NextEra Energy Executive Vice President for Federal Regulatory Affairs Joseph Kelliher issued the following statement today on the Federal Energy Regulatory Commission’s release of a proposed rule dealing with transmission planning and cost allocation:

“We commend FERC for issuing this important proposed rule. It’s imperative that we develop a more robust electrical grid if renewable energy is going to play a larger role in meeting the nation’s energy needs. One of the biggest barriers to a large-scale transmission build-out is figuring out how to properly allocate the costs of interstate transmission lines. The status quo is simply not working. Cost-allocation disputes are hampering grid development and discouraging development of our highest-quality, lowest-cost renewable resources. FERC’s proposed rule takes a balanced approach that tries to allocate costs in rough proportion to the benefits received. It avoids the extremes of making renewable energy developers pay the entire costs for transmission projects that have broad social benefits, and of spreading costs so broadly that those who derive no benefit are forced to pay. We look forward to working with FERC on this critical policy issue. The nation needs a 21st century electrical grid if renewable energy is ever going to achieve its full potential.”

NextEra Energy, Inc.

NextEra Energy, Inc. (NYSE:FPL), which previously operated as FPL Group, is a leading clean energy company with 2009 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and more than 15,000 employees in 28 states and Canada. Headquartered in Juno Beach, Fla., NextEra Energy’s principal subsidiaries are NextEra Energy Resources, LLC, the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves approximately 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. Through its subsidiaries, NextEra Energy collectively operates the third largest U.S. nuclear power generation fleet. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.NextEraEnergyResources.com, www.FPL.com.

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX