NEENextEra Energy, Inc.

“Roughly 30% of our backlog additions are driven by hyperscalers while the remaining 70% comes from power utility customers, including cooperatives and municipalities.”

“In the first quarter, we brought to market our first Rewire products. For example, Conduit is an AI-powered tool designed to upskill our already best-in-class renewables workforce, increasing their efficiency in the field and keeping our power plants up and running. Another product called Generation Entitlement proactively identifies abnormal equipment conditions, enabling teams to take early action and optimize power plant performance across the fleet. And a product called Grid Composer uses AI to optimize and orchestrate all aspects of the power generation process. It brings real-time recommendations into one place to enable faster more informed decisions around unit commitment, power and fuel dispatch and maintenance scheduling.”

“We now have 4 origination channels feeding into our base case goal of securing 15 gigawatts of new generation to serve large load by 2035. These 4 origination channels can also help us achieve our upside case of 30 gigawatts or more by 2035. We are working hard to meet this goal with all forms of energy, approximately 50% from gas-fired generation and the remainder from all other forms of energy.”

“Our second channel is working with investor-owned utilities. A perfect example is the joint development agreement, which we signed with Excel earlier this week to jointly plan and rapidly deploy new generation, storage and transmission to capture accelerating data center demand across Excel's 8 state service territory.”

“We are also off to a terrific start executing against our data center hub strategy, which is built on the power of scale. Scale shortens development pipelines reduces execution risk and keeps costs low as we build the infrastructure needed to meet data center power demand.”

“So far, we have about 21 gigawatts of large load interest at FPL. Of that, we are in advanced discussions on about 12 gigawatts, a portion of which we believe we could begin serving as soon as 2028.”

“A great example is our collaboration with Google to recommission our Glenora nuclear plant outside Cedar Rapids, Iowa.”

“And I talked about our NVIDIA collaboration being able to flex chips in terms of how they consume and use power. And given all the software we've developed around dispatchability of batteries, we're uniquely positioned to design a product. And if you combine it with our customer supply business to firm and shape products are in scarcity intervals, hot summer day, cold winter day, where a data center can be dispatched like a battery and think about what that does for affordability for customers in the region when you're providing that excess supply that really helps to take a big hit out of the bill for everyday Americans that may struggle to pay those during the scarcity times that we have seen over the last 5, 10 years in this industry. So something we're very focused on, something hyperscalers are very interested in. And I think it's unique for NextEra because we have all the expertise around technology, our partnership with Google being a part of that.”

“We're doing this through our new Rewire initiative and a partnership with Google Cloud. Rewire is a company-wide initiative to reimagine how we work and how we do business paired with an enterprise-wide AI transformation that we expect to unlock top line growth and cost savings opportunities for our customers. At the same time, Rewire is serving as our AI product development platform. We believe the new AI tools and solutions that we build will not only redefine how we do business and create competitive advantage, but will also help transform how our industry generates and delivers electricity and serves customers. Partnering with Google, we are delivering these products to the utility industry to unlock savings for American homes and businesses.”

“Importantly, we believe these tools have the potential to drive significant savings for customers. FPL's bill today is already approximately 30% below the national average. One of the reasons that's possible is because of our relentless focus on technology and driving costs out of the business. FPL's nonfuel O&M is more than 71% lower than the industry average. In fact, we're 50% more cost efficient than the second best utility in America. We believe our Rewire products reinforce our position as the lowest cost electric utility operator in the country.”

“It's exactly what we're working on with NVIDIA a collaboration we announced in the first quarter. Just think about being able to temporarily cycle down or shift data center activity for a few hours during extreme cold or extreme heat. That would allow local load serving entities to use that power to meet customer demand when power is scarce and at a higher cost, increasing reliability and lowering power bills for everyday Americans.”

“we are working closely with OEMs and with hyperscalers. As you know, we have our national collaboration with Google, for example, around advanced nuclear we're looking together with Google where that might make the most sense.”