Beatrice Lang
Florida Power & Light Company (FPL) is the largest power utility in Florida, serving around 5 million customers and 11 million people. FPL is a subsidiary of NextEra Energy Inc., which is also the parent company of NextEra Energy Resources, LLC—the world's largest generator of renewable energy from wind and solar power and a leader in battery storage. FPL has a long history in Florida, with early power stations primarily used for ice manufacturing and selling excess power. Over the years, FPL has expanded beyond Florida, modernized its infrastructure, and been recognized for its reliability and innovation. Other electric companies serving Florida include Central Florida Electric Cooperative, Tampa Electric, and SECO Energy.
| Characteristics | Values |
|---|---|
| Name | Florida Power & Light Company (FPL) |
| Headquarters | Juno Beach, Florida |
| Parent Company | NextEra Energy Inc. |
| Subsidiaries | Gulf Power Company, FPL FiberNet, Florida City Gas |
| Customer Base | 5 million accounts, 11-12 million people |
| Recognition | Ranked as the nation's most reliable electric power utility, Recognized as one of the "World's Most Admired Companies" by Fortune in 2023 |
| Technology | Smart grid technology, First hybrid solar plant |
| Services | Generates, transmits, distributes, and sells electric energy |
| Area Served | Florida, Georgia, New Hampshire, Texas |
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What You'll Learn
Florida Power & Light Company (FPL)
The Florida Power & Light Company (FPL) is the largest power utility company in Florida, serving approximately 5 million customers and 11 million people in the state. It is a Juno Beach, Florida-based power utility company that generates, transmits, distributes, and sells electric energy. FPL is the principal subsidiary of NextEra Energy Inc., formerly known as FPL Group, Inc.
FPL has a long history in Florida, dating back to the early 1920s when American Power & Light (APL) purchased power stations in the state to provide more consistent power. In December 1925, APL spun off its Florida properties into a new subsidiary, FPL, to replace the Miami Beach Electric Company. By early 1927, FPL had already gained 115,000 customers. In 1950, the company became independently listed on the New York Stock Exchange.
Throughout the 1960s and 1970s, FPL continued to expand and build new power stations, including Florida's first nuclear power plant at Turkey Point, which began operating in October 1972. In 1984, FPL created the holding company FPL Group for acquisitions and the formation of new companies. FPL Group began expanding beyond Florida in 1990, purchasing a majority stake in a Georgia Power generation facility.
In the early 2000s, FPL started modernizing its power generation infrastructure, leading to reduced emissions and fuel costs. By 2013, the company's oil usage had decreased to less than 1 million barrels annually. FPL has also been an early adopter of smart grid technology, with the installation of smart meters beginning in 2009. In 2011, FPL built the world's first hybrid solar plant in Martin County, Florida, with a generation capacity of 75 megawatts. As of 2014, the company had installed 4.9 million smart meters.
FPL has consistently ranked as one of the nation's most reliable electric power utilities, earning the top spot for the fifth time in six years in 2020. The company has proposed a new four-year rate plan for 2026-2029 to meet the power demands of Florida's growing population.
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FPL's smart grid technology
Florida Power & Light Company (FPL) is the largest power utility company in Florida, serving approximately 5 million customers and 11 million people in the state. FPL has invested heavily in smart grid technology to improve the reliability of its service and reduce the number of outages.
FPL has also worked with S&C to implement resetting fuses on distribution transformers, with positive results. The company plans to deploy 50,000 of these fuses across its distribution system to further enhance grid reliability. FPL's smart grid technology has proven effective during hurricanes, helping to avoid 1.4 million outages over the last three years.
FPL's commitment to smart grid technology has led to significant improvements in its performance and reliability. In 2020, the company achieved its best-ever reliability performance and was ranked as the nation's most reliable electric power utility for the fifth time in six years. FPL continues to invest in strengthening its grid and installing advanced smart grid technologies to deliver even better service to its customers.
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$230.38 $256
Gulf Power Company merger
Florida Power & Light Company (FPL), the principal subsidiary of NextEra Energy Inc., is Florida's largest power utility company. It is headquartered in Juno Beach, Florida, and serves approximately 5 million customers and 11-12 million people in Florida.
Gulf Power Company (GPC) was a U.S. electric utility founded in 1925 and headquartered in Pensacola, Florida. It served over 450,000-465,000 customers in 10 counties and 71 towns in northwest Florida and had a generating capacity of 2.278 GW.
In 2018, NextEra Energy announced its plans to acquire Gulf Power from Southern Company. The acquisition was completed on January 1, 2019. Subsequently, on January 1, 2021, Gulf Power was legally merged into Florida Power & Light. NextEra Energy operated GPC as a separate division within FPL through 2021. In early 2022, Gulf Power was absorbed into FPL as its Northwest Florida division.
The merger aimed to build a more resilient and sustainable energy future for Florida, a state vulnerable to the front lines of climate change and severe weather. According to Sarah Gatewood, Manager of Communications for Gulf Power/FPL, "When we have a bigger company, we have greater economies of scale, and we can help keep costs lower for our customers than we could by operating two different systems." As a result of the merger, FPL also assumed ownership of the Scherer plant and the Daniel Generating Plant in Jackson County, Mississippi, which was previously co-owned by Gulf Power and Mississippi Power.
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FPL's expansion beyond Florida
Florida Power & Light Company (FPL), the principal subsidiary of NextEra Energy Inc., is the largest power utility in Florida. It is a Juno Beach, Florida-based power utility company serving roughly 5 million customers and 11 million people in Florida.
FPL began its expansion beyond Florida in 1990 when FPL Group purchased a majority stake in a Georgia Power generation facility. Over the next two decades, FPL continued to expand into the southern and eastern United States. In 1998, they created a new holding group, FPL Energy, to manage the company's efforts in electricity markets outside of FPL's original service area.
FPL continued to expand its reach and diversify its assets in the early 2000s. In 2002, the company acquired a controlling stake in New Hampshire's Seabrook Station Nuclear Power Plant, and in 2005, it acquired Texas-based Gexa Energy. FPL also launched the telecommunications subsidiary FPL FiberNet during this time. By 2002, FPL's customer base had reached 4 million.
In addition to its expansion beyond Florida, FPL has also been actively modernizing its power generation infrastructure. During the early 2000s, FPL invested in modernizing its power generation infrastructure, resulting in reduced emissions, fuel costs, and oil usage. By 2013, the company had significantly decreased its oil usage, using fewer than 1 million barrels of oil annually.
FPL has also demonstrated a commitment to renewable energy sources. In 2011, they built the world's first hybrid solar plant in Martin County, Florida, which combined solar thermal collectors with combined cycle natural gas generation. FPL has also launched initiatives such as Solar for Schools and SolarNow, installing solar panels at schools and community centres across Florida.
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Central Florida Electric Cooperative
The Central Florida Electric Cooperative is a not-for-profit organisation that provides electrical energy to its members. It offers educational opportunities to its community, including grants and scholarships.
In addition to Central Florida Electric Cooperative, there are several other notable electrical companies in Florida. Florida Power & Light Company (FPL), a subsidiary of NextEra Energy Inc., is the largest power utility in Florida and the United States. It serves approximately 5 million customers and 11-12 million people in the state. FPL has been ranked as the nation's most reliable electric power utility multiple times and has invested in modernising its power generation infrastructure, leading to reduced emissions.
Another electrical company in Florida is SECO Energy, one of the nation's largest electric distribution cooperatives located in Central Florida. They provide services to a seven-county area and offer energy efficiency tips to help customers save energy and money on their electric bills.
Florida has a history of early power stations primarily used for ice manufacturing and selling excess power. By the 1920s, the demand for power had increased, leading to the purchase of power stations by American Power & Light (APL). FPL was established in 1925 as a subsidiary of APL, and it has since expanded its reach beyond Florida, modernised its infrastructure, and invested in smart grid technology.
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Frequently asked questions
It is the largest power utility in Florida and the principal subsidiary of NextEra Energy Inc.
FPL serves approximately 5 million customers and 11 million people in Florida.
FPL is the first company in the world to build a hybrid solar plant, which was located in Martin County, Florida.
NextEra Energy, FPL's parent company, is also the parent company of NextEra Energy Resources, LLC, which is the world's largest generator of renewable energy from the wind and sun.
Some other electric companies in Florida include SECO Energy, Central Florida Electric Cooperative, and Tampa Electric.
