Funding and Capital Structure

Adjusted Capitalization(1,2)

On an adjusted basis, NextEra Energy’s capital structure is comprised of 51% equity.

Schedule of Total Debt & Equity

* Data as of June 30, 2025

Peer Comparison of Adjusted Debt as a Percentage of Total Capitalization(1)

NextEra Energy remains focused on balance sheet strength, as demonstrated through its conservative use of debt, which is the lowest amongst its key peers on an adjusted basis.

    Color
NEE 49% #30a310
Peer A 49% #007db6
Peer B 55% #007db6
Peer C 57% #007db6
Peer D 59% #007db6
Peer E 62% #007db6
Peer F 62% #007db6
Peer G 63% #007db6
Peer H 64% #007db6
Peer I 64% #007db6
Peer J 66% #007db6

 1) Peer data as of December 31, 2024 from S&P Capital IQ, NextEra data as of June 30, 2025 

Historical Funding

NextEra Energy utilizes a broad and diverse set of financing structures to meet its capital requirements.

Florida Power & Light

Outstanding Debt

Debt Outstanding as of June 30, 2025

(dollars in millions)

  Total Debt Current Portion & Short-Term Debt Long-Term Portion
Florida Power & Light - Outstanding Debt

First Mortgage Bonds $22,890 $600 $22,290

Tax-Exempt Bonds $1,663 - $1,663
Other Debt $2,123 $141 $1,983
  Senior Notes $715 - $715 
  Term Loans $500
$500 $500 

Unamortized debt expense $(235) - $(235)

Unamortized discount $(54) - $(54)

Subtotal $27,602 $1,240 $26,362

Commercial Paper $1,327 $1,327 -
Total Florida Power & Light Debt $28,929 $2,567 $26,362

NextEra Energy Capital Holdings

Outstanding Debt

Debt Outstanding as of June 30, 2025
(dollars in millions)
  Total Debt Current Portion & Short-Term Debt Long-Term Portion
NextEra Energy Capital Holdings(1) - Outstanding Debt
Debentures $28,898 $3,600 $25,298
Debentures related to equity units $5,500 - $5,500
Junior subordinated debentures (hybrids) $9,804 $9,435
  Convertible senior note  $1,000 - $1,000
Term Loans $507 $138 $369
  Revolving credit draws  $550 $550 -
  Bonds Payable: Hedge Offset - - -
Unamortized debt expense $(237) $(2) $(235)
Unamortized discount / premium $(49) - $(49)
Subtotal $45,973 $4,286 $41,687
Commercial Paper $2,700 $2,700 -
Total NextEra Energy Capital Holdings Debt(1) $48,673 $6,986 $41,687

NextEra Energy Resources

Outstanding Debt

Debt Outstanding as of June 30, 2025
(dollars in millions)
  Total Debt Current Portion & Short-Term Debt Long-Term Portion
NextEra Energy Resources - Outstanding Debt
Project Debt


Renewables $13,716 $741 $12,975
Lone Star Transmission $440 - $440
  Trans Bay Cable $366 $17 $349
   NEE Trans MidAtlantic Indiana $38 - $38
   GridLiance Transmission $69
$69 -
   NEE Trans New York $110 $110 -
   NextEra Energy Transmission $1,057 $10 $1,047
Total Project Debt $15,794 $947 $14,848
Unamortized debt expense  $(207) - $(207)
   Unamortized discount - - -
Total NextEra Energy Resources Debt $15,587 $947 $14,641