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NextEra Energy Resources is a subsidiary of NextEra 

Energy; Florida Power & Light is NextEra Energy's other 

principal business 

• $22.7 8 market capitalization 

• 42,678 MW in operation 

.------- • $15.6 B operating revenues 

• $48.5 B in total assets 

• One of the largest U.S. electric utilities 

• Vertically integrated, retail rate-regulated 

• 4.5 MM customer accounts 

• 24,530 MW in operation 

• $11.5 B in operating revenues 

• $26.8 B in total assets 

2 Market capitalization as of September 1, 201 0; source: Bloomberg 

Operating revenues for the year ended December 31, 2009 

All other data as of December 31 , 2009 

NextEra Energy Resources 

• Successful wholesale generator 

• U.S. leader in renewable generation 

• Assets in 26 states and Canada 

• 18,148 MW in operation 

• $4.0 B in operating revenues 

• $20.1 Bin total assets 
NextEra Energy is one of the largest power companies in the 

u.s. 

Owned Capacity(1) 

50,000 

45,000 

NextEra Energy 

- 42,678 

n 40,000 

35,000 

30,000 I .- .-...--

.-

MN 25,000 

20,000 

15,000 

10,000 

5,000 

0 

r- r-

~~~~~ .-

.._ 

Number of Retail Customers(2) 

6 

5 

4 

No. of 

Customers 3 

(millions) 

2 

1 

0 

I 

t4.5MM I 

I 

-"-_I I _~ ~ ~ ri 

$20 

$18 

$16 

$14 

$12 

SB $10 

$8 

$6 

$4 

$2 

$O I U 

$3.0 

$2.5 

$2.0 

$6 $1.5 

$1 .0 

$0.5 

Revenue(3) 

NextEra Energy $15.6 B 

I _, ......... -

~ 

........, .--

.---

Net lncome(3) 

NextEra Energy 

$1.68 

$0.0 , ' 'I - ' ' ' ' ' ' ' ' I I' ' ' ' 

nnn 

3 

(1) 

(2) 

(3) 

Source: SNL Financial except for NextEra Energy; FPL 2010 Ten Year Site Plan Schedules 1 & 9; Energy Resources portfolio as of 

December 31, 2009 

Source: 2010 EEl DataSource Survey as of December 31 . 2009 

Source: Bloomberg data for S&P Electric Utilities Index components as of December 31 , 2009 

r =:\--era 

ENERGVe 

RESOURCES 
NextEra Energy is significantly diversified across its portfolio 

of assets and opportunities 

Generation Mix <

1

> 

Solar..__ 

(

1

) Data as of December 31 , 2009 

4 

Oil 3o/o 

/_........Hydro 1 o/o 

Other 3o/o 

Generation by Region <

1

> 

__. Other South 

3o/o 

Florida 

58o/o 

t -,.:-era 

ENERGY. Proprietary & Confidential Information RESOURCES 
Our strategy has won NextEra Energy widespread industry 

recognition 

5 

~ 

~ 

This ' is our version 

of a "four-peat., 

FORTUr\E 

WORLD'S MOST 

ADMIRED 

COMPANIES ~ :1- rum1c & GIS unums 

We've been No. 1 on the Fortune 

"Most Admired" list for 4 years in a 

row, and we were recognized as 

one of the 10 most innovative 

companies in the world this year 

,/ 

We were named Power 

Company of the Year by Platts 

against a field of 200 

international competitors 

=::-era ENERGY~ Proprietary & Confidential Information RES OU RCES 
__._ --- --- --- --- --- --- - - --- - - - --

NextEra Energy Resources has 18,148 MW located across 26 

states and Canada 

NextEra Energy Resources<1) 

• Successful wholesale 

generator 

• U.S. leader in renewable 

generation 

• Physical assets in 26 

states and Canada 

• 18,148 MW in operation 

• $4.0 billion in operating 

revenues 

• $20.1 billion in total 

assets II States and provinces 

with Energy 

Resources power 

generation facilities 

6 (1) Operating revenues for the year ended December 31 , 2009; all other data as of 

December 31 , 2009 

Proprietary & Confidential Information 

~ Wind 

• Hydro 

~ Natural Gas/Oil 

~ Solar 

• Nuclear 

• Other 

·=,·-era· -· ...... 

ENERQY~ 
-- -- -- J_ -- -- -- -- -- -- -- -- -- -- --

NextEra Energy Power Marketing brings power from our 

generating facilities to market and hedges and optimizes the 

output of those facilities 

Asset-Based Market Activity 

• Daily scheduling of units with Independent Scheduling Operators 

{ISO's) in New England, Mid Atlantic, Midwest, Texas and 

California 

• Execute longer-term hedges for our assets with counterparties 

- Many financial deals executed with banks 

• We actively manage many of our competitive assets to take 

advantage of changing market conditions ("Asset Optimization") 

7 

- As market prices for natural gas and electricity change, 

margins for gas-fired generating assets can be increased, 

without increased risk, by repurchasing hedges 

- See example on next page 

Proprietary & Confidential Information 
~ --- --- --- --- ---

NextEra Energy Power Marketing_ actively manages natural 

gas-fired facilities to realize the full "option" value of the 

asset; transactions increase margin without additional risk 

8.00 

6.00 

4.00 

Gross 2.00 

Margin 

($/MWh) 0.00 

-2.00 

-4.00 

-6.00 

~ ~~ 

~~ 

" 

8 

Asset Optimization Example 

Historical Forwards 

Sold 100 MW 

@$3.43 

1 

¥- ~" "'" 

~~ 

"'~~ 

Bought 

100 MW @ -$3.01 

~co 

~" ~" 

~~co 

~~~ 

~q, 

~f'l;j ~" 

Proprietary & Confidential Information 

• 

Sold 100 MW@ 

$5.93 ~ 

~~q, 

~~ ~ 

~q, 

~" ~"' 

Asset is 

Economic 

when Gross 

Margin> 0 

Asset is not 

Economic 

when Gross 

Margin< 0 

·-.. era 

ENERGVA 

RESOURCES 
- -- -- -- ____1__ ~ - -- -- - - -- -- --

NextEra Energy Power Marketing also provides full 

requirements services to utilities and municipalities in the 

Northeast, Texas and the Midwest 

Customer Supply Business 

• Many states have deregulated their electric utilities, requiring 

the utilities to divest their generating assets 

• These utilities must procure their power supply from third 

parties 

• As one of the largest asset owners in the nation, NextEra 

Energy Resources is a natural counterparty to provide this 

service 

• Transactions executed with utilities and municipalities in many 

states, including 

- Connecticut, New Jersey, Maine, New Hampshire, 

Massachusetts, Pennsylvania, Maryland, Washington DC, 

Delaware and Texas 

• In most cases, NextEra Energy Power Marketing will hedge 

these transactions in the market with counterparties 

9 

Proprietary & Confidential Information 
--- -- -- _._ --- --- --- ---- --- --- --- --- ---

NextEra Energy Resources provides retail energy through its 

subsidiary, Gexa Energy 

Retail Power Business 

• Residential Service in Texas 

• Commercial supply in multiple states across the country 

- Texas, Maine, Connecticut. Illinois, Maine, Maryland, 

Massachusetts, Ohio, Rhode Island, Washington, D.C., 

Pennsylvania, New Hampshire and New Jersey 

• NextEra Energy Power Marketing will hedge these retail sales in 

the market with counterparties 

10 

Proprietary & Confidential Information 

"~ =~:-era 

ENERGVe 

RESOURCES 
__t_ --- --- -- --- ---

NextEra Energy Power Marketing hedges our competitive 

assets and our Customer Supply businesses directly with 

counterparties 

Counterparty Transactions 

Counterparties 

End-User 

Transactions 

Proprietary 

Trading 

Sell Power 

Buy Fuel 

Buy Power 

I 

It is critical that 

these swaps 

qualify for the 

end-user 

exemption from 

clearing 

Buy 

Power 

Sell 

Fuel 

Competitive 

Assets 

Customer 

Supply 

Portfolio 

Sell 

Power 

End-User 

Customers 

Trading 

Directly with 

Counterparties 

\ 

Trading on ICE 

and NYMEX 

Swaps that 

cannot be 

cleared 

Hedging our assets and customer supply businesses directly with 

counterparties avoids carrying "open" positions on the exchanges 

11 

Proprietary & Confidential Information 

r· =~era 

ENERG ~ RESOURCES 
........_ 

Customer Supply and Proprietary Trading represent -7% of 

NextEra Energy Resources' gross margin, and an even smaller 

0

/o of NextEra Energy's business 

201 OE Next Era Energy Resources Gross Margin<1> 

• Nuclear 

• Gas/oil 

• Other Long Term 

Contracted 

Other Assets 

21o/o 

• Nuclear 

• Hydro 

• Gas/oil 

• Other 

" Customer supply 

busonesses 

" Proprietary trading 

" Gas iniraJs~ruciure 

(1) Gross margin includes NextEra Energy Resources' share of revenues, pretax effect of production and 

investment tax credits, pretax impact of the Recovery Act, and fuel expense for consolidated and equity 

12 method investments. Gross margin excludes the mark-to-market effect of non-qualifying hedges. 

r· ~~era 

ENERG ~ Proprietary & Confidential Information 
While certain parts of our business are exchange-conducted, 

bilateral swap execution and therefore the use of unsecured 

credit is an important component of our hedging strategy 

Key Credit Risk Management Practices 

New Counterparty 

• Comprehensive assessment of 

company's financial strength 

including: 

• Debt levels/maturity 

• Asset portfolio 

• Available liquidity 

• Current credit ratings 

• Regulatory status/stability 

• Current credit spreads 

• Use of modern master 

agreements/contracts 

13 

• Collateral threshold matrix 

• Permits netting of financial and physi.c~l transactions for 

marg1n1ng 

• Designed to conform with safe 

harbor provisions in the 

Bankruptcy Code 

On-going 

• Daily margin activities in accordance 

with contract terms 

• Periodic reviews of counterparties' 

financial performance 

• Notification of rating agency actions 

• Monitor credit-related events that 

negatively impact credit spreads 

• For distressed counterparties, 

determine appropriate action such as: 

• Internally restrict level or duration of 

activity 

• Purchase physical product to offset 

credit exposure 

• Provide daily credit reports to 

commercial personnel noting any 

internal restrictions 

r =-~era 

ENERGY. Proprietary & Confidential Information RESOURCES