Press Mention Seeking Alpha June 16, 2020
SACE Referenced
NextEra's FPL behind rest of Florida, U.S. on energy efficiency, study says
In this mention
According to a Southern Alliance for Clean Energy analysis, Florida utilities—particularly NextEra Energy subsidiaries FPL and Gulf Power—lag significantly behind the rest of the U.S. in energy efficiency commitments. FPL saved only 54.2 GWh through efficiency programs in 2019, substantially less than Duke Energy and Tampa Electric despite selling far more electricity. The study highlights FPL's underperformance relative to its market position and electricity sales volume.
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- Florida utilities, especially NextEra Energy ( NEE +0.7%) subsidiaries Florida Power & Light and Gulf Power, badly lag the the rest of the U.S. in commitments to energy efficiency, according to an analysis by the Southern Alliance for Clean Energy.
- FPL, the state's largest utility by number of customers, saves less electricity through efficiency measures than other major Florida utilities, despite selling far more electricity, SACE says.
- In 2019, FPL's efficiency programs saved 54.2 GWh of electricity, about two-thirds of savings achieved by Duke Energy ( DUK +0.7%) and less than half of the savings from Tampa Electric, according to SACE, but FPL's annual electricity sales are 3x higher than Duke's and 6x more than TECO's.