Nextera Energy, Inc. · NYSE:NEE
Nextera Energy — Edison Electric Institute Conference November 2021
72 slides from Nextera Energy's conference presentation, November 2021
Slide 1: Edison Electric Institute Conference
Edison Electric Institute Conference November 2021 1
Slide 2: Cautionary Statements And Risk Factors That May Affect Future Results
Cautionary Statements And Risk Factors That May Affect Future Results These presentations include forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward-looking statements. The factors that could cause actual results to
Slide 3: NextEra Energy is comprised of strong businesses supported by a common platform
NextEra Energy is comprised of strong businesses supported by a common platform • ~$167 B market capitalization(1) • ~59 GW in operation(2) • ~$139 B in total assets(3) • The largest vertically • The world leader in integrated electric utility electricity generated in the United States by from the w
Slide 4: NextEra Energy's strategic focus remains on investing for customers, shareholders, and the environment
NextEra Energy’s strategic focus remains on investing for the benefit of customers, shareholders, and the environment NextEra Energy Strategic Focus • FPL’s continued smart investments further enhance its best-in- class value proposition – FPL residential customer bills remain well below the nationa
Slide 5: Long-term track record of delivering value to shareholders
We have a long-term track record of delivering value to shareholders Adjusted Earnings Per Share Total Shareholder Return(1) $2.31 40% 120% 112% 30% 100% 30% 80% 20% 18% $0.66 60% 49% 40% 32% 10% 20% '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 0% 0% 0% One Year Three Year 238% Di
Slide 6: Growth strategy has led to real change in relative position
Over a sustained period of time, our growth strategy has led to real change in relative position Top 20 Global Utility Equity Market Capitalization(1) As of 6/1/2001 ($ MM) As of 10/31/2021 ($ MM) Rank Market Cap Rank Market Cap 1 $38,574 1 $167,429 NextEra Energy 2 $38,185 2 $85,134 3 $34,476 3 $78
Slide 7: Core strategy has focused on ESG impacts for more than 25 years
Our core strategy has focused on the importance of ESG impacts for more than 25 years • Vision to be largest, most profitable clean energy provider in the world • Vision informed by our values: • We are committed to excellence • We do the right thing • We treat people with respect • Aim to be the mo
Slide 8: One of the lowest emissions profiles of any utility in North America
We have one of the lowest emissions profiles of any utility in North America Reducing Carbon Emissions(1,2) Average CO2 Emissions Rate: NextEra Energy vs. U.S. Electric Power Sector 75% increase in 1500 clean electricity generation(3) 1300 37% 1100 better CO2 900 ~57 MM tons of Lbs/ avoided CO2 MWh
Slide 9: ESG Highlights
NextEra Energy was recently recognized by S&P for its ESG leadership and “best in class” preparedness ESG Highlights(1) Environment Customers(2) • 47% better CO2 emissions rate than • 30% lower bills than the national average industry average in 2020 • 64% better operating costs than industry • Worl
Slide 10: Well positioned to continue our track record of growth
We are well positioned to continue our track record of growth Wholesale FPL Fleet FPL & Service Solar Under- Electrification Energy Territory Together grounding Services Expansion FPL Hydrogen Battery FPL Solar FPL T&D FPL New Infrastructure Generation Storage Expect >$60 B FPL of capital Capital Gu
Slide 11: Industry's clean energy transformation will expand and accelerate
We expect the industry’s clean energy transformation will further expand and accelerate over the coming years Disruptive Industry Changes Today Potential Cost per MWh Mid-2020s(1) AI / ($/MWh) Machine Learning Near-Firm Wind $20 - $30 EV & Renewables / Hydrogen Near-Firm Solar Storage $30 - $40 Mobi
Slide 12: Florida Power & Light is one of the best utility franchises in the U.S.
Florida Power & Light is recognized as one of the best utility franchises in the U.S. Florida Power & Light Company(1) • One of the largest electric utilities in the U.S. • Vertically integrated, retail rate-regulated • ~5.7 MM customer accounts • ~32 GW in operation • Operating revenues • FPL: ~$12
Slide 13: FPL has significant investment opportunities across its system
FPL, including Gulf Power, has significant investment opportunities across its system that are expected to generate customer savings and further enhance reliability FPL 1000-kWh 2019-2022 Residential Bill(1) Capital Expenditures(2) ~$166 ~40% Lower ~$99 ~$30 B T&D Storm Hardening All Other T&D Solar
Slide 14: FPL 2019 – 2022 Capital Expenditures
FPL, including Gulf Power, has significant investment opportunities across its system that are expected to generate customer savings and further enhance reliability FPL 2019 – 2022 Capital Expenditures(1) Projected Recovery Opportunity Status Investment(2) Mechanism Dania Beach Clean Energy Expected
Slide 15: FPL focus on long-term strategy and customer value proposition
At FPL, we are continuing to focus on the long-term strategy that has delivered our best-in-class customer value proposition FPL Customer Value Focus Operational Service Cost Effectiveness(1) Reliability(2) ($/Retail MWh) (Minutes) $13.54 ~58 ~17% ~$11.21 ~14% ~50 Good Reduction Good Improvement in
Slide 16: Gulf Power Execution Summary
Smart capital investments at Gulf Power have helped reduce non-fuel O&M costs by ~30% while driving meaningful improvements in emissions and reliability Gulf Power Execution Summary Operational Cost Effectiveness(1) CO2 Emissions Rate ($/Retail MWh) (CO2 Lbs./MWh) $32 ~30% 1,680 ~20% Good Good Reduc
Slide 17: Approved 2021 base rate settlement keeps bills low
The approved 2021 base rate settlement agreement keeps bills low and accelerates the U.S.’s largest solar buildout FPL(1) Approved Base Rate Settlement • Unanimous Florida Public Service Commission approval • Key elements of four-year agreement effective January 2022: – Retail base revenue increases
Slide 18: Energy Resources is the leading North American clean energy company
Energy Resources is the leading North American clean energy company Energy Resources • World leader in electricity generated from the wind and sun • ~26 GW(1) of generation in Wind operation Natural Gas – ~18 GW wind Nuclear Universal Solar – ~4 GW solar Storage – ~2 GW nuclear Other Pipeline – ~2 G
Slide 19: Energy Resources positioned to benefit from electrification
Energy Resources is well positioned to benefit as the US pursues electrification to deliver economic carbon reductions Competitive Advantages • Scale advantage enabling us to buy, 2020 Top 10 US Capital Investors(1) build and operate cheaper $25 $24 – 5th largest capital spender in U.S.(1) $20 $19 $
Slide 20: Energy Resources Development Program
Energy Resources’ competitive advantages position us to continue to capitalize on what we believe is the best renewables development environment in our history Energy Resources Development Program(1) (Signed Contracts as of October 20, 2021) 2021 – 2022 2023 – 2024 2021 – 2022 2023 – 2024 2021 – 202
Slide 21: Decarbonization could create ~$4 trillion investment opportunity through 2050
Decarbonization of the entire U.S. economy could create ~$4 trillion investment opportunity through 2050 2050 Decarbonized U.S. Economy: Growth in Renewables and Storage Opportunity(1) 2020 Capacity 170 GW ~20x ~40x Excess energy 2050 Power 3,550 GW converted to Sector $1,700 B hydrogen to Decarboni
Slide 22: Technology improvements have improved wind and solar economics
Technology improvements and capital cost declines have significantly improved wind and solar economics Wind & Solar Technology Levelized Cost of Levelized Cost of Electricity from Wind Electricity from Solar (Including Production Tax Credits(1)) (Including Investment Tax Credits) $/MWh $/MWh $70 $16
Slide 23: Energy storage cost declines
Increased manufacturing capacity and technology improvements have resulted in energy storage cost declines and the ability to create low-cost near-firm wind and solar Energy Storage Costs Battery Pack 4-Hour Cost Relative to Capacity(1) Battery Storage Adder(2) $/kWh GWh $/MWh $1,400 600 $80 $71-$81
Slide 24: Strong renewables market share driven by competitive advantages
Energy Resources’ strong renewables market share is driven by its competitive advantages MW 2000 31% 2020 Wind PPAs(1) share of 1500 6.5 GW 1000 market 500 0 NEER MW 2020 Solar PPAs(1) 2500 12% 2000 share of 1500 17.8 GW market 1000 500 0 NEER Energy Resources competes against a number of small play
Slide 25: Largest contracted pipeline of battery storage projects
Energy Resources has the largest contracted pipeline of battery storage projects in North America(1) 2020 Battery Storage PPAs(2) MW 1600 1400 1200 31% 1000 share of 4.6 GW 800 market 600 400 200 0 NEER In 2020, Energy Resources had a ~36% share of the solar + storage market(2), highlighting our com
Slide 26: Green hydrogen pilot projects
Energy Resources is actively pursuing green hydrogen pilot projects to serve a variety of markets New Opportunities in Hydrogen Company Application Behind the Green Industrial Industrial Meter Solar H2 Process On-Site Green Hydrogen Fuel Grid Electrical Solar H2 Storage Cell PPA Green Delivery Forkl
Slide 27: End-uses for hydrogen
The many end-uses for hydrogen make it a leading pathway to a zero-carbon future across many parts of the U.S. economy Power Sector Transport Industry Buildings Backup Remote Combined Power Generation Trucks Forklifts Ammonia Methanol Heat and Power Hydrogen Recip. Trains on Non- Steel Hydrogen Buse
Slide 28: Adjusted EPS and dividends per share growth expectations
We remain well positioned to continue our strong adjusted EPS and dividends per share growth NextEra Energy’s Adjusted Earnings Per Share Expectations • Expect adjusted EPS growth in the range of 6% to 8% off $2.77 - $2.55 - $2.97 2021 adjusted EPS $2.40 - $2.75 $2.54 • From 2018 to 2023 expect $2.3
Slide 29: NextEra Energy Value Proposition
NextEra Energy presents a compelling investment opportunity NextEra Energy Value Proposition Drill-down of S&P 500 Companies Adj. EPS CAGR(2) 374 Investment grade(1) ~9% ~5% 241 Market capitalization > $25 B Adj. EPS CAGR > 8% past 15 98 years(2) NEE Median S&P 500 DPS Growth(4) 73 ‘20 – ‘23E Annual
Slide 30: NextEra Energy Partners
NExTera energy’ PARTNERS 2
Slide 31: NextEra Energy Partners is a best-in-class clean energy company
NextEra Energy Partners is a best-in-class clean energy company NextEra Energy Partners’ Portfolio(1) • Stable cash flows supported by: – Long-term contracts with creditworthy counterparties – Geographic and asset diversity • ~6,840 MW of renewables – ~5,710 MW wind – ~1,100 MW solar – ~30 MW storag
Slide 32: One of the largest clean energy portfolios in the world
NextEra Energy Partners owns one of the largest clean energy portfolios in the world World’s Top Generators of Wind and Solar Energy in 2020(1) 70 59 60 50 45 44 44 40 TWh 40 37 30 29 24 21 20 19 10 0 NextEra NEE A B C D E F G H NextEra NEP Energy(2) Energy Partners(3) 1) Competitor production based
Slide 33: NextEra Energy Partners Investment Highlights
NextEra Energy Partners’ value proposition is driven by its high-quality portfolio, financial strength and flexibility, tax-advantaged structure, and visible growth opportunities Investment Highlights • High quality portfolio with ~14 year remaining contract life(1) Clean Energy – Diversified with ~
Slide 34: Growth Strategy
NextEra Energy Partners continues to focus on investing in long-term contracted clean energy assets with strong creditworthy counterparties and attractive cash flows Growth Strategy Wind Long-Term Organic Wind Solar Contract Growth Clean Strong Energy Operations Technology Attractive Asset to Batter
Slide 35: Third Party M&A Growth Opportunities
Best-in-class O&M, repowering, and financing capabilities, a willingness to consider creative structures and new asset classes all position NEP well for 3rd party M&A success Third Party M&A Growth Opportunities • With Energy Resources Energy Resources O&M operating NEP assets, O&M Comparison ($/MWh
Slide 36: Acquisitions from Energy Resources provide visibility to growth
Acquisitions from Energy Resources provide clear visibility to continued growth at NextEra Energy Partners Energy Resources’ Renewable Portfolio GW Since NextEra Energy Partners’ IPO(1) ~32 GW - 45 ~10 GW 42 GW 40 35 ~16 GW 30 25 ~12 GW ~6 GW 20 15 ~10 GW 10 5 0 Energy MW Placed in MW Sold since Cur
Slide 37: Well positioned to benefit from wind and solar growth
NextEra Energy Partners is well positioned to benefit from the significant wind and solar growth that is expected over the coming years NextEra Energy Partners & Long-Term Renewables Demand U.S. Renewable Energy Capacity through 2030 U.S. Renewables Penetration ~540 GW ~40% ~15% CAGR ~330 GW in MWh
Slide 38: Balance sheet and financing flexibility
NextEra Energy Partners’ balance sheet and financing flexibility are expected to create a sustainable base for future growth Financial Flexibility • NextEra Energy Partners corporate credit ratings: Convertible PAYGO Tax High-Yield – S&P: BB, stable Equity Equity Debt Portfolio – Moody’s: Ba1, stabl
Slide 39: New Acquisitions
Recently announced transactions further diversify NextEra Energy Partners’ portfolio and enhance its growth runway NextEra Energy Partners – New Acquisitions • Acquisition of ~1,260 MW(1) net interest in long-term contracted renewables and storage portfolio from Energy Resources – Assets are expecte
Slide 40: Convertible equity financings
NextEra Energy Partners’ convertible equity financings allow it to efficiently issue common equity over time Illustrative Equity Issuance for Convertible Financings(1) Percent of 10% 8-10% 5-6% 3-4% 2-3% 2-3% 2-3% 2-3% 1-2% 2-3% 0-1% Public Float(2) $900 ~$850 ~$675 ~$600 $600 ~$500 ~$500 ~$525 ~$47
Slide 41: Adjusted EBITDA and CAFD Expectations
NextEra Energy Partners remains well-positioned to deliver on its long-term growth objectives NextEra Energy Partners Adjusted EBITDA and CAFD Expectations Adjusted EBITDA CAFD 12/31/21 Run Rate(1) $1,440 – $1,620 MM $600 – $680 MM 12/31/22 Run Rate(2) $1,775 – $1,975 MM $675 – $765 MM Unit Distribu
Slide 42: NextEra Energy Partners Value Proposition
NextEra Energy Partners presents a compelling investment opportunity NextEra Energy Partners Value Proposition Drill-down of S&P 1000 Companies & NextEra Energy Partners Total Return Potential 597 Debt / EBITDA < 5x ~3% 15% - 18% 12% - 15% 98 Dividend yield > 2.5% 8 DPS growth > 60% past 5 years 2 ‘
Slide 43: Appendix
Appendix NexTera’ Nexvera energy’ ENERGY & PARTNERS Y) 43 aes
Slide 44: NEXTCra’
NEXTCra’ ENERGY &
Slide 45: No company has done more to reduce carbon emissions
We believe that no company in any industry has done more to reduce carbon emissions and to confront climate change Clean Energy Business Percentage of Adjusted Earnings by Source(1) 73% of Adjusted Earnings from 14% generation is from zero-carbon sources 31% 78% Non- Fossil 31% of Adjusted 18% Sourc
Slide 46: Renewable energy leadership accelerated emissions progress versus peers
NextEra Energy’s renewable energy leadership has further accelerated its emissions progress versus peers Renewable Generation for CO2 Emissions Top 12 Generators by MWh(1) % Rate Reduction(3) TWh 60 70% 50 60% NextEra Energy has increased renewables 50% 40 generation more than six-fold(2) 40% 30 30%
Slide 47: FPL highly reliable, modern and clean generation fleet
FPL is leading the industry with a highly reliable, modern and clean generation fleet FPL(1) Clean Energy Generation • Executing one of the world’s largest solar expansions – More than 3,000 MW of solar on combined system(2) – Leads all utilities in the nation with the most solar capacity(3) – Solar
Slide 48: FPL best-in-class customer value proposition
FPL provides its customers a best-in-class value proposition of low bills, high reliability, clean energy solutions and excellent customer service Supporting Our Customers Low Bills(1) High Reliability(2) Typical 1000 kWh Monthly Bill SAIDI ~131 ~$137 30% ~$94 62% Good Good lower better ~50 National
Slide 49: Diverse and inclusive teams
We are focused on attracting and retaining a diverse, highly skilled team that can drive innovative solutions for the benefit of customers and shareholders Diverse and Inclusive Teams • Diversity and Inclusion (D&I) D&I Metrics – Executive D&I council Women Minorities – Corporate D&I council – Annua
Slide 50: Commitment to safety
Our commitment to safety is a hallmark of our operating culture and a reflection of our focus on execution Commitment to Safety 2.5 2.2 ~82% improvement in safety 2.0 performance since 2003 1.5 OSHA_ Recordable Rate(1) 1.0 0.5 0.4 0.0 2003 2005 2007 2009 2011 2013 2015 2017 2019 2020 1) OSHA Recorda
Slide 51: Supporting local communities
We recognize the importance of building relationships and supporting local communities where we live and work Supporting Our Communities ~$100 B >$1.7 B in capital state and >$19 MM invested local taxes charitable since and fees giving in 2011(1) paid in 2020 2020 ~$75 MM in FPL Office of Tribal ene
Slide 52: Sustainability Governance
Our approach to sustainability engages all levels of the company from the board of directors to our employees Sustainability Governance Board of Directors and Board Committees • Oversight of the execution of our strategy including issues which could impact the long-term sustainability of our company
Slide 53: Governance Highlights
Our track record of delivering strong financial and operational performance begins with sound corporate governance and oversight Governance Highlights Board Composition(1) Governance Best Practices • 11 of 12 directors are independent • Special meeting threshold of 20% • Independent lead director •
Slide 54: NextEra Energy's credit metrics remain on track
NextEra Energy’s credit metrics remain on track Credit Metrics A- Downgrade Actual Target S&P Range Threshold 2020(1) 2021 FFO/Debt 13%-23% 20% 23.0% >20% Debt/EBITDA 3.5x-4.5x 3.6x <4.5x Baa Downgrade Actual Target Moody’s Range Threshold 2020(1) 2021 CFO Pre-WC/Debt 13%-22% 17% 20.1% >17% CFO-Div/
Slide 55: Extended U.S. Federal Tax Credits
U.S. Federal tax incentives for completed renewables projects have been extended into the middle of this decade Extended U.S. Federal Tax Credits Wind Production Solar Investment Tax Credit (PTC) Tax Credit (ITC) Start of Start of Construction COD Wind Construction COD Solar Date Deadline PTC Date D
Slide 56: Reconciliation of EPS to Adjusted EPS
Reconciliation of Earnings Per Share Attributable to NextEra Energy, Inc. to Adjusted Earnings Per Share(1) (2) (2) 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Earnings Per Share Attributable to NextEra Energy, Inc. (assuming dilution) $ 0.58 $ 0.81 $ 0.82 $ 1.02
Slide 57: Definitional information
Definitional information NextEra Energy, Inc. Adjusted Earnings Expectations This presentation refers to adjusted earnings per share expectations. Adjusted earnings expectations exclude the cumulative effect of adopting new accounting standards, the effects of non-qualifying hedges and unrealized ga
Slide 58: Cautionary Statement And Risk Factors That May Affect Future Results
Cautionary Statement And Risk Factors That May Affect Future Results This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, bu
Slide 59: Cautionary Statement And Risk Factors (cont.)
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's risk management tools associated with its hedging and trading procedures to
Slide 60: NextEra Energy Partners
NExTera energy’ PARTNERS La
Slide 61: NextEra Energy Partners' credit metrics remain on track
NextEra Energy Partners’ credit metrics remain on track Credit Metrics BB Downgrade Actual Target (1) S&P Range Threshold 2020(4) YE 2021 FFO/Debt 12% - 20% 14% 17.9% >17% Ba1 Downgrade Actual Target (2) (4) Moody's Range Threshold 2020 YE 2021 Total Consolidated Debt/EBITDA <7.0x >7.0x 3.7x 4.5x -
Slide 62: Debt Amortization Schedule
Debt Amortization Schedule(1,2) Fiscal Year Interest Maturity Total 2021 2022 2023 2024 2025 Thereafter Rate Date NEE Operating Partners LP 4.25% 2024 $ - $ - $ - $ 50 $ - $ - $ 50 NEE Operating Partners LP 4.50% 2027 - - - - - 550 550 NEE Operating Partners LP 0% 2025 - - - - 600 - 600 NEE Operatin
Slide 63: NEP agreed to purchase 50% interest in ~2,520 MW portfolio
NextEra Energy Partners has agreed to purchase a 50% interest in a ~2,520 MW portfolio of utility scale solar and wind projects from Energy Resources for ~$849 MM(1) NextEra Energy Partners Portfolio Additions % to be sold Net Remaining Project Technology Gross MW to NEP MW PPA Years(2) Elora Solar
Slide 64: 2021 CEPF is the lowest-cost convertible equity portfolio financing
The 2021 CEPF is the lowest-cost convertible equity portfolio financing to date Enhanced 10-Year CEPF Structure Commitment One of the largest CEPF Size ~$824 MM equity partnership yet Draw Timing Can occur over multiple years Enhances flexibility and and in partial amounts provides liquidity Pre-Fli
Slide 65: Uses of NEP CEPF Transactions
These transactions have efficiently enabled execution of NEP’s growth plan through accretive acquisitions and opportunistic refinancings Uses of NEP CEPF Transactions(1) TX 2018 1H 2019 Meade Pipelines 2020 2021 1H 2021 2H(3) Gross $750 MM $900 MM $168 MM $750 MM $750 MM(2) ~$500 MM(2) ~$824 MM Proc
Slide 66: Evolution of NEP CEPF Transactions
More recent CEPF deals have provided even more flexibility than the first CEPF in 2018 Evolution of NEP CEPF Transactions(1) 2018 1H 2019 Meade TX Pipelines 2020 2021 Length of 1 year(2) 3.5 years(3) 3 years 4 years 5 years 5 years Buyout (2021 – 2022) (2022 – 2026) (2023 – 2026) (2022 – 2026) (2026
Slide 67: Expected Cash Available for Distribution (2021 Run Rate)
NextEra Energy Partners’ Expected Cash Available for Distribution(1) (December 31, 2021 Run Rate CAFD; $ MM) $1,610-$1,790 ($20-$30) ($140-$150) $1,440-$1,620 ($185-$235) ($590-$670) ($40-$45) ($5-$15) $600-$680 Project-Level Corporate IDR Fees Adjusted Debt Pre-Tax Tax Non-Cash Maintenance Estimate
Slide 68: Expected Cash Available for Distribution (2022 Run Rate)
NextEra Energy Partners’ Expected Cash Available for Distribution(1) (December 31, 2022 Run Rate CAFD; $ MM) $1,975-$2,175 ($25-$35) ($165-$175) $1,775-$1,975 ($270-$330) ($755-$855) ($40-$45) ($5-$15) $675-$765 (2) Project-Level Corporate IDR Fees Adjusted EBITDA Debt Service Pre-Tax Tax Non-Cash M
Slide 69: Definitional information
Definitional information NextEra Energy Partners, LP. Adjusted EBITDA and CAFD Expectations This presentation refers to adjusted EBITDA and CAFD expectations. NEP’s adjusted EBITDA expectations represent projected (a) revenue less (b) fuel expense, less (c) project operating expenses, less (d) corpo
Slide 70: Cautionary Statement And Risk Factors That May Affect Future Results
Cautionary Statement And Risk Factors That May Affect Future Results This presentation contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra
Slide 71: Cautionary Statement And Risk Factors (cont.)
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) NEP may not be able to extend, renew or replace expiring or terminated power purchase agreements (PPA), natural gas transportation agreements or other customer contracts at favorable rates or on a long-term basis; If the en
Slide 72: Cautionary Statement And Risk Factors (cont.)
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) NEP's ability to make distributions to its unitholders depends on the ability of NEP OpCo to make cash distributions to its limited partners; If NEP incurs material tax liabilities, NEP's distributions to its unitholders ma
NextEra Energy — Edison Electric Institute Conference November 2021 on 6ix