Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies [Abstract]

Schedule of Planned Capital Expenditures

At March 31, 2018, estimated capital expenditures for the remainder of 2018 through 2022 for which applicable internal approvals (and also, if required, regulatory approvals such as FPSC approvals for FPL) have been received were as follows:



	Remainder of 2018		2019		2020		2021		2022		Total
	(millions)
FPL:
Generation:^(a)
New^(b)(c)	$	430	$	465	$	1,245	$	1,100	$	1,105	$	4,345
Existing	980		855		460		550		490		3,335
Transmission and distribution	1,870		2,135		2,280		2,545		2,570		11,400
Nuclear fuel	130		150		135		145		165		725
General and other	385		320		290		300		280		1,575
Total	$	3,795	$	3,925	$	4,410	$	4,640	$	4,610	$	21,380
NEER:
Wind^(d)	$	1,550	$	1,750	$	40	$	30	$	25	$	3,395
Solar^(e)	90		—		—		—		—		90
Nuclear, including nuclear fuel	200		225		205		195		240		1,065
Natural gas pipelines^(f)	850		50		25		15		25		965
Other	450		50		50		40		45		635
Total	$	3,140	$	2,075	$	320	$	280	$	335	$	6,150
Corporate and Other	$	40	$	20	$	30	$	15	$	—	$	105

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(a)	Includes AFUDC of approximately $74 million, $46 million, $47 million, $31 million and $14 million for the remainder of 2018 through 2022, respectively.


(b)	Includes land, generation structures, transmission interconnection and integration and licensing.


(c)	Excludes capital expenditures of approximately $800 million for the modernization of two generating units at FPL's Lauderdale facility to a high-efficiency natural gas-fired unit (Dania Beach Clean Energy Center), which is pending approval by the Florida Power Plant Siting Board, comprised of the Florida governor and cabinet.


(d)	Consists of capital expenditures for new wind projects, repowering of existing wind projects and related transmission totaling approximately 4,050 MW.


(e)	Includes capital expenditures for new solar projects and related transmission totaling approximately 100 MW.


(f)	Includes equity contributions associated with joint venture equity investments for the construction of natural gas pipelines.

Required capacity and/or minimum payments under contracts

The required capacity and/or minimum payments under contracts, including those discussed above, at March 31, 2018 were estimated as follows:



	Remainder of 2018		2019		2020		2021		2022		Thereafter
	(millions)
FPL:
Capacity charges^(a)	$	15	$	20	$	20	$	20	$	20	$	225
Minimum charges, at projected prices:^(b)
Natural gas, including transportation and storage^(c)	$	1,485	$	980	$	940	$	905	$	895	$	11,240
Coal, including transportation	$	30	$	5	$	—	$	—	$	—	$	—
NEER^(d)	$	2,145	$	540	$	175	$	145	$	170	$	1,330
Corporate and Other^(e)(f)	$	205	$	15	$	15	$	10	$	—	$	—

———————————————


(a)	Capacity charges, substantially all of which are recoverable through the capacity clause, totaled approximately $5 million and $20 million for the three months ended March 31, 2018 and 2017, respectively. Energy charges, which are recoverable through the fuel clause, totaled approximately $7 million and $16 million for the three months ended March 31, 2018 and 2017, respectively.


(b)	Recoverable through the fuel clause.


(c)	Includes approximately $220 million, $290 million, $360 million, $390 million, $390 million and $7,175 million for the remainder of 2018 through 2022 and thereafter, respectively, of firm commitments related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection.

(d)

Includes approximately $65 million, $65 million, $65 million, $65 million and $1,035 million in 2019 through 2022 and thereafter, respectively, of firm commitments related to a natural gas transportation agreement with a joint venture, in which NEER has a 31% equity investment, that is constructing a natural gas pipeline. These firm commitments are subject to the completion of construction of the pipeline which is expected at the end of 2018.


(e)	Includes an approximately $70 million commitment to invest in clean power and technology businesses through 2021.


(f)	Excludes approximately $170 million for the remainder of 2018 of joint obligations of NEECH and NEER which are included in the NEER amounts above.