“As we previously discussed, FPL historically uses more reserve amortization in the first half of the year. We expect this trend to continue this year.”

In context

“of 2025, FPL's earnings per share increased $0.07 year-over-year. The principal driver of this performance was FPL's regulatory capital employed growth of approximately 8.1% year-over-year. We continue to expect FPL to realize more than 10% average annual growth in regulatory capital employed over our current rate agreement's 4-year term, which runs through 2025. FPL's capital expenditures were approximately $2.4 billion for the quarter, and we expect FPL's full year capital investments to be between $8 billion and $8.8 billion. For the 12 months ending March 2025, FPL's reported return on equity for regulatory purposes will be approximately 11.6%. During the first quarter, we utilized approximately $622 million of reserve amortization, leaving FPL with a balance of roughly $274 million. As we previously discussed, FPL historically uses more reserve amortization in the first half of the year. We expect this trend to continue this year. This quarter, FPL placed into service 894 megawatts of new cost-effective solar, putting FPL's owned and operated solar portfolio at over 7.9 gigawatts, which is the largest utility-owned solar portfolio in the country. In April, FPL filed its annual 10-year site plan, which continues to indicate that solar and storage are the most cost-effective options for customers to add reliable grid energy and capacity over the next decade. The 2025 plan projects the need for over 17 gigawatts of cost-effective solar generation across our service territory over the next 10 years. And as a complement to FPL's planned solar additions, FPL is planning to deploy over 7.6 gigawatts of battery storage, which provides cost-effective capacity. With this plan, we expect to increase FPL's solar mix from appro”