Nextera Energy, Inc. (NEE): Business Model Canvas [Jan-2025 Mise à jour]

Nextera Energy, Inc. (NEE) est à l'avant-garde de l'innovation transformatrice des énergies renouvelables, pionnier d'un modèle commercial sophistiqué qui mélange de manière transparente les technologies de pointe, les partenariats stratégiques et la production d'électricité durable. By leveraging an expansive portfolio of wind and solar resources, NEE has positioned itself as a global leader in clean energy solutions, driving environmental sustainability while delivering robust financial performance through a meticulously crafted business strategy that reimagines how modern utilities can create value in an increasingly carbon -Le monde conscient.

Nextera Energy, Inc. (NEE) - Modèle commercial: partenariats clés

Alliances stratégiques avec les fabricants d'équipements d'énergie renouvelable

Nextera Energy maintient des partenariats stratégiques avec les principaux fabricants d'équipements:

Fabricant	Focus de partenariat	Type d'équipement
Vestas Wind Systems	Éolienne	V150-4.2 MW Turbines
Premier solaire	Achat de module photovoltaïque	Panneaux solaires de la série 6
Électrique générale	Systèmes éoliens et ondulés solaires	Technologie de l'onduleur à l'échelle de la grille

Partenariats avec les sociétés de services publics et les opérateurs de réseau

Nextera Energy collabore avec plusieurs réseaux de services publics:

• Pouvoir de la Floride & Accords d'interconnexion légers (FPL)
• Partenariats d'intégration ERCOT GRID au Texas
• Coordination de transmission d'interconnexion PJM

Collaboration avec les agences gouvernementales pour les initiatives d'énergie propre

Nextera Energy s'associe aux agences fédérales et étatiques:

Agence	Type de collaboration	Montant d'investissement
Département américain de l'énergie	Recherche d'énergie renouvelable	124 millions de dollars
Département de la protection de l'environnement de la Floride	Infrastructure d'énergie propre	87,5 millions de dollars

Coentreprises dans le développement de l'énergie solaire et éolienne

Les partenariats clés de coentreprise comprennent:

• Nextera Energy Resources - 50/50 partenariat avec le solaire canadien pour les projets à l'échelle des services publics
• Collaboration du groupe d'énergie renouvelable pour l'intégration du biodiesel
• Modèle Group LP LP Wend Farm Development Partnership

Partenariats technologiques pour les solutions de stockage d'énergie

Collaborations de stockage technologique de NextEra Energy:

Partenaire technologique	Technologie de stockage	Capacité
Tesla	Systèmes de batterie lithium-ion	250 MW
Énergie de fluence	Stockage de batterie à l'échelle de la grille	180 MW

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: Activités clés

Génération d'énergie renouvelable (solaire et éolien)

Nextera Energy possède 22 900 MW de capacité de production d'éoliennes et 3 500 MW de capacité de production solaire en 2023. La société génère environ 57,5 ​​millions de MWh d'énergie renouvelable par an.

Type d'énergie renouvelable	Capacité installée (MW)	Génération annuelle (MWH)
Énergie éolienne	22,900	48,5 millions
Énergie solaire	3,500	9,0 millions

Transmission et distribution de puissance électrique

Pouvoir de la Floride & Light (FPL) dessert 5,7 millions de comptes clients à travers la Floride, couvrant 35 comtés avec 75 000 miles de lignes de transmission et de distribution.

Développement d'infrastructures énergétiques

• Investissement en capital de 9,3 milliards de dollars en 2023
• Pipeline de projet d'énergie renouvelable prévue de 17 000 MW
• Extension de capacité de stockage de batterie de 3 500 MW d'ici 2026

Recherche et développement dans les technologies d'énergie propre

Nextera Energy investit 350 millions de dollars par an en R&D à énergie propre, se concentrer sur:

• Technologies de panneaux solaires avancés
• Solutions de stockage d'énergie à l'échelle du réseau
• Production d'hydrogène vert

Ventes d'électricité et gestion du service client

Métrique	2023 données
Ventes totales d'électricité	141,8 millions de MWh
Comptes clients	5,7 millions
Taux résidentiel moyen	0,12 $ par kWh

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: Ressources clés

Portfolio étendu des énergies renouvelables

Nextera Energy possède 26 130 MW de capacité éolienne et 5 404 MW de capacité solaire à partir de 2023. La société exploite des actifs d'énergie renouvelable dans 21 États américains.

Type d'énergie renouvelable	Capacité (MW)	Nombre d'installations
Énergie éolienne	26,130	124
Énergie solaire	5,404	42

Technologies de stockage d'énergie avancées

Nextera Energy a investi 1,2 milliard de dollars dans des projets de stockage de batteries avec 1 800 MW de capacité de stockage en 2023.

• Systèmes de stockage de batteries déployés sur plusieurs états
• Solutions de stockage d'énergie à l'échelle du réseau
• Intégration de la technologie de batterie lithium-ion

Ingénierie qualifiée et main-d'œuvre technique

Nextera Energy emploie environ 18 800 travailleurs en 2023, avec des équipes spécialisées en génie des énergies renouvelables et en opérations techniques.

Capital financier pour les infrastructures

Actifs totaux de NextEra Energy: 195,2 milliards de dollars (rapport annuel 2022) Dépenses en capital: 10,3 milliards de dollars en 2022

Métrique financière	Montant	Année
Actif total	195,2 milliards de dollars	2022
Dépenses en capital	10,3 milliards de dollars	2022

Technologies propriétaires des énergies renouvelables

Nextera Energy détient 87 brevets d'énergie renouvelable à partir de 2023, en se concentrant sur la technologie des éoliennes et l'optimisation de l'énergie solaire.

• Brevets d'efficacité des éoliennes
• Technologies d'amélioration des performances du panneau solaire
• Innovations logicielles d'intégration de grille

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: propositions de valeur

Solutions énergétiques propres et durables

Nextera Energy a généré 45,7 millions de MWh d'énergie renouvelable en 2022, avec 25,8 millions de MWh par le vent et 19,9 millions de MWh provenant de sources solaires. La société possède 22 gigawatts de vent et 4 gigawatts de capacité de génération solaire.

Type d'énergie renouvelable	Capacité de production (GW)	MWH généré en 2022
Vent	22	25,8 millions
Solaire	4	19,9 millions

Production et distribution d'électricité fiables

Nextera Energy dessert environ 5,7 millions de comptes clients en Floride via Florida Power & Compagnie légère. La société maintient un Taux de fiabilité de 99,99% pour la distribution de l'électricité.

Prix ​​compétitifs pour les énergies renouvelables

Le coût de l'énergie à l'énergie énergétique en énergie renouvelable de Nextera Energy est de 36 $ par MWh pour le vent et de 40 $ par MWh pour l'énergie solaire, ce qui est nettement inférieur aux coûts traditionnels de production de combustibles fossiles.

Réduction des émissions de carbone et impact environnemental

• Réduction des émissions de carbone de 49 millions de tonnes métriques en 2022
• Engagé dans les émissions de carbone nettes-zéro d'ici 2045
• A investi 13,5 milliards de dollars dans des infrastructures d'énergie propre en 2022

Technologies et solutions énergétiques innovantes

Nextera Energy Resources a investi 1,4 milliard de dollars dans les technologies de stockage de batteries en 2022, avec une capacité de stockage totale de 420 MW sur divers projets.

Investissement technologique	Montant investi	Capacité totale
Stockage de batterie	1,4 milliard de dollars	420 MW

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: relations avec les clients

Contrats à long terme avec des sociétés de services publics

Nextera Energy compte 13,8 millions de comptes clients à travers la Floride en 2023. La société entretient des accords d'achat d'électricité à long terme (APP) avec une durée de contrat moyenne de 15 à 20 ans.

Type de contrat	Nombre d'accords	Valeur totale du contrat
Contrats de services publics	87	12,4 milliards de dollars
PPA d'énergie renouvelable	52	7,6 milliards de dollars

Plates-formes de fiançailles clients numériques

Nextera Energy investit 145 millions de dollars par an dans les technologies d'infrastructure numérique et d'engagement client.

• Téléchargements d'applications mobiles: 2,3 millions
• Utilisateurs de gestion des comptes en ligne: 6,7 millions
• Taux de paiement des factures numériques: 78%

Services de gestion de l'énergie personnalisés

La société propose des solutions énergétiques personnalisées avec un investissement de 92 millions de dollars dans les plateformes technologiques centrées sur le client.

Catégorie de service	Nombre de clients	Revenus annuels
Solutions d'énergie de maison intelligente	425,000	67,3 millions de dollars
Gestion commerciale de l'énergie	12 500 entreprises	214,6 millions de dollars

Communication transparente sur la durabilité énergétique

L'énergie Nextera alloue 38 millions de dollars par an à la communication et aux rapports de durabilité.

• Téléchargements de rapports sur la durabilité: 95 000
• Initiatives de transparence de réduction du carbone: 14 programmes actifs
• Événements d'engagement communautaire: 76 par an

Support client et assistance technique

La société maintient une infrastructure complète de support client avec 62 millions de dollars investis dans des technologies de support.

Canal de support	Volume d'interaction annuel	Temps de réponse moyen
Support téléphonique	3,2 millions d'appels	7,5 minutes
Chat en ligne	1,6 million d'interactions	4,2 minutes
Assistance par e-mail	875 000 billets	12,3 heures

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: canaux

Ventes directes aux entreprises de services publics

Nextera Energy génère 19,1 milliards de dollars de revenus des services publics via Florida Power & Light Company (FPL) en 2022. Les canaux de vente directs comprennent:

• Ventes de services publics réglementés à 5,7 millions de comptes clients
• Contrats d'entreprise directs commerciaux et industriels
• Transactions du marché de l'électricité en gros

Canal de vente	Revenus annuels	Segment de clientèle
Ventes de services publics résidentiels	11,4 milliards de dollars	5,2 millions de ménages
Ventes de services publics commerciaux	4,7 milliards de dollars	500 000 comptes d'entreprise
Contrats d'énergie industrielle	3 milliards de dollars	Grandes clients d'entreprise

Plateformes de service client en ligne

Les canaux de fiançailles numériques incluent le portail MyFPL en ligne avec 3,2 millions d'utilisateurs enregistrés et d'application mobile avec 1,8 million d'utilisateurs mensuels actifs.

Interactions sur le marché de l'énergie

Nextera Energy Resources génère 2,3 milliards de dollars de revenus du marché des énergies renouvelables à travers:

• Transactions du marché de l'énergie éolienne
• Ventes du marché de l'énergie solaire
• Contrats du système de stockage de batteries

Équipes de développement commercial stratégiques

Nextera maintient 287 professionnels du développement commercial dans les secteurs des énergies renouvelables et des services publics, générant 21,4 milliards de dollars de revenus totaux d'entreprise en 2022.

Conférences de l'industrie et événements de réseautage

Participation annuelle à 42 conférences majeures de l'industrie énergétique avec une valeur d'engagement de réseautage estimée de 15,6 millions de dollars.

Type de conférence	Participation annuelle	Valeur de réseautage estimée
Conférences d'énergie renouvelable	18 événements	7,2 millions de dollars
Conférences de l'industrie des services publics	24 événements	8,4 millions de dollars

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: segments de clientèle

Entreprises de services publics et opérateurs de réseau

Nextera Energy dessert 5,7 millions de comptes clients en Floride via Florida Power & Light Company (FPL). Le segment de la clientèle de l'opérateur de grille représente 100% du territoire du service électrique de la Floride.

Type de client	Nombre de comptes	Couverture du marché
Grille de services publics de Floride	5,7 millions	100% du territoire de service de la Floride

Consommateurs d'énergie commerciale et industrielle

Nextera Energy Resources sert environ 15 clients commerciaux et industriels à grande échelle dans plusieurs États.

• Secteurs de fabrication à forte intensité d'énergie
• Entreprises technologiques
• Grands campus d'entreprise

Clients d'électricité résidentielle

FPL dessert 5,7 millions de comptes clients résidentiels avec 4,5 milliards de dollars de revenus d'électricité résidentiels pour 2022.

Catégorie client	Comptes totaux	Revenus annuels
Clients résidentiels	5,7 millions	4,5 milliards de dollars

Services énergétiques gouvernementaux et municipaux

Nextera Energy fournit des solutions d'énergie renouvelable à 25 gouvernements municipaux et aux services énergétiques au niveau de l'État.

Investisseurs à grande échelle d'énergie renouvelable

Nextera Energy Resources gère 28,3 gigawatts de la capacité de production d'énergie renouvelable, attirant les investisseurs institutionnels.

Segment d'énergie renouvelable	Capacité de production	Échelle d'investissement
Portefeuille d'énergie renouvelable	28.3 GW	Investissements de qualité institutionnelle

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: Structure des coûts

Dépenses en capital pour les infrastructures d'énergie renouvelable

Nextera Energy a investi 9,4 milliards de dollars dans les dépenses en capital en 2022. Infrastructures d'infrastructures d'énergie renouvelable est tombée en panne comme suit:

Catégorie d'infrastructure	Montant d'investissement
Projets d'énergie éolienne	3,6 milliards de dollars
Projets d'énergie solaire	2,8 milliards de dollars
Infrastructure de stockage de batterie	1,2 milliard de dollars

Investissements de recherche et développement

L'énergie Nextère a alloué 287 millions de dollars à la recherche et au développement en 2022, en se concentrant sur:

• Technologies d'énergie renouvelable avancée
• Modernisation de la grille
• Solutions de stockage d'énergie
• Technologies de production d'hydrogène

Entretien opérationnel des installations énergétiques

Les coûts annuels de maintenance opérationnelle pour 2022 ont totalisé 1,6 milliard de dollars, distribué à travers:

Type d'installation	Frais de maintenance
Éoliennes	672 millions de dollars
Installations solaires	456 millions de dollars
Centrales nucléaires	328 millions de dollars
Installations de gaz naturel	144 millions de dollars

Aachat de technologie et d'équipement

Nextera Energy a dépensé 1,1 milliard de dollars pour l'approvisionnement en technologie et en équipement en 2022, notamment:

• Équipement de production d'énergie renouvelable
• Technologies de gestion de la grille
• Infrastructure de cybersécurité
• Systèmes de surveillance avancés

Rémunération et formation de la main-d'œuvre

Les dépenses totales liées à la main-d'œuvre pour 2022 étaient de 1,3 milliard de dollars:

Catégorie de dépenses	Montant
Salaires de base	862 millions de dollars
Avantages	276 millions de dollars
Formation et développement	162 millions de dollars

Nextera Energy, Inc. (NEE) - Modèle d'entreprise: Strots de revenus

Ventes d'électricité aux entreprises de services publics

Nextera Energy a déclaré des revenus d'exploitation totaux de 21,3 milliards de dollars en 2022. Ventes d'électricité aux clients des services publics réglementés par le biais de Florida Power & Light Company (FPL) a généré environ 12,4 milliards de dollars de revenus.

Segment	Revenus (2022)	Pourcentage du total des revenus
Utilitaire électrique réglementé	12,4 milliards de dollars	58.2%
Ressources énergétiques	8,9 milliards de dollars	41.8%

Crédits et incitations d'énergie renouvelable

NextEra Energy a généré environ 672 millions de dollars à partir de crédits d'impôt sur les énergies renouvelables en 2022.

• Crédits d'impôt de production (PTC): 456 millions de dollars
• Crédits d'impôt d'investissement (ITC): 216 millions de dollars

Accords d'achat d'électricité

La société a 55,4 GW de projets d'énergie renouvelable sous contrat avec divers accords d'achat d'électricité dans plusieurs États.

Type d'accord	Capacité contractée	Revenus annuels estimés
PPA de puissance éolienne	32.6 GW	3,2 milliards de dollars
PPA d'énergie solaire	22,8 GW	2,8 milliards de dollars

Contrats de solution de stockage d'énergie

L'énergie Nextère a 2,5 GW de projets de stockage d'énergie avec un chiffre d'affaires annuel prévu de 380 millions de dollars.

Services de licence de conseil et de technologie

Les services de licence et de conseil technologiques ont généré environ 124 millions de dollars de revenus supplémentaires pour 2022.

• Licence de technologie des énergies renouvelables: 78 millions de dollars
• Conseil de gestion de l'énergie: 46 millions de dollars

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.