In 2023, NEER added approximately 1,651 MW of new wind generating capacity and 2,073 MW of solar generating capacity, demonstrating a continued focus on renewable energy expansion.

FPL plans to add new solar generation with cost recovery through base rates, either through a Solar Base Rate Adjustment (SOBRA) or SolarTogether®, with 894 MW of solar generating capacity in service in January 2024 and additional capacity expected in 2024 and 2025.

In 2023, NEE divested a portfolio of natural gas pipelines in south Texas, and FPL sold its ownership interest in the FCG business, indicating a strategic focus on core operations.

FPL's regulatory ROE for 2023 and 2022 was approximately 11.80% and 11.74%, respectively, indicating effective management in achieving targeted returns.

NEE and its subsidiaries continue to develop and implement enterprise-wide initiatives focused on improving productivity, process effectiveness and quality.

FPL relies upon a mix of fuel sources for its generation facilities, the ability of some of its generation facilities to operate on both natural gas and low sulfur diesel, and on purchased power to maintain the flexibility to achieve a more economical fuel mix.

The operations of NEE and FPL are subject to complex and comprehensive federal, state and other regulation, and any inability or failure to adequately address the effects of regulation could have a material adverse effect on their business.

Severe weather and natural disasters can be destructive and cause power outages, personal injury and property damage, reduce revenue, affect the availability of fuel and water, and require NEE and FPL to incur additional costs.

NEE's and FPL's generation, transmission, storage and distribution facilities, information technology systems and other infrastructure facilities and systems could be direct targets of, or otherwise be materially adversely affected by, such activities.

FPL seeks to maintain attractive rates for its customers and competes on the basis of price, high reliability, outstanding customer service and clean energy.

NEER primarily competes on the basis of price, but believes the green attributes of NEER's generation assets, its track record of completing projects on schedule, its creditworthiness and its ability to offer and manage reliable customized risk solutions to wholesale customers are competitive advantages.

FPL faces competition from other suppliers of electrical energy to wholesale and industrial customers and from alternative energy sources, as well as self-generation by residential, commercial and industrial customers.

FPL seeks to maintain attractive rates for its customers by maintaining a low-cost position, including the implementation of ideas generated from cost savings initiatives.

FPL and NEER share a common platform with the objective of lowering costs, creating efficiencies and encouraging innovative ideas for their businesses.

Cost recovery clauses are designed to permit full recovery of certain costs and provide a return on certain assets allowed to be recovered through these clauses.

NEE is a leader in the renewable energy industry and a world leader in battery storage, indicating a commitment to innovation and technology.

FPL develops and constructs battery storage projects, which when combined with its solar projects, serve to enhance its ability to meet customer needs for a nearly firm generation source.

In 2023, FPL placed a hydrogen facility in service that blends green hydrogen with natural gas at an existing natural gas generation facility, demonstrating a commitment to exploring new technologies.

NEE's primary capital requirements are for expanding and enhancing FPL's electric system and generation facilities and for funding NEER's investments in independent power and other projects.

FPL's strategic focus is centered on investing in generation, transmission and distribution facilities to deliver on its value proposition.

NEE and FPL rely on access to capital and credit markets as significant sources of liquidity for capital requirements, refinancing activities and other requirements that are not satisfied by operating cash flows.

NEE and its subsidiaries are subject to environmental laws and regulations for the siting, construction and ongoing operations of their facilities.

FPL expects to seek recovery through the environmental clause for compliance costs associated with any new environmental laws and regulations.

NEE and its subsidiaries are subject to extensive federal, state and local environmental statutes, rules and regulations relating to air quality, water quality and usage, waste management, wildlife protection and historical resources.

Electricity markets in the U.S. and Canada are regional and diverse in character, and competition in these markets is shaped and constrained by regulation.

NEE operates in all RTO and ISO jurisdictions, indicating a broad exposure to various market conditions and regulatory environments.

FPL's operations are subject to regulation by a number of federal, state and other organizations, including the FPSC, FERC, NERC, NRC and EPA.