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The statistics highlight NextEra Energy’s Revenue by Segment, split between revenue from FPL and NEER segments, reported quarterly from Q1 2016 onwards.
NextEra Energy generates revenue primarily through two businesses, FPL and NEER. FPL has contributed the most in the first quarter of 2023, accounting for 58.35% of the total revenue earned. NEER has been the second largest contributor to the total revenue, accounting for 42.57% of the total revenue in the same quarter. Corporate and other businesses have only contributed approximately 0.074% of the total revenue.
|Segment||2022 Q4||2023 Q1||Revenue mix in 2023 Q1|
|Corporate & Other||10,00,000||50,00,000||0.0744%|
FPL is the largest electric utility in the state of Florida and one of the largest electric utilities in the U.S. FPL provides a comprehensive transmission and distribution system that connects its power generation sites to its electric customers. Additionally, FPL is involved in the retail gas sector and caters to around 119,000 residential and commercial customers in eight southern Florida counties. The company manages an extensive network of 3,795 miles of natural gas distribution pipelines. FPL serves more than 12 million people through approximately 5.8 million customer accounts. FPL’s service to its electric retail customers is offered primarily under franchise agreements negotiated with municipalities or counties. To ensure flexibility and adaptability in its fuel supply, FPL utilizes a variety of sources for its power generation facilities. Some of these facilities are capable of working on both natural gas and low sulfur diesel, and the company also procures additional power when needed.
NEER, which stands for NextEra Energy Resources, is a dominant force in the renewable energy sector, specifically in wind and solar power generation. It is also highly regarded for its expertise in battery storage technology. NEER’s primary strategic focus revolves around developing, constructing, and operating long-term contracted assets in the United States and Canada. These assets typically consist of clean energy facilities such as renewable power plants, battery storage projects, and electric transmission infrastructure.
NEER includes both NEE’s competitive energy ventures and rate-regulated transmission business, making it a diversified clean energy entity. With a significant total net generating capacity of approximately 27,400 MW, NEER stands as one of the largest wholesale power generators in the United States. This capacity includes approximately 26,890 MW across 40 states in the U.S. and 520 MW across 4 Canadian provinces. Moreover, NEER operates facilities, either wholly or partially owned, with a combined generating capacity of around 33,800 MW.
About NextEra Energy
NEE is one of the largest electric power and energy infrastructure companies in North America and a leader in the renewable energy industry. It was founded in the year 1925. NEE operates through FPL and NEER to generate power and produce renewable energy. Fortune’s 2022 list of “World’s Most Admired Companies” ranks NextEra Energy as the top company in the electric and gas utilities industry. NextEra Energy is a prominent company known for its expertise in the development, construction, and operation of energy infrastructure, which includes power generation plants, electric transmission networks, natural gas pipelines, and energy storage facilities.
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