Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Planned Capital Expenditures

At December 31, 2024, estimated capital expenditures, on an accrual basis, for 2025 through 2029 were as follows:


	2025		2026		2027		2028		2029		Total
	(millions)
FPL:
Generation:(a)
New(b)	$	2,185	$	3,925	$	3,385	$	3,385	$	3,510	$	16,390
Existing	945		1,160		1,325		1,275		1,275		5,980
Transmission and distribution(c)	4,310		4,255		4,080		4,325		4,710		21,680
Nuclear fuel	205		300		305		395		375		1,580
General and other	780		880		810		790		715		3,975
Total	$	8,425	$	10,520	$	9,905	$	10,170	$	10,585	$	49,605
NEER:(d)
Wind(e)	$	1,380	$	1,525	$	85	$	55	$	—	$	3,045
Solar(f)	4,865		3,350		1,360		105		45		9,725
Other clean energy(g)	2,810		1,070		1,325		270		—		5,475
Nuclear, including nuclear fuel	425		360		385		340		385		1,895

Rate-regulated transmission(h)	1,130		930		460		480		545		3,545
Other	435		250		225		220		220		1,350
Total	$	11,045	$	7,485	$	3,840	$	1,470	$	1,195	$	25,035

______________________

(a)Includes AFUDC of approximately $115 million, $170 million, $180 million, $175 million and $160 million for 2025 through 2029, respectively.

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

(c)Includes AFUDC of approximately $80 million, $80 million, $75 million, $110 million and $140 million for 2025 through 2029, 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 2,228 MW, and related transmission.

(f)Includes capital expenditures for new solar projects (including solar plus battery storage projects) totaling approximately 8,205 MW and related transmission.

(g)Includes capital expenditures primarily for battery storage projects totaling approximately 4,265 MW and related transmission, as well as natural gas pipelines and renewable fuels projects.

(h)Includes AFUDC of approximately $10 million, $10 million, $20 million, $10 million and $10 million for 2025 through 2029, respectively

Required Capacity and/or Minimum Payments

The required capacity and/or minimum payments under contracts, including those discussed above at December 31, 2024, were estimated as follows:


	2025		2026		2027		2028		2029		Thereafter
	(millions)
FPL(a)	$	1,155	$	1,145	$	1,115	$	1,080	$	1,050	$	7,165
NEER(b)(c)	$	3,945	$	815	$	250	$	120	$	70	$	370

_______________________

(a)Includes approximately $405 million, $400 million, $400 million, $400 million, $395 million and $4,765 million in 2025 through 2029 and thereafter, respectively, of firm commitments related to natural gas transportation agreements with affiliates. The charges associated with these agreements are recoverable through the fuel clause and totaled approximately $409 million, $417 million and $418 million for the years ended December 31, 2024, 2023 and 2022, respectively, of which $73 million, $99 million and $102 million, respectively, were eliminated in consolidation at NEE.

(b)Includes approximately $175 million of commitments to invest in technology and other investments through 2031. See Note 9 – Other.

(c)Includes approximately $870 million and $40 million for 2025 and 2026, respectively, of joint obligations of NEECH and NEER.