XML 73 R38.htm IDEA: XBRL DOCUMENT v3.22.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Planned Capital Expenditures
At December 31, 2021, estimated capital expenditures for 2022 through 2026 were as follows:
20222023202420252026Total
(millions)
FPL:      
Generation:(a)
      
New(b)
$1,825 $1,670 $1,635 $1,210 $995 $7,335 
Existing1,605 1,465 1,220 685 750 5,725 
Transmission and distribution(c)
4,035 3,760 3,870 4,760 5,075 21,500 
Nuclear fuel
155 110 145 145 120 675 
General and other
875 625 715 740 665 3,620 
Total$8,495 $7,630 $7,585 $7,540 $7,605 $38,855 
NEER:(d)
Wind(e)
$2,630 $240 $50 $35 $30 $2,985 
Solar(f)
3,445 1,010 170 25 10 4,660 
Battery storage270 120 — — 5 395 
Nuclear, including nuclear fuel
200 150 200 210 210 970 
Rate-regulated transmission
220 85 55 30 30 420 
Other
440 85 95 60 70 750 
Total$7,205 $1,690 $570 $360 $355 $10,180 
______________________
(a)Includes AFUDC of approximately $75 million, $85 million, $60 million, $50 million and $40 million for 2022 through 2026, respectively.
(b)Includes land, generation structures, transmission interconnection and integration and licensing.
(c)Includes AFUDC of approximately $50 million, $45 million, $40 million, $15 million and $0 million for 2022 through 2026, respectively.
(d)Represents capital expenditures for which applicable internal approvals and also, if required, regulatory approvals have been received.
(e)Consists of capital expenditures for new wind projects, repowering of existing wind projects and related transmission totaling approximately 2,852 MW.
(f)Includes capital expenditures for new solar projects (including solar plus battery storage projects) and related transmission totaling approximately 5,946 MW.
Required Capacity and/or Minimum Payments
The required capacity and/or minimum payments under contracts, including those discussed above at December 31, 2021, were estimated as follows:
20222023202420252026Thereafter
(millions)
FPL(a)
$1,025 $980 $955 $900 $825 $8,570 
NEER(b)(c)(d)
$4,400 $365 $185 $85 $65 $570 
_______________________
(a)Includes approximately $415 million, $410 million, $410 million, $405 million, $400 million and $5,960 million in 2022 through 2026 and thereafter, respectively, of firm commitments related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection, LLC. The charges associated with these agreements are recoverable through the fuel clause and totaled approximately $419 million, $386 million and $316 million for the years ended December 31, 2021, 2020 and 2019, respectively, of which $105 million, $108 million and $108 million, respectively, were eliminated in consolidation at NEE.      
(b)Excludes commitments related to equity contributions and a 20-year natural gas transportation agreement (approximately $70 million per year) with a joint venture, in which NEER has a 31.9% equity investment, that is constructing a natural gas pipeline. These commitments are subject to the completion of construction of the pipeline which has a very low probability of completion. See Note 4 – Nonrecurring Fair Value Measurements.
(c)Includes approximately $370 million of commitments to invest in technology and other investments through 2031. See Note 9 – Other.
(d)Includes approximately $610 million, $20 million, $5 million, $5 million, $0 million and $5 million for 2022 through 2026 and thereafter, respectively, of joint obligations of NEECH and NEER.