nextera energy renewables solar wind florida utility fpl
related: ExxonMobil Koch Industries Fossil Fuel Bloc
Who They Are
NextEra Energy, Inc. The world’s largest utility company by market capitalization ($150+ billion, 2024) and the largest generator of wind and solar energy in the world. NextEra operates through two subsidiaries: Florida Power & Light (FPL, the largest electric utility in Florida) and NextEra Energy Resources (the largest wind and solar developer globally). Revenue: $28 billion (2024).
NextEra PAC contributes $3-5 million per cycle — one of the largest utility PACs — with lobbying spending of $8-12 million annually. The company’s political operation is the most aggressive in the utility sector: NextEra’s Florida lobbying operation has shaped the state’s energy policy to protect FPL’s monopoly while the company’s federal lobbying promotes renewable energy tax credits that benefit NextEra Resources.
What They Want
Extension and expansion of renewable energy tax credits (Production Tax Credit, Investment Tax Credit), protection of utility monopoly structures in Florida, opposition to rooftop solar net metering (which competes with utility-scale solar), favorable transmission line permitting, and reduced state regulatory authority over utility rates.
What They’ve Gotten
FPL Rate Increases: Florida Power & Light secured a $1.2 billion rate increase in 2022 from the Florida Public Service Commission — an increase approved despite FPL’s existing profitability and record profits. FPL has repeatedly used the regulatory process to increase rates while simultaneously fighting rooftop solar policies that would reduce customer dependence on FPL’s grid.
Anti-Rooftop Solar: NextEra/FPL lobbied against Florida’s net metering policies, supporting legislation that would reduce the rate utilities pay rooftop solar owners for excess electricity. The company’s position: utility-scale solar (which NextEra builds and profits from) is preferable to rooftop solar (which reduces customer demand for FPL’s electricity). The “pro-renewable” company fights the renewable energy deployment model that doesn’t run through its monopoly.
Contradiction
NextEra markets itself as the world’s leading renewable energy company while its Florida subsidiary fights rooftop solar — the most democratized form of renewable energy. The contradiction reveals the business model: NextEra wants renewable energy, but only renewable energy it controls and profits from. Distributed generation (rooftop solar) threatens the utility monopoly model; utility-scale generation (NextEra’s wind and solar farms) reinforces it. “Green energy” is the product; monopoly control is the business model.
Sources
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