Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies [Abstract]

Schedule of Planned Capital Expenditures

At September 30, 2025, estimated capital expenditures, on an accrual basis, for the remainder of 2025 through 2029 were as follows:


	Remainder of 2025		2026		2027		2028		2029		Total
	(millions)
FPL:
Generation:(a)
New(b)	$	490	$	3,390	$	3,385	$	3,385	$	3,510	$	14,160
Existing	325		1,160		1,325		1,275		1,275		5,360
Transmission and distribution(c)	1,080		4,255		4,080		4,325		4,710		18,450
Nuclear fuel	130		300		305		395		375		1,505
General and other	290		880		810		790		715		3,485
Total	$	2,315	$	9,985	$	9,905	$	10,170	$	10,585	$	42,960
NEER:(d)
Wind(e)	$	675	$	2,370	$	1,005	$	185	$	185	$	4,420
Solar(f)	2,545		7,305		3,170		1,475		10		14,505
Other clean energy(g)	645		2,960		1,790		295		15		5,705
Nuclear, including nuclear fuel	150		375		425		430		445		1,825

Rate-regulated transmission	290		855		705		605		730		3,185
Other	195		475		380		335		280		1,665
Total	$	4,500	$	14,340	$	7,475	$	3,325	$	1,665	$	31,305

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(a)Includes AFUDC of approximately $45 million, $170 million, $180 million, $175 million and $160 million for the remainder of 2025 through 2029, respectively.

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

(c)Includes AFUDC of approximately $5 million, $80 million, $75 million, $110 million and $140 million for the remainder of 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 2,683 MW, and related transmission.

(f)Includes capital expenditures for new solar projects (including solar plus battery storage projects) totaling approximately 12,497 MW and related transmission.

(g)Includes capital expenditures primarily for battery storage projects totaling approximately 4,280 MW and related transmission, as well as 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 September 30, 2025 were estimated as follows:


	Remainder of 2025		2026		2027		2028		2029		Thereafter
	(millions)
FPL(a)	$	290	$	1,175	$	1,145	$	1,110	$	1,095	$	7,315

NEER(b)(c)	$	2,780	$	5,160	$	1,010	$	310	$	140	$	475

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(a)Includes approximately $100 million, $400 million, $400 million, $400 million, $395 million and $4,765 million for the remainder of 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. For the three and nine months ended September 30, 2025, the charges associated with these agreements totaled approximately $104 million and $308 million, respectively. For the three and nine months ended September 30, 2024, the charges associated with these agreements totaled approximately $103 million and $306 million, respectively, of which $24 million and $72 million, respectively, were eliminated in consolidation at NEE.

(b)Includes approximately $155 million of commitments to invest in technology and other investments through 2032. See Note 6 – Other.

(c)Includes approximately $460 million, $725 million and $5 million for the remainder of 2025, 2026 and 2028, respectively, of joint obligations of NEECH and NEER.