NextEra Energy, Inc. (NEE) is a Fortune 200 energy company with about 45,900 megawatts of generating capacity, revenues of over $17 billion, and about 14,000 employees throughout the United States and Canada. Its subsidiaries include Florida Power & Light (FPL), NextEra Energy Resources (NEER), NextEra Energy Partners (NEP), and NextEra Energy Services. FPL, the largest of the subsidiaries, delivers rate-regulated electricity to approximately 5 million customer accounts, or an estimated 10 million people, across nearly half of Florida and is the third largest electric utility company in the United States. NEER, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. In addition to wind and solar, NextEra Energy Resources owns and operates generating plants powered by natural gas, nuclear energy, and oil.
In 2018, NextEra Energy was listed by Fortune Magazine as the most admired company among electric and gas utilities, which marked the 11th time in 12 years that NextEra Energy was given the title.
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Mergers and acquisitions
On December 4, 2014, NextEra Energy announced its plans to purchase Hawaiian Electric Industries for $4.3 billion. However, in July 2016, Hawaii's Public Utilities Commission rejected the offer in a 2-0 vote over doubts of NextEra Energy's commitment to the state's renewable energy goal, which terminated the merger agreement. The proposed merger had support from over 25 local groups, including the Hawaii State AFL-CIO and the Hawaii Chamber of Commerce.
NextEra Energy and Energy Future Holdings, parent company of Texas-based utility Oncor Electric Delivery, reached a $18.7 billion merger agreement on July 29, 2016, but the agreement was terminated in July 2017 after the Texas Public Utility Commission rejected the offer over disagreement on the control of Oncor's board of directors. Two other competing bids were submitted in July 2017 for purchasing Oncor, including a $17.5 billion bid from Berkshire Hathaway Energy and a $18.5 billion bid from Elliott Management Corporation.
It was revealed in January 2018 that South Carolina State Senator Mike Fanning and other state lawmakers were negotiating with NextEra Energy over a possible purchase of SCANA and Santee Cooper. Dominion Energy offered $14.6 billion to buy SCANA, but Fanning and other state lawmakers have harshly criticized the proposal over a lack of future taxpayer relief.
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Corporate affairs
Litigation
In January 2018, NextEra Energy, along with Entergy, withdrew from the Nuclear Energy Institute (NEI) over disagreements on the trade group's agenda. In February 2018, NextEra Energy filed a lawsuit against NEI, accusing the trade group of "retaliatory action" and "extortion", claiming that NEI revoked its ability to access the Personnel Access Data System (PADS), the nuclear industry personnel database, unless $860,000 was paid. The president and CEO of NEI responded that the organization "vehemently denies all of the allegations in NextEra's lawsuit and will vigorously defend our position in court" and that "NextEra lost the ability to participate in PADS upon choosing to discontinue its NEI membership".
Politics
During the 2016 Republican Party presidential primaries, NextEra Energy donated $1 million to a Super PAC supporting Jeb Bush's presidential candidacy.
Charitable causes
In September 2017, the NextEra Energy Foundation, the charitable arm of NextEra Energy, donated $1 million to the Florida Disaster Fund and matched individual contributions of employees in the wake of Hurricane Irma.
References
External links
- NextEra Energy
- NexEra Energy Shareholder Report 2014
Source of article : Wikipedia
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