NextEra Energy's Florida Power & Light Directs Tax Benefits to Hurricane Costs, Averting Surcharge
January 16 2018 - 5:36PM
Dow Jones News
By Maria Armental
Florida Power & Light Co., a unit of NextEra Energy Inc. and
the state's largest investor-owned utility, intends to use federal
tax benefits to cover expenses tied to Hurricane Irma.
Earlier, the company had said it would seek to recoup an
estimated $1.3 billion in Hurricane Irma-related restoration costs
through a surcharge on customer bills through 2020.
Because of the federal tax benefits, the company said Tuesday it
wouldn't need to raise rates this year to pay for the restoration
work. Tax benefits in future years, the company said, may allow it
to continue operating under the current base-rate agreement,
potentially through the end of 2022.
NextEra is slated to report fourth-quarter results on Jan.
26.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 16, 2018 17:21 ET (22:21 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
NextEra Energy (NYSE:NEE)
Historical Stock Chart
From Mar 2024 to Apr 2024
NextEra Energy (NYSE:NEE)
Historical Stock Chart
From Apr 2023 to Apr 2024
