According to the 2016 Annual Report, NextEra Energy Inc. (NEE) is one of the largest clean energy companies, with consolidated revenues of approximately $16.2 billion, approximately 45,900 megawatts of generating capacity and approximately 14,700 employees in 30 states and Canada as of year-end 2016. Through its subsidiary NextEra Energy Resources, LLC (NEER), is the largest generator of renewable energy from the wind and sun in the world, based on 2016 MWh produced.
NextEra Energy generates clean, emission-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin.
NextEra Energy has two principal businesses, FPL and NEER.
FPL is the largest electric utility in Florida engaged primarily in the generation, transmission, distribution and sale of electric energy and the largest electric utility in the U.S. based on retail MWh sales. In 2016 FPL owned and operated 33 units that used fossil fuels, primarily natural gas, and had joint ownership interests in 3 coal units with an aggregate generating capacity of 22,305 MW. In addition, FPL owned and operated 4 nuclear units with a generating capacity totaling 3,453 MWand 5 solar generation facilities with generating capacity totalling 259 MW.
NEER is a diversified clean energy company engaged in the development, acquisition and operation of long-term contracted assets with a focus on renewable projects, primarily in the U.S.(18,862 MW of generating capacity) as well as in Canada (920 MW) and Spain (99.8 MW). NEER produces the majority of its electricity from clean and renewable sources, is the largest generator in the world of electric power from wind and universal solar energy projects based on 2016 MWh produced.
According to the Annual Report 2016 the NEE's operating revenues derived from the sale of electricity represented approximately 90%, 92% and 91% of NEE's operating revenues for the three years ending December 31, 2016 which amounted to $16,155 million, $17,486 million and $17,021 million, in 2016, 2015 and 2014, respectively, representing a decrease of $1,331 million or 7.6% in 2016, and an increase of $465 million or 2.7% in 2015.
The net income attributable to NEE for 2016 was $2.91 billion, compared to $2.75 billion in 2015 and $2.47 billion in 2014. Such an increase of 5.8% or $160 million or $0.19 per share in 2016 was achieved by higher results in NEE´s main business segments FPL, NEER and Corporate.
FPL's increase in net income in 2016 was primarily driven by investments in plant in service while earning an 11.50% ROE on its retail rate base. NEER's results increased in 2016 primarily due to earnings from new investments and gains from the sales of natural gas generation.
FPL obtains its operating revenues primarily from the sale of electricity to retail customers. The net income attributable for FPL was $1,727 million, $1,648 million and $1,517 million in 2016, 2015 and 2014, respectively, representing an increase of $79 million or 4.8% in 2016, and an increase of $131 million or 8.6% in 2015.
The net income attributable for NEER was $1,125 million, $1,092 million and $989 million in 2016, 2015 and 2014, respectively, representing an increase of $33 million or 3% in 2016, and $103 million or 10.4% in 2015.
On December 31, 2016, NEER had approximately $3.5 billion invested in natural gas pipelines and investments made in oil and gas shale formations located primarily in the Midwest and South regions of the U.S.
NEE's goodwill amounts $780 million at the end of 2016, which remains unchanged compared to 2015. The goodwill arising from the acquisition consists largely of growth opportunities from the Texas pipeline business.