It begs the question of who the PSC serves is it Floridians or is it utility companies?. About Nextera Energy As one of America's largest capital investors in infrastructure, with between $50 and $55 billion in new infrastructure investments planned through 2022, we're helping ensure that the next energy to power our dreams will be American energy. If NextEra is to be the model of a sustainable energy giant, it must shed its brown assets. JUNO BEACH, Fla. - FPL Group, Inc. (NYSE:FPL) today announced a settlement, subject to court approval, of derivative litigation filed by certain shareholders in the name of the company regarding change-of-control payments made in December 2000 in conjunction with the proposed Entergy merger that was approved by shareholders but not consummated.. NextEra Energy is on the receiving end of a proposed class action lawsuit in which a Nebraska homeowner alleges the electricity provider's wind turbines placed near residential communities are a "nuisance" and effectively deprive homeowners of the use and enjoyment of their property. They may have to wait until prosecutors investigate for answers, but Artiles history and ties to Florida utilities may provide some clues. So, thats probably all that were going to say on that today.. This story was originally published January 27, 2022, 6:00 AM. Almost immediately, FPL reached out to the CEO of Matrix, LLC a political consulting firm. FPL CEO Eric Silagy appears to have personally directed money to the web of dark money groups, with records showing correspondence from Silagy to the consultants directly. I also saw how opponents of renewable energy development rarely miss an opportunity to sow distrust in the developer, with talk of how wind or solar would be an eyesore and potentially harm property values. The legislators responded on Jan. 10, saying they considered the commissions review incomplete given the news stories. Shares of NextEra sank late last month by nearly 9%, their biggest daily drop in more than two years, after the company abruptly announced Silagy would retire under the threat of a formal investigation by the Federal Election Commission into the companys political giving. They probably chose him to be a steady the ship-type figure, said Jack Dearing, an analyst withWashington-based Capstone LLC, which advises investors and companies on policy issues. NEW YORK (Reuters) - The new head of Florida Power & Light (FP&L) has at least one important objective above and beyond running U.S. power giant NextEra's crown jewel utility, analysts say: stay out of the headlines. Learn More 2022 ESG Report TOP 20 in the world for innovation, according to Fortune 10 Takeaways from the IEA's Newest World Energy Outlook. Operator: Good morning, and welcome to the NextEra Energy and NextEra Energy Partners Fourth Quarter 2022 Earnings Call. Earlier this month, the reporting by the Orlando Sentinel, Florida Times-Union, and the Miami Herald, prompted four Democratic lawmakers to ask state regulators to conduct an audit of FPL, the largest utility company in the nation and a monopoly regulated by the Florida Public Service Commission. I wonder if NextEras problems in Florida may eventually affect the perception of the company in other places. On Tuesday, it became clear that Wall Street had noticed the stories. History of Power: Dominion Energy's Fluid Transition. For example, Richard Alexander, who lives in Cullman, Ala., and not only chairs Grow United, he also has been tied to groups that were created to promote the agenda of Floridas powerful sugar and electric utilities industries, according to the Orlando Sentinel. He grew up in Warren County, Iowa, just south of Des Moines, and lives in Columbus, Ohio. Write CSS OR LESS and hit save. Artiles accepted over $30,000 in political contributions from Florida utilities throughout his time in office, including $6,000 from NextEra, $4,500 from TECO, and $4,000 from Duke Energy in direct contributions. Pimentel replaces outgoing FP&L CEO Eric Silagy, who joined NextEra roughly two decades ago, worked as a top lobbyist for the company and has been at the center of some of its publicity problems. Republican state legislators Sen. Jennifer Bradley and Rep. Lawrence McClure have filed identical legislation in the Senate and House that would end the states current net metering policy, which determines the credit that FPL and other utilities must pay to solar customers for excess solar energy that they generate and sell back to the grid. Kirk Crews, CFO, NextEra Energy NEE -0.6%. But it will be take more than a change of guard for the utility to shake off the scandals that took place under Silagy, said Schafer. Artiles checkered past culminated with his resignation from office in 2017 after facing pressure over multiple scandals, including alcohol-fueled racial slurs directed at black members of the Florida Legislature. FPL has for decades spent millions on lobbying and election influence at every level of politics in Florida, giving it and its parent company, NextEra Energy, immense influence over the states politicians. FPL has said it was not fully aware of what its consultant was doing, and it has cast doubt on some of the reporting. Canopy was started by former Matrix employees, led by Jeff Pitts. So, thats probably all that were going to say on that today.. Alabama political firm and former NextEra consultant Matrix LLC, led by Joe Perkins, sued Canopy LLC, another firm allegedly working with NextEra. The second group, Mothers for Moderation, a DC-based 501(c)(4) dark-money group with over $15 million in revenue, states that its mission is to advocate for policies that benefit women, according to its 2018 IRS filings. Want more of our free, weekly newslettersinyourinbox? That's a tax rate of just 1.25 percent over that period, when the . He said that federal rules prohibit the PSC from including political expenses in the rate base and the company did not include these expenses as part of their supporting documentation and concluded that rates are not based upon costs for such prohibited purposes., Baez also defended the PSCs use of sampling as a means of auditing FPLs expenses saying it is common in all disciplines that use large amounts of data.. A team of ICN reporters led by Marianne Lavelle examined the bill and spoke with outside experts to get an idea of its implications. This decision flew somewhat under the radar, unlike the situation at Florida Power & Light. Watchdog exposing the attacks on renewable energy and countering misinformation by fossil fuel interests, Artiles close relationship with NextEra Energy and Florida Power & Light included NASCAR perks, campaign contributions. as reported by the Energy and Policy Institute. The races for Senate District 9 and 39 followed the same pattern. Who will build the $6 billion road and bridge projects underway in Tampa Bay? Their power over utilities in Florida was challenged by legislation proposed by the Democratic Senator of Florida, Jos Javier Rodrguez, in 2019. They remained that way until they took a stake in early wind farms in exchange for canceling the debts owed to them. We deliver climate news to your inbox like nobody else. The numbers really are very, very clear here, said Anand Gopal, executive director of strategy and policy for the think tank Energy Innovation. Through skillful manipulation of the credits, NextEra from 2005 to 2009 'paid just $88 million in taxes on earnings of nearly $7 billion,' Business Week reports. "I don't think you're going to see any headlines like that (with Pimentel).". This reporting has raised significant questions around the potential of ratepayer funds being used to not only influence elections but to undermine democracy through fake candidate schemes, astroturfing, and attempted bribes wrote state Reps. Anna Eskamani, Carlos Guillermo Smith, Angie Nixon and Travaris McCurdy. Enforcement for funneling money through a partisan political committee to a ghost candidatescheme that has already resulted in felony charges against five political operatives. FPLs relationship with two political nonprofit committees Grow United and Lets Preserve the American Dream has come under recent scrutiny as part of a criminal investigation by the Miami-Dade County state attorney into a ghost candidate scandal. Life expectancy in the U.S. fell during the same period that a Reagan-era law raised the retirement age by two years. Description. Consultants who control Grow United billed FPL for over $3 million before the entity started moving funds around for the election scheme. Pimentel was CEO of NextEra Energy Resources, the company's unregulated arm focused on renewable power, for eight years before retiring in 2019. Simpson, a longtime beneficiary of FPL political giving, may have spent NextEra-originatedfunds, with FPL knowledge, to pay off individuals with knowledge of his illegitimate child inwhat was reportedly known internally as Operation Ginger. The goal of these efforts appearto be to prevent the public from learning about the Senate Presidents indiscretions prior to hisascension to the top position in the state Legislature. On Wednesday, FPL spokesperson Chris McGrath denied that FPL was involved in the ghost candidate scheme. Canopy was started by former Matrix employees, led by Jeff Pitts. See here for a complete list of exchanges and delays. Canopy quickly filed its own lawsuit against Matrix. The biggest user of the tax credit is Florida-based NextEra Energy, the nation's eighth-largest power producer. History of Power: Duke Energy's Century-Old Legacy. NextEra's renewable arm, NextEra Energy Resources, had about 5,000 employees by the end of 2019, not counting construction jobs for new projectsinformation the company doesn't disclose . A day later, PSC Chairman Andrew Fay responded with an unequivocal rejection of their request, saying that the PSC has a long-standing prohibition on the inclusion of lobbying and other expenses, which have been determined to bring no benefit to ratepayers, among the expenses to be recovered through rates charged to the public for service., Fay added that when FPL filed its rate request, the appropriate auditing function was conducted during the commissions consideration of the most recent FPL rate case, and the audit produced no evidence that FPL used, or was intending to use, ratepayer funds for the private benefit of the companys lobbying, campaigning or marketing affairs.. The shady business practices of FPL, as well as the discrepancy between NextEra being a catalyst in the clean energy movement while FPL relies on fossil fuels, may not bode well. Consumers for Energy Fairness own expenditures have gone to Republican candidates and Republican-affiliated PACs that have also received funding from the states utilities, like Jobs for Florida and Floridians for Economic Freedom. Get a daily email of our original, groundbreaking stories written by our national network of award-winning reporters. Broken Promises is one of only two groups that has contributed money to a Florida political committee called Consumers for Energy Fairness. The retirement and subsequent. Go to the kitchen tables of America. The Orlando Sentinel connected Republican consultant Alex Alvarado, Jobs for Florida and Floridians for Economic Freedom, attack on rooftop solar in 2020, via Florida Representative Lawrence McClure, NextEra, Florida utilities closely aligned with election fraud suspect Frank Artiles DangerousWombatDream, NextEra, Florida utilities closely aligned with election fraud suspect Frank Artiles shoukhin vlog, Records Show Senior Florida Power & Light Execs Closely Connected to Election Scandals - Energy and Policy Institute, Louisiana Democratic Party Funneled Utility Donations to Climate Candidate Challenger - DeSmog, Louisiana Democratic Party Funneled Utility Donations to Climate Candidate Challenger | Climate Change, Louisiana Democratic Party funneled utility donations to climate candidate's - Tools for Investors | News, Louisiana Democratic Party Funneled Utility Donations to Climate Candidate Challenger CommunistNews.net, Louisiana Democratic Party funneled utility donations to climate candidate challenger - Verite, Michigan utilities front groups begin misleading ad campaigns ahead of a vote on energy legislation. If you havent already subscribed, please consider buying a print or digital subscription. Simply put, the PSC is charged with ensuring that the rates charged to customers by a utility are fair, just and reasonable, and that those rates are set at levels sufficient to recover only the prudently incurred costs to provide service, Baez wrote. NextEra Energy announces agreement to sell a 50% interest in an approximately 2,520-megawatt portfolio renewables project to a third party, highlighting the value of its best-in-class development program. In 2017, Perry voted in support of NextEras exploratory fracking legislation while serving on the Communications, Energy and Public Utilities Committee chaired by Artiles. The settlement is the end result of a . FPL this year announced a plan it calls Real Zero to completely eliminate carbon emissions from its operations by 2045. An early adopter of renewable power generation, NextEra is the third-largest U.S. energy company by market capitalization behind Exxon Mobil (XOM.N) and Chevron (CVX.N). When asked by a Bank of AmericaSecurities analyst on a recent earnings call, NextEra CEO James Robo explained that he orderedFPL CEO Eric Silagy to turn over emails and other written communication, primarily focused onFLs work with two political committees: Grow United and Lets Preserve the AmericanDream, both tied to Simpson. Where the scorpions on the corner just might kill you. In this first story in a series, I look at how the plan has divided the community and strained relationships between longtime friends and neighbors. It was also announced that Silagy, the president and CEO of FPL, will take on the added responsibility of chairman of FPL. 11/30/2021. The reporting also found that the same FPL consultants have been involved in setting up front groups to advance FPLs political agenda, and paid activists to promote FPLs interests. Florida Power & Light Co - FLPTL.PK - DELISTED, Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Oil slips as rising supplies balance Chinese demand hopes, Reporting by Laila Kearney; Editing by Josie Kao, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, Greta Thunberg detained by Norway police during pro-Sami protest, Western US cities vote to move ahead with novel nuclear power plant, Chevron CEO does not rule out consolidation among oil majors, How Elon Musk has missed his targets on delivering affordable cars, Dollar Tree sees weak 2023 profit as costs mount, shoppers curb spending, Tesla's new Mexico plant could create up to 6,000 jobs - foreign ministry official, Exclusive news, data and analytics for financial market professionals. The no-party candidate, Alexis Alex Rodriguez, who did not campaign, received more than 6,000 votes. racial slurs directed at black members of the Florida Legislature. A look at the changing global population. Mexican developer wants to build condos on the land starting at $3 million apiece. The Miami Herald and others reported claims that company executives worked with a consultant to derail certain state senate candidates and surveil a journalist who wrote critically about the regulated utility. Court documents obtained by the Miami Herald, as part of the state attorneys investigation, have shown that as part of the ghost candidate scheme Lets Preserve the American Dream paid former state Sen. Frank Artiles $125,000 for research and paid Grow United $1.15 million. Despite climate action often being frustrated by Republican leaders in Congress and at the local level, states with Republican governors and a majority of Republican state legislators are leading the nation in solar and wind. In the 2020 cycle alone, the Florida Republican Senate Campaign Committee (FRSCC) reported over $7 million dollars in expenditures to Data Targeting, for services including research, polling, advertising, campaign staff, and line items only reported as consulting. Nearly $183,000 of FRSCCs spending with Data Targeting was earmarked for the Senate District 37 race, the same race that led to Artiles arrest. Recent revelations about Florida Power & Lights involvement in a dark money scheme to siphon votes away from Senate Democratic candidates prompted its parent company to conduct an internal investigation, NextEra announced at an earnings call on Tuesday. Alvarados firm, Alvarado Strategies, was paid by three political committees with connections to Associated Industries of Florida (AIF), a corporate interest group with strong utility ties. A former NextEra colleague of Pimentel's, who spoke on the condition of anonymity, said Pimentel was a "straightforward, fact-based and driven" coworker with a calm temperament. NextEra Energy is the largest generator of renewable energy in the United States and possibly the world. I reported this story with Tracy Wholf, coordinating climate producer for ABC News, and we also worked together on a special episode of ABCs podcast Start Here that delves into the nuanced concerns on both sides of the conflict. I dont think youre going to see any headlines like that (with Pimentel). Pimentel was CEO of NextEra Energy Resources, the companys unregulated arm focused on renewable power, for eight years before retiring in 2019. The other candidate later revealed that he had been bribed to run. We can do so much more on student loan forgiveness. We got into this program and its not helping like its supposed to, said Quintin Nelms, who has faced a long wait for his rebate. But the company is limited in what it can do to defend itself because of reams of evidence, in leaked emails and texts, showing that company executives were aware of at least some of what was happening. The proposed bill would allow landlords to sell cheap solar panels to their tenants. The Florida Legislative Session begins January 11, 2022. His coverage deals with the business side of the clean-energy transition and he writes ICNs Inside Clean Energy newsletter. FPLs consultants used similar spoiler candidate tactics in the 2020 election cycle in three senate races throughout the state. Unlike other companies that actively work toward creating clean energy, NextEra stumbled into the renewable energy industry somewhat unintentionally. $5,000 from investor-owned utilities went to the campaign account directly: $1,000 from NextEra, $2,000 from Duke, and $2,000 from TECO. Licensed under a Creative Commons Attribution 3.0 License by Energy and Policy Institute. When asked if their companys money was used either for the third party candidates campaign or in payment to Artiles directly, Neil Nissan, a spokesperson for Duke Energy, stated that it was not. Shares of NextEra sank late last month by nearly 9%, their biggest daily drop in more than two years, after the company abruptly announced Silagy would retire under the threat of a formal. Other utilities have tried similar strategies, but none have done it on the scale of NextEra. Earlier this month, the reporting by the Orlando Sentinel, Florida Times-Union, and the Miami Herald prompted four Democratic lawmakers to ask state regulators to conduct an audit of FPL, the largest utility company in the nation and a monopoly regulated by the Florida Public Service Commission. Sources explain that inthe scheme, Senate President Wilton Simpson, a Republican endorsed by both PresidentDonald Trump and Governor Ron DeSantis, received FL contributions through the FloridaRepublican Senatorial Campaign Committee (FRSCC). News images are from video content on CNNs YouTube Channel. (Rooftop solar systems generally last for 25 years or longer.) Bainter was also heavily involved in Perrys campaign and was suspected by some observers to have orchestrated the funding behind Gostons third-party candidacy, which may have included funds connected to a utility front group. Shares of NextEra sank late last month by nearly 9%, their biggest daily drop in more than two years, after the company abruptly announced Silagy would retire under the threat of a formal investigation by the Federal Election Commission into the company's political giving. To their tenants when the: Duke Energy & # x27 ; s Transition. 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