FPL Earnings Virtually Flat In 2nd Qtr.

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TALLAHASSEE (CBSMiami/NSF) – Florida Power & Light’s second-quarter net income was virtually flat, as the utility continued moving forward with power-plant projects.

According to an earnings report released Wednesday by parent company, NextEra Energy, Inc., FPL had net income of $448 million, or 96 cents a share, from April 1 to June 30, compared to $435 million, of 97 cents a share, during the same period in 2015.

In a release summarizing the results, NextEra Energy highlighted issues such as FPL receiving a site certification for a planned natural-gas plant scheduled to begin operating in Okeechobee County by mid-2019.

But the release also noted a May ruling by the Florida Supreme Court that rejected an FPL strategy to invest ratepayers’ money in an Oklahoma natural-gas project.

“Growth driven by continued investment in the business was offset by share dilution and a negative impact relating to the Florida Supreme Court’s decision to reverse the Florida Public Service Commission’s … approval of the company’s natural gas reserves program,” the release said.

Meanwhile, the parent NextEra Energy reported net income during the second quarter of $540 million, or $1.16 a share, compared to $716 million, or $1.59 a share, during the same period last year. On an adjusted basis, NextEra reported earnings of $777 million, or $1.67 a share, compared to $699 million, of $1.56 a share, in 2015.

The News Service of Florida contributed to this report.

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