FPL completes integration of Gulf Power; expands America's best energy value to Northwest Florida

JUNO BEACH, Fla., Jan. 1, 2022 /PRNewswire/ -- Florida Power & Light Company and Gulf Power Company have integrated and are now doing business as Florida Power & Light Company in Northwest Florida.

"This is an exciting day for everyone at FPL and Gulf Power, as well as the 5.6 million customers we serve across Florida from Miami to Pensacola, as we expand to Northwest Florida America's best energy value – electricity that's not just clean and reliable, but also affordable. Customers in Northwest Florida will benefit from increasingly more affordable electric bills as part of the company's approved four-year rate plan," said Eric Silagy, president and CEO of FPL. "Since the acquisition of Gulf Power in 2019, our team has worked tirelessly to identify and implement productivity improvements and integrate the two companies, improving reliability roughly 50% and reducing the carbon dioxide emissions rate nearly 30% in just three years. Today's milestone is the next step in continuing to build a more resilient and sustainable energy future all of us can depend on, including future generations."

Productivity improvements at Gulf Power since its acquisition by NextEra Energy, FPL's parent company, are expected to reduce annual operations and maintenance expenses in 2022 by $86 million which, on a scale-adjusted basis, is the equivalent of saving nearly $1 billion at FPL. FPL also projects long-term combined system benefits of approximately $1.5 billion as a result of power generation upgrades already underway, a new transmission line physically connecting both utility systems and the ability to dispatch from, and plan for, a common fleet of power generation resources. In total, combining the two companies and operating as a single utility system is projected to save customers more than $2.8 billion over the lifetime of these assets.

FPL will rebrand Gulf Power office buildings, trucks and uniforms with the FPL logo over the coming months. During this transition period, customers may see employee uniforms and vehicles with either the FPL logo or Gulf Power logo.

"While the logo on our bucket trucks and office buildings is changing, our steadfast commitment to Northwest Florida will remain as strong as ever," Silagy said. "The FPL team remains proud to continue to call you our neighbors and remain in Northwest Florida to serve you."

New rate plan
The company's four-year rate plan, unanimously approved by the Florida Public Service Commission in October 2021, goes into effect on Jan. 1, 2022. The plan unifies the rates and tariffs of FPL and Gulf Power and supports FPL's continued long-term investments in infrastructure, clean energy and innovative technology – including the largest solar buildout in the U.S. In recognition of the initial difference in the costs of serving the existing FPL and Gulf Power customers, the settlement agreement implements a transition rider/credit mechanism to address those differences in a reasonable manner for all customers. The transition rider/credit will decline to zero over a five-year period, at which point rates would be fully aligned by Jan. 1, 2027.

Under the plan, FPL's typical 1,000-kWh residential bill is projected to remain well below the national average and among the lowest in Florida through 2025. For customers in Northwest Florida, a typical 1,000-kWh residential customer bill is projected to decline over the next four years. To learn more about the plan, visit www.FPL.com/answers.

System improvements
System improvements are underway and will continue throughout the weekend. During the transition, customers will be unable to manage their accounts, make a payment or report an outage on the Gulf Power website, mobile app or through the automated phone system. Customers can continue to report an outage at 800-487-6937 during this time. Rest assured, there will be no disconnections or adverse impacts to the status of customers' accounts while the systems are unavailable.

New customer experience
Starting Jan. 3, customers can visit their new web experience at FPL.com and log in with their existing username and password to manage their account. The FPL Mobile App will also be available for download to provide customers with instant, secure access to their accounts, while on the go. In addition, customers will be able to report an outage through FPL.com and the new FPL Mobile App.

Be aware of potential scams
FPL encourages customers to be on the lookout for potential scams. Scammers continue to aggressively target utility customers using phones, emails and in-person visits. Be wary of suspicious activity and learn how to spot a scam. The company reminds its customers and others to:

• Hang up if you get a suspicious call from someone claiming to be from FPL. The caller ID may even display FPL's or Gulf Power's name.
• Never share personal information.
• Do not pay over the phone if the caller is asking for immediate payment only with a prepaid card or wire transfer to avoid disconnection.
• Ask to see identification if someone comes to your door or into your yard and claims to represent FPL or Gulf Power. All company employees carry a photo identification badge.
• Contact FPL at 800-225-5797 to report a scam or confirm information if you are in doubt about anything you receive by mail or email.

After a scam incident, customers should also contact their local police department, the Florida Attorney General Office at www.MyFloridaLegal.com or the Federal Trade Commission at www.consumer.ftc.gov.

Florida Power & Light Company
Florida Power & Light Company is the largest energy company in the U.S. as measured by retail electricity produced and sold. The company serves more than 5.6 million customer accounts supporting more than 11 million residents across Florida with clean, reliable and affordable electricity. FPL operates one of the cleanest power generation fleets in the U.S and in 2021 won the ReliabilityOne® National Reliability Excellence Award, presented by PA Consulting, for the sixth time in the last seven years. The company was recognized in 2020 as one of the most trusted U.S. electric utilities by Escalent for the seventh consecutive year. FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE), a clean energy company widely recognized for its efforts in sustainability, ethics and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune's 2021 list of "World's Most Admired Companies." NextEra Energy is also the parent company of NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

SOURCE Florida Power & Light Company; NextEra Energy, Inc.