NextEra Energy : Q4 2018 Remarks

(1) FOURTH QUARTER & FULL YEAR 2018 EARNINGS CONFERENCE CALL

Matt Roskot:

Thank you, Kathy.

Good morning everyone, and thank you for joining our fourth quarter and full year 2018 combined earnings conference call for NextEra Energy and NextEra Energy Partners.

With me this morning are Jim Robo, Chairman and Chief Executive

Officer of NextEra Energy, John Ketchum, Executive Vice President and

Chief Financial Officer of NextEra Energy, Armando Pimentel, President and Chief Executive Officer of NextEra Energy Resources, and Mark

Hickson, Executive Vice President of NextEra Energy, all of whom are also officers of NextEra Energy Partners, as well as Eric Silagy, President and

Chief Executive Officer of Florida Power & Light Company.

Jim will provide some opening remarks and will then turn the call over to John for a review of our fourth quarter and full year results. Our executive team will then be available to answer your questions.

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SAFE HARBOR STATEMENT AND NON-GAAP FINANCIAL INFORMATION

We will be making forward-looking statements during this call basedon current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially from our forward-lookingstatements if any of our key assumptions are incorrect or because of other factors discussed in today's earnings news release, in the comments made during this conference call, in the risk factors section of the accompanying presentation, or in our latest reports and filings with the Securities and

Exchange Commission, each of which can be found on our websiteswww.NextEraEnergy.comand www.NextEraEnergyPartners.com. We do not undertake any duty to update any forward-looking statements.

Today's presentation also includes references to non-GAAP financial

measures. You should refer to the information contained in the slides

accompanying today's presentation for definitional information and

reconciliations of historical non-GAAP measures to the closest GAAP financial measure.

With that, I will turn the call over to Jim.

Jim Robo:

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OPENING REMARKS

Thank you, Matt, and good morning everyone.

As John will detail later in the call, 2018 was a terrific year for bothNextEra Energy and NextEra Energy Partners. By successfully executing on our plans at both FPL and Energy Resources, NextEra Energy was able to achieve our target 2018 adjusted EPS of $7.70, an increase ofapproximately 15% over our 2017 results. Dating back to 2005, we have now delivered compound annual growth in adjusted EPS of over 8.5%, which is the highest among all top 10 power companies, who have achieved, on average, compound annual growth of roughly 3% over the same period. We delivered a total shareholder return of over 14% in 2018, outperforming the S&P 500 by nearly 19% and the S&P 500 Utilities Index by more than 10%. Since 2005, we have outperformed 86% of the S&P 500 and 100% of the other companies in the S&P 500 Utilities Index while continuing to outperform both indices in terms of total shareholder return on a one-, three-, five-, seven-, and ten-year basis. We were once again honored to be named, for the 12th time in 13 years, number one in the electric and gas utilities industry on Fortune's list of "World's Most Admired

Companies" and to be among the top 25 of Fortune's 2018 "Change the

World" list.

During 2018, FPL successfully executed on its ongoing capital plan, including a continuation of one of the largest solar expansions ever in the

U.S., and achieved its O&M efficiency targets to further improve its already best in class customer value proposition. As a result of continued smart

investments to benefit our customers, FPL's typical residential bill is more

than 30% below the national average, the lowest of all 54 electric providersin the state of Florida and nearly 10% below the level it was in 2006. In addition to low bills, FPL delivered its best-ever service reliability performance in 2018, and was recognized for the third time in four years as being the most reliable electric utility in the nation. Throughout the year, we were fortunate to be in a position to assist other utilities across the country in their recovery from natural disasters and we remain grateful for the support that others have given us over the years.

After a nearly 10 year process, last month FPL closed on the

purchase of the City of Vero Beach's municipal electric system. We look forward to extending FPL's value proposition to Vero Beach's

approximately 35,000 customers while also generating significant long-term

savings for FPL's existing customers. The benefit to both new and existing customers is reflective of FPL's collaborative efforts with city, local, and

regional leaders, as well as other state authorities to find the best outcome for all stakeholders.

Earlier this month, we were pleased to close on the purchase of Gulf

Power and are excited to welcome our new colleagues to the NextEra

Energy family. We have now successfully completed all three transactions with Southern Company that we announced in the middle of last year. The acquisitions are an excellent complement to our existing operations andfurther expand NextEra Energy's regulated business mix through the addition of attractive electric and natural gas franchises. By executing on the same long-term strategy that we have deployed at FPL, we expect the acquisitions to benefit customers, shareholders and the Florida economy.

The Energy Resources team also continued its long track record of strong execution in 2018. The renewables origination success was particularly strong, as the team added approximately 6,500 megawatts, including storage and repowering, to our backlog over the past year. This represents the most successful origination year in our history and is nearly twice as many megawatts as we originated in 2017, our prior record year.

Our ongoing renewables origination success results from operating in what we believe to be the best renewables development environment in our

history and our ability to leverage Energy Resources' competitive

advantages. These competitive advantages include our best-in-class development skills, strong customer relationships, purchasing power, best-in-class construction expertise, resource assessment capabilities, strong access to and cost of capital advantages, and the ability to combine wind, solar and battery storage into integrated, nearly firm, low-cost products.

During the year, we were pleased to receive the IRS start of construction guidance on the solar ITC which we believe positions us well