NextEra Energy Resources Earnings Rise

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November 1, 2010

NextEra Energy Resources reported third quarter net income on a GAAP basis of $386 million, compared with $212 million in the prior-year quarter.  On an adjusted basis, NextEra Energy Resources' earnings were $267 million, compared with $241 million a year ago.

The improvement was driven mainly by the addition of new wind projects, improved performance of existing assets, and gains in the gas infrastructure business, partially offset by reduced earnings in its proprietary power and gas trading business and higher interest expense.

Adjusted earnings at the customer supply and proprietary power and gas trading businesses were reduced by approximately $16 million relative to the prior year, primarily due to lower contributions from power and gas trading.

The customer supply businesses continue to do "very well" on a year-to-date basis, executives said during an earnings call.

   
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