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Commitments and Contingencies (Tables) | 3 Months Ended
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Mar. 31, 2023
Commitments and Contingencies [Abstract] |
Schedule of Planned Capital Expenditures | At March 31, 2023, estimated capital expenditures, on an accrual basis, for the remainder of 2023 through 2027 were as follows:
| Remainder of 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Total
| (millions)
FPL: |  |  |  |  |  |  |  |  |  |  |
Generation:(a) |  |  |  |  |  |  |  |  |  |  |
New(b) | $ | 2,810 |  |  | $ | 2,315 |  |  | $ | 2,820 |  |  | $ | 3,670 |  |  | $ | 3,150 |  |  | $ | 14,765 |
Existing | 1,110 |  | 1,175 |  | 1,045 |  | 1,280 |  | 1,465 |  | 6,075 |
Transmission and distribution(c) | 1,945 |  | 3,975 |  | 3,645 |  | 3,340 |  | 3,575 |  | 16,480 |
Nuclear fuel | 90 |  | 160 |  | 200 |  | 200 |  | 225 |  | 875 |
General and other | 510 |  | 455 |  | 515 |  | 385 |  | 525 |  | 2,390 |
Total | $ | 6,465 |  |  | $ | 8,080 |  |  | $ | 8,225 |  |  | $ | 8,875 |  |  | $ | 8,940 |  |  | $ | 40,585 |
NEER:(d) |  |  |  |  |  |  |  |  |  |  |
Wind(e) | $ | 2,750 |  |  | $ | 1,320 |  |  | $ | 625 |  |  | $ | 50 |  |  | $ | 40 |  |  | $ | 4,785 |
Solar(f) | 3,365 |  |  | 1,320 |  |  | 240 |  |  | 5 |  |  | 5 |  |  | 4,935 |
Other clean energy(g) | 705 |  |  | 300 |  |  | 80 |  |  | 90 |  |  | 15 |  |  | 1,190 |
Nuclear, including nuclear fuel | 140 |  |  | 230 |  |  | 220 |  |  | 225 |  |  | 295 |  |  | 1,110 |
Rate-regulated transmission | 185 |  |  | 105 |  |  | 95 |  |  | 70 |  |  | 20 |  |  | 475 |
Other | 580 |  |  | 275 |  |  | 175 |  |  | 160 |  |  | 130 |  |  | 1,320 |
Total | $ | 7,725 |  |  | $ | 3,550 |  |  | $ | 1,435 |  |  | $ | 600 |  |  | $ | 505 |  |  | $ | 13,815 |
——————————————— (a)Includes AFUDC of approximately $100 million, $105 million, $90 million, $125 million and $115 million for the remainder of 2023 through 2027, respectively. (b)Includes land, generation structures, transmission interconnection and integration and licensing. (c)Includes AFUDC of approximately $40 million, $50 million, $55 million, $30 million and $30 million for the remainder of 2023 through 2027, respectively. (d)Represents capital expenditures for which applicable internal approvals and also, if required, regulatory approvals have been received. (e)Consists of capital expenditures for new wind projects and repowering of existing wind projects totaling approximately 3,081 MW, and related transmission. (f)Includes capital expenditures for new solar projects (including solar plus battery storage projects) totaling approximately 6,890 MW and related transmission. (g)Includes capital expenditures primarily for battery storage projects and renewable fuels projects.
Required capacity and/or minimum payments under contracts | The required capacity and/or minimum payments under contracts, including those discussed above, at March 31, 2023 were estimated as follows:
| Remainder of 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter
| (millions)
FPL(a) | $ | 835 |  |  | $ | 1,065 |  |  | $ | 1,065 |  |  | $ | 1,065 |  |  | $ | 985 |  |  | $ | 8,545 |
NEER(b)(c)(d) | $ | 3,230 |  |  | $ | 1,800 |  |  | $ | 145 |  |  | $ | 100 |  |  | $ | 95 |  |  | $ | 670 |
——————————————— (a)Includes approximately $310 million, $410 million, $405 million, $400 million, $400 million and $5,560 million for the remainder of 2023 through 2027 and thereafter, respectively, of firm commitments related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection. The charges associated with these agreements are recoverable through the fuel clause and totaled approximately $102 million and $102 million for the three months ended March 31, 2023 and 2022, respectively, of which $25 million and $26 million, respectively, were eliminated in consolidation at NEE. (b)Excludes commitments related to equity contributions and a 20-year natural gas transportation agreement (approximately $70 million per year) with a joint venture, in which NEER has a 32.2% equity investment, that is constructing a natural gas pipeline. These commitments are subject to the completion of construction of the pipeline which has a very low probability of completion. See Note 3 – Nonrecurring Fair Value Measurements. (c)Includes approximately $260 million of commitments to invest in technology and other investments through 2031. See Note 7 – Other. (d)Includes approximately $365 million, $1,285 million, $5 million, $5 million, $0 million and $0 million for the remainder of 2023 through 2027 and thereafter, respectively, of joint obligations of NEECH and NEER.

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