Dive Brief:
- NextEra Energy had a Q4 2014 net income of $884 million, or $2.00 per share, more than twice Q4 2013’s $327 million, or $0.75 per share. Q4 2014 revenue was $4.66 billion, a 28% increase over the Q3 2013 revenue of $3.63 billion.
- Total 2014 revenue was $15.1 billion, with a net income of $2.5 billion, or $5.60 per share, up 6% from 2013’s $14.3 billion revenue on net income of $1.9 billion, or $4.47 per share.
- In 2014, NextEra Energy began acquisition of Hawaiian Electric Industries, the Aloha state’s dominant electricity supplier, for $4.3 billion. It owns Florida Power & Light (FPL), one of the Sunshine state’s dominant electricity suppliers, and Next Era Energy Resources, a major supplier of electricity to unregulated power markets. NextEra also won approval from the Florida Public Service Commission to partner in natural gas exploration and production in Oklahoma’s Woodford Shale.
Dive Insight:
"We had one of our best years ever in originating new investment opportunities and continue to build what we believe is the largest and best pipeline of new contracted renewables projects in North America," said NextEra Energy Chairman and CEO Jim Robo. "We also made good progress in moving forward with the development of the Sabal Trail and Florida Southeast Connection pipelines, which will bring diversity of gas supply to our FPL customers and increase overall system reliability.”
FPL reported 2014 net income of $1.52 billion, or $3.45 per share, up 13% from 2013’s $1.35 billion net income, or $3.16 per share. It added 68,000 more customers in Q4 2014 than in Q4 2013.
NextEra Energy Resources' 2014 net income was $985 million, or $2.24 per share, up 77% from 2013’s $556 million, or $1.30 per share. It added 1,364 MW of wind and 265 MW of solar.
