“FPL fully expects to seek recovery of these increased expenditures in its rate case filing next year.”

In context

“,000 people moving to Florida every day. And it's not just the residential sector. We're seeing the commercial and industrial sector growing too. As a result of this accelerated growth, FPL's regulatory capital employed has grown at a 12% compound annual growth rate since the beginning of 2022 compared against an estimated 9% comp in annual growth rate that was originally anticipated for the four year settlement period. We have shouldered this additional growth through our reserve amortization mechanism, which enables FPL to absorb the cost for these capital investments without increasing customer bills in the interim. While these efforts have helped us to meet customer growth and deliver for our Florida customers, our reserve amortization mechanism has been utilized faster than expected. FPL fully expects to seek recovery of these increased expenditures in its rate case filing next year. FPL ended the second quarter with a remaining reserve amortization balance of $586 million which is expected to be sufficient to support FPL's capital investment plan and its ability to earn an 11.4% regulatory ROE this year and next. An 11.4% percent regulatory ROE is expected to have a $0.06 EPS impact in each of 2024 and 2025, which has already been taken into account in our financial expectations, and we will be disappointed if we are unable to deliver financial results at or near the top of our adjusted earnings per share expectation ranges each year through 2027 at NextEra Energy. We expect to continue to demonstrate the benefits and protections that the reserve amortization mechanism provides customers when we file our rate case next year. Our vision is for FPL to be the best utili”