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Florida Power & Light earnings up in first quarter

By on April 25, 2012

Florida Power & Light and its parent company Wednesday reported increased earnings during the first quarter of 2012 and touted investments in new power plants, reports the News Service of Florida.

FPL had net income of $239 million, or 58 cents a share, compared with $205 million, or 49 cents a share, during the same period in 2011, according to a company news release. The parent firm, NextEra Energy Inc., had net income of $461 million, or $1.11 a share, compared with $268 million, or 64 cents a share, during the first three months of 2011. In announcing the earnings, Juno Beach-based NextEra pointed to major projects that FPL has undertaken and to a base-rate case pending at the Florida Public Service Commission. The projects include a new natural-gas plant at Cape Canaveral in Brevard County that is scheduled to start operating in 2013 and a plan to build a new plant at Port Everglades in Broward County.

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