President and CEO's Letter
To Our Stakeholders:
At NextEra Energy, Inc., we hold ourselves to high standards, and we know that you also expect the best from us. Our 2012 Corporate Responsibility Report summarizes many of our achievements over the past year, as well as how we are continuing to improve our performance across the enterprise.
We have two outstanding primary businesses, one with a long history and the other with a relatively short history that we have grown to become the equivalent of a Fortune 500-sized company in its own right in just over a decade.
At FPL, our rate-regulated utility, the core of our strategy for many years has been to strive constantly to improve the value we deliver to our 4.6 million customers. Today, FPL offers its typical residential customers a bill that is the lowest in Florida and 24 percent below the national average, coupled with top quartile reliability, award-winning customer service, and one of the lowest emissions profiles among U.S. utilities. We are investing heavily in the business to ensure this tremendous value proposition gets even better over time. We project that our investments in new, highly efficient power generation capacity will save customers billions of dollars in fuel costs and improve our emissions profile, and that investments in our transmission and distribution infrastructure will increase our system's resiliency, reliability and compatibility with the environment.
At NextEra Energy Resources, LLC, our competitive generation business, our strategy is not as easy to capture in a few words, but it has always reflected a balance between a long-term vision of scale, skills and scope, and a pragmatic recognition that every goal in the competitive power space must be pursued opportunistically. More than a decade of sustained effort has constructed a business that is the country's largest producer of renewable energy from the wind and the sun. NextEra Energy Resources also contains many other business capabilities, and we continue to seek ways to expand the business based on the growth opportunities we see.
Across both FPL and NextEra Energy Resources we will maintain our focus on clean energy, on being low cost, and on maintaining our track record of safe, excellent execution and continuous improvement.
This report illustrates many of those continuous improvements. We are focused on our environment by keeping an air emissions rate that is among the lowest in our industry, and by continuing our efforts to preserve water, land and wildlife. We are focused on our customers by offering compelling value as well as a range of programs and services to help them save energy and save money. We are focused on our communities through financial support, lots of volunteer work, and a particular passion for helping to educate our young people. And we're focused on our nearly 15,000 employees by investing in an award-winning health and wellness program, an in-house university that's developing cutting-edge job skills, and a shared safety culture with a goal of zero injuries every day.
In this report, we also document how NextEra Energy has flourished under the leadership of Lew Hay. During his 11 years as CEO, our company significantly outperformed our industry benchmark, as well as the S&P 500 index. Along the way, our company added more than $24 billion in shareholder value - $18 billion through price appreciation and more than $6 billion through dividends - all while building one of the cleanest and most efficient asset portfolios in the United States.
As the new CEO of NextEra Energy, I consider myself very fortunate. I have been an integral part of all the major decisions of the past decade that have helped generate the success illustrated in these pages. I am intimately familiar with the expectations of you, our stakeholders. I am confident in the ability of our team to meet them. And I am focused constantly on our company's opportunities and challenges. Our business is in great shape and we continue to invest in growing it.
Not the least of our achievements over the past decade has been the development of the team that continues to lead this company, a team that remains committed to corporate responsibility and accountability. On behalf of the nearly 15,000 members of our team, thank you for taking the time to see how far we have traveled, and why we are so optimistic about what's yet to come.