“FPL's reported ROE for regulatory purposes is expected to be approximately 11.6% for the 12 months ended June 2022.”

In context

“ss we have made at NextEra Energy so far in 2022 and heading into the second half of the year, we are well positioned to achieve the full year financial expectations that we have previously discussed, subject to our usual caveats. Now let's look at the detailed results beginning with FPL. For the second quarter of 2022, FPL reported net income of $989 million or $0.50 per share, which is an increase of $107 million and $0.05 per share, respectively, year-over-year. Regulatory capital employed increased by approximately 11.4% over the same quarter last year and was a principal driver of FPL's net income growth of approximately 12%. FPL's capital expenditures were approximately $1.9 billion in the second quarter, and we expect our full year capital investments to total roughly $8.5 billion. FPL's reported ROE for regulatory purposes is expected to be approximately 11.6% for the 12 months ended June 2022. Largely as a result of warm weather during the second quarter, we reversed roughly $44 million of reserve amortization recorded earlier in the year, leaving FPL with a balance of approximately $1.37 billion to use over the term of the current settlement agreement. During the quarter, FPL successfully commissioned the highly efficient, roughly 1,200 megawatt Dania Beach Clean Energy Center. The approximately $900 million project, which was completed on time and on budget, is expected to generate nearly $350 million in net cost savings for FPL customers, while reducing carbon emissions by roughly 70% compared to the previous Lauderdale plant. Longer term, we expect to convert approximately 16 gigawatts of our highly efficient gas fleet to run on green hydrogen, which will play an important”