentinel. Archived from the original on September 14, 2017. Retrieved June 8, 2023.
  12. ^ Salisbury, Susan (September 24, 2016). "Manatees bask in warm waters from FPL's Riviera Beach plant". The Palm Beach Post. Archived from the original on July 23, 2021. Retrieved August 24, 2023.
  13. ^ Neville, Angela (December 1, 2011). "Top Plant: Martin Next Generation Solar Energy Center, Indiantown, Martin County, Florida". Power. Retrieved June 8, 2023.
  14. ^ "Ten Year Power Plant Site Plan 2023–2032" (PDF). Florida Power & Light. April 2023. Retrieved August 25, 2023.
  15. ^ Salisbury, Susan (April 29, 2013). "Juno Beach-based NextEra Energy, FPL parent company, plans to hold annual meeting in Dallas". The Palm Beach Post. Archived from the original on March 12, 2016. Retrieved June 8, 2023.
  16. ^ Ariza, Mario Alejandro (June 24, 2022). "A Florida power company didn't like a journalist's commentary. Its consultants had him followed". The Guardian.
  17. ^ "Operatives working for FPL arranged job offer to opponent of Jacksonville utility sale, records show". Orlando Sentinel. December 10, 2021.
  18. ^ a b c Klas, Mary Ellen; Ariza, Mario (December 20, 2021). "Florida's largest electric utility conspired against solar power, documents show". Tampa Bay Times. Retrieved June 8, 2023.
  19. ^ Iverson, Olivia (January 9, 2023). "Some Northwest Florida FPL customers remain concerned of future rate changes". WEAR-TV. Retrieved August 24, 2023.
  20. ^ "Lower fuel costs to trim FPL bills". WFOT-TV. June 14, 2023. Retrieved September 12, 2023.
  21. ^ Rivers, Brendan (January 7, 2022). "JEA closes coal-fired power plant, reducing the utility's carbon footprint". WJCT. Retrieved August 25, 2023.
  22. ^ Huberman, Dylan (December 14, 2022). "FPL breaks ground on hydrogen-hub facility eyed as future of green energy". WPEC. Retrieved August 25, 2023.
  23. ^ Morse, Hannah. "FPL's extreme winter plan would create 'unnecessary' costs to consumers, critics say". The Palm Beach Post.
  24. ^ "Florida's Most Powerful Utility Reportedly Paid a News Site to Spread Propaganda". Gizmodo. July 27, 2022. Retrieved 2022-10-18.
  25. ^ David Folkenflik; Mario Ariza; Miranda Green (December 19, 2022). "In the Southeast, power company money flows to news sites that attack their critics".
  26. ^ a b c Cashmere, Jay (September 15, 2022). "By land and air, FPL continues improving infrastructure in event of hurricane". WPTV-TV. Retrieved August 25, 2023.
  27. ^ Salisbury, Susan (November 15, 2013). "FPL's three-year storm hardening plans approved". The Palm Beach Post. Retrieved August 25, 2023.
  28. ^ Dymburt, Andrew; Cohen, Daniel (September 10, 2018). "FPL on what went right, wrong — 1 year after Hurricane Irma". WSVN. Retrieved June 8, 2023.
  29. ^ Yurizza, Adriana (August 15, 2023). "FPL's Customer Advocacy team helps customers in need". Miami's Community News. Retrieved August 24, 2023.
  30. ^ McCloud, Cheryl (July 26, 2023). "Can't pay your electric bill and worried during this heat wave? These programs might help". Sarasota Herald-Tribune. Retrieved August 24, 2023.
  31. ^ a b Hurtibise, Ron (April 11, 2016). "FPL christens new gas-fueled Port Everglades plant". Sun Sentinel. Retrieved August 23, 2023.
  32. ^ a b Salisbury, Susan (August 2, 2010). "FPL's West County Energy Center will be the nation's largest power plant of its kind, and consumers pay for it". The Palm Beach Post. Archived from the original on May 28, 2015. Retrieved June 8, 2023.
  33. ^ Margasak, Gabriel (January 25, 2008). "Leak hits nuke plant on Hutchinson Island; no injuries resulted". Treasure Coast Newspapers. Retrieved August 25, 2023.
  34. ^ Staletovich, Jenny (May 19, 2015). "FPL needs more water to run Turkey Point". Miami Herald. Retrieved September 13, 2017.
  35. ^ "Regulator approves licences for new Florida units". World Nuclear News. April 6, 2018. Retrieved January 2, 2024.
  36. ^ Cone, Allen (February 5, 2023). "FPL adds 10 solar energy centers to power 150,000 homes". WPTV-TV. Retrieved August 25, 2023.
  37. ^ Neville, Angela (December 1, 2010). "Top Plant: DeSoto Next Generation Solar Energy Center, DeSoto County, Florida". Power. Retrieved June 8, 2023.
  38. ^ Albers, Katherine; Williams Hale, Leslie (October 27, 2009). "Obama announces $3.4B to upgrade nation's power grid during Arcadia visit". Naples Daily News. Retrieved August 22, 2023.
  39. ^ Waymer, Jim (August 10, 2019). "FPL plans $100 million solar plant at NASA's Kennedy Space Center". Florida Today. Retrieved September 12, 2023.
  40. ^ "Florida Power & Light Company Opens Discovery Solar Energy Center at Kennedy Space Center". Space Coast Daily. June 12, 2021. Retrieved September 12, 2023.
  41. ^ Navarro, Josh (September 22, 2021). "FPL touts solar trees during National Clean Energy Week". WPTV-TV. Retrieved August 23, 2023.
  42. ^ Barton, Eric (April 3, 2015). "In Sunshine State, Big Energy Blocks Solar Power". Florida Center for Investigative Reporting. Retrieved September 13, 2017.
  43. ^ Pomerantz, David (October 31, 2016). "Press Release: Florida Utilities Pour $3.5 Million More Into Anti-Solar Amendment 1".
  44. ^ "Florida's outrageously deceptive solar ballot initiative, explained". www.vox.com. November 4, 2016.
  45. ^ Klas, Mary Ellen (March 13, 2022). "Florida lawmakers vote to phase out rooftop solar incentives". Tampa Bay Times. Retrieved August 23, 2023.
  46. ^ Folkenflik, David; Ariza, Mario; Green, Miranda (December 19, 2022). "In the Southeast, power company money flows to news sites that attack their critics". NPR. Retrieved June 8, 2023.
  47. ^ Martin, Annie; Garcia, Jason (December 2, 2021). "Florida Power & Light execs worked closely with consultants behind 'ghost' candidate scheme, records reveal". Orlando Sentinel. Retrieved June 8, 2023.
  48. ^ Lopex, Joel (March 5, 2022). "Robot competition draws in hundreds of tech youths". WPTV-TV. Retrieved August 24, 2023.
  49. ^ Galo, Amy; Murphy, Rachel (August 2, 2023). "High School inventor wins $20,000 scholarship". WINK-TV. Retrieved August 24, 2023.
  50. ^ "8 local high school grads receive $20K college scholarships as part of FPL program". WSVN. July 8, 2023. Retrieved August 24, 2023.
  51. ^ Susskind, Stephanie (February 3, 2023). "Riviera Beach classroom gets 'STEM' makeover thanks to Florida Power & Light grant". WPTV-TV. Retrieved August 24, 2023.
  52. ^ Tussing, Tony (November 15, 2022). "Class Notes: Florida Power & Light awards more than $13,100 to FUTURES Foundation". The West Volusia Beacon. Retrieved September 12, 2023.
  53. ^ Fagen, Faran (August 12, 2021). "Solar energy boot camp a shining light of hope for 27 young adults seeking a better life". The Palm Beach Post. Retrieved August 24, 2023.
  54. ^ Spear, Kevin (July 15, 2016). "J.D. Power ranks Duke Energy last in customer satisfaction". Orlando Sentinel. Retrieved June 8, 2023.
  55. ^ a b DeLuca, Alex (January 25, 2023). "Florida Power & Light CEO Eric Silagy Retires in Wake of Matrix Consultant Scandal". Miami New Times. Retrieved August 24, 2023.
  56. ^ "Florida Power and Light Company wins natural disaster award". WFTX-TV. January 14, 2019. Retrieved August 24, 2023.
  57. ^ a b Larson, Aaron (November 18, 2021). "FPL and SDG&E Win Awards for Outstanding Reliability". Power. Retrieved August 25, 2023.
  58. ^ Walton, Rod (November 20, 2020). "FPL tops PA Consulting's annual ReliabilityOne awards as repeat champ". Power Engineering. Retrieved August 25, 2023.
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Official website

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