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Commitments and Contingencies (Tables) | 3 Months Ended
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Mar. 31, 2024
Commitments and Contingencies [Abstract] |
Schedule of Planned Capital Expenditures | At March 31, 2024, estimated capital expenditures, on an accrual basis, for the remainder of 2024 through 2028 were as follows:
| Remainder of 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Total
| (millions)
FPL: |  |  |  |  |  |  |  |  |  |  |
Generation:(a) |  |  |  |  |  |  |  |  |  |  |
New(b) | $ | 1,590 |  |  | $ | 3,180 |  |  | $ | 4,190 |  |  | $ | 3,760 |  |  | $ | 3,305 |  |  | $ | 16,025 |
Existing | 595 |  | 730 |  | 855 |  | 1,220 |  | 1,400 |  | 4,800 |
Transmission and distribution(c) | 2,610 |  | 2,735 |  | 2,845 |  | 3,910 |  | 4,210 |  | 16,310 |
Nuclear fuel | 115 |  | 205 |  | 300 |  | 305 |  | 390 |  | 1,315 |
General and other | 495 |  | 695 |  | 810 |  | 615 |  | 540 |  | 3,155 |
Total | $ | 5,405 |  |  | $ | 7,545 |  |  | $ | 9,000 |  |  | $ | 9,810 |  |  | $ | 9,845 |  |  | $ | 41,605 |
NEER:(d) |  |  |  |  |  |  |  |  |  |  |
Wind(e) | $ | 1,925 |  |  | $ | 925 |  |  | $ | 380 |  |  | $ | 65 |  |  | $ | 55 |  |  | $ | 3,350 |
Solar(f) | 2,800 |  |  | 2,480 |  |  | 950 |  |  | 840 |  |  | — |  |  | 7,070 |
Other clean energy(g) | 1,295 |  |  | 1,080 |  |  | 210 |  |  | 150 |  |  | 60 |  |  | 2,795 |
Nuclear, including nuclear fuel | 245 |  |  | 360 |  |  | 270 |  |  | 430 |  |  | 315 |  |  | 1,620 |
Rate-regulated transmission(h) | 595 |  |  | 1,295 |  |  | 820 |  |  | 615 |  |  | 325 |  |  | 3,650 |
Other | 625 |  |  | 415 |  |  | 285 |  |  | 240 |  |  | 200 |  |  | 1,765 |
Total | $ | 7,485 |  |  | $ | 6,555 |  |  | $ | 2,915 |  |  | $ | 2,340 |  |  | $ | 955 |  |  | $ | 20,250 |
——————————————— (a)Includes AFUDC of approximately $95 million, $120 million, $180 million, $175 million and $165 million for the remainder of 2024 through 2028, respectively. (b)Includes land, generation structures, transmission interconnection and integration and licensing. (c)Includes AFUDC of approximately $70 million, $90 million, $100 million, $90 million and $65 million for the remainder of 2024 through 2028, 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 2,589 MW, and related transmission. (f)Includes capital expenditures for new solar projects (including solar plus battery storage projects) totaling approximately 8,017 MW and related transmission. (g)Includes capital expenditures primarily for battery storage projects and renewable fuels projects. (h)Includes AFUDC of approximately $15 million, $45 million, $105 million and $60 million for the remainder of 2024 through 2027, respectively.
Required capacity and/or minimum payments under contracts | The required capacity and/or minimum payments under contracts, including those discussed above, at March 31, 2024 were estimated as follows:
| Remainder of 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter
| (millions)
FPL(a) | $ | 840 |  |  | $ | 1,110 |  |  | $ | 1,110 |  |  | $ | 1,005 |  |  | $ | 955 |  |  | $ | 7,880 |
NEER(b)(c)(d) | $ | 4,220 |  |  | $ | 1,685 |  |  | $ | 260 |  |  | $ | 245 |  |  | $ | 115 |  |  | $ | 1,970 |
——————————————— (a)Includes approximately $305 million, $405 million, $400 million, $400 million, $400 million and $5,160 million for the remainder of 2024 through 2028 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, 2024 and 2023, respectively, of which $24 million and $25 million, respectively, were eliminated in consolidation at NEE. (b)Includes a 20-year natural gas transportation agreement (approximately $70 million per year) with Mountain Valley Pipeline, a joint venture in which NEER has a 32.8% equity investment, that is constructing a natural gas pipeline. The transportation agreement commitments are subject to the completion of construction which is expected in mid-2024. (c)Includes approximately $220 million of commitments to invest in technology and other investments through 2031. See Note 7 – Other. (d)Includes approximately $490 million, $370 million and $190 million for the remainder of 2024 through 2026, 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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