JUNO BEACH — NextEra Energy announced it has been named to Fortune’s 2022 list of the “World’s Most Admired Companies” and ranked No. 1 in the electric and gas utilities industry for the 15th time in 16 years. NextEra Energy, whose principal businesses are Florida Power & Light Company (FPL) and NextEra Energy Resources, LLC, is also only one of two Florida-based companies to rank No. 1 in its industry across all of the sectors covered by Fortune’s 2022 list.
“We are honored to be recognized again on Fortune’s prestigious list as the leader within our industry,” said Jim Robo, NextEra Energy chairman and chief executive officer. “This recognition reflects our success to execute our long-term strategy of generating clean, renewable energy, while protecting the environment and giving back to our communities for the benefit of our customers, shareholders and employees. Our team of 15,000 talented professionals work every day to identify ways to improve our business so that we can deliver even more value to the customers we serve. Through the hard work, perseverance and commitment to excellence of our employees, we are shaping how energy is produced and delivered while advancing a sustainable energy future.”
In the electric and gas utilities industry, NextEra Energy ranked No. 1 for eight of the nine rated attributes, including innovation, people management, use of corporate assets, quality of management, financial soundness, long-term investment value, quality of products/services and global competitiveness.
Performance highlights for NextEra Energy include:
- Leading the world in wind, solar and battery storage energy – NextEra Energy is the world’s largest generator of renewable energy from the wind and sun and a world leader in battery storage. NextEra Energy Resources continues to advance its position as the leading developer and operator of wind, solar and battery storage projects. In 2021 NextEra Energy Resources had a record year of renewables execution, adding roughly 7,200 net megawatts (MW) of new renewables and battery storage projects to its backlog, as well as commissioning approximately 3,800 MW of wind, solar and storage projects. FPL, a national leader in solar energy, placed another 671 MW of cost-effective solar in service, which completed the first phase of its SolarTogether community solar program. In addition, FPL commissioned the world’s largest integrated solar-powered battery system, the 409-MW Manatee Energy Storage Center, which will allow FPL customers to continue to benefit from low-cost renewable energy. Beyond solar, construction on both the highly efficient, roughly 1,200-MW Dania Beach Clean Energy Center and the North Florida Resiliency Connection remain on schedule and on budget as they continue to advance toward projected commercial operation dates later this year.
- Investing in American infrastructure – NextEra Energy invested more than $14.6 billion in clean energy infrastructure in 2021 and more than $110 billion over the last decade. NextEra Energy is one of the largest capital investors across any industry in the U.S. over this period.
- Providing outstanding value for shareholders – In 2021, NextEra Energy delivered a total shareholder return of more than 23%, significantly outperforming the S&P 500 Utilities Index, and continuing to outperform both the S&P 500 and the S&P 500 Utilities Index in terms of total shareholder return on a three-, five-, 10- and 15-year basis. Over the past 15 years, NextEra Energy outperformed nearly all of the other companies in the S&P 500 Utilities Index and quadrupled the average total shareholder return of the index.
- Respecting our environment – In 2020, NextEra Energy achieved emissions rates of SO2, NOx and CO2 that were 97%, 79% and 47% lower, respectively, than the average U.S. utility sector. The company’s goal is to reduce its CO2 emissions rate by 67% by 2025, from a 2005 baseline. In NextEra Energy’s view, no company in any industry has done more to reduce carbon emissions and to confront climate change than NextEra Energy.
- Providing outstanding customer value – Consistently one of the nation’s cleanest and most reliable electric utilities with bills that have remained below the national average for more than a decade and among the lowest of all 53 electric providers in the state of Florida, FPL is focused on creating innovative solutions to drive down costs and continue to improve tangible benefits for its more than 5.7 million customers.
- Providing outstanding reliability – FPL was recognized for the sixth time in seven years as being the most reliable electric utility in the nation and, last year, ranked No. 1 in both residential and business customer satisfaction in the Southern U.S. among large electric providers, by J.D. Power. In 2021, FPL delivered its best-ever service reliability and was named the recipient of the ReliabilityOne™ National Reliability Excellence Award. Celebrating sustained leadership, innovation and achievement in energy reliability, the award is widely regarded in the energy industry as one of the most prestigious honors, reinforcing a company’s commitment to reliable service for its customers.
- Responding to unprecedented natural disasters – In 2021, FPL was recognized by the Edison Electric Institute (EEI) with its Emergency Response Award for the company’s efforts to help other utilities and customers recover following Hurricane Ida. The Category 4 hurricane made landfall in Louisiana in August 2021, leaving more than 1 million homes and businesses without power before leaving a trail of destruction northward. In response, FPL deployed more than 1,250 employees and contractors to support restoration and recovery efforts.
Fortune’s annual list is based on ratings from executives, directors and analysts, who rate the highest-revenue companies within their industry on nine criteria, including innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment value, quality of products/services and global competitiveness.
