CEO Armando Olivera Outlines FPL's Commitment to Economic Development and Clean, Affordable Energy

In a keynote speech to hundreds of business leaders at the Greater Miami Chamber of Commerce, Florida Power & Light Co. Chief Executive Officer Armando Olivera described how FPL is promoting business and job creation in the state by offering some of the most affordable and reliable energy in the nation and a new rate program to encourage economic development.

The average FPL residential customer has a bill that is the lowest among Florida’s 55 electric utilities, and about 25 percent lower than the national average, said Olivera. “In fact, over the course of an entire year, our typical customer saves an average of $357 compared to what they would pay in other parts of Florida. FPL’s business customers also have electric bills that are among the lowest in the state and well below the national average.”

The FPL chief executive told the audience at the Chamber’s Trustee Luncheon how his company is building on its commitment to help Florida businesses by offering an “Economic Development Rate.” With the approval of the state’s Public Service Commission, eligible commercial and industrial businesses can now receive reduced utility rates. The rate is available to new or expanding businesses that add at least 350 kilowatts of new demand on the grid and 10 new jobs per 350 kilowatts. According to Olivera, this economic growth initiative means an additional savings of up to $12,000 for the first year for a typical eligible customer

He told members FPL’s work on economic growth extends to the creation of its new Office of Economic Development, which offers a suite of professional services intended to assist businesses with planning, energy efficiency initiatives, and more. Information about the office is available at http://www.poweringflorida.com.

Olivera noted that the Chamber, like Miami itself, has evolved and grown dramatically over the course of its long history. “Forty years ago the population of Miami-Dade County was a little more than 1.2 million people; today, it has more than doubled to nearly 2.5 million,” Olivera told the Chamber members. “And just like the County and its economy, the Chamber has grown - and diversified.”

In the same 40 years, FPL has evolved as well, he said, and the audience was treated to highlights of the company’s pioneering role in the transformation of the energy industry. Vintage photography served as a backdrop to Olivera’s brief historical review. He explained that decades ago, Miami-Dade’s electrical power was generated primarily by burning fuel in a conventional boiler. Since that time, FPL has led the way in implementing new technologies for power generation that are designed to increase efficiency and save money for customers.

“We built Turkey Point, our state’s first nuclear power plant, in 1972, and we were one of the first utilities in the nation to build a power plant using a combustion turbine,” said Olivera. “We were also one of the first to build a combined-cycle power plant.” He told Chamber members that FPL’s focus on efficiency means lower bills for customers, and strides forward for the environment.

As further examples of the company’s focus on efficiency, the FPL chief executive discussed new power plant construction and new technology development. He pointed to Florida’s newest combined-cycle natural gas power plant - FPL’s West County Energy Center -which achieves a 50 percent increase in fuel efficiency compared to conventional boilers. Olivera also reviewed FPL’s Fleet Performance and Diagnostic Center, an industry-leading resource that continuously monitors more than one million data points in the company’s system, locating inefficiencies and potential operational problems.

FPL’s technology advances are paying big dividends for customers, according to Olivera. “The future of affordable and reliable energy in our service area is being built as we speak,” he said.

Before leaving, Olivera had one final message for the Greater Miami Chamber of Commerce - a message of thanks: “When I am at a Chamber event, I am not only spending time with leaders of the community, but also with great customers - and friends.”

About Florida Power & Light Company
Florida Power & Light Company is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves 4.5 million customer accounts in Florida and is a leading employer in the state with approximately 10,000 employees. The company consistently outperforms national averages for service reliability while customer bills are below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla. - based NextEra Energy, Inc. (NYSE: NEE). For more information, visit http://www.FPL.com.

Media Contact:
FPL Media Line
Florida Power & Light Company
700 Universe Blvd.
Juno Beach, FL 33408
305-552-3888