NextEra Energy, Inc. (NEE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Nextera Energy, Inc. (NEE) está a la vanguardia de la innovación transformadora de energía renovable, pionero en un modelo de negocio sofisticado que combina la tecnología de vanguardia, las asociaciones estratégicas y la generación de energía sostenible. Al aprovechar una cartera expansiva de recursos eólicos y solares, NEE se ha posicionado como un líder global en soluciones de energía limpia, lo que impulsa la sostenibilidad ambiental al tiempo que ofrece un rendimiento financiero sólido a través de una estrategia comercial meticulosamente elaborada que reinventa cómo las utilidades modernas pueden crear valor en un carbono cada vez más carbono. -Laza consciente del mundo.

NEXTera Energy, Inc. (NEE) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con fabricantes de equipos de energía renovable

Nextera Energy mantiene asociaciones estratégicas con fabricantes de equipos clave:

Fabricante	Enfoque de asociación	Tipo de equipo
Sistemas de viento de Vestas	Suministro de turbina eólica	V150-4.2 MW Turbinas
Primero solar	Adquisición del módulo fotovoltaico	Paneles solares de la Serie 6
Electric General	Sistemas de inversores eólicos e solares	Tecnología de inversores a escala de cuadrícula

Asociaciones con compañías de servicios públicos y operadores de redes

NEXTera Energy colabora con múltiples redes de utilidad:

• Poder de Florida & Acuerdos de interconexión de luz (FPL)
• Asociaciones de integración de cuadrícula ERCOT en Texas
• Coordinación de transmisión de interconexión de PJM

Colaboración con agencias gubernamentales para iniciativas de energía limpia

NEXTera Energy se asocia con agencias federales y estatales:

Agencia	Tipo de colaboración	Monto de la inversión
Departamento de Energía de los Estados Unidos	Investigación de energía renovable	$ 124 millones
Departamento de Protección Ambiental de Florida	Infraestructura de energía limpia	$ 87.5 millones

Empresas conjuntas en desarrollo de energía solar y eólica

Las asociaciones clave de la empresa conjunta incluyen:

• NEXTERA Energy Resources - Asociación 50/50 con Canadian Solar for Utility Scale Projects
• Colaboración del Grupo de Energía Renovable para la integración de biodiesel
• Pattern Energy Group LP Asociación de desarrollo de parques eólicos

Asociaciones tecnológicas para soluciones de almacenamiento de energía

Colaboraciones de almacenamiento de tecnología de Nextera Energy:

Socio tecnológico	Tecnología de almacenamiento	Capacidad
Tesla	Sistemas de batería de iones de litio	250 MW
Energía de fluencia	Almacenamiento de batería a escala de cuadrícula	180 MW

NEXTera Energy, Inc. (NEE) - Modelo de negocio: actividades clave

Generación de energía renovable (energía solar y eólica)

Nextera Energy posee 22.900 MW de capacidad de generación eólica y 3.500 MW de capacidad de generación solar a partir de 2023. La compañía genera aproximadamente 57.5 millones de MWh de energía renovable anualmente.

Tipo de energía renovable	Capacidad instalada (MW)	Generación anual (MWH)
Energía eólica	22,900	48.5 millones
Energía solar	3,500	9.0 millones

Transmisión y distribución de energía eléctrica

Poder de Florida & Light (FPL) atiende a 5,7 millones de cuentas de clientes en Florida, que cubre 35 condados con 75,000 millas de líneas de transmisión y distribución.

Desarrollo de infraestructura energética

• Inversión de capital de $ 9.3 mil millones en 2023
• Tubería de proyecto de energía renovable planificada de 17,000 MW
• Expansión de capacidad de almacenamiento de la batería de 3.500 MW para 2026

Investigación y desarrollo en tecnologías de energía limpia

Nextera Energy invierte $ 350 millones anuales en I + D de energía limpia, enfocándose en:

• Tecnologías avanzadas de paneles solares
• Soluciones de almacenamiento de energía a escala de cuadrícula
• Producción de hidrógeno verde

Ventas de electricidad y gestión de servicio al cliente

Métrico	2023 datos
Ventas totales de electricidad	141.8 millones de MWh
Cuentas de clientes	5.7 millones
Tarifa residencial promedio	$ 0.12 por kWh

NEXTera Energy, Inc. (NEE) - Modelo de negocio: recursos clave

Extensa cartera de energía renovable

Nextera Energy posee 26.130 MW de capacidad eólica y 5.404 MW de capacidad solar a partir de 2023. La compañía opera activos de energía renovable en 21 estados de EE. UU.

Tipo de energía renovable	Capacidad (MW)	Número de instalaciones
Energía eólica	26,130	124
Energía solar	5,404	42

Tecnologías avanzadas de almacenamiento de energía

Nextera Energy ha invertido $ 1.2 mil millones en proyectos de almacenamiento de baterías con 1,800 MW de capacidad de almacenamiento a partir de 2023.

• Sistemas de almacenamiento de baterías desplegados en múltiples estados
• Soluciones de almacenamiento de energía a escala de cuadrícula
• Integración de tecnología de baterías de iones de litio

Ingeniería especializada y fuerza laboral técnica

Nextera Energy emplea a aproximadamente 18.800 trabajadores a partir de 2023, con equipos especializados en ingeniería de energía renovable y operaciones técnicas.

Capital financiero para la infraestructura

Los activos totales de Nextera Energy: $ 195.2 mil millones (informe anual de 2022) Gastos de capital: $ 10.3 mil millones en 2022

Métrica financiera	Cantidad	Año
Activos totales	$ 195.2 mil millones	2022
Gastos de capital	$ 10.3 mil millones	2022

Tecnologías de energía renovable patentada

Nextera Energy posee 87 patentes de energía renovable a partir de 2023, centrándose en la tecnología de la turbina eólica y la optimización de energía solar.

• Patentes de eficiencia de la turbina eólica
• Tecnologías de mejora del rendimiento del panel solar
• Innovaciones de software de integración de cuadrícula

NEXTera Energy, Inc. (NEE) - Modelo de negocio: propuestas de valor

Soluciones de energía limpia y sostenible

Nextera Energy generó 45.7 millones de MWh de energía renovable en 2022, con 25.8 millones de MWh del viento y 19.9 millones de MWh de fuentes solares. La compañía posee 22 gigavatios de viento y 4 gigavatios de capacidad de generación solar.

Tipo de energía renovable	Capacidad de generación (GW)	MWH generado en 2022
Viento	22	25.8 millones
Solar	4	19.9 millones

Generación y distribución de electricidad confiable

Nextera Energy atiende a aproximadamente 5.7 millones de cuentas de clientes en Florida a través de Florida Power & Compañía ligera. La compañía mantiene un Tasa de confiabilidad del 99.99% Para la distribución de electricidad.

Precios competitivos para energía renovable

El costo de energía nivelado de energía renovable de Nextera Energy (LCOE) es de $ 36 por MWh para el viento y $ 40 por MWH para la energía solar, que es significativamente más bajo que los costos de generación de combustibles fósiles tradicionales.

Reducción de emisiones de carbono e impacto ambiental

• Reducidas emisiones de carbono en 49 millones de toneladas métricas en 2022
• Comprometido con emisiones de carbono neto-cero para 2045
• Invirtió $ 13.5 mil millones en infraestructura de energía limpia en 2022

Tecnologías y soluciones de energía innovadores

Nextera Energy Resources invirtió $ 1.4 mil millones en tecnologías de almacenamiento de baterías en 2022, con una capacidad de almacenamiento total de 420 MW en varios proyectos.

Inversión tecnológica	Monto invertido	Capacidad total
Almacenamiento de la batería	$ 1.4 mil millones	420 MW

NEXTera Energy, Inc. (NEE) - Modelo de negocios: relaciones con los clientes

Contratos a largo plazo con compañías de servicios públicos

Nextera Energy tiene 13.8 millones de cuentas de clientes en Florida a partir de 2023. La compañía mantiene los acuerdos de compra de energía a largo plazo (PPA) con una duración promedio de contrato de 15-20 años.

Tipo de contrato	Número de acuerdos	Valor total del contrato
Contratos de servicios públicos	87	$ 12.4 mil millones
PPA de energía renovable	52	$ 7.6 mil millones

Plataformas de participación de clientes digitales

Nextera Energy invierte $ 145 millones anuales en infraestructura digital y tecnologías de participación del cliente.

• Descargas de aplicaciones móviles: 2.3 millones
• Usuarios de administración de cuentas en línea: 6.7 millones
• Tasa de pago de la factura digital: 78%

Servicios de gestión de energía personalizados

La compañía ofrece soluciones de energía personalizadas con una inversión de $ 92 millones en plataformas tecnológicas centradas en el cliente.

Categoría de servicio	Número de clientes	Ingresos anuales
Soluciones inteligentes de energía para el hogar	425,000	$ 67.3 millones
Gestión de energía comercial	12,500 empresas	$ 214.6 millones

Comunicación transparente sobre sostenibilidad energética

Nextera Energy asigna $ 38 millones anuales a la comunicación e informes de sostenibilidad.

• Descargas del informe de sostenibilidad: 95,000
• Iniciativas de transparencia de reducción de carbono: 14 programas activos
• Eventos de participación comunitaria: 76 por año

Atención al cliente y asistencia técnica

La compañía mantiene una infraestructura integral de atención al cliente con $ 62 millones invertidos en tecnologías de soporte.

Canal de soporte	Volumen de interacción anual	Tiempo de respuesta promedio
Soporte telefónico	3.2 millones de llamadas	7.5 minutos
Chat en línea	1,6 millones de interacciones	4.2 minutos
Soporte por correo electrónico	875,000 boletos	12.3 horas

NEXTera Energy, Inc. (NEE) - Modelo de negocio: canales

Ventas directas a compañías de servicios públicos

Nextera Energy genera $ 19.1 mil millones en ingresos de servicios públicos a través de Florida Power & Light Company (FPL) a partir de 2022. Los canales de ventas directos incluyen:

• Ventas de servicios públicos regulados a 5.7 millones de cuentas de clientes
• Contratos empresariales directos comerciales e industriales
• Transacciones al por mayor del mercado de electricidad

Canal de ventas	Ingresos anuales	Segmento de clientes
Ventas de servicios públicos residenciales	$ 11.4 mil millones	5.2 millones de hogares
Ventas de servicios públicos comerciales	$ 4.7 mil millones	500,000 cuentas comerciales
Contratos de energía industrial	$ 3 mil millones	Grandes clientes empresariales

Plataformas de servicio al cliente en línea

Los canales de participación digital incluyen el portal en línea MyFPL con 3.2 millones de usuarios registrados y aplicaciones móviles con 1.8 millones de usuarios mensuales activos.

Interacciones del mercado energético

NEXTera Energy Resources genera $ 2.3 mil millones en ingresos del mercado de energía renovable a través de:

• Transacciones del mercado de energía eólica
• Ventas del mercado de energía solar
• Contratos del sistema de almacenamiento de baterías

Equipos estratégicos de desarrollo de negocios

Nextera mantiene 287 profesionales de desarrollo empresarial en sectores de energía renovable y servicios públicos, generando $ 21.4 mil millones en ingresos corporativos totales en 2022.

Conferencias de la industria y eventos de redes

Participación anual en 42 conferencias principales de la industria energética con un valor estimado de participación de redes de $ 15.6 millones.

Tipo de conferencia	Participación anual	Valor de red estimado
Conferencias de energía renovable	18 eventos	$ 7.2 millones
Conferencias de la industria de servicios públicos	24 eventos	$ 8.4 millones

NEXTera Energy, Inc. (NEE) - Modelo de negocio: segmentos de clientes

Compañías de servicios públicos y operadores de redes

Nextera Energy atiende a 5,7 millones de cuentas de clientes en Florida a través de Florida Power & Compañía ligera (FPL). El segmento de clientes del operador de la red representa el 100% del territorio de servicio de electricidad de Florida.

Tipo de cliente	Número de cuentas	Cobertura del mercado
Cuadrícula de servicios públicos de Florida	5.7 millones	100% del territorio de servicio de Florida

Consumidores de energía comercial e industrial

Nextera Energy Resources atiende a aproximadamente 15 clientes comerciales e industriales a gran escala en múltiples estados.

• Sectores de fabricación intensivo en energía
• Empresas tecnológicas
• Grandes campus corporativos

Clientes de electricidad residencial

FPL atiende a 5,7 millones de cuentas de clientes residenciales con $ 4.5 mil millones en ingresos de electricidad residencial para 2022.

Categoría de clientes	Cuentas totales	Ingresos anuales
Clientes residenciales	5.7 millones	$ 4.5 mil millones

Departamentos de energía gubernamental y municipal

Nextera Energy ofrece soluciones de energía renovable a 25 gobiernos municipales y departamentos de energía a nivel estatal.

Inversores de energía renovable a gran escala

NEXTera Energy Resources administra 28.3 Gigawatts de capacidad de generación de energía renovable, atrayendo inversores institucionales.

Segmento de energía renovable	Capacidad de generación	Escala de inversión
Cartera de energía renovable	28.3 GW	Inversiones de grado institucional

NEXTera Energy, Inc. (NEE) - Modelo de negocio: Estructura de costos

Gastos de capital para la infraestructura de energía renovable

Nextera Energy invirtió $ 9.4 mil millones en gastos de capital en 2022. Inversiones de infraestructura de energía renovable se rompieron de la siguiente manera:

Categoría de infraestructura	Monto de la inversión
Proyectos de energía eólica	$ 3.6 mil millones
Proyectos de energía solar	$ 2.8 mil millones
Infraestructura de almacenamiento de baterías	$ 1.2 mil millones

Inversiones de investigación y desarrollo

Nextera Energy asignó $ 287 millones a la investigación y el desarrollo en 2022, centrándose en:

• Tecnologías avanzadas de energía renovable
• Modernización de la cuadrícula
• Soluciones de almacenamiento de energía
• Tecnologías de producción de hidrógeno

Mantenimiento operativo de las instalaciones de energía

Los costos anuales de mantenimiento operativo para 2022 totalizaron $ 1.6 mil millones, distribuidos en todo:

Tipo de instalación	Gasto de mantenimiento
Instalaciones de viento	$ 672 millones
Instalaciones solares	$ 456 millones
Centrales nucleares	$ 328 millones
Instalaciones de gas natural	$ 144 millones

Adquisición de tecnología y equipo

Nextera Energy gastó $ 1.1 mil millones en adquisiciones de tecnología y equipo en 2022, que incluye:

• Equipo de generación de energía renovable
• Tecnologías de gestión de cuadrícula
• Infraestructura de ciberseguridad
• Sistemas de monitoreo avanzado

Compensación y capacitación de la fuerza laboral

Los gastos totales relacionados con la fuerza laboral para 2022 fueron de $ 1.3 mil millones:

Categoría de gastos	Cantidad
Salarios base	$ 862 millones
Beneficios	$ 276 millones
Capacitación y desarrollo	$ 162 millones

NEXTERA ENERGY, Inc. (NEE) - Modelo de negocio: flujos de ingresos

Ventas de electricidad a compañías de servicios públicos

Nextera Energy informó ingresos operativos totales de $ 21.3 mil millones en 2022. Ventas de electricidad a clientes de servicios públicos regulados a través de Florida Power & Light Company (FPL) generó aproximadamente $ 12.4 mil millones en ingresos.

Segmento	Ingresos (2022)	Porcentaje de ingresos totales
Utilidad eléctrica regulada	$ 12.4 mil millones	58.2%
Recursos energéticos	$ 8.9 mil millones	41.8%

Créditos e incentivos de energía renovable

NEXTera Energy generó aproximadamente $ 672 millones a partir de créditos fiscales de energía renovable en 2022.

• Créditos fiscales de producción (PTC): $ 456 millones
• Créditos fiscales de inversión (ITC): $ 216 millones

Acuerdos de compra de energía

La empresa tiene 55.4 GW de proyectos de energía renovable contratados con varios acuerdos de compra de energía en múltiples estados.

Tipo de acuerdo	Capacidad contratada	Ingresos anuales estimados
PPA de energía eólica	32.6 GW	$ 3.2 mil millones
PPA de energía solar	22.8 GW	$ 2.8 mil millones

Contratos de solución de almacenamiento de energía

NEXTera Energy tiene 2.5 GW de proyectos de almacenamiento de energía con ingresos anuales proyectados de $ 380 millones.

Servicios de consultoría y licencia de tecnología

Los servicios de licencias y consultoría de tecnología generaron aproximadamente $ 124 millones en ingresos adicionales para 2022.

• Licencias de tecnología de energía renovable: $ 78 millones
• Consultoría de gestión de energía: $ 46 millones

NextEra Energy, Inc. (NEE) - Canvas Business Model: Value Propositions

Low-cost, high-reliability electricity for Florida's growing population

Florida Power & Light (FPL), NextEra Energy, Inc.'s regulated utility, provides power to about 12 million people across Florida. You can expect predictable returns from this segment, which is supported by a constructive regulatory framework. The Q3 2025 adjusted earnings per share (EPS) for FPL was $0.71, with FPL earnings improving to $1.4 billion in that quarter.

The approved 2025 base rate settlement locks in substantial revenue visibility for FPL, with annualized retail base revenue increases of $945 million beginning January 1, 2026, and an additional $705 million starting January 1, 2027. FPL is expanding its rate base at roughly 8% annually, supported by a projected customer base growth of approximately 335,000 accounts through 2029. Still, typical FPL residential bills remain about 20% below the national average when adjusted for inflation compared to 20 years ago.

FPL Regulated Return Metric	Value/Range
Authorized Regulatory Return on Equity (ROE) Midpoint	10.95%
Authorized Regulatory ROE Band	9.95% - 11.95%
Authorized Regulatory Equity Ratio	59.6%
Rate Stabilization Mechanism (RSM) Capacity	Up to $1.155 billion

Scalable, long-term contracted clean energy for corporate and utility clients

NextEra Energy Resources, the non-regulated arm, focuses on long-term contracted renewable generation. The company's backlog of signed contracts for renewables and storage stood at 27.7 GW as of April 23, 2025. By the end of Q3 2025, this backlog had grown to nearly 29.6 GW after adding 3 GW of new renewables and storage in that quarter alone. Management plans to develop between 36.5 GW and 46.5 GW of renewable and battery storage projects over the 2024-2027 period. Adjusted EBITDA from regulated and contracted businesses is expected to make up 90% to 95% of total consolidated EBITDA over the next three years.

• Record addition of 3.2 GW in new renewables and storage in Q1 2025.
• Landmark agreement with Entergy for up to 4.5 GW of solar and energy storage.
• Agreements signed for over 3 GW of renewables, including an 860-MW deal with Google.
• Aim to operate a 70-gigawatt generation and storage portfolio by 2027.

Grid stability and resilience via Battery Energy Storage Systems (BESS)

NextEra Energy is making substantial capital commitments to BESS to firm up its renewable portfolio and ensure grid reliability. NextEra Energy Resources added 8.7 GW of new renewables and storage projects in 2025. For 2025, NextEra Energy Resources invested $7.33 billion in solar and solar-plus-battery storage projects. The company secured a $301 million deal for 6.3 GWh of energy storage system (ESS) batteries. The strategy includes FPL planning to deploy 7.6 gigawatts of battery storage over the next decade.

Enabling the exponential energy demand of hyperscalers and AI data centers

The value proposition here is becoming the go-to provider for power-hungry digital infrastructure. Estimates suggest U.S. data centers could require an additional 22.5 to 30 gigawatts (GW) of energy by 2030. NextEra Energy has a massive $74 billion investment plan earmarked for clean energy and storage, explicitly targeting this AI-driven demand. The company's Q1 2025 record addition of 3.2 GW in new capacity was directly aimed at this burgeoning demand. A key example is the 25-year nuclear power purchase agreement (PPA) with Google, which accelerates the Duane Arnold restart, a project expected to add about $0.16 to annual EPS once operational.

Predictable, regulated returns from the Florida Power & Light (FPL) rate base

The regulated utility business provides a foundation of stable, predictable returns. The authorized regulatory ROE for FPL is set at 10.95%, with a defined band of 9.95% to 11.95%, and a regulatory equity ratio of 59.6%. Management reaffirmed an adjusted EPS growth outlook for NextEra Energy of 6-8% through 2027. The Q3 2025 adjusted EPS for the entire company was $1.13, up 9.7% year-over-year.

NextEra Energy, Inc. (NEE) - Canvas Business Model: Customer Relationships

You're looking at how NextEra Energy, Inc. manages its two very different customer bases: the regulated residential/commercial base served by Florida Power & Light (FPL) and the wholesale/contracted customers of NextEra Energy Resources (NEER). The relationship style is fundamentally different for each.

Regulated relationship with FPL customers via public service commission oversight

For Florida Power & Light (FPL), the relationship is strictly defined by the Florida Public Service Commission (PSC) oversight. This structure dictates rate recovery and service standards. FPL is America's largest electric utility, serving approximately 6.0 MM customer accounts or about 12 million people across Florida as of late 2024. The current regulatory relationship is shaped by FPL's 2025 base rate proceeding filing, which requests base rate adjustments of approximately $1.6 billion in 2026 and $0.9 billion for 2027. If approved, this plan targets an estimated average annual increase in total customer bills of approximately 2.5% from January 2025 through the end of 2029. This regulated environment also mandates high performance; FPL's distribution service reliability was 59% better than the national average in 2024.

The relationship is also defined by managing growth and investment recovery:

• FPL added about 275,000 customers since 2021.
• The utility expects to add about 335,000 more customers through the end of 2029.
• Smart-grid devices helped avoid 2.7 million customer outages across 2024.
• The company plans to invest approximately $50 billion from 2025-2029.

Dedicated account management for large-scale wholesale customers (NEER)

NextEra Energy Resources (NEER) deals with sophisticated, large-scale wholesale customers like utilities, municipalities, and major corporations, often centered around long-term Power Purchase Agreements (PPAs). This requires dedicated account management, focusing on customized energy solutions rather than standard service delivery. NEER is the '#1 originator for U.S. power and commercial & industrial customers'. The company is actively growing its contracted portfolio, adding 3.2 gigawatts (GW) to its backlog in the second quarter of 2025 alone.

Here's a look at the scale of these wholesale relationships:

Metric	Value (as of early/mid-2025)
Total Renewables and Storage Backlog	~28 GW
Total Renewables and Storage Pipeline	~300 GW
Backlog Serving Technology/Data Center Customers	Approximately 6 GW
Average Counterparty Credit Rating on PPAs	A-

Long-term, contract-based relationships with PPA counterparties

The core of the NEER relationship model is the long-term, fixed-rate contract, which provides revenue predictability for NextEra Energy, Inc. and helps counterparties meet their own sustainability goals. These are not month-to-month arrangements; they are multi-year commitments. For example, a recent PPA with Nucor Corporation supports a solar project expected to begin commercial operation in December 2025. These non-regulated assets generate predictable revenue backed by these long-term, fixed-rate contracts. The commitment to long-term contracted investments is a key feature of the business model.

Automated digital self-service tools for FPL residential customers

For the millions of FPL residential customers, the relationship leans heavily on digital self-service to manage routine interactions efficiently. While specific usage statistics for digital tools aren't provided, the focus on technology is clear through reliability metrics. Customers use digital channels to track outages and manage accounts, which supports the utility's efficiency goals. The company's commitment to technology is evident in its investment plans, including adding new solar generation with cost recovery through programs like SolarTogether®, a voluntary community solar program where participants pay a fixed monthly subscription charge.

Proactive communication during storm preparation and restoration

When severe weather hits, the relationship shifts to urgent, proactive communication to manage expectations and demonstrate rapid response. Following Hurricane Milton in October 2024, FPL restored power to more than 1.9 million customers, which was over 95% of those impacted, utilizing a restoration workforce of 20,000 men and women from 41 states and Canada. Just prior to that, after Hurricane Helene in September 2024, FPL restored power to 93% of affected customers within 24 hours of the storm exiting the state, restoring over 634,000 customers. Even in August 2024, during Hurricane Debby, smart grid technology helped avoid nearly 85,000 outages while crews restored power to nearly 250,000 customers.

Here's a snapshot of recent storm response performance:

• Hurricane Milton (Oct 2024): Restored power to over 95% of 1.9 million impacted customers.
• Hurricane Helene (Sep 2024): Restored 93% of affected customers within 24 hours of storm exit.
• Hurricane Debby (Aug 2024): Avoided nearly 85,000 outages via smart grid tech.

Finance: draft 13-week cash view by Friday.

NextEra Energy, Inc. (NEE) - Canvas Business Model: Channels

Regulated transmission and distribution grid to Florida end-users (FPL)

Florida Power & Light Company, America's largest electric utility, delivers power through its regulated grid infrastructure. This channel serves more than 6 million customer accounts, which equates to approximately 12 million people across nearly half of Florida. The operational scale includes approximately 36 gigawatts (GW) of owned generating capacity. To maintain and expand this service, FPL operates nearly 91,000 circuit miles of transmission and distribution lines, supported by 921 substations. The capital plan for this channel includes investing approximately $21.7 billion through 2029 on T&D infrastructure. For Q3 2025, FPL's earnings per share (EPS) reached $0.71. The utility's revenue for Q2 2025 was up 7.3% year-over-year, totaling $4.71 billion. FPL's rate base is expected to expand at roughly 8% annually.

Direct long-term Power Purchase Agreements (PPAs) with wholesale buyers

NextEra Energy Resources (NEER) utilizes direct, long-term PPAs as a primary channel to wholesale buyers, including corporations and other utilities. The renewables and storage backlog stood at nearly 29.6 GW as of the latest reports. In Q2 2025 alone, NEER added 3.2 gigawatts of new renewables and storage capacity to this backlog. This segment reported earnings of $1.27 billion with an EPS of $0.62 in Q3 2025. Revenue from the NextEra Energy Resources unit jumped 16.4% year-over-year in Q2 2025, reaching $1.91 billion. The company is executing on long-term contracts, such as a landmark agreement for up to 4.5 GW with Entergy and a 25-year PPA with Google for the restarted Duane Arnold nuclear facility.

Metric	Value (Late 2025 Data)	Segment/Context
Renewables & Storage Backlog	Nearly 29.6 GW	NextEra Energy Resources (NEER)
New Backlog Additions (Q2 2025)	3.2 GW	NEER
Backlog for Tech/Data Center Customers	About 6 GW	NEER
Total Expected Capacity for Tech/Data Centers (Operating + Backlog)	Over 10.5 GW	NEER
Assets with PPAs Expiring 2030-2035	~6 GW	NEER
NEER Q3 2025 EPS	$0.62	NextEra Energy Resources

Interconnection points to regional transmission organizations (RTOs)

NextEra Energy Transmission is a competitive transmission company facilitating the movement of power from generation sources, including NEER's renewables, to various markets. The transmission business has a backlog exceeding 25 GW and a total renewables and storage pipeline of ~300 GW. The build-out of high-voltage transmission lines is critical for connecting resource-rich regions to high-demand markets served by RTOs. NEER's operations span 49 U.S. states and four Canadian provinces, indicating a vast network of interconnection points across multiple RTOs and independent system operators.

NextEra Energy Resources' direct sales team for corporate clients

The direct sales effort targets large Commercial & Industrial (C&I) customers, with a significant focus on the technology and data center sector. Approximately 6 GW of the current backlog is specifically earmarked for these technology and data center customers, including AI-focused hyperscalers. Over the last 12 months, the company originated approximately 12.7 GW of new renewables and battery storage projects, much of which is secured via direct sales channels. Strong C&I demand is creating valuable recontracting opportunities for assets with PPAs expiring between 2030 and 2035.

Digital platforms for customer billing and outage reporting

The regulated utility channel, FPL, manages billing and outage reporting for its 6 million customer accounts through its digital platforms. NextEra Energy is actively engaged in digital transformation strategies and innovation programs. The company has utilized AI solutions, such as partnering with HData, to enhance regulatory analytics for its competitive business.

• FPL Customer Accounts: >6 million accounts.
• Digital Focus: Insights into digital transformation strategies and innovation programs.
• Technology Partnership Example: HData for regulatory analytics.

NextEra Energy, Inc. (NEE) - Canvas Business Model: Customer Segments

You're looking at the customer base for NextEra Energy, Inc. as of late 2025. It's a split operation: the regulated utility side serving Florida, and the competitive energy resources arm serving wholesale and corporate buyers across North America. Honestly, the numbers show where the immediate growth engine is firing.

Regulated residential, commercial, and industrial customers in Florida

This is the Florida Power & Light (FPL) segment. They are the bedrock of the company's stability. FPL is the largest electric utility in the U.S. by retail megawatt-hour sales. You need to know the scale here to appreciate the cash flow predictability.

• FPL serves more than 6 million customer accounts.
• This represents approximately 12 million people across Florida.
• FPL's Q1 2025 net income was $1.316 billion.
• For Q2 2025, FPL segment net income rose to $2.028 billion.
• FPL's Q1 2025 revenue reached $3.99 billion.
• The utility has about 36 gigawatts (GW) of generation capacity.
• FPL is planning for approximately 352,000 new customer accounts in 2026.

Large-scale wholesale energy buyers and utilities across North America

NextEra Energy Resources (NEER) handles this. They are selling power, often from renewables, to other utilities and large entities. Their pipeline growth is the key metric here, showing future contracted revenue.

• NEER's total backlog of signed renewable and storage contracts was roughly 28 GW as of Q1 2025.
• In Q1 2025 alone, NEER added about 3.2 GW to this backlog.
• NEER reported Q1 2025 revenue of $2.16 billion.
• Adjusted earnings for NEER in Q1 2025 were $908 million.

Hyperscalers and technology companies demanding clean power

This group falls under NEER's wholesale buyers, but their demand is driving specific project development. They want clean power fast, and NEER is structuring deals to meet that urgency.

• NEER added over 1 gigawatt (GW) of capacity specifically for hyperscalers in Q2 2025 backlog additions.
• The overall development plan targets 36.5 GW to 46.5 GW of renewable and battery storage projects between 2024-2027.

Financial investors seeking tax equity in renewable energy projects

While not direct power customers, financial partners are crucial for funding the massive capital deployment. These transactions often involve selling stakes to realize tax benefits, like the one with Blackstone.

Here's a look at the scale of investment and a relevant transaction:

Metric	Value/Amount	Context
Consolidated Capex Projection (2025-2027)	Exceed $85 billion	Fitch expectation for total capital spending.
Capex to Non-Regulated Businesses (2025-2027)	More than 65%	Indicates the portion reliant on competitive financing structures.
Stake Sale to Blackstone	$900 million	Partial stake sale in a 1.6 GW renewable energy portfolio.

Government and military installations requiring reliable, clean power

This segment is served through the broader wholesale and regulated utility contracts, but specific, publicly itemized contract values for military bases weren't readily available in the latest disclosures. Still, the overall commitment to grid modernization and reliability supports this need.

The core customer segmentation financial snapshot looks like this:

Segment	Q1 2025 Revenue (USD)	Q1 2025 Net Income (GAAP, USD)	Key Customer Metric
FPL (Regulated Utility)	$3.99 billion	$1.316 billion	6 million+ customer accounts served.
NEER (Wholesale/B2B)	$2.16 billion	$172 million (GAAP)	28 GW contracted backlog (as of Q1 2025).

Finance: draft 13-week cash view by Friday.

NextEra Energy, Inc. (NEE) - Canvas Business Model: Cost Structure

You're looking at the core expenditures that power NextEra Energy, Inc.'s massive operations, which is definitely a capital-intensive game. The cost structure is dominated by the need to constantly fund growth and maintain a vast, complex asset base across Florida Power & Light (FPL) and NextEra Energy Resources (NEER).

Massive capital expenditures, FPL projected at $9.3 billion to $9.8 billion in 2025

The sheer scale of investment required to serve Florida's growing population is a primary cost driver. For the full year 2025, Florida Power & Light projects its capital investments to land between $9.3 billion and $9.8 billion. This spending supports grid modernization, storm hardening, and new generation capacity, including solar and battery storage. For context, FPL's capital expenditures for the third quarter of 2025 alone were approximately $2.5 billion.

High interest expense and debt service costs on long-term debt

Financing this growth means carrying significant debt. As of September 30, 2025, NextEra Energy's long-term debt stood at $84.17 billion. This level of leverage translates directly into substantial interest costs. For the three months ending September 2025, the reported Interest Expense on Debt was $1.153 billion (based on the $-1,153 Mil figure reported for that quarter). The company's net debt to EBITDA ratio was reported at 6.4 as of July 1, 2025, indicating a heavy debt load that requires careful management.

Fuel and purchased power costs for generation and grid balancing

While NextEra Energy Resources leans heavily on contracted renewables, FPL still relies on fuel and purchased power, though costs are largely recoverable. For the third quarter of 2025, the combined Fuel, purchased power and interchange expense across FPL and NEER was $1,423 million. FPL utilizes cost recovery clauses to pass substantially all fuel and purchased power costs directly to customers, which matches the cost with related revenue when billed. Still, market volatility, like the forecasted 59% year-over-year increase in natural gas prices from 2024 to 2025, remains a risk factor, even with hedging.

Operations and maintenance (O&M) expenses for a large asset base

Running and maintaining the utility and renewable generation fleets requires consistent O&M spending. The total operating expenses for NextEra Energy for the twelve months ending September 30, 2025, reached $18.665 billion. The specific Operations and Maintenance component for the third quarter of 2025 was significant:

Expense Category (Millions USD)	FPL (Q3 2025)	NEER (Q3 2025)	Corporate and Other (Q3 2025)	Total (Q3 2025)
Other operations and maintenance	432	810	168	1,410

This table shows the quarterly breakdown for Other operations and maintenance expenses for the period ending September 30, 2025.

Regulatory compliance and depreciation of energy assets

Depreciation is a non-cash cost reflecting the aging and utilization of the utility's physical assets, while regulatory compliance costs cover items like environmental mandates. Depreciation and amortization is a major line item, as seen in the third quarter of 2025:

Expense Category (Millions USD)	FPL (Q3 2025)	NEER (Q3 2025)	Corporate and Other (Q3 2025)	Total (Q3 2025)
Depreciation and amortization	1,385	695	16	2,096

The regulatory environment in Florida is generally viewed as supportive, allowing for timely cost recovery. For instance, FPL is requesting rate increases of approximately $1.55 billion in 2026 and $927 million in 2027 through rate cases and the Solar and Battery Base Rate Adjustment (SoBRA) mechanism, which helps recover costs for investments and compliance efforts.

You should review the full quarterly breakdown for a complete picture of operating costs:

• For the three months ended September 30, 2025, Total operating expenses - net were $5,582 million.
• The Fuel, purchased power and interchange cost for Q3 2025 was $1,423 million.
• Other operations and maintenance for Q3 2025 totaled $1,410 million.
• Depreciation and amortization for Q3 2025 was $2,096 million.
• Taxes other than income taxes and other - net for Q3 2025 totaled $653 million.

Finance: draft 13-week cash view by Friday.

NextEra Energy, Inc. (NEE) - Canvas Business Model: Revenue Streams

You're looking at the core ways NextEra Energy, Inc. brings in cash as of late 2025. The largest piece comes from its regulated utility, Florida Power & Light (FPL). FPL brought in $3.99 billion in revenue just in the first quarter of 2025. This revenue is directly tied to the recovery of capital investments through the regulated rate base, which is a key driver for FPL's earnings growth. To support this, FPL spent approximately $2.4 billion in capital expenditures during that same quarter. The regulatory capital employed for FPL grew by about 8.1% year-over-year as of Q1 2025. Also, FPL has proposed base rate adjustments of roughly $1.6 billion in 2026 and $0.9 billion for 2027 to continue recovering these requirements.

Here's a quick look at the top-line revenue components from the first quarter of 2025:

Revenue Source	Q1 2025 Revenue Amount
Regulated Electricity Sales (FPL)	$3.99 billion
Long-Term Contracted Energy Sales (NEER)	$2.16 billion

NextEra Energy Resources (NEER), the competitive arm, generates substantial revenue through long-term contracted energy sales via Power Purchase Agreements (PPAs). For Q1 2025, NEER reported revenue of $2.16 billion. This business focuses heavily on securing long-term contracted renewable generation. The company is actively growing its development pipeline; in Q1 2025, NEER added about 3.2 gigawatts of new renewables and storage projects to its backlog, bringing the total backlog to roughly 28 gigawatts. This growth is supported by the expectation that current federal tax structures, like those from the Inflation Reduction Act, will continue.

Other revenue components flow through the segments:

• NextEra Energy Transmission contributed $0.01 to the adjusted Earnings Per Share (EPS) breakdown for Energy Resources in Q1 2025.
• The regulated business mix, driven by FPL rate base growth and new FERC-regulated transmission investments, is estimated to make up about 75% of NextEra's EBITDA in 2024, staying in the upper half of the 70% to 75% range through 2027.
• The company continues to secure new Federal Energy Regulatory Commission-regulated transmission investments.

Finance: review the impact of the proposed 2026/2027 base rate adjustments on next quarter's regulatory asset recovery forecast by end of next month.