everyone. morning Thank you, good Kristen, and
year-over-year earnings last start strong NextEra financial increased approximately Energy execution success of Adjusted to the by on XXXX. is per performance. building and off share year's strong in a XX.X%
Fortune's years. XXth were companies honored in was XX world's of our one number in we again sector time quarter, admired for Energy NextEra the ranked list that on the the During most
of to team low-cost have our built proud power has to providing the extremely enabled customers, shareholders. and long-term to we our also that We are reliable deliver us while and culture clean value
is remains to Florida is FPL focus is deploying state US largest now smart the our in industry. the best officially on fastest-growing our At same one in America. what FPL, we customer capital utility the propositions the the deliver of value believe in and electric
customer Key costs bills fuel XXXX bill customers. quarter, strategy affordable. proposed this provide to to keeping from we to is using savings And that relief to reduce XXXX fuel projected unbilled
customers fuel the by manage FPL to further To price adding we also helping more are grid. solar volatility,
megawatts megawatts, Florida placed quarter, into solar. is solar energy. approximately now portfolio utility This in at solar FPL's delivered service and which represents nearly XXX for generation cost customers, lowest the we Putting option We portfolio solar about X,XXX but of is any largest of FPL's owned the only country. the of new believe low-cost operated X%
battery storage, energy order the to of low-cost of a in leader to Energy remains world's helping industrial moving by on their of megawatts In low-cost now strategy their the XX-year and nearly leader renewables sector filed in solar. new XX,XXX recently and plan, solar customers site to customers, FPL's laser-focused power extend executing Resources, renewables a decarbonize includes and benefits operations the cost energy and the other decarbonizing and outside sector, reduce power clean commercial solutions.
its of megawatts new X,XXX backlog. projects and approximately added Resources Energy to renewables storage quarter, This
business. operating acquisition Energy providing announced facilities, on its growing Resources gas-to-electric foundation for RNG of large our previously of closed portfolio also the a landfill
ammonium with be world's a to long-term the announce memorandum We of expect largest also producer. to Industries CF understanding excited establishing a what we new with create hydrogen, relationship are green will
in renewables. continues nation's competitive help leading the what transmission support is And business to to build finally, believe growth Energy Resources we
for million approval recommended We are in substation for ISO Energy transmission and new pleased to approximately announce upgrades Transmission. California $XXX recently that NextEra the
expertise continues great believe that our businesses Energy anchored NextEra other's not set the breadth leverage build opportunities. each scale balance them sector. two to and Energy industry in believe, and of of to even by in make believe cheaper skills, NextEra is better. with We one to finance has anyone able We strongest our operate be We our do buy, of sheets
data development skills and solutions believe clean also We of energy low-cost provide our enable us the our innovative best-in-class set customers. and technology benefit unparalleled for to
by competitive demanded business our even combination skills requiring growth complex, products scale and offer, creating forward. more opportunities more going further competitors becoming that opportunities can significant of and are of advantages believe our the and a our The we enhancing market few for
culture have lines, to we and employee-led just call initiative, Along be continuous Velocity. a those always which annual our striving we better. We completed now rooted productivity improvement,
roughly savings, most For history rate in and that we this of years, of expected to part our In combined $X.X have with a the our behalf customers over commitment generated our doing best We and approximately over breadth these program's two-year rate in have to decade. savings brings is and executing process. last of and that's the the excellence in are annual day of our $XXX alone, annual believe in period team XX every produce which of capabilities million and this shareholders. on and run year's employees team million ideas, productive after depth it as run over indicative results results our team the business ideas for industry, billion generated when the to $XXX XXXX
With that results turn beginning let's the detailed to FPL. with
versus or FPL's of income year-over-year. of approximately increase employed capital driver growth quarter. of FPL an growth Regulatory XXXX, $X.XX quarter. significant XX.X% For expenditures billion was a of the for FPL's $X.XX EPS first $X.X the of $X.XX billion, were net year comparable approximately the quarter share per prior reported capital
continued reported XX.X% regulatory for smartly will XX of full year at billion for invest capital the March benefit be as We XXXX. customers. to to FPL months between approximately for $X.X FPL's billion, the and our investments continue purposes be expect XXXX ending $X.X our we capital ROE
During a billion. million balance with achieve ROE to the $X.XX leaving of $XXX FPL utilized quarter, reserve of our we regulatory amortization targeted
we've As amortization to the trend reserve historically half year, this the this in FPL and previously of year. first utilizes continue we more expect discussed,
Earlier period. plan $X.X by FPL's fuel saved XXXX billion Commission natural average prices adjustments that billion. to recover together, over of fleet recently this customer the than the fuel will bills X,XXX fuel FPL's approved lowest costs kilowatt customers Service projected offset in alone. of we in generation utilities. year, its all of recovery approved more of approximately proposed $X.X from approximately hour the approximately costs remain gas decades-long a partially of has XXXX, Florida $X billion incremental modernization all Taking billion Amid high typical Public among in approved costs anticipate projected XXXX XX-month The and also hurricane of FPL's commission $X.X below savings Florida from national XXXX residential well XXXX
solar XX% delivery XX the in territory Turning planning new result site and filed decade. our XX-year XXXX plan from the The to presents generation from capacity XXXX. cost-effective years, up resource nearly in in low-cost our across development would for our X% XX,XXX FPL's energy significantly XXXX efforts. plan next roughly of its which solar next plan that forecasted over FPL generation megawatts of recently coming service roughly annual includes
gas additions double customer Given of are post-XXXX solar low-cost the X than plan volatile a hedge year's We natural our base includes year's source. more and a also battery cost-effective provide approved capacity renewables prices solar of and electricity FPL's customer generation last demand decade. plan with expansion low-cost valuable gigawatts believe storage the this benefits the customers for FPL's of of and against over the will increasing meet storage and next growing
is track service green Clean later and projected Energy hydrogen our year. Center of construction this on into to at Finally, our Okeechobee pilot go
continues in Turning now state day. its Florida moving the over to in and people every nation X,XXX the the to became increase Florida economy. with fastest-growing XXXX to population Florida
Over ago. the grown approximately is growth compound and years, has $X.X year Florida's last trillion versus five rate approximately a X% is a which X% now annual up at roughly GDP
year would XXth period underlying growth have XX,XXX, customers economy inactive roughly by even by the was number approximately removing Based after on quarter in largest if Hurricane prior with the country, continued retail increased Ian. solid of GDP, XX,XXX FPL's world. population the increasing comparable Florida average a FPL's customers to first from sales X.X% driven it due
estimate quarter, the underlying usage impact first weather than the offset that we warmer more decline positive a For customers. was for of in by our
particularly with average usage periods during experienced significantly temperatures often we normal. basis, As as when volatile above degrees can on a greater pointed deviate temperatures from be than we winter have four this quarterly normal, out, somewhat underlying
per and year. underlying growth continues Our average usage negative long-term of approximately X.X% between expectations zero to
$X.XX year-over-year. less wind share share. per GAAP increased Contributions Energy earnings due up the Resources investments Clean our per new and $X.XX $X.XXX per the $X.XX to million $XXX approximately from from Adjusted quarter for share billion by portfolio resource prior lower $X.XX XXXX year. were primarily first solar Energy to were favorable quarter or year share prior of $X.XX earnings the compared report comparable Contributions period. per versus or existing first
customer-facing weaker year contribution versus contribution and reduced to share by in Gas The respectively per $X.XX a primarily all prior customer margin compared per impacts share relatively our higher from and our other due in increased business quarter. business supply trading by and infrastructure and comparable XXXX. $X.XX to earnings the $X.XX
capitalizing of of on we demand XXX our megawatts Energy megawatts renewables strong storage had call, strong XXX last to approximately wind. of projects Resources including origination environment. and global megawatts added megawatts quarter of the XXXX roughly of XXXX new and another solar, storage Since backlog
renewables service growth. of stands strong additions, now our in projects storage over With gigawatts into these provides future visibility our placed XX.X and backlog net and at
of years XXXX, development to the are more remaining expectations within before With XXXX range. X.X XXXX the end now than we
many and and remain Given driving the continue power economics option over long-term X.X see we the clear low-cost decision-making in to the volatility gas years, customers. for last prices renewables
are our cells constructive supply circumvention chain the the China, established and disruption. of front, our of take produced -- wafers the the solar mitigate in of all repositioned suppliers Department's supply determination XXXX. using their meet Asia XXXX Nearly we chains Commerce in in future end to has to manufacture the criteria outside by solar expected continue to preliminary Southeast every one and steps supply On case panels to suppliers potential
discussions advancing on of currently solar and to Additionally, our panels. chain support further we focused are production are domestic the supply diversifying
Finally, suppliers to flow the provide US to we traceability improvement encouraged the requested Protection. Border and in documentation of panels Customs the US into are by the continue as
market. energy gas represents operating in-house portfolio during of growing Also, we to facilities the of to its for approximately attractive expanding while transaction a that acquire closed capabilities portfolio $X.X gas-to-electric natural earlier. investment, transaction on billion fuel large landfill its realize I The expanding mentioned on renewable and rapidly an this quarter, and the resources announced opportunity double-digit renewable returns assets previously
Turning to we to about emissions. effectively lower help green excited our expected hydrogen, to play as are cost solution is role it the customers a
a As leader in partners and the our land the storage, market deep in the we inventory and around optimize green interconnection hydrogen world to for some are leader best the significant we hydrogen expertise positions with renewables partner country. sites of logical and battery potential green believe help
becoming As quickly significant new driver hydrogen the a number energy resources with result, and growth a customers we for of are the size for right and the technology our opportunities we given see regulation, evaluating. a
Secretaries coalition implementation joined the market of IRAs production of of capitalization policies and companies approximately the a in the hydrogen & this House tax the for Energy and Treasury with other NextEra combined advocating month, a credit. green trillion Energy sending letter for programmatic a $X Earlier to White XX
in the is become investment the foster prudent This that hydrogen hydrogen advocating policy for US world green paving will technology. coalition way to the leader technology in for
for hourly production an of rather A renewable power this basis. annual key generation electricity matched consumed for aspect on green to the to be policy an is its hydrogen than
for gray hydrogen We believe including several cost being emissions, of a construct with benefits hydrogen production. significant matching annual their and renewables over prices, has lower which blue and rely parity fuels an achieving reduction fossil hourly green built, hydrogen on both more carbon green that in
supported numerous Wood such Initiative, from as by This Rhodium Energy and Environmental Group, Mackenzie, entities and Institute. MIT Futures viewpoint Energy Economics, third-party is respected studies Energy
to executed existing CF a efforts representatives joint CF of producer of also ammonia we hydrogen venture green As green production government we to facility to policy, hydrogen to an recently a our a green are work continue process. and development expand smart to with industry its hydrogen -- Understanding develop with and Memorandum including the for hydrogen the Industries, ammonia advancing largest incorporate progress into it intends to world's deliver Industries production which
XXX-megawatt other approximately will represent renewables an includes which hydrogen, we renewable are a growth hydrogen green facility energy continue facility. momentum significant forward. we proposed solution, project going opportunities tons with The be XX day for pursuing powering driver new This per combined to a of believe
with gigawatts support. of Our hydrogen of investments team partners continues than XX projects, to representing over and multiple $XX capital on more engage customers and new billion potential renewables to requiring
focus on to being and deployment. the essential ability a We we of additional opportunity. renewables As our for in US the long-term advantage building as is own addition renewables to support competitive leading key build, operate investment economy, decarbonization believe our transmission to transmission a terrific business,
these up along pleased unlock XX built NextEra the clean Transmission, recently approximately recommended for projects Board to California's energy substation upgrades Governors transmission ISO to could to others believe and new $XXX by of CAISO support million are that that May. generation goals. approval for gigawatts the could of We with renewable ambitious California of in We approval in Energy subject be
the now Energy. results consolidated to Turning NextEra for
XXXX For were or attributable NextEra quarter $X.XXX $X.XX share. first the billion of to earnings GAAP per Energy
earnings first the Energy's adjusted share $X.XX NextEra decreased higher Corporate billion year-over-year, segment XXXX and driven earnings respectively. per rates. results Adjusted were for by per approximately primarily adjusted and by $X.XXX interest EPS and $X.XX share Other quarter
improved or March, for current the visibility business from In S&P threshold level from of for downgrade into funds debt NextEra particularly acknowledged of long-term all and IRA, S&P the this of favorable the risk FFO In clarity Energy the XX% its operations adjustment, affirmed level noting to making following its flows. previous in and improvement Energy metric the its ratings XX%. to lowered cash Resources passage
At of to the debt adjustment, roughly We creates adjusted highlights of stable same of IRA. the and threshold, investments its long-term non-recourse XX and the treatment bring downgrade acknowledges back Resources on given benefits time, cash S&P the profile this Regulated project renewables additional of overall with flows business, bps particularly Energy risk against credit. associated it believe which FERC attractive favorable the headroom the
into billion swaps the as NextEra Energy debt in on account to environment expectations. we rate various rate interest issuance. actively have Today, And help mitigate the XXXX increases rates, impact our at the and products in always, interest financial we value of rate discussed which have enter swaps interest is interest exposure exceeds Finally of taken maturities. current potential past, XXXX our we as to manage future future into rate in of notional the $XX
to Our remain at be which at expectation through to ranges while year time credit EPS and our long-term balance top earlier financial in we extended of ratings. we our adjusted strong expectations the year if or not this maintaining XXXX, disappointed XXXX will results sheet financial from able unchanged. each same XXXX And near are the deliver end we
or in we range. XXXX, From growth above at flow XXXX to average operating annual expect our that rate EPS continue be annual will compound also to growth our adjusted cash
per dividends year at at a off through XXXX to XXXX least base. expect our roughly We to grow also share per continue XX%
usual expectations weather caveats As conditions. our including operating normal assume and always, our
Turning NextEra believe, than have We we more Partners. visible we opportunities to have growth had Energy today. never
the ways: ability We acquiring assets buying Energy parties. other in organically grow from from to Resources, three and growing third assets have
Energy significant backlog the through gigawatts, providing of visibility Partners new hydrogen. innovative such with and technologies With Energy in projects Resources as clean is for assets total tailwinds NextEra grow expectations its adding Energy XXXX, to its development portfolio, terrific operating and to from RNG portfolio, and Resources' continuing XX energy approximately IRA, ways, combined and
and approximately existing locate many to assets acquiring ability stand-alone as opportunities well assets, already from more its X,XXX as has Resources, also new wind Partners its assets, of repowerings, to In megawatts at Energy NextEra addition identified, potential potential come, storage the expected storage with to Energy repower to existing given the renewable ITC.
acquisition significant brought being opportunities there portfolios, are renewable to continuously Finally, with market.
liquidity capital. through Energy interest rate the swaps debt Partners to billion maturities its given had approximately can and to Energy so Partners rate this that of numerous also quarter, can At access the of believe, efficiently, has first we ways volatility $X do it manage of billion ample NextEra XXXX. liquidity NextEra end on interest and $X.X finance future growth and
financing, buyouts by a to liquidity ATM convertible utilizing fund combination portfolio to units ample regard or we have common and both program or our With equity or fund we delivering equity at-the-market we can cash payments. of believe
Midstream XX% NextEra Importantly, we most and flexibility financing equity subsidiary's the facility. out funds flexibility cash Energy STX now to bought convertible a leverage and future of revolving opportunistic NextEra portfolio have where Partners we Energy to program, this the to Using this generated expect has from to flexibility, from buyouts the ATM able manage of option. efficient combination be select was credit through a Partners
of has convertible XX% portfolio financing convertible estimate XX equity, and of portfolio complete, raising respectively of approximately for With XXXX Midstream million to capital being that we XX% resulted the financing the the units with block and convertible issued, equity portfolio STX buyouts equity benefit compared fewer equity the all XX% the underwritten or structure in unitholders. financing
For respectively. files these approximately limited common net of be units the buyouts $XXX equity financing XX% of to remaining XX% to and portion year, with convertible the STX million the requiring the the Midstream equity of renewables portfolio of equity [ph] are portfolio balance expected and the financing now $XXX of million to convertible
the months, efficient buyouts these to most flexibility next Over the eight have and in we way. manage time opportunistically
quarter, days three of option. manageable. exceed the buyouts will quite make total some two. most average unit have not the will trading convertible the buyout, to are portfolio from For event, expect the deliver program we each to utilize we potential ATM select the investor, these issuance In per units volume of combination which the or Ultimately, efficient them an flexibility any equity we financing to common of expected
through its growth including equity trading convertible Energy expectations current financing Partners' buyouts yields. portfolio importantly, already Most factor XXXX financing NextEra at in plan,
Turning quarterly an from this to the Partners unit Inclusive declared up of earlier. year $X.XX $X.XXXX has growth. its unit since Yesterday of distribution nearly per a distribution Board Energy common unit IPO. or Energy common NextEra basis, per up annualized Partners the XXX% on LP NextEra quarter, XX% approximately a per grown distribution
Partners that for Resources into cash of with and operating available pleased an an projects yield. acquire are approximately portfolio XXX-megawatt solar to announce has long-term contracted and Energy we NextEra Energy agreement wind distribution to Today attractive entered
approximately has years, portfolio Service. The rating life customer BBB Investors average BaaX distribution, high-quality of at a average S&P credit Moody's an of available contract XX remaining cash for weighted at and
NextEra Energy for Partners the $XXX to debt subject closing is portfolio's existing inclusive and $XXX million. is expected be the which are approximately portfolio project to interest rate swaps acquire to approximately of estimated adjustments million, and
funded approximately In to expected existing is $XXX to is Partners price also debt be new the a assume financing to purchase portfolio's and corporate the tax combination credit expected Energy price, equity The addition by NextEra million remaining revolving finance project of balance. the purchase facility.
is assets service to cash project rate distribution and million five-year of to $XXX to million XX existing $XXX the $XX debt prior contribute approximately of million December portfolio available basis, expected on run average a approximately XXXX. to annual adjusted of The million, EBITDA beginning for each $XX
quarter to in The of transaction the year. is expected close second this
by portfolio of Additional in can to details be Partners the the appendix of NextEnergy today's found on presentation. assets be acquired
its And adjusted expects Partners the EBITDA be positioned will year-end transaction with and expectations. run to available XXXX Next today, XXXX. Energy opportunistic distribution announced the in cash acquisitions for of rate to remain closing NextEnergy pursuing meet Partners well
detailed the to Turning results.
in megawatts in contributions by management's million delivered and $XXX for the acquired million of cash Energy year, primarily adjusted from the X,XXX quarter of increased prior available with expectations. approximately by net NextEra projects EBITDA XXXX. EBITDA Adjusted distribution new Partners driven favorable $XX versus line results first
distributions cash Both available lower existing negatively resource projects. from EBITDA and were affected adjusted by for
lower and payments. Additionally, versus payable was year cash due available prior comparable period incremental of from debt service distribution the to timing
full the double-digit distribution per to for available year XXXX. for of and we Partners, expectation growth the range adjusted in Looking NextEra EBITDA forward Energy XX% cash of half unit strong in XXXX, distribution expect support to growth second XX%
Additional shown details the on accompanying are slide.
billion expect $XXX for XXXX, at cash and of from forecasted available and ranges to run its to contributions $XXX rate Energy $X.XX NextEra Partners million the for adjusted billion million to $X.XX continues EBITDA distributions respectively. to be December XX, portfolio in
rate which the from and run As a impact expense. treat reflect IDR XXXX contribution reminder, XXXX calendar as fees, at year-end an forecasted projections the include XXXX of year we operating portfolio year-end
always, our are usual to operating expectations As caveats normal weather including and subject our conditions.
quarter rate fourth unit as range at growth XXXX in least LP XX% From continue distributions annualized of a to common a base to per of being $X.XX, year expectations per see an at of our XXXX. through XX% we reasonable distribution
NextEra And expectations trade Partners meet comfortable remain with in is the Energy its current Resources at growth these to believes fact one expectations. portfolio growth continue XXXX. Energy even We alone through yield, just it can way
payable For common rate XXXX fourth expect $X.XX of the the to February be in XXXX, annualized $X.XX unit. XXXX distribution quarter we to of range is a that per in
to to of We achieve to also our distribution XX% continue expect XXXX growth XX%.
NextEra Energy and customer continue continue high delivering prospects. we on to believe to means long-term that on smart value both summary, and executing customer FPL growth their investments At outstanding on proposition Energy bills, deliver to Partners service. its reliability capital low that of are well-positioned NextEra In
decarbonization further both to capitalize we unmatched expand non-power and portfolio growth to green of and sector on leveraging Resources holders. provide expect unit and Energy visibility energy emerging technologies new the leading for long-term distribution its like to Partners, low-cost Eneregy that In on power NextEra sector best-in-class the competitive means its clean hydrogen. advantages to renewals At growth its capitalize
With that, we questions. to happy are your address
