NextEra has strong Q4 results as wind generation increases

CEO of FPL Group Lew Hay talks with the media after President Obama's visit and speech at the DeSoto Next Generation Energy Center in Arcadia, Florida.

NextEra Energy’s fourth quarter earnings more than doubled from a year earlier on the strength of greater wind power output but 2011 results were flat, as low gas and power prices weighed on financial performance of its unregulated generating business.

Fourth quarter net income was $667m, or $1.59 a share, from $263m, or 63 cents, a year earlier. Sales increased 13% to $3.86bn.

Quarterly profit surged to $402m from $73m at NextEra Energy Resources, a wholesale power supplier, as its wind farms produced 580,000MWh more in the period due to stronger wind resource than a year earlier. NextEra is the largest wind and solar generator in North America. “It was an excellent year for wind,” says financial chief Moray Dewhurst.

The parent company’s full- year net profit was $1.92bn, or $4.59 per share,…

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