Name change proposed for FPL Group
23 March 2010
FPL Group has announced a proposal to change its name to NextEra Energy Inc. The change of name has already been approved by its board of directors and will be put forward for shareholder approval at its annual meeting, scheduled for 21 May. FPL said that the name change is intended to "better reflect the company's scale as one of the largest and cleanest energy providers" in the USA, as well as distinguishing the company and its utility subsidiary Florida Power and Light (FP&L). FPL Group chairman and CEO Lew Hay commented: "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 in North America and the third largest nuclear operator in the US." He added, "NextEra Energy Inc is a strong and fitting name for this competitive, forward-thinking energy company." FPL subsidiary FPL Energy LLC was renamed NextEra Energy Resources in January 2009 to "better reflect the company's clean-energy mission and market focus." NextEra Energy Resources owns the Point Beach nuclear power plant in Wisconsin and majority interests in the Duane Arnold plant in Iowa and Seabrook plant in New Hampshire. Both FP&L, which owns the Turkey Point and St Lucie nuclear power plants in Florida, and NextEra Energy Resources, will retain their current names.