A Letter from our Chairman and Chief Executive Officer
To all our stakeholders
Thank you for wanting to learn more about NextEra Energy. Thank you for your interest in our achievements and commitments. And thank you for joining us as we pursue our vision to help decarbonize the entire U.S. economy.
I have spent a lot of time with stakeholders like you, not only as the CEO of this great company since early 2022, but also over the last 20 years as part of the greatest team in our industry. I have sat down with customers and shareholders, with regulators and policymakers. I have listened to my fellow CEOs, who are asking what they can do to help decarbonize their operations and build a
Yet our greatest competitive advantage is – and always will be – our team. Our FPL team is dedicated to delivering reliable electricity at an affordable price and to help make Florida an even better place to live. Our NextEra Energy Resources team brings an entrepreneurial mindset to every endeavor, so we can help every customer be even more competitive in their own industries. It is the honor of a lifetime to lead more than 15,000 professionals who come to work every day dedicated to continuous improvement and to making our world a better place. clean energy future for their own customers and families, as well as for all their stakeholders.
My message to them is my message to you: We can help. NextEra Energy is made up of two businesses that are each focused on innovation, customer value and clean energy solutions. Florida Power & Light Company (FPL) is the largest electric utility in the U.S. NextEra Energy Resources is the largest generator in the world of renewable energy from the wind and sun. Both businesses have a decades-long track record of operational excellence, financial discipline and smart investments in clean energy. Both businesses have already proven that energy can be both clean and affordable. Our customers do not face a false choice between one
or the other.
Our company has served customers for nearly 100 years, but it's the future that inspires our team today. We have set an industry-leading goal to decarbonize our own operations - Real Zero carbon emissions – by no later than 2045. Our vision is that clean energy cannot be priced as a luxury good or a nice-to-have. Clean energy must help save customers money on their electric bill.
Renewables have become the lowest-cost option for many customers under various state and federal policies over the years. Yet we believe the economics of clean energy could be much more predictable under the Inflation Reduction Act (IRA). The IRA has greatly reduced short-termism in the renewable energy industry by giving all of us a clearer idea of what federal tax incentives will look like down the road, including for some of the newest technologies that could further accelerate the clean energy transition.
The economics of renewables are increasingly favorable for customers large and small as well as for communities far and wide. Wind, solar and storage projects are often located in America’s rural communities that, in turn, benefit from the additional jobs and tax revenue generated by capital investments in renewables. Local landowners also benefit directly from renewables sited on their property, as the extra income they receive from these projects can serve as a natural hedge against the commodity price risk they often see in global agricultural markets. This extra income also can give them confidence that their family farms will continue to enable the American dream for their children and grandchildren.
Wind, solar and storage projects benefit a broad array of stakeholders, but each renewable project can be complex and require specialized skills and experience to maximize the benefits for everyone. Our company has those skills and experience, and we believe they are second to none. We design and build projects better than our competitors. We finance them better. We operate them better. Our team is constantly learning, constantly improving and constantly delivering even more value for all our stakeholders. These are the competitive advantages that have made us the largest generator of wind and solar in the world and that we believe will enable us to lead the decarbonization of the U.S. economy.
One of our greatest competitive advantages is data. We have the data you get when you provide more electricity than any other utility in America, when you provide it with the highest everyday reliability in the nation and when you restore it following some of the most-intensive hurricanes that have ever made landfall in our country. We have the data you get when you have been generating more wind and solar energy than anyone else in the world for years. Our assets generate approximately 70 billion data points every day, and we have the analytics and the algorithms to help us and our partners understand the tremendous complexity of the electric grid and commodity markets, and how to find the best clean energy solution at the lowest cost for each of our customers.
Yet our greatest competitive advantage is – and always will be – our team. Our FPL team is dedicated to delivering reliable electricity at an affordable price and to help make Florida an even better place to live. Our NextEra Energy Resources team brings an entrepreneurial mindset to every endeavor, so we can help every customer be even more competitive in their own industries. It is the honor of a lifetime to lead more than 15,000 professionals who come to work every day dedicated to continuous improvement and to making our world a better place.
On behalf of all our team members, thank you for the opportunity to partner with you.
John Ketchum
NextEra Energy Chairman & CEO
