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v3.23.2

Commitments and Contingencies (Tables) | 6 Months Ended
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Jun. 30, 2023
Commitments and Contingencies [Abstract] |
Schedule of Planned Capital Expenditures | At June 30, 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) | $ | 2,160 |  |  | $ | 2,390 |  |  | $ | 2,750 |  |  | $ | 3,665 |  |  | $ | 3,195 |  |  | $ | 14,160 |
Existing | 630 |  | 1,350 |  | 1,025 |  | 1,330 |  | 1,465 |  | 5,800 |
Transmission and distribution(c) | 1,150 |  | 3,410 |  | 3,415 |  | 3,160 |  | 3,415 |  | 14,550 |
Nuclear fuel | 120 |  | 145 |  | 200 |  | 295 |  | 300 |  | 1,060 |
General and other | 370 |  | 570 |  | 640 |  | 520 |  | 640 |  | 2,740 |
Total | $ | 4,430 |  |  | $ | 7,865 |  |  | $ | 8,030 |  |  | $ | 8,970 |  |  | $ | 9,015 |  |  | $ | 38,310 |
NEER:(d) |  |  |  |  |  |  |  |  |  |  |
Wind(e) | $ | 1,895 |  |  | $ | 1,830 |  |  | $ | 420 |  |  | $ | 50 |  |  | $ | 40 |  |  | $ | 4,235 |
Solar(f) | 2,320 |  |  | 1,735 |  |  | 540 |  |  | 15 |  |  | 5 |  |  | 4,615 |
Other clean energy(g) | 825 |  |  | 660 |  |  | 60 |  |  | 80 |  |  | 80 |  |  | 1,705 |
Nuclear, including nuclear fuel | 115 |  |  | 260 |  |  | 230 |  |  | 225 |  |  | 290 |  |  | 1,120 |
Rate-regulated transmission | 245 |  |  | 510 |  |  | 385 |  |  | 230 |  |  | 20 |  |  | 1,390 |
Other(h) | 580 |  |  | 260 |  |  | 150 |  |  | 150 |  |  | 175 |  |  | 1,315 |
Total | $ | 5,980 |  |  | $ | 5,255 |  |  | $ | 1,785 |  |  | $ | 750 |  |  | $ | 610 |  |  | $ | 14,380 |
——————————————— (a)Includes AFUDC of approximately $70 million, $110 million, $75 million, $120 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 $35 million, $50 million, $50 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 3,334 MW, and related transmission. (f)Includes capital expenditures for new solar projects (including solar plus battery storage projects) totaling approximately 6,845 MW and related transmission. (g)Includes capital expenditures primarily for battery storage projects and renewable fuels projects. (h)Includes equity contributions in 2023 for the construction of Mountain Valley Pipeline, the timing of which is uncertain.
Required capacity and/or minimum payments under contracts | The required capacity and/or minimum payments under contracts, including those discussed above, at June 30, 2023 were estimated as follows:
| Remainder of 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter
| (millions)
FPL(a) | $ | 560 |  |  | $ | 1,045 |  |  | $ | 1,045 |  |  | $ | 1,045 |  |  | $ | 955 |  |  | $ | 8,575 |
NEER(b)(c)(d) | $ | 3,445 |  |  | $ | 2,565 |  |  | $ | 250 |  |  | $ | 175 |  |  | $ | 165 |  |  | $ | 1,785 |
——————————————— (a)Includes approximately $205 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. For the three and six months ended June 30, 2023, the charges associated with these agreements totaled approximately $108 million and $210 million, respectively, of which $25 million and $49 million, respectively, were eliminated in consolidation at NEE. For the three and six months ended June 30, 2022, the charges associated with these agreements totaled approximately $107 million and $209 million, respectively, of which $26 million and $51 million, respectively, were eliminated in consolidation at NEE. (b)Includes equity contributions in 2023 and a 20-year natural gas transportation agreement (approximately $70 million per year) with Mountain Valley Pipeline, a joint venture, in which NEER has a 32.2% equity investment, that is constructing a natural gas pipeline. The transportation agreement commitments are subject to the completion of construction. The timing of construction and the related equity contributions is uncertain. (c)Includes approximately $240 million of commitments to invest in technology and other investments through 2031. See Note 7 – Other. (d)Includes approximately $140 million, $1,035 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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- Definition Tabular disclosure of key provisions of an arrangement under which the entity has agreed to purchase goods or services over a period of time greater than one year or the normal operating cycle, if longer, including the item for which expenditures will be made, minimum quantities, milestones, time period and committed amount. + References No definition available. + Details
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