Summary
This 8-K filing from NextEra Energy, Inc. (NEE) reports on the impact of Hurricane Irma on its subsidiary, Florida Power & Light Company (FPL). The hurricane caused widespread power outages, affecting approximately 4.4 million of FPL's 5 million customers, primarily impacting its distribution facilities. As of September 15, 2017, FPL had restored power to 3.4 million customers and provided estimated timelines for full restoration by the end of September 2017, with potential exceptions for severely damaged areas.
Key Highlights
- 1Hurricane Irma caused significant damage to Florida Power & Light Company's (FPL) distribution facilities in Florida.
- 2Approximately 4.4 million out of FPL's 5 million customers experienced power outages due to the hurricane.
- 3As of September 15, 2017, FPL had restored service to 3.4 million customers.
- 4Full restoration to most customers on the east coast was expected by September 17, 2017.
- 5Full restoration to most customers on the west coast was expected by September 22, 2017.
- 6The full costs of repairs and restoration are not yet determined.
- 7FPL is authorized under its 2016 rate agreement to recover prudently incurred storm restoration costs exceeding its storm reserve, subject to regulatory approval.