XML 69 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2012
Commitments and Contingencies [Abstract]  
Schedule of Planned Capital Expenditures
At September 30, 2012, estimated capital expenditures for the remainder of 2012 through 2016 were as follows:

 
Remainder of 2012
 
2013
 
2014
 
2015
 
2016
 
Total
 
(millions)
FPL:
 
 
 
 
 
 
 
 
 
 
 
Generation:(a)
 
 
 
 
 
 
 
 
 
 
 
New(b)(c)
$
500

 
$
770

 
$
770

 
$
295

 
$
120

 
$
2,455

Existing
190

 
645

 
655

 
550

 
440

 
2,480

Transmission and distribution
215

 
690

 
690

 
660

 
705

 
2,960

Nuclear fuel
70

 
125

 
205

 
245

 
245

 
890

General and other
45

 
190

 
120

 
80

 
85

 
520

Total
$
1,020

 
$
2,420

 
$
2,440

 
$
1,830

 
$
1,595

 
$
9,305

NEER:
 

 
 

 
 

 
 

 
 

 
 

Wind(d)
$
740

 
$
285

 
$
25

 
$
5

 
$
5

 
$
1,060

Solar(e)
390

 
670

 
160

 
5

 
—

 
1,225

Nuclear(f)
95

 
315

 
280

 
285

 
325

 
1,300

Other(g)
85

 
200

 
120

 
135

 
60

 
600

Total
$
1,310

 
$
1,470

 
$
585

 
$
430

 
$
390

 
$
4,185

Corporate and Other(h)
$
115

 
$
115

 
$
45

 
$
45

 
$
45

 
$
365

————————————
(a)
Includes allowance for funds used during construction (AFUDC) of approximately $24 million, $82 million, $53 million, $48 million and $27 million in 2012 to 2016, respectively.
(b)
Includes land, generating structures, transmission interconnection and integration and licensing.
(c)
Consists of projects that have received FPSC approval.  Includes pre-construction costs and carrying charges (equal to a pretax AFUDC rate) on construction costs recoverable through the capacity clause of approximately $24 million, $42 million and $12 million in 2012 to 2014, respectively.  Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.  
(d)
Consists of capital expenditures for planned new wind projects and related transmission totaling approximately 1,500 mw, including approximately 150 mw in Canada, that have received applicable internal approvals.  Excludes new Canadian wind projects requiring internal approvals with generation totaling approximately 470 mw in 2014 and 2015, with an estimated cost of approximately $1.3 billion to $1.5 billion.
(e)
Consists of capital expenditures for planned new solar projects and related transmission totaling 625 mw that have received applicable internal approvals, including equity contributions associated with a 50% equity method investment in a 550 mw solar project.  Excludes solar projects requiring internal approvals with generation totaling 270 mw with an estimated cost of approximately $600 million to $800 million.
(f)
Includes nuclear fuel.
(g)
Consists of capital expenditures that have received applicable internal approvals. 
(h)
Consists of capital expenditures that have received applicable internal approvals and includes AFUDC of approximately $9 million and $14 million in 2012 and 2013, respectively.
Required capacity and/or minimum payments under contracts

The required capacity and/or minimum payments under the contracts discussed above as of September 30, 2012 were estimated as follows:

 
Remainder of 2012
 
2013
 
2014
 
2015
 
2016
 
Thereafter
 
(millions)
FPL:
 
 
 
 
 
 
 
 
 
 
 
Capacity charges:(a)
 
 
 
 
 
 
 
 
 
 
 
Qualifying facilities
$
75

 
$
270

 
$
275

 
$
280

 
$
245

 
$
2,415

JEA and Southern subsidiaries
$
60

 
$
230

 
$
220

 
$
195

 
$
70

 
$
155

Minimum charges, at projected prices:
 

 
 

 
 

 
 

 
 

 
 

Natural gas, including transportation and storage(b)
$
495

 
$
1,580

 
$
1,065

 
$
570

 
$
535

 
$
6,935

Coal(b)
$
25

 
$
90

 
$
35

 
$
5

 
$
5

 
$
—

NEER
$
610

 
$
690

 
$
235

 
$
85

 
$
105

 
$
600

Corporate and Other(c)
$
65

 
$
30

 
$
10

 
$
15

 
$
15

 
$
20

————————————
(a)
Capacity charges under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately $129 million and $128 million for the three months ended September 30, 2012 and 2011, respectively, and approximately $391 million and $383 million for the nine months ended September 30, 2012 and 2011, respectively. Energy charges under these contracts, which are recoverable through the fuel clause, totaled approximately $110 million and $135 million for the three months ended September 30, 2012 and 2011, respectively, and approximately $232 million and $348 million for the nine months ended September 30, 2012 and 2011, respectively.
(b)
Recoverable through the fuel clause.
(c)
Includes an approximately $68 million commitment to invest in clean power and technology businesses through 2017.