The shareholders of FPL Group, Inc. (NYSE: FPL) voted today to change the name of the company to NextEra Energy, Inc.
The company announced the proposed name change on March 19, 2010. During the company’s annual meeting today, the proposal was approved by more than 95 percent of the shareholders who cast a vote. Following the shareholder vote, the name of the company was formally changed from FPL Group, Inc. to NextEra Energy, Inc.
The change is intended to better reflect the company’s scale as one of the largest and cleanest energy providers in the country, its diverse scope of operations across 28 states and Canada, and its forward-thinking, innovative approach to providing energy-related solutions for customers.
“NextEra Energy, Inc., is a strong and fitting name for this innovative, competitive, forward-thinking energy company,” Chairman and CEO Lew Hay said. “A decade ago, our business interests were primarily concentrated in Florida. Over the last decade, we have grown and diversified the business from mainly a high-performing utility in Florida to a national enterprise that is also the leading generator of renewable energy from the wind and sun in North America and the third largest nuclear operator in the United States. We are also well positioned for success in the low-carbon economy of the future. Overall, our company is one of the cleanest electric power companies in the nation, with a carbon dioxide emissions rate nearly 50 percent below the industry average.”
The company plans to change its New York Stock Exchange ticker symbol from FPL to NEE in late June. The company will not change the name of its utility subsidiary, Florida Power & Light Company, which has a proud history and tradition of excellence in Florida.
With operations in 28 states, NextEra Energy is one of the nation’s largest electric power companies. It is second in electric generating capacity at 42,678 megawatts as of Dec. 31, 2009, third in revenue at $15.6 billion for 2009, and fifth in market capitalization at $20.8 billion as of May 20, 2010. The company is also the nation’s No.1 producer of renewable energy from the wind and sun and, through its subsidiaries, operates the nation’s third largest nuclear power generation fleet.