Summary

Headquartered in Juno Beach, Florida, NextEra Energy provides generation, transmission, and distribution services. NEE has about 37,000 MW of total generating capacity, and about one-third of electricity is contributed by renewable wind and solar sources. The company also operates seven nuclear plants.

The company’s largest electric utility is FPL, one of the largest vertically integrated electric utilities in the U.S., with approximately 5.8 million customer accounts that generate about two-thirds of earnings. NEER, a nonregulated subsidiary, is the largest U.S. generator of wind and solar power and a leader in battery storage and renewable infrastructure. Its affiliated entities include NextEra Energy Partners LP, which trades as NEP. Argus Research does not cover NEP.

The company’s focus is on electricity and renewable generation. In 2023, it sold its Texas and Pennsylvania pipeline businesses and its gas utility, FCG. NextEra Energy has a generation presence in 38 states and four Canadian provinces, and is ahead of many peers in the use of renewable