NextEra Energy, Inc. (NYSE:NEE) Q1 2023 Earnings Call Transcript

Durgesh Chopra: Hey good morning team. Thanks for taking my question. All my other questions have been asked and answered. Just quickly, I wanted to follow up on the 10-year pipeline. Maybe, can you just remind us, what are sort of the key milestones for us to watch from here on from a regulatory standpoint for you to get approvals et cetera, et cetera? And then, just second, would this be the spending here you mentioned post-2025. Would some of this spending investment be accretive to the current plan you have through 2026? Thank you.

Armando Pimentel: So, it’s Armando. The way to think about it is for the rest of the time under the settlement agreement that we have at FPL, so through the end of 2025, what you see in the 10-year site plan is what we have in our plan, right? There’s no additional amounts that will be added to that CapEx. So it’s really about ’26 moving forward. In terms of approval at the Public Service Commission, you’ll see that, as we provide the information for our next rate case, most of that — well, all of that — all of the big generation in there is solar and there’s also some storage in there. So, there’s no additional CapEx through 2025 and most of that, you will see when we update our expectations at some point beyond ’26.

Durgesh Chopra: Got it. So the approval — Armando, thank you for that, I appreciate it. The approval of this plan comes through to the rate case process?

Armando Pimentel: While the approval comes through either the rate case process, because we’ve got CapEx that we’ve invested just as general infrastructure or it will come through one of the two solar programs that we have today. So our Sombra solar program and also our SolarTogether solar program. The Sombra and SolarTogether solar program as long as we stick within the guidelines that we reached in the last settlement, those will get approved on an annual basis.

Durgesh Chopra: Got it. Thanks, so much. Much appreciated. Thank you, guys.

Operator: This concludes our question-and-answer session. The conference has also now concluded. Thank you for attending today’s presentation. You may all now disconnect.