Key Stats
Revenue (2024): $24.75 billion
Market Cap: $148 billion (as of September 2025)
Employees: 16,800 worldwide
Headquarters: Juno Beach, Florida, USA
Generating Capacity: 73 gigawatts
NextEra Energy stands as the largest electric utility holding company in the world by market capitalization. The company operates through two primary subsidiaries: Florida Power and Light (FPL) and NextEra Energy Resources (NEER).
FPL serves approximately 12 million people across Florida and ranks as the third-largest electric utility in the United States. NEER operates as the world’s largest generator of renewable energy from wind and solar sources. The company also maintains nuclear, natural gas, and oil-powered generation facilities.
NextEra Energy traces its roots to 1925 when Florida Power and Light Company formed from a consolidation of small utilities. The company rebranded from FPL Group to NextEra Energy in 2010 to reflect its expansion beyond Florida and commitment to clean energy.
NextEra Energy History
1925
Florida Power and Light Company formed on December 28 through consolidation of small electric plants, ice factories, gas companies, and other utilities across Florida.
1944
Admiral W.R. Munroe presented FPL with a Citation for Meritorious Wartime Service for powering military installations and defense industries during World War II.
1972
FPL brought Turkey Point Unit 3 nuclear plant online, marking the company’s entry into nuclear power generation. Unit 4 followed in 1973.
1984
FPL Group Inc. formed as a holding company to enable expansion through acquisitions and new company creation beyond regulated utility operations.
1998
FPL Energy established to manage electricity operations outside Florida. The company began building wind farms and became a clean energy leader.
2010
FPL Group rebranded as NextEra Energy to reflect nationwide expansion and commitment to renewable energy. FPL Energy became NextEra Energy Resources.
2019
NextEra Energy completed its $5.75 billion acquisition of Gulf Power from Southern Company, expanding service to northwest Florida.
2025
NextEra Energy announced partnership with Google Cloud to develop 15 gigawatts of new power generation by 2035 to support data center operations across the United States.
NextEra Energy Co-founders
American Power and Light Company
A subsidiary of EBASCO (created by General Electric), American Power and Light consolidated Florida utilities on December 28, 1925, to create Florida Power and Light Company.
McGregor Smith
Former FPL president who led the company through significant growth during the post-war boom years from 1945 to 1960, expanding generating capacity and infrastructure.
James L. Broadhead
CEO who oversaw the formation of FPL Group in 1984 and launched FPL Energy in 1998, setting the foundation for NextEra Energy’s renewable energy expansion.
NextEra Energy Revenue
NextEra Energy generated $24.75 billion in revenue during fiscal year 2024. This represented a decrease from the previous year’s $28.11 billion due to lower fuel costs passed through to customers. The company maintains consistent growth in its core operations.
NextEra Energy Competitors
NextEra Energy competes with major electric utilities across the United States. Duke Energy and Southern Company rank among its closest competitors in market size and service territory. Dominion Energy and Xcel Energy also operate in overlapping renewable energy markets.
| Company | Headquarters | Primary Focus |
|---|---|---|
| Duke Energy | Charlotte, North Carolina | Electric and gas utilities, Southeast and Midwest |
| Southern Company | Atlanta, Georgia | Electric utilities, gas distribution, Southeast |
| Dominion Energy | Richmond, Virginia | Electric and gas transmission, Mid-Atlantic |
| Exelon | Chicago, Illinois | Nuclear generation, transmission utilities |
| American Electric Power | Columbus, Ohio | Electric transmission, distribution, 11 states |
| Xcel Energy | Minneapolis, Minnesota | Electric and gas, Midwest and Southwest |
| FirstEnergy | Akron, Ohio | Electric utilities, transmission, Mid-Atlantic |
| Entergy | New Orleans, Louisiana | Electric utilities, nuclear, Gulf States |
| CenterPoint Energy | Houston, Texas | Electric and gas distribution, Texas, Indiana |
| NRG Energy | Houston, Texas | Power generation, retail electricity |
NextEra Energy Market Cap
NextEra Energy holds a market capitalization of approximately $148 billion as of September 2025. The company ranks as the world’s largest electric utility by market value and maintains a position among the top 150 most valuable publicly traded companies globally.
NextEra Energy Acquisitions
NextEra Energy has expanded through strategic acquisitions that strengthen both its regulated utility business and competitive energy operations. The company focuses on acquiring assets that complement its clean energy strategy and geographic footprint.
The 2002 acquisition of a controlling stake in Seabrook Station Nuclear Power Plant in New Hampshire added nuclear generation capacity outside Florida. Between 2002 and 2003, NextEra Energy built or acquired 17 different wind farms across Texas, Iowa, Pennsylvania, South Dakota, California, New Mexico, Oklahoma, North Dakota, and Minnesota.
In 2005, FPL Group acquired Gexa Energy for approximately $81 million. This Texas-based retail electricity provider gave NextEra access to deregulated markets and the ability to sell power directly to residential and commercial customers throughout Texas.
The Gulf Power acquisition in 2019 represented NextEra Energy’s largest deal at $5.75 billion, including $1.4 billion in assumed debt. This purchase from Southern Company brought 450,000 customers in northwest Florida under NextEra’s umbrella. FPL and Gulf Power merged in January 2022, creating a unified Florida operation.
Additional acquisitions include Florida City Gas in 2018 for approximately $530 million, adding natural gas distribution to about 110,000 customers. NextEra also acquired Plant Oleander and a 65% stake in Stanton Energy Center natural gas plants near Orlando in 2018. Trans Bay Cable, an underwater transmission line in California, joined the portfolio in 2019 for approximately $1.05 billion.
NextEra Energy Partners, launched in 2014 as a publicly traded partnership, acquires and manages contracted clean energy projects. This structure allows NextEra to recycle capital from completed projects while maintaining operational control. The partnership was renamed XPLR Infrastructure in 2025.
FAQs
What does NextEra Energy do?
NextEra Energy generates, transmits, and distributes electricity to customers in Florida and across North America. The company operates the largest fleet of wind and solar projects in the world through NextEra Energy Resources.
Where is NextEra Energy headquarters?
NextEra Energy is headquartered in Juno Beach, Florida. The company operates facilities across the United States and Canada, with its primary regulated utility serving customers throughout Florida.
How many customers does NextEra Energy serve?
NextEra Energy serves approximately 12 million people through about 6 million customer accounts in Florida. Florida Power and Light ranks as the third-largest electric utility in the United States.
Is NextEra Energy a renewable energy company?
NextEra Energy operates as both a regulated utility and renewable energy leader. NextEra Energy Resources generates more electricity from wind and solar than any other company in the world.
When was NextEra Energy founded?
Florida Power and Light Company formed on December 28, 1925. The company rebranded as NextEra Energy in 2010 after forming FPL Group as a holding company in 1984.