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MarketScreener Homepage  >  Equities  >  Nyse  >  NextEra Energy    NEE

NEXTERA ENERGY

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NextEra Energy : FPL has restored power to all customers affected by Tropical Storm Isaias amid COVID-19 pandemic

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08/03/2020 | 04:11pm EDT

JUNO BEACH, Fla. - Florida Power & Light Company (FPL) has restored service to all customers affected by Tropical Storm Isaias. While customers experienced approximately 40,000 outages, preliminary estimates show the company's smart grid technology helped avoid approximately 18,000 outages. The leading cause of outages was vegetation and debris blowing into power lines. FPL is now working with other utilities to the north to help reallocate crews that came to assist along with releasing resources to help respond to Isaias as it moves toward the Carolinas.

'This was an unprecedented situation as, for the first time in recorded history, Florida faced two declarations of state of emergency for both a pandemic and a hurricane at the same time,' said Eric Silagy, president and CEO of FPL. 'We have been preparing for this moment since the seriousness of COVID-19 became apparent early this year, and we have been implementing additional safeguards into our restoration preparations. I'm pleased that our team executed safe COVID-19 practices and did not suffer any injuries as part of this restoration effort as they worked to get the lights back on for our customers. As with all our storm responses, we will continue to look for opportunities for improvement and implement them moving forward.'

'Thank you to our customers for their patience as we worked around-the-clock to restore their service as the storm moved north,' said Silagy. 'I would also like to thank our industry partners for helping to bolster our workforce, as well as Florida Gov. Ron DeSantis, law enforcement, first responders and other state and local officials for their assistance in helping us quickly get the lights back on. We are only beginning to enter the height of hurricane season, and I strongly urge customers to remain vigilant and prepared. It's not a matter of if - it's only a matter of when the next storm will affect our area.'

By the numbers

  • Approximately 40,000 customers restored before Isaias left the state.
  • Peak number of outages was just over 5,000 at any given time during the storm.
  • The average customer was restored in approximately 85 minutes.
  • Preliminary estimates show approximately 18,000 outages were avoided thanks to investments in smart grid technology.
  • Approximately 50 drones deployed to help crews visualize damage in hard to access or flooded areas.

# # #

Florida Power & Light Company
Florida Power & Light Company is the largest energy company in the United States as measured by retail electricity produced and sold, serving more than 5.1 million customer accounts or an estimated 10 million+ people across the state of Florida. FPL's typical 1,000-kWh residential customer bill is approximately 30% lower than the latest national average and among the lowest in the U.S. FPL's service reliability is better than 99.98%, and its highly fuel-efficient power plant fleet is one of the cleanest among all electric companies nationwide. The company was recognized in 2020 as one of the most trusted U.S. electric utilities by Escalent for the seventh consecutive year. A leading Florida employer with approximately 8,900 employees, FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE), a clean energy company widely recognized for its efforts in sustainability, ethics and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune's 2020 list of 'World's Most Admired Companies.' NextEra Energy is also the parent company of Gulf Power Company, which serves approximately 470,000 customers in eight counties throughout northwest Florida, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.GulfPower.com, www.NextEraEnergyResources.com.

For further information: Media Line: 561-694-4442 @FPL_Newsroom

Disclaimer

NextEra Energy Inc. published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2020 20:11:03 UTC

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Sales 2020 20 286 M - -
Net income 2020 3 808 M - -
Net Debt 2020 48 301 M - -
P/E ratio 2020 37,1x
Yield 2020 1,99%
Capitalization 138 B 138 B -
EV / Sales 2020 9,18x
EV / Sales 2021 8,87x
Nbr of Employees 14 800
Free-Float 99,8%
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