November 21, 2011
FPL files for 2012 rate reduction due to lower natural gas cost projection

FPL’s typical customer bill expected to remain significantly lower than the national average and the lowest of Florida’s 55 electric utilities

JUNO BEACH, Fla. – In a filing with the Florida Public Service Commission (PSC) today, Florida Power & Light Company revised its anticipated 2012 fuel costs downward by approximately $460 million.

If the lower rate is approved by the PSC, the amount that a 1,000-kWh FPL residential customer will pay monthly for fuel in 2012 will drop by $4.53 compared to the company’s previous projection. This reduction in the fuel charge, in combination with adjustments to other components of the bill, will produce a net decrease on a typical FPL customer’s monthly bill of about $2.00, from $96.54 in December 2011 to $94.62 beginning in January 2012.

“The prices of fossil fuels on the world markets can be volatile, and fluctuations can make a significant impact on our customers’ bills. For 2012, oil prices are still high, but our investments in recent years to modernize our power plant fleet – phasing out older, oil-fired units with cleaner, more efficient natural gas-fired generating capacity – are helping protect our customers from higher fuel charges. At the same time, market prices of natural gas for 2012 are trending even lower than previously expected, and this is driving a significant reduction in our projected fuel costs for the coming year,” said FPL President and CEO Armando J. Olivera. “The lowest bill in the state is getting even lower, and that’s good news for our customers.”

FPL’s 1,000-kWh residential monthly bill is more than 20 percent lower than the national average and the lowest of Florida’s 55 electric utilities.

Florida Power & Light Company
Florida Power & Light Company is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves 4.5 million customer accounts in Florida and is a leading employer in the state with approximately 10,000 employees. The company consistently outperforms national averages for service reliability while its typical customer bills are more than 20 percent below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.