The ticker symbol for NextEra Energy, Inc.’s common stock listed on the New York Stock Exchange officially changed from “FPL” to “NEE” at the start of trading today.
On May 21, 2010, the company’s shareholders approved changing the company's name from FPL Group, Inc. to NextEra Energy, Inc. 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.
Through its principal subsidiaries, NextEra Energy Resources, LLC and Florida Power & Light Company, NextEra Energy, Inc. collectively operates the third largest nuclear power generation fleet in the United States and leads North America in the production of renewable energy from the wind and sun.
“Our clean energy strategy has allowed us to achieve impressive growth over the past decade,” said NextEra Energy, Inc. Chairman and CEO Lew Hay. “We’ve more than doubled our total generating capacity from about 19,500 megawatts to nearly 43,000 megawatts, including more than 10,000 megawatts of clean, emissions-free generation from wind, solar and nuclear. In an industry not known for growth, this is a pretty remarkable achievement.”
One of the nation’s largest electric power companies, NextEra Energy, Inc. ranked second nationally 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 $21.03 billion as of June 22, 2010. The company is No. 147 on the Fortune 500.
Also effective at the start of trading today, the ticker symbol for FPL Group Capital Inc’s Series F Junior Subordinated Debentures due 2069 changed from “FPL.PRF” to “NEE.PRF,” and the ticker symbol for FPL Group Capital Trust I’s 5-7/8% Preferred Trust Securities changed from “FPL.PRC” to “NEE.PRC.”