Thanks, Kristin, and morning. good
approximately and are value been results, one FPL reliability the regulatory and relentlessly has customers we FPL's constructive are most in quarter below what focused bills to continued we jurisdictions on the of running delivered share business national nation. the well average, efficiently. the to strong NextEra growing In adjusted outstanding third quarter, earnings in believe its deliver year-over-year. Energy XX.X% per the
renewables extended renewable strong energy during third the Resources in and quarter origination earnings leadership its Energy its quarter position best in storage adjusted with its and growth history.
visibility has XX NextEra backlog. growth gigawatt storage plan clear and Energy Resources' FPL's through renewables over Energy and capital
relationships, the the Energy to shareholders. capital With is capital continue significant advantages NextEra worldwide for both has and banking in sheets well to believe positioned access cost sector value we and deliver strongest of balance and long-term to
Now results. let's FPL's turn detailed to
third employed regulatory of quarter driver the FPL's per increased XXXX, was this approximately year-over-year. For of growth earnings The capital FPL's share performance year-over-year. of $X.XX XX.X% principal
FPL current growth to employed X% billion expenditures $X in X-year FPL's $X.X over billion. annual approximately capital FPL's XXXX funds term, between through investments capital year full We roughly to expect continue realize be average the capital quarter, XXXX. $X.X expect and were we for regulatory our to and rate billion agreement's which
months For reported ending regulatory XX.X%. FPL's approximately the September XXXX, ROE XX for be purposes will
During reversed roughly of third over we $X.X of leaving quarter, FPL reserve with the balance amortization, a billion. $XXX million
expect X-year investments continue $XX billion the billion. $XX capital Over to FPL between of to to agreement, current settlement we make
and value established we one best focused the the on of propositions well believe Our is customer enhancing capital investment plan industry. what in is
year-over-year third that X%. weather, continues of in comparable Florida positive which sales per remains X% one and the period usage the Key indicators quarter be year country. on fastest-growing approximately Florida impact due prior show had the customer to the of warmer a healthy states increased FPL's economy from retail to
X% weather-normalized roughly observed underlying As on retail in growth of a quarter result, basis. sales a FPL solid third
our reflects by existing gas and new resource. impacts driven increased per let's clean year-over-year, businesses includes share Energy customer from $X.XX to costs reduced of Now wind which which contribution weaker new borrowing the share reported while earnings declined Contributions adjusted This which costs increased XX% portfolio investments of infrastructure by share share, impact from earnings $X.XX our year-over-year All is to support growth investments. energy decline half Resources, per $X.XX turn approximately supply year-over-year. of respectively. per interest $X.XX per The new $X.XX share. other by trading $X.XX and higher and share, by per per comparative
Energy is a first Resources a in adding quarter. renewables X,XXX record have had the we time megawatts backlog, X the new gigawatts exceeded origination approximately of quarter and storage single to which
be believe for can terrific demand do this we a remind lumpy renewable quarter-to-quarter, is strong underlying you will Although that sign signings of new we generation.
roughly quarter these call. since account X,XXX XX taking gigawatts megawatts additions, now projects after our over into new totals of into placed service With backlog second our
also roughly following York megawatts XXX ago. NYSERDA from by New of projects backlog, our megawatts an in X,XXX removed weeks We including decision X adverse roughly
are gigawatts to XX development will expectations XX due removed roughly We from ultimately move renewable of but achieve them we removing The challenges. projects to forward, permitting remaining these through are optimistic now. to for remain on backlog track our megawatts were XXXX. that Overall,
of I'm roughly backlog quarter's include in few minutes. a approximately which the wind discuss share going This includes XXX to XXX to repower within of NextEra megawatts repowers megawatts Resources' Partners' Energy existing Energy facilities, additions portfolio, which
of are As to XX% in enhance the attractive years a start the a of collectively invest production turbine reminder, in to roughly new and a tax resulting we of refresh the of repower, build, performance cost able credits, XX returns. a new XX% equipment and
credit megawatts X existing roughly projects our Energy and ability to The repower believe portfolio, interconnection of our be from years. the of we Resources and storage capacity tax to additions Also will combination facilities. its and storage co-located XX-gigawatt operating for of to storage included able wind capacity. portfolio standalone and in our the has the battery us standalone positions previously needs renewables existing of we repowered coming operating customers' in much solar wind well are utilize growing approximately gigawatts XXX roughly existing footprint wind with serve backlog
results. from consolidated earnings share $X.XX Adjusted quarter Corporate and XXXX year-over-year. by decreased our third Turning now Other to per
unchanged. remain Our long-term financial expectations
not annual year XXXX. to through or if results adjusted We to From are at above flow our expect our XXXX will able that growth we continue to annual to rate the XXXX to our be financial compound ranges per be per share we growth near average we our or cash end XXXX, continue from top expect base. EPS least deliver in of at off expectation roughly EPS dividends XXXX disappointed each adjusted in a grow year operating And at for range. will at XX% XXXX,
our expectations always, are our subject As caveats. to
to operations addition Energy. so of in for Energy project This Resources. Going finance similar capital flow roughly and manner serving the a funding to have to we tax tax utilizing new for business cash needs both from NextEra FPL is forward, we at of done and plan a in historically fund how equity, debt. corporate funding of our as source Sale half credits includes
reduced cash XXXX amount We NextEra recycling approximately expect has Energy previously historically proceeds. years to and next the to grow expect those dynamic including equity of in sales billion in to $X $X.X NextEra to this met transfer credits capital over needs, Partners, billion annual couple via Energy's to This $XXX has tax averaged roughly and million XXXX. in which roughly of billion $X.X
specifically. future Let me equity address issuances
discipline financial and core strategy. remain sheet balance to Our our
our we to strength customers and As balance those our a shareholders, that maintains in investments investments fund sheet. way for we expect of find attractive the
specified our issued the those on of year-end X a last our over not for years, metrics roughly in have to do by equity reminder, the to agencies We equity issue of current credit $X.X billion annually, exceed -- average, expect and any we As balance rating our of form to support XXXX equity the units. expect ratings. credit the
XXXX primarily years. on current Energy are units interest well equity than XXXX, dilution benefit rate which We billion environment. FPL, X to interest believe of offset total satisfy reliance our for volatility to the equity From needs, the expect FPL higher and have At no we in be no positioned manage equity we $X with mechanism the the to to surplus total through Resources on continued our customers. rates for rely would first needs more in
an to ROE enabling adjusted higher agreement In ROE current addition, it the XX.X%, to FPL's provided in rate environment. a earn rate already higher for
able current expect the mechanism much FPL FPL surplus of period. the in through new expects effects with case agreement, a the use to the settlement for XXXX effective cumulative file current that the all the over be of remaining environment to will rates rate Consistent of absorb rate expiration rate XXXX. the potentially interest We and of early
hedges Corporate we Energy have in place. and of For Resources rate interest and $XX.X billion now Other,
returns roughly add to X through of of XXXX XX and While and Resources' and and rate are mitigate debt XXXX. swaps changes vary have average allow interest weighted tenor maturities impact we X.XX%. between rate a as the $XX.X on Energy the backlog Capital Swaps settle of Holdings' the amounts years us billion the of hedges, from
expect issue on the backlog Specifically, $XX.X portion these to us our to maturities. allow the a we near-term project well billion renewables and of as swaps debt as of hedge level funding
to including, adjusted and is in To XXXX reductions normal do immediate of of has put essentially not to has, capital expected XXXX opportunities. sensitivity yield cost sensitivity, XXXX among which This other our efficiency on our EPS offsetting X% perspective, assumes and equivalent others, shift in impact EPS all course, this the EPS Energy's $X.XX initiatives, upward approximately expected in expectations. XXXX, on implement for of we impact XX-basis-point curve process of NextEra adjusted no an $X.XX adjusted average, and and
and scale backlog our return benefiting mid-teens equipment, ability and rate wind materials our capabilities at supply and solar are interest for and backlog swaps, across balance for storage. for to and portfolio. XX% good our global from in over Our plant The equity of services the expected is management on is shape procure chain
our in price returns. conditions, our As we to power historically, of current order commensurate done agreements market cost including capital have current purchase maintain we with appropriate
were expectations. utilizing our at rate capital investment of before maintain backlog contracts on were we addition, we decision rates swaps when commit we time our projects, lower final are to our entered In into return to that interest the significant
financially projects on meet that our don't return We disciplined pass remain and expectations.
in pricing which on for purchase will rates we equipment higher prices. impacts by offset panels Going forward, are we batteries, interest encouraged solar increased given power declining the lower competition of agreement for materials, the prices help globally are and believe trends and seeing we
continued to the cost well, energy optimistic of the know We will forms competitiveness renewable resilient factors relative all to that of alternative including are generation. you due demand remain
has strong backlog by additions date, our substantial Importantly this to quarter. as evidenced new to demand remained
NextEra turn let's Energy Now to Partners.
a by financing reminder, is acquisitions a long-term flows those financing with contracted at cash grows and partnership its distribution low As cost. vehicle the that assets high-quality acquiring
a have help in convert needs on recent low-cost financing cash year same meet coming Over years, [ has the to rising. amount rates their drive at equity and over years, its to buy partnership believe portfolio financing over its financings to out convertible Partners time. distribution time years, that relied term financing to be on due able been the issued NextEra low contributed almost primarily the the rely yield, were we growth. several To significant trading to has coupon and into ] during the the this which next equity A of equity interest partnership's began doubling required these Energy
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natural and a Texas agreements portfolio the to As natural successfully sell pipeline transition in the XXXX, into and entering gas this reminder, year gas respectively. Meade plans assets include pipeline
STX Pipeline of to to NEP enable associated financings an convertible the XXXX pipelines to expectations, renewables process or that XXXX. the on small in have equity in update convertible of portfolio the Through would and period leave the the fit buyout Doing million Texas so buyouts and net Genesis a partnership our on will financing address current equity our expect to through the equity the January. portfolio portfolio with The fourth partnership Midstream, is continuing roughly XXXX. sell $XXX before its quarter equity call Holding financial
Energy unitholders. against involves acquiring of plan X.X That approximately NextEra Energy third growth for parties from as executing Resources on plan yields. favorable wind focused projects well of specifically gigawatts growth, is Partners repowerings or organic assets as its at
to target. NextEra expect X% in in an Partners Importantly, does Energy to not need acquisition distributions meet XXXX the per growth unit
or the an require this across fund wind The are and and XXX generate to approximately executing megawatts plans attractive Overall, to Repowerings additional XXXX, repowering approval project-specific with support Board the final of opportunities X targets. expected Partners' on through repower repowerings growth expects term. to facilities to represent received CAFD which Today, future the of tax debt. partnership's be equity progress near to repowerings are either we're wind in Directors, efficient of pleased announcing portfolio. which the partnership projected the customer's remain the is we way roughly with in Energy NextEra gigawatt the focused yields
maturities minimize growth executed to into and for roughly factored the expected the plan, resulting and are expectations. volatility refinancing our XXXX associated $X.X rates maturities. with To hedge The in the interest billion the refinancing also changes the partnership of costs support costs XXXX
Turning to results. detailed the
million. $XXX was $XXX cash NextEra Energy for was million adjusted and Partners' EBITDA distribution available third quarter
from megawatts XXX the of which approximately net new million of contributed closed long-term primarily renewable projects available million contributions of that in and quarter net of X,XXX this approximately new adjusted cash contracted megawatts for year, in EBITDA projects, $XX the XXXX distribution. $XX second acquired reflect and New projects approximately of
third by $X increased approximately projects The contribution from existing year-over-year. EBITDA adjusted quarter million
suspension distributions payments cash adjusted of results existing EBITDA distribution available driven million this impacts resource offsetting incentive and by fee impacted distribution more at cash $XX by quarter, were quarter for available the than the positively wind PAYGO provided of for benefit approximately Third lower lower projects. rights for and
distribution on Board annualized $X.XX unit common increase quarter per unit. basis, second of of X% reflects declared NextEra an common or which unit Yesterday, Energy XXXX common annualized quarterly per its from an distribution Partners' a per $X.XXXX
target From at continue a in per per reasonable growth a distributions base we being range of current common through with year an at unit distribution to expectations X% to our per growth second unit quarter $X.XX, XXXX X% per unit XXXX. X% a rate annualized see LP of per of of to year least
for that in $X.XX rate annualized be expect the fourth XXXX distribution February we quarter XXXX to unit. common XXXX, For of is payable per
Partners respectively. and the to EBITDA NextEra $X.X $X.X December contributions forecasted billion for at cash Energy portfolio for $XXX be billion adjusted XXXX, million expects available in run range and to from to million, its rate of XX, distributions $XXX
As rate XXXX reflect a at run XXXX. from year-end contributions year forecasted XXXX reminder, year-end portfolio projections calendar
portfolio these distributions The cash associated financial the adjusted have Texas expectations. from rate been EBITDA for excluded with related Pipeline and available run
our As caveat. always, our expectations are subject to
While NextEra to this navigates portfolio. lose environment, through not current sight Energy it's of the important value of Partners underlying the
an address is world rating with gigawatts NextEra from the Energy wind Partners of contracts the electricity in renewable seventh cash the XX sun XX NextEra operation.
The no been and counterparty the receiving has vehicle with buy over separately, from of XX NextEra plans states, to high-quality credit XX that contract the attractive over deliver an in some of and partnership in flows largest producer partnership owns question a life We to serving years. optimistic remaining customers be assets investors, BBB+ projects to with of can Partners. renewables We be via average Energy the partnership average renewable own remain back Energy long an want the existing term. successful to we've
turn I'll that, over the John. call to With
