“We continue to expect FPL to realize roughly 9% average annual growth in regulatory capital employed over our current rate agreement's four-year term, which runs through 2025.”

In context

“e energy during the third quarter with strong adjusted earnings growth and its best renewables and storage origination quarter in its history. NextEra Energy has clear growth visibility through FPL's capital plan and Energy Resources' over 21 gigawatt renewables and storage backlog. With the strongest balance sheets in the sector and worldwide banking relationships, we believe NextEra Energy has both significant access to capital and cost-of-capital advantages and is well positioned to continue to deliver long-term value for shareholders. Now let's turn to FPL's detailed results. For the third quarter of 2023, FPL's earnings per share increased $0.04 year-over-year. The principal driver of this performance was FPL's regulatory capital employed growth of approximately 13.6% year-over-year. We continue to expect FPL to realize roughly 9% average annual growth in regulatory capital employed over our current rate agreement's four-year term, which runs through 2025. FPL's capital expenditures were approximately $2.6 billion for the quarter, and we expect FPL's full-year 2023 capital investments to be between $9 billion and $9.5 billion. For the 12 months ending September 2023, FPL's reported ROE for regulatory purposes will be approximately 11.8%. During the third quarter, we reversed roughly $245 million of reserve amortization, leaving FPL with a balance of over $1.2 billion. Over the current four-year settlement agreement, we continue to expect FPL to make capital investments of between $32 billion to $34 billion. Our capital investment plan is well-established and focused on enhancing what we believe is one of the best customer value propositions in the industry. Key indicators show that the Florida economy remains healthy and Florida continues t”