NEE · Earnings call · 2026Q3T · Full report

Customer Dynamics

NEXTERA ENERGY INC · 2026-10-21 · Importance 65 · Surprise 74 · In source text

FPL’s third-quarter retail sales increased 2.8% year over year, reflecting customer growth and weather. Weather-normalized retail sales rose 1.4% year over year due to customer growth. FPL raised its large-load expectation from 6 gigawatts to 8 gigawatts by 2032 and said it remained confident it could announce a Florida large-load transaction by year-end 2026. Management cited more than 20 gigawatts of large-load interest in Florida and said battery storage would be needed to serve the first few gigawatts of demand.

Key facts

• FPL has a large-load tariff framework designed to protect existing customers from incremental costs of serving new demand, and its protections and provisions have been largely codified into Florida law.
• FPL's typical residential bill is approximately 37% below the national average and is projected to increase 2% annually on average through the end of the decade.
• NextEra Energy said FPL's bill is 20% lower than it was 20 years ago while the company invested in generation and transmission.
• FPL non-fuel O&M is more than 70% lower than the industry average per megawatt hour.
• Adjusted for inflation, FPL's typical residential bill in Northwest Florida is approximately 25% lower than in 2018, before the Gulf Power acquisition.
• FPL Q3 2026 retail sales increased 2.8% year over year and weather-normalized retail sales increased 1.4%.
• FPL's residential customer satisfaction ranks in the national top decile, and it has the lowest billing cost per customer.

Impact estimates