10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period endedJune 30, 2014

Commission File Number	Exact name of registrants as specified in their charters, address of principal executive offices and registrants' telephone number	IRS Employer Identification Number
1-8841	NEXTERA ENERGY, INC.	59-2449419
2-27612	FLORIDA POWER & LIGHT COMPANY	59-0247775
	700 Universe Boulevard Juno Beach, Florida 33408 (561) 694-4000

State or other jurisdiction of incorporation or organization:  Florida

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) have been subject to such filing requirements for the past 90 days.

NextEra Energy, Inc.    Yes þ    No o                                                                     Florida Power & Light Company    Yes þ    No o

Indicate by check mark whether the registrants have submitted electronically and posted on their corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

NextEra Energy, Inc.    Yes þ    No o                                                                     Florida Power & Light Company    Yes þ    No o

Indicate by check mark whether the registrants are a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Securities Exchange Act of 1934.

NextEra Energy, Inc.	Large Accelerated Filer þ	Accelerated Filer ¨	Non-Accelerated Filer ¨	Smaller Reporting Company ¨
Florida Power & Light Company	Large Accelerated Filer ¨	Accelerated Filer ¨	Non-Accelerated Filer þ	Smaller Reporting Company ¨

Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).   Yes ¨   No þ

The number of shares outstanding of NextEra Energy, Inc. common stock, as of the latest practicable date:  Common Stock, $0.01 par value, outstanding as of June 30, 2014: 436,357,087 shares.

As of June 30, 2014, there were issued and outstanding 1,000 shares of Florida Power & Light Company common stock, without par value, all of which were held, beneficially and of record, by NextEra Energy, Inc.

This combined Form 10-Q represents separate filings by NextEra Energy, Inc. and Florida Power & Light Company.  Information contained herein relating to an individual registrant is filed by that registrant on its own behalf.  Florida Power & Light Company makes no representations as to the information relating to NextEra Energy, Inc.'s other operations.

Florida Power & Light Company meets the conditions set forth in General Instruction H.(1)(a) and (b) of Form 10-Q and is therefore filing this Form with the reduced disclosure format.

TABLE OF CONTENTS

		Page No.
Forward-Looking Statements		3
	PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements	6
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	40
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	57
Item 4.	Controls and Procedures	57
	PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	57
Item 1A.	Risk Factors	57
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	57
Item 5.	Other Information	58
Item 6.	Exhibits	59
Signatures		61

NextEra Energy, Inc., Florida Power & Light Company, NextEra Energy Capital Holdings, Inc. and NextEra Energy Resources, LLC each has subsidiaries and affiliates with names that may include NextEra Energy, FPL, NextEra Energy Resources, NextEra, FPL Group Capital, FPL Energy, FPLE and similar references.  For convenience and simplicity, in this report the terms NEE, FPL, NEECH and NEER are sometimes used as abbreviated references to specific subsidiaries, affiliates or groups of subsidiaries or affiliates.  The precise meaning depends on the context.

2

FORWARD-LOOKING STATEMENTS

This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, strategies, future events or performance (often, but not always, through the use of words or phrases such as may result, are expected to, will continue, is anticipated, aim, believe, will, could, should, would, estimated, may, plan, potential, future, projection, goals, target, outlook, predict and intend or words of similar meaning) are not statements of historical facts and may be forward looking.  Forward-looking statements involve estimates, assumptions and uncertainties.  Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors (in addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements) that could have a significant impact on NextEra Energy, Inc.'s (NEE) and/or Florida Power & Light Company's (FPL) operations and financial results, and could cause NEE's and/or FPL's actual results to differ materially from those contained or implied in forward-looking statements made by or on behalf of NEE and/or FPL in this combined Form 10-Q, in presentations, on their respective websites, in response to questions or otherwise.

Regulatory, Legislative and Legal Risks

• NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected by the extensive regulation of their business.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected if they are unable to recover in a timely manner any significant amount of costs, a return on certain assets or an appropriate return on capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise.

• Regulatory decisions that are important to NEE and FPL may be materially adversely affected by political, regulatory and economic factors.

• FPL's use of derivative instruments could be subject to prudence challenges and, if found imprudent, could result in disallowances of cost recovery for such use by the Florida Public Service Commission (FPSC).

• Any reductions to, or the elimination of, governmental incentives that support renewable energy, including, but not limited to, tax incentives, renewable portfolio standards or feed-in tariffs, or the imposition of additional taxes or other assessments on renewable energy, could result in, among other items, the lack of a satisfactory market for the development of new renewable energy projects, NextEra Energy Resources, LLC (NEER) abandoning the development of renewable energy projects, a loss of NEER's investments in renewable energy projects and reduced project returns, any of which could have a material adverse effect on NEE's business, financial condition, results of operations and prospects.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected as a result of new or revised laws, regulations or interpretations or other regulatory initiatives.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected if the rules implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act broaden the scope of its provisions regarding the regulation of over-the-counter (OTC) financial derivatives and make certain provisions applicable to NEE and FPL.

• NEE and FPL are subject to numerous environmental laws, regulations and other standards that may result in capital expenditures, increased operating costs and various liabilities, and may require NEE and FPL to limit or eliminate certain operations.

• NEE's and FPL's business could be negatively affected by federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions.

• Extensive federal regulation of the operations of NEE and FPL exposes NEE and FPL to significant and increasing compliance costs and may also expose them to substantial monetary penalties and other sanctions for compliance failures.

• Changes in tax laws, as well as judgments and estimates used in the determination of tax-related asset and liability amounts, could adversely affect NEE's and FPL's business, financial condition, results of operations and prospects.

• NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected due to adverse results of litigation.

Operational Risks

• NEE's and FPL's business, financial condition, results of operations and prospects could suffer if NEE and FPL do not proceed with projects under development or are unable to complete the construction of, or capital improvements to, electric generation, transmission and distribution facilities, gas infrastructure facilities or other facilities on schedule or within budget.

• NEE and FPL may face risks related to project siting, financing, construction, permitting, governmental approvals and the negotiation of project development agreements that may impede their development and operating activities.

• The operation and maintenance of NEE's and FPL's electric generation, transmission and distribution facilities, gas infrastructure facilities and other facilities are subject to many operational risks, the consequences of which could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

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• NEE's and FPL's business, financial condition, results of operations and prospects may be negatively affected by a lack of growth or slower growth in the number of customers or in customer usage.

• NEE's and FPL's business, financial condition, results of operations and prospects can be materially adversely affected by weather conditions, including, but not limited to, the impact of severe weather.

• Threats of terrorism and catastrophic events that could result from terrorism, cyber attacks, or individuals and/or groups attempting to disrupt NEE's and FPL's business, or the businesses of third parties, may materially adversely affect NEE's and FPL's business, financial condition, results of operations and prospects.

• The ability of NEE and FPL to obtain insurance and the terms of any available insurance coverage could be materially adversely affected by international, national, state or local events and company-specific events, as well as the financial condition of insurers.  NEE's and FPL's insurance coverage does not provide protection against all significant losses.

• If supply costs necessary to provide NEER's full energy and capacity requirement services are not favorable, operating costs could increase and materially adversely affect NEE's business, financial condition, results of operations and prospects.

• Due to the potential for significant volatility in market prices for fuel, electricity and renewable and other energy commodities, NEER's inability or failure to manage properly or hedge effectively the commodity risks within its portfolios could materially adversely affect NEE's business, financial condition, results of operations and prospects.

• Sales of power on the spot market or on a short-term contractual basis may cause NEE's results of operations to be volatile.

• Reductions in the liquidity of energy markets may restrict the ability of NEE to manage its operational risks, which, in turn, could negatively affect NEE's results of operations.

• NEE's and FPL's hedging and trading procedures and associated risk management tools may not protect against significant losses.

• If price movements significantly or persistently deviate from historical behavior, NEE's and FPL's risk management tools associated with their hedging and trading procedures may not protect against significant losses.

• If power transmission or natural gas, nuclear fuel or other commodity transportation facilities are unavailable or disrupted, FPL's and NEER's ability to sell and deliver power or natural gas may be limited.

• NEE and FPL are subject to credit and performance risk from customers, hedging counterparties and vendors.

• NEE and FPL could recognize financial losses or a reduction in operating cash flows if a counterparty fails to perform or make payments in accordance with the terms of derivative contracts or if NEE or FPL is required to post margin cash collateral under derivative contracts.

• NEE and FPL are highly dependent on sensitive and complex information technology systems, and any failure or breach of those systems could have a material adverse effect on their business, financial condition, results of operations and prospects.

• NEE's and FPL's retail businesses are subject to the risk that sensitive customer data may be compromised, which could result in a material adverse impact to their reputation and/or the results of operations of the retail business.

• NEE and FPL could recognize financial losses as a result of volatility in the market values of derivative instruments and limited liquidity in OTC markets.

• NEE and FPL may be materially adversely affected by negative publicity.

• NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected if FPL is unable to maintain, negotiate or renegotiate franchise agreements on acceptable terms with municipalities and counties in Florida.

• Increasing costs associated with health care plans may materially adversely affect NEE's and FPL's results of operations.

• NEE's and FPL's business, financial condition, results of operations and prospects could be negatively affected by the lack of a qualified workforce or the loss or retirement of key employees.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected by work strikes or stoppages and increasing personnel costs.

• NEE's ability to successfully identify, complete and integrate acquisitions is subject to significant risks, including, but not limited to, the effect of increased competition for acquisitions resulting from the consolidation of the power industry.

Nuclear Generation Risks

• The construction, operation and maintenance of NEE's and FPL's nuclear generation facilities involve environmental, health and financial risks that could result in fines or the closure of the facilities and in increased costs and capital expenditures.

• In the event of an incident at any nuclear generation facility in the United States (U.S.) or at certain nuclear generation facilities in Europe, NEE and FPL could be assessed significant retrospective assessments and/or retrospective insurance

4

premiums as a result of their participation in a secondary financial protection system and nuclear insurance mutual companies.

• U.S. Nuclear Regulatory Commission (NRC) orders or new regulations related to increased security measures and any future safety requirements promulgated by the NRC could require NEE and FPL to incur substantial operating and capital expenditures at their nuclear generation facilities.

• The inability to operate any of NEER's or FPL's nuclear generation units through the end of their respective operating licenses could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

• Various hazards posed to nuclear generation facilities, along with increased public attention to and awareness of such hazards, could result in increased nuclear licensing or compliance costs which are difficult or impossible to predict and could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

• NEE's and FPL's nuclear units are periodically removed from service to accommodate normal refueling and maintenance outages, and for other purposes.  If planned outages last longer than anticipated or if there are unplanned outages, NEE's and FPL's results of operations and financial condition could be materially adversely affected.

Liquidity, Capital Requirements and Common Stock Risks

• Disruptions, uncertainty or volatility in the credit and capital markets may negatively affect NEE's and FPL's ability to fund their liquidity and capital needs and to meet their growth objectives, and can also adversely affect the results of operations and financial condition of NEE and FPL.

• NEE's, NextEra Energy Capital Holdings, Inc.'s (NEECH) and FPL's inability to maintain their current credit ratings may adversely affect NEE's and FPL's liquidity and results of operations, limit the ability of NEE and FPL to grow their business, and increase interest costs.

• NEE's and FPL's liquidity may be impaired if their creditors are unable to fund their credit commitments to the companies or to maintain their current credit ratings.

• Poor market performance and other economic factors could affect NEE's defined benefit pension plan's funded status, which may materially adversely affect NEE's and FPL's business, financial condition, liquidity and results of operations and prospects.

• Poor market performance and other economic factors could adversely affect the asset values of NEE's and FPL's nuclear decommissioning funds, which may materially adversely affect NEE's and FPL's liquidity and results of operations.

• Certain of NEE's investments are subject to changes in market value and other risks, which may materially adversely affect NEE's liquidity, financial results and results of operations.

• NEE may be unable to meet its ongoing and future financial obligations and to pay dividends on its common stock if its subsidiaries are unable to pay upstream dividends or repay funds to NEE.

• NEE may be unable to meet its ongoing and future financial obligations and to pay dividends on its common stock if NEE is required to perform under guarantees of obligations of its subsidiaries.

• Disruptions, uncertainty or volatility in the credit and capital markets may exert downward pressure on the market price of NEE's common stock.

These factors should be read together with the risk factors included in Part I, Item 1A. Risk Factors in NEE's and FPL's Annual Report on Form 10-K for the year ended December 31, 2013 (2013 Form 10-K), and investors should refer to that section of the 2013 Form 10-K. Any forward-looking statement speaks only as of the date on which such statement is made, and NEE and FPL undertake no obligation to update any forward-looking statement to reflect events or circumstances, including, but not limited to, unanticipated events, after the date on which such statement is made, unless otherwise required by law.  New factors emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement.

Website Access to U.S. Securities and Exchange Commission (SEC) Filings.  NEE and FPL make their SEC filings, including the annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to those reports, available free of charge on NEE's internet website, www.nexteraenergy.com, as soon as reasonably practicable after those documents are electronically filed with or furnished to the SEC.  The information and materials available on NEE's website (or any of its subsidiaries' websites) are not incorporated by reference into this combined Form 10-Q.  The SEC maintains an internet website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC at www.sec.gov.

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PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(millions, except per share amounts)

(unaudited)

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
OPERATING REVENUES	$	4,029		$	3,833		$	7,703		$	7,112
OPERATING EXPENSES
Fuel, purchased power and interchange	1,373			1,262			2,771			2,327
Other operations and maintenance	768			764			1,524			1,520
Impairment charge	—			—			—			300
Depreciation and amortization	614			500			1,076			918
Taxes other than income taxes and other	323			326			642			632
Total operating expenses	3,078			2,852			6,013			5,697
OPERATING INCOME	951			981			1,690			1,415
OTHER INCOME (DEDUCTIONS)
Interest expense	(305		)	(266		)	(624		)	(537		)
Benefits associated with differential membership interests - net	58			42			122			82
Equity in earnings of equity method investees	20			9			22			5
Allowance for equity funds used during construction	6			12			21			38
Interest income	21			19			42			38
Gains on disposal of assets - net	33			9			77			21
Gain (loss) associated with Maine fossil	—			—			21			(67		)
Other - net	—			15			(6		)	12
Total other deductions - net	(167		)	(160		)	(325		)	(408		)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	784			821			1,365			1,007
INCOME TAXES	292			211			444			355
INCOME FROM CONTINUING OPERATIONS	492			610			921			652
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	—			—			—			231
NET INCOME	$	492		$	610		$	921		$	883
Basic earnings per share of common stock:
Continuing operations	$	1.13		$	1.45		$	2.12		$	1.54
Discontinued operations	—			—			—			0.55
Net income	$	1.13		$	1.45		$	2.12		$	2.09
Earnings per share of common stock - assuming dilution:
Continuing operations	$	1.12		$	1.44		$	2.10		$	1.54
Discontinued operations	—			—			—			0.54
Net income	$	1.12		$	1.44		$	2.10		$	2.08
Dividends per share of common stock	$	0.725		$	0.66		$	1.45		$	1.32
Weighted-average number of common shares outstanding:
Basic	434.1			421.8			433.8			421.4
Assuming dilution	440.1			424.8			439.3			424.3

This report should be read in conjunction with the Notes to Condensed Consolidated Financial Statements (Notes) herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

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NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(millions)

(unaudited)

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
NET INCOME	$	492		$	610		$	921		$	883
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX
Net unrealized gains (losses) on cash flow hedges:
Effective portion of net unrealized gains (losses) (net of $3 tax benefit, $25 tax expense, $14 tax benefit and $52 tax expense, respectively)	(7		)	36			(25		)	101
Reclassification from accumulated other comprehensive income to net income (net of $3 tax benefit, $9, $2 and $22 tax expense, respectively)	(4		)	18			5			39
Net unrealized gains (losses) on available for sale securities:
Net unrealized gains on securities still held (net of $22, $1, $31 and $27 tax expense, respectively)	40			2			53			42
Reclassification from accumulated other comprehensive income to net income (net of $3, $3, $18 and $7 tax benefit, respectively)	(5		)	(4		)	(30		)	(10		)
Defined benefit pension and other benefits plans (net of $3 and $4 tax expense, respectively)	—			—			5			7
Net unrealized gains (losses) on foreign currency translation (net of $8 tax expense, $11 tax benefit and $16 tax benefit, respectively)	17			(23		)	—			(32		)
Other comprehensive income (loss) related to equity method investee (net of $2 tax benefit, $3 tax expense, $3 tax benefit and $4 tax expense, respectively)	(3		)	5			(5		)	6
Total other comprehensive income, net of tax	38			34			3			153
COMPREHENSIVE INCOME	$	530		$	644		$	924		$	1,036

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

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NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(millions, except par value)

(unaudited)

	June 30, 2014			December 31, 2013
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	$	65,005		$	62,699
Nuclear fuel	2,062			2,059
Construction work in progress	4,366			4,690
Less accumulated depreciation and amortization	(17,402		)	(16,728		)
Total property, plant and equipment - net ($5,027 and $5,127 related to VIEs, respectively)	54,031			52,720
CURRENT ASSETS
Cash and cash equivalents	622			438
Customer receivables, net of allowances of $15 and $14, respectively	1,978			1,777
Other receivables	314			512
Materials, supplies and fossil fuel inventory	1,178			1,153
Regulatory assets:
Deferred clause and franchise expenses	221			192
Other	117			116
Derivatives	577			498
Deferred income taxes	395			753
Other	697			403
Total current assets	6,099			5,842
OTHER ASSETS
Special use funds	5,034			4,780
Other investments	1,262			1,121
Prepaid benefit costs	1,496			1,456
Regulatory assets:
Securitized storm-recovery costs ($207 and $228 related to a VIE, respectively)	337			372
Other	518			426
Derivatives	894			1,163
Other	1,919			1,426
Total other assets	11,460			10,744
TOTAL ASSETS	$	71,590		$	69,306
CAPITALIZATION
Common stock ($0.01 par value, authorized shares - 800; outstanding shares - 436 and 435, respectively)	$	4		$	4
Additional paid-in capital	6,506			6,411
Retained earnings	11,860			11,569
Accumulated other comprehensive income	59			56
Total common shareholders' equity	18,429			18,040
Long-term debt ($1,117 and $1,207 related to VIEs, respectively)	25,049			23,969
Total capitalization	43,478			42,009
CURRENT LIABILITIES
Commercial paper	1,116			691
Short-term debt	500			—
Current maturities of long-term debt	3,285			3,766
Accounts payable	1,475			1,200
Customer deposits	452			452
Accrued interest and taxes	694			473
Derivatives	686			838
Accrued construction-related expenditures	715			839
Other	767			930
Total current liabilities	9,690			9,189
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,905			1,850
Deferred income taxes	8,227			8,144
Regulatory liabilities:
Accrued asset removal costs	1,731			1,839
Asset retirement obligation regulatory expense difference	2,200			2,082
Other	493			462
Derivatives	561			473
Deferral related to differential membership interests - VIEs	1,871			2,001
Other	1,434			1,257
Total other liabilities and deferred credits	18,422			18,108
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	71,590		$	69,306

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

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NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(millions)

(unaudited)

	Six Months Ended   June 30,
	2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	921		$	883
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,076			918
Nuclear fuel and other amortization	170			177
Impairment charge	—			300
Unrealized losses on marked to market energy contracts	310			68
Deferred income taxes	461			535
Cost recovery clauses and franchise fees	(140		)	(157		)
Benefits associated with differential membership interests - net	(122		)	(82		)
Equity in earnings of equity method investees	(22		)	(5		)
Allowance for equity funds used during construction	(21		)	(38		)
Gains on disposal of assets - net	(77		)	(21		)
Gain from discontinued operations, net of income taxes	—			(231		)
Loss (gain) associated with Maine fossil	(21		)	67
Other - net	233			23
Changes in operating assets and liabilities:
Customer and other receivables	(151		)	(276		)
Materials, supplies and fossil fuel inventory	(20		)	(47		)
Other current assets	(21		)	(50		)
Other assets	(167		)	(52		)
Accounts payable and customer deposits	193			224
Margin cash collateral	(200		)	33
Income taxes	(30		)	(132		)
Interest and other taxes	236			201
Other current liabilities	(142		)	(89		)
Other liabilities	(18		)	1
Net cash provided by operating activities	2,448			2,250
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures of FPL	(1,568		)	(1,465		)
Independent power and other investments of NEER	(1,436		)	(1,510		)
Cash grants under the American Recovery and Reinvestment Act of 2009	306			170
Nuclear fuel purchases	(171		)	(86		)
Other capital expenditures and other investments	(64		)	(93		)
Sale of independent power investments	273			—
Change in loan proceeds restricted for construction	(366		)	207
Proceeds from sale or maturity of securities in special use funds and other investments	2,295			1,907
Purchases of securities in special use funds and other investments	(2,375		)	(1,947		)
Other - net	1			32
Net cash used in investing activities	(3,105		)	(2,785		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	2,729			2,862
Retirements of long-term debt	(2,275		)	(1,425		)
Proceeds from sale of differential membership interests	39			201
Payments to differential membership investors	(42		)	(37		)
Net change in short-term debt	925			(370		)
Issuances of common stock - net	42			9
Dividends on common stock	(630		)	(557		)
Other - net	53			(66		)
Net cash provided by financing activities	841			617
Net increase in cash and cash equivalents	184			82
Cash and cash equivalents at beginning of period	438			329
Cash and cash equivalents at end of period	$	622		$	411
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property additions	$	1,021		$	726
Sale of hydropower generation plants through assumption of debt by buyer	$	—		$	700
Changes in property, plant and equipment as a result of a settlement	$	107		$	—

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

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FLORIDA POWER & LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(millions)

(unaudited)

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
OPERATING REVENUES	$	2,889		$	2,696		$	5,424		$	4,885
OPERATING EXPENSES
Fuel, purchased power and interchange	1,076			1,018			2,112			1,838
Other operations and maintenance	388			426			771			811
Depreciation and amortization	349			248			557			429
Taxes other than income taxes and other	294			280			570			540
Total operating expenses	2,107			1,972			4,010			3,618
OPERATING INCOME	782			724			1,414			1,267
OTHER INCOME (DEDUCTIONS)
Interest expense	(111		)	(104		)	(213		)	(205		)
Allowance for equity funds used during construction	6			12			21			30
Other - net	1			—			2			—
Total other deductions - net	(104		)	(92		)	(190		)	(175		)
INCOME BEFORE INCOME TAXES	678			632			1,224			1,092
INCOME TAXES	255			241			454			413
NET INCOME(a)	$	423		$	391		$	770		$	679

_______________________

(a) FPL's comprehensive income is the same as reported net income.

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

10

FLORIDA POWER & LIGHT COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(millions, except share amount)

(unaudited)

	June 30, 2014			December 31, 2013
ELECTRIC UTILITY PLANT
Plant in service and other property	$	38,566		$	36,838
Nuclear fuel	1,267			1,240
Construction work in progress	1,269			1,818
Less accumulated depreciation and amortization	(11,226		)	(10,944		)
Total electric utility plant - net	29,876			28,952
CURRENT ASSETS
Cash and cash equivalents	58			19
Customer receivables, net of allowances of $6 and $5, respectively	904			757
Other receivables	130			137
Materials, supplies and fossil fuel inventory	774			742
Regulatory assets:
Deferred clause and franchise expenses	221			192
Other	109			105
Other	186			261
Total current assets	2,382			2,213
OTHER ASSETS
Special use funds	3,434			3,273
Prepaid benefit costs	1,166			1,142
Regulatory assets:
Securitized storm-recovery costs ($207 and $228 related to a VIE, respectively)	337			372
Other	484			396
Other	203			140
Total other assets	5,624			5,323
TOTAL ASSETS	$	37,882		$	36,488
CAPITALIZATION
Common stock (no par value, 1,000 shares authorized, issued and outstanding)	$	1,373		$	1,373
Additional paid-in capital	6,279			6,179
Retained earnings	5,802			5,532
Total common shareholder's equity	13,454			13,084
Long-term debt ($300 and $331 related to a VIE, respectively)	8,942			8,473
Total capitalization	22,396			21,557
CURRENT LIABILITIES
Commercial paper	451			204
Current maturities of long-term debt	58			356
Accounts payable	743			611
Customer deposits	448			447
Accrued interest and taxes	571			272
Accrued construction-related expenditures	176			202
Other	382			438
Total current liabilities	2,829			2,530
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,319			1,285
Deferred income taxes	6,534			6,355
Regulatory liabilities:
Accrued asset removal costs	1,731			1,839
Asset retirement obligation regulatory expense difference	2,200			2,082
Other	422			386
Other	451			454
Total other liabilities and deferred credits	12,657			12,401
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	37,882		$	36,488

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

11

FLORIDA POWER & LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(millions)

(unaudited)

	Six Months Ended   June 30,
	2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	770		$	679
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	557			429
Nuclear fuel and other amortization	95			83
Deferred income taxes	287			353
Cost recovery clauses and franchise fees	(140		)	(157		)
Allowance for equity funds used during construction	(21		)	(30		)
Other - net	87			67
Changes in operating assets and liabilities:
Customer and other receivables	(139		)	(118		)
Materials, supplies and fossil fuel inventory	(32		)	(26		)
Other current assets	(8		)	(36		)
Other assets	(82		)	(12		)
Accounts payable and customer deposits	133			159
Income taxes	97			61
Interest and other taxes	209			191
Other current liabilities	(69		)	(83		)
Other liabilities	(21		)	(14		)
Net cash provided by operating activities	1,723			1,546
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,568		)	(1,465		)
Nuclear fuel purchases	(110		)	(41		)
Proceeds from sale or maturity of securities in special use funds	1,799			1,354
Purchases of securities in special use funds	(1,851		)	(1,388		)
Other - net	29			10
Net cash used in investing activities	(1,701		)	(1,530		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	499			498
Retirements of long-term debt	(329		)	(427		)
Net change in short-term debt	247			241
Capital contribution from NEE	100			—
Dividends to NEE	(500		)	(340		)
Other - net	—			2
Net cash provided by (used in) financing activities	17			(26		)
Net increase (decrease) in cash and cash equivalents	39			(10		)
Cash and cash equivalents at beginning of period	19			40
Cash and cash equivalents at end of period	$	58		$	30
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property additions	$	326		$	365

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

12

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The accompanying condensed consolidated financial statements should be read in conjunction with the 2013 Form 10-K.  In the opinion of NEE and FPL management, all adjustments (consisting of normal recurring accruals) considered necessary for fair financial statement presentation have been made.  Certain amounts included in the prior year's condensed consolidated financial statements have been reclassified to conform to the current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements for a discussion of the decision not to pursue the sale of NEER's ownership interests in oil-fired generating plants located in Maine with a total generating capacity of 796 megawatts (MW) (Maine fossil) and the related financial statement impacts. The results of operations for an interim period generally will not give a true indication of results for the year.

1.  Summary of Significant Accounting and Reporting Policies

Revenue Recognition - In May 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard which provides guidance on the recognition of revenue from contracts with customers and requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows from an entity's contracts with customers.  The standard is effective for NEE and FPL beginning January 1, 2017.  NEE and FPL are currently evaluating the effect the adoption of this standard will have, if any, on their consolidated financial statements.

Basis of Presentation - NEE formed NextEra Energy Partners, LP (NEP) to own, operate and acquire contracted clean energy projects with stable, long-term cash flows through a limited partner interest in NextEra Energy Operating Partners, LP (NEP OpCo).  On July 1, 2014, NEP closed its initial public offering by issuing 18,687,500 common units representing limited partnership interests.  The proceeds from the sale of the common units, net of underwriting discounts, commissions and structuring fees, were approximately $438 million.  NEP used such proceeds to purchase 18,687,500 common units of NEP OpCo, of which approximately $288 million was used to purchase common units from an indirect wholly-owned subsidiary of NEE and $150 million was used to purchase common units from NEP OpCo which will use the net proceeds for its general corporate purposes, including to fund future acquisition opportunities.  NEE retained 74,440,000 units of NEP OpCo representing a 79.9% interest in the operating projects owned by NEP.  Additionally, NEE owns a controlling general partner interest in NEP and, beginning July 1, 2014, will consolidate this entity for financial reporting purposes and will present NEP's limited partner interest as a non-controlling interest in NEE's financial statements.  Upon completion of the initial public offering, NEP, through NEER's contribution of energy projects to NEP OpCo, owned a portfolio of ten wind and solar projects with generation capacity totaling approximately 990 MW.

2.  Employee Retirement Benefits

NEE sponsors a qualified noncontributory defined benefit pension plan for substantially all employees of NEE and its subsidiaries and has a supplemental executive retirement plan, which includes a non-qualified supplemental defined benefit pension component that provides benefits to a select group of management and highly compensated employees (collectively, pension benefits).  In addition to pension benefits, NEE sponsors a contributory postretirement plan for health care and life insurance benefits (other benefits) for retirees of NEE and its subsidiaries meeting certain eligibility requirements.

The components of net periodic benefit (income) cost for the plans are as follows:

	Pension Benefits						Other Benefits						Pension Benefits						Other Benefits
	Three Months Ended   June 30,						Three Months Ended   June 30,						Six Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013			2014			2013			2014			2013
	(millions)
Service cost	$	16		$	18		$	1		$	1		$	32		$	36		$	2		$	2
Interest cost	26			24			4			4			51			48			8			8
Expected return on plan assets	(60		)	(59		)	(1		)	—			(120		)	(119		)	(1		)	—
Amortization of prior service cost (benefit)	—			2			—			(1		)	1			4			(1		)	(2		)
Amortization of losses	—			—			—			—			—			1			—			1
Special termination benefits	—			12			—			—			—			12			—			—
Net periodic benefit (income) cost at NEE	$	(18	)	$	(3	)	$	4		$	4		$	(36	)	$	(18	)	$	8		$	9
Net periodic benefit (income) cost at FPL	$	(12	)	$	(2	)	$	3		$	3		$	(23	)	$	(12	)	$	6		$	6

13

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

3.  Derivative Instruments

NEE and FPL use derivative instruments (primarily swaps, options, futures and forwards) to manage the commodity price risk inherent in the purchase and sale of fuel and electricity, as well as interest rate and foreign currency exchange rate risk associated with outstanding and forecasted debt issuances, and to optimize the value of NEER's power generation and gas infrastructure assets.

With respect to commodities related to NEE's competitive energy business, NEER employs risk management procedures to conduct its activities related to optimizing the value of its power generation and gas infrastructure assets, providing full energy and capacity requirements services primarily to distribution utilities, and engaging in power and gas marketing and trading activities to take advantage of expected future favorable price movements and changes in the expected volatility of prices in the energy markets.  These risk management activities involve the use of derivative instruments executed within prescribed limits to manage the risk associated with fluctuating commodity prices.  Transactions in derivative instruments are executed on recognized exchanges or via the OTC markets, depending on the most favorable credit terms and market execution factors.  For NEER's power generation and gas infrastructure assets, derivative instruments are used to hedge the commodity price risk associated with the fuel requirements of the assets, where applicable, as well as to hedge all or a portion of the expected output of these assets.  These hedges are designed to reduce the effect of adverse changes in the wholesale forward commodity markets associated with NEER's power generation and gas infrastructure assets.  With regard to full energy and capacity requirements services, NEER is required to vary the quantity of energy and related services based on the load demands of the customers served.  For this type of transaction, derivative instruments are used to hedge the anticipated electricity quantities required to serve these customers and reduce the effect of unfavorable changes in the forward energy markets.  Additionally, NEER takes positions in the energy markets based on differences between actual forward market levels and management's view of fundamental market conditions, including supply/demand imbalances, changes in traditional flows of energy, changes in short- and long-term weather patterns and anticipated regulatory and legislative outcomes.  NEER uses derivative instruments to realize value from these market dislocations, subject to strict risk management limits around market, operational and credit exposure.

Derivative instruments, when required to be marked to market, are recorded on NEE's and FPL's condensed consolidated balance sheets as either an asset or liability measured at fair value.  At FPL, substantially all changes in the derivatives' fair value are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel and purchased power cost recovery clause (fuel clause).  For NEE's non-rate regulated operations, predominantly NEER, essentially all changes in the derivatives' fair value for power purchases and sales, fuel sales and trading activities are recognized on a net basis in operating revenues; fuel purchases used in the production of electricity are recognized in fuel, purchased power and interchange expense; and the equity method investees' related activity is recognized in equity in earnings of equity method investees in NEE's condensed consolidated statements of income.  Settlement gains and losses are included within the line items in the condensed consolidated statements of income to which they relate.  Transactions for which physical delivery is deemed not to have occurred are presented on a net basis in the condensed consolidated statements of income.  For commodity derivatives, NEE believes that, where offsetting positions exist at the same location for the same time, the transactions are considered to have been netted and therefore physical delivery has been deemed not to have occurred for financial reporting purposes.  Settlements related to derivative instruments are primarily recognized in net cash provided by operating activities in NEE's and FPL's condensed consolidated statements of cash flows.

While most of NEE's derivatives are entered into for the purpose of managing commodity price risk, optimizing the value of NEER's power generation and gas infrastructure assets, reducing the impact of volatility in interest rates on outstanding and forecasted debt issuances and managing foreign currency risk, hedge accounting is only applied where specific criteria are met and it is practicable to do so.  In order to apply hedge accounting, the transaction must be designated as a hedge and it must be highly effective in offsetting the hedged risk.  Additionally, for hedges of forecasted transactions, the forecasted transactions must be probable.  For interest rate and foreign currency derivative instruments, generally NEE assesses a hedging instrument's effectiveness by using nonstatistical methods including dollar value comparisons of the change in the fair value of the derivative to the change in the fair value or cash flows of the hedged item.  Hedge effectiveness is tested at the inception of the hedge and on at least a quarterly basis throughout its life.  The effective portion of the gain or loss on a derivative instrument designated as a cash flow hedge is reported as a component of other comprehensive income (OCI) and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings or when it becomes probable that a forecasted transaction being hedged would not occur.  The ineffective portion of net unrealized gains (losses) on these hedges is reported in earnings in the current period.  In April 2013, NEE discontinued hedge accounting for cash flow hedges related to interest rate swaps associated with the solar projects in Spain (see Note 10 - Spain Solar Projects).  At June 30, 2014, NEE's accumulated other comprehensive income (AOCI) included amounts related to interest rate cash flow hedges with expiration dates through September 2032 and foreign currency cash flow hedges with expiration dates through September 2030.  Approximately $49 million of net losses included in AOCI at June 30, 2014 is expected to be reclassified into earnings within the next 12 months as the principal and/or interest payments are made.  Such amounts assume no change in interest rates, currency exchange rates or scheduled principal payments.

14

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

Fair Value of Derivative Instruments - The tables below present NEE's and FPL's gross derivative positions at June 30, 2014 and December 31, 2013, as required by disclosure rules.  However, the majority of the underlying contracts are subject to master netting agreements and generally would not be contractually settled on a gross basis.  Therefore, the tables below also present the derivative positions on a net basis, which reflect the offsetting of positions of certain transactions within the portfolio, the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral (see Note 4 - Recurring Fair Value Measurements for netting information), as well as the location of the net derivative position on the condensed consolidated balance sheets.

	June 30, 2014
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	5,482	$	4,922	$	1,400	$	974
Interest rate contracts	43		94		—		119		68		238
Foreign currency swaps	—		32		—		—		3		35
Total fair values	$	43	$	126	$	5,482	$	5,041	$	1,471	$	1,247
FPL:
Commodity contracts	$	—	$	—	$	84	$	12	$	84	$	12
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	577
Noncurrent derivative assets(b)									894
Current derivative liabilities(c)											$	686
Noncurrent derivative liabilities(d)											561
Total derivatives									$	1,471	$	1,247
Net fair value by FPL balance sheet line item:
Current other assets									$	81
Noncurrent other assets									3
Current other liabilities											$	1
Noncurrent other liabilities											11
Total derivatives									$	84	$	12

______________________

(a) Reflects the netting of approximately $81 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $68 million in margin cash collateral received from counterparties.

(c) Reflects the netting of approximately $1 million in margin cash collateral provided to counterparties.

(d) Reflects the netting of approximately $14 million in margin cash collateral provided to counterparties.

15

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	December 31, 2013
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	4,543	$	3,633	$	1,571	$	940
Interest rate contracts	89		127		1		93		90		220
Foreign currency swaps	—		50		—		101		—		151
Total fair values	$	89	$	177	$	4,544	$	3,827	$	1,661	$	1,311
FPL:
Commodity contracts	$	—	$	—	$	55	$	9	$	48	$	2
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	498
Noncurrent derivative assets(b)									1,163
Current derivative liabilities											$	838
Noncurrent derivative liabilities											473
Total derivatives									$	1,661	$	1,311
Net fair value by FPL balance sheet line item:
Current other assets									$	48
Current other liabilities											$	1
Noncurrent other liabilities											1
Total derivatives									$	48	$	2

______________________

(a) Reflects the netting of approximately $181 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $98 million in margin cash collateral received from counterparties.

At June 30, 2014 and December 31, 2013, NEE had approximately $20 million and $24 million (none at FPL), respectively, in margin cash collateral received from counterparties that was not offset against derivative assets in the above presentation.  These amounts are included in current other liabilities on NEE's condensed consolidated balance sheets.  Additionally, at June 30, 2014 and December 31, 2013, NEE had approximately $93 million and $42 million (none at FPL), respectively, in margin cash collateral provided to counterparties that was not offset against derivative assets or liabilities in the above presentation.  These amounts are included in current other assets on NEE's condensed consolidated balance sheets.

Income Statement Impact of Derivative Instruments - Gains (losses) related to NEE's cash flow hedges are recorded in NEE's condensed consolidated financial statements (none at FPL) as follows:

	Three Months Ended June 30,
	2014										2013
	Interest Rate Contracts				Foreign Currency Swaps			Total			Interest Rate Contracts				Foreign Currency Swaps				Total
	(millions)
Gains (losses) recognized in OCI	$	(27	)		$	17		$	(10	)	$	65			$	(4	)		$	61
Gains (losses) reclassified from AOCI to net income	$	(16	)	(a)	$	23	(b)	$	7		$	(15	)	(a)	$	(12	)	(b)	$	(27	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $1 million is included in interest expense and the balance is included in other - net.

16

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	Six Months Ended June 30,
	2014										2013
	Interest Rate Contracts				Foreign Currency Swaps			Total				Interest Rate Contracts				Foreign Currency Swaps				Total
	(millions)
Gains (losses) recognized in OCI	$	(54	)		$	15		$	(39	)		$	165			$	(12	)		$	153
Gains (losses) reclassified from AOCI to net income	$	(32	)	(a)	$	25	(b)	$	(7	)		$	(30	)	(a)	$	(31	)	(b)	$	(61	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $2 million is included in interest expense and the balance is included in other - net.

For the three months ended June 30, 2014 and 2013, NEE recorded a gain of approximately $15 million and a loss of $48 million, respectively, on fair value hedges which resulted in a corresponding increase and decrease, respectively, in the related debt. For the six months ended June 30, 2014 and 2013, NEE recorded a gain of approximately $19 million and a loss of $57 million, respectively, on fair value hedges which resulted in a corresponding increase and decrease, respectively, in the related debt.

Gains (losses) related to NEE's derivatives not designated as hedging instruments are recorded in NEE's condensed consolidated statements of income as follows:

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Commodity contracts:(a)
Operating revenues	$	(153	)	$	15		$	(425	)	$	(27	)
Fuel, purchased power and interchange	—			8			(4		)	11
Foreign currency swap - other - net	(6		)	(20		)	(1		)	(52		)
Interest rate contracts - interest expense	(8		)	11			(35		)	11
Total	$	(167	)	$	14		$	(465	)	$	(57	)

————————————

(a) For the three and six months ended June 30, 2014, FPL recorded approximately $11 million and $147 million of gains, respectively, related to commodity contracts as regulatory liabilities on its condensed consolidated balance sheets.  For the three and six months ended June 30, 2013, FPL recorded approximately $149 million and $5 million of losses, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.  

Notional Volumes of Derivative Instruments - The following table represents net notional volumes associated with derivative instruments that are required to be reported at fair value in NEE's and FPL's condensed consolidated financial statements.  The table includes significant volumes of transactions that have minimal exposure to commodity price changes because they are variably priced agreements.  These volumes are only an indication of the commodity exposure that is managed through the use of derivatives.  They do not represent net physical asset positions or non-derivative positions and their hedges, nor do they represent NEE’s and FPL’s net economic exposure, but only the net notional derivative positions that fully or partially hedge the related asset positions.  NEE and FPL had derivative commodity contracts for the following net notional volumes:

	June 30, 2014					December 31, 2013
Commodity Type	NEE			FPL		NEE			FPL
	(millions)
Power	(94	)	MWh(a)	—		(276	)	MWh(a)	—
Natural gas	1,422		MMBtu(b)	884	MMBtu(b)	1,140		MMBtu(b)	674	MMBtu(b)
Oil	(9	)	barrels	—		(10	)	barrels	—

————————————

(a) Megawatt-hours

(b) One million British thermal units

At June 30, 2014 and December 31, 2013, NEE had interest rate contracts with a notional amount totaling approximately $7.1 billion and $6.5 billion, respectively, and foreign currency swaps with a notional amount totaling approximately $661 million and $662 million, respectively.

17

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

Credit-Risk-Related ContingentFeatures - Certain derivative instruments contain credit-risk-related contingent features including, among other things, the requirement to maintain an investment grade credit rating from specified credit rating agencies and certain financial ratios, as well as credit-related cross-default and material adverse change triggers.  At June 30, 2014 and December 31, 2013, the aggregate fair value of NEE's derivative instruments with credit-risk-related contingent features that were in a liability position was approximately $2.0 billion ($12 million for FPL) and $2.1 billion ($9 million for FPL), respectively.

If the credit-risk-related contingent features underlying these agreements and other commodity-related contracts were triggered, certain subsidiaries of NEE, including FPL, could be required to post collateral or settle contracts according to contractual terms which generally allow netting of contracts in offsetting positions.  Certain contracts contain multiple types of credit-related triggers.  To the extent these contracts contain a credit ratings downgrade trigger, the maximum exposure is included in the following credit ratings collateral posting requirements.  If FPL's and NEECH's credit ratings were downgraded to BBB/Baa2 (a two level downgrade for FPL and a one level downgrade for NEECH from the current lowest applicable rating), applicable NEE subsidiaries would be required to post collateral such that the total posted collateral would be approximately $300 million ($20 million at FPL) as of June 30, 2014 and $400 million ($20 million at FPL) as of December 31, 2013.If FPL's and NEECH's credit ratings were downgraded to below investment grade, applicable NEE subsidiaries would be required to post additional collateral such that the total posted collateral would be approximately $2.3 billion ($0.4 billion at FPL) and $2.3 billion ($0.4 billion at FPL) as of June 30, 2014 and December 31, 2013, respectively.  Some contracts do not contain credit ratings downgrade triggers, but do contain provisions that require certain financial measures be maintained and/or have credit-related cross-default triggers.  In the event these provisions were triggered, applicable NEE subsidiaries could be required to post additional collateral of up to approximately $700 million ($200 million at FPL) and $800 million ($150 million at FPL) as of June 30, 2014 and December 31, 2013, respectively.

Collateral related to derivatives may be posted in the form of cash or credit support in the normal course of business.  At June 30, 2014 and December 31, 2013, applicable NEE subsidiaries have posted approximately $39 million (none at FPL) and $210 million (none at FPL), respectively, in the form of letters of credit which could be applied toward the collateral requirements described above.  FPL and NEECH have credit facilities generally in excess of the collateral requirements described above that would be available to support, among other things, derivative activities.  Under the terms of the credit facilities, maintenance of a specific credit rating is not a condition to drawing on these credit facilities, although there are other conditions to drawing on these credit facilities.

Additionally, some contracts contain certain adequate assurance provisions where a counterparty may demand additional collateral based on subjective events and/or conditions.  Due to the subjective nature of these provisions, NEE and FPL are unable to determine an exact value for these items and they are not included in any of the quantitative disclosures above.

4.  Fair Value Measurements

The fair value of assets and liabilities are determined using either unadjusted quoted prices in active markets (Level 1) or pricing inputs that are observable (Level 2) whenever that information is available and using unobservable inputs (Level 3) to estimate fair value only when relevant observable inputs are not available.  NEE and FPL use several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those assets and liabilities that are measured at fair value on a recurring basis.  NEE's and FPL's assessment of the significance of any particular input to the fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  Non-performance risk, including the consideration of a credit valuation adjustment, is also considered in the determination of fair value for all assets and liabilities measured at fair value.

Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less.  NEE primarily holds investments in money market funds.  The fair value of these funds is calculated using current market prices.

Special Use Funds and Other Investments - NEE and FPL hold primarily debt and equity securities directly, as well as indirectly through commingled funds.  Substantially all directly held equity securities are valued at their quoted market prices.  For directly held debt securities, multiple prices and price types are obtained from pricing vendors whenever possible, which enables cross-provider validations.  A primary price source is identified based on asset type, class or issue of each security.  Commingled funds, which are similar to mutual funds, are maintained by banks or investment companies and hold certain investments in accordance with a stated set of objectives.  The fair value of commingled funds is primarily derived from the quoted prices in active markets of the underlying securities.  Because the fund shares are offered to a limited group of investors, they are not considered to be traded in an active market.

Derivative Instruments - NEE and FPL measure the fair value of commodity contracts using prices observed on commodities exchanges and in the OTC markets, or through the use of industry-standard valuation techniques, such as option modeling or discounted cash flows techniques, incorporating both observable and unobservable valuation inputs.  The resulting measurements

18

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

are the best estimate of fair value as represented by the transfer of the asset or liability through an orderly transaction in the marketplace at the measurement date.

Most exchange-traded derivative assets and liabilities are valued directly using unadjusted quoted prices.  For exchange-traded derivative assets and liabilities where the principal market is deemed to be inactive based on average daily volumes and open interest, the measurement is established using settlement prices from the exchanges, and therefore considered to be valued using other observable inputs.

NEE, through its subsidiaries, including FPL, also enters into OTC commodity contract derivatives.  The majority of these contracts are transacted at liquid trading points, and the prices for these contracts are verified using quoted prices in active markets from exchanges, brokers or pricing services for similar contracts.

NEE, through NEER, also enters into full requirements contracts, which, in most cases, meet the definition of derivatives and are measured at fair value.  These contracts typically have one or more inputs that are not observable and are significant to the valuation of the contract.  In addition, certain exchange and non-exchange traded derivative options at NEE have one or more significant inputs that are not observable, and are valued using industry-standard option models.

In all cases where NEE and FPL use significant unobservable inputs for the valuation of a commodity contract, consideration is given to the assumptions that market participants would use in valuing the asset or liability.  The primary input to the valuation models for commodity contracts is the forward commodity curve for the respective instruments.  Other inputs include, but are not limited to, assumptions about market liquidity, volatility, correlation and contract duration as more fully described below in Significant Unobservable Inputs Used in Recurring Fair Value Measurements.  In instances where the reference markets are deemed to be inactive or do not have transactions for a similar contract, the derivative assets and liabilities may be valued using significant other observable inputs and potentially significant unobservable inputs.In such instances, the valuation for these contracts is established using techniques including extrapolation from or interpolation between actively traded contracts, or estimated basis adjustments from liquid trading points.  NEE and FPL regularly evaluate and validate the inputs used to determine fair value by a number of methods, consisting of various market price verification procedures, including the use of pricing services and multiple broker quotes to support the market price of the various commodities.  In all cases where there are assumptions and models used to generate inputs for valuing derivative assets and liabilities, the review and verification of the assumptions, models and changes to the models are undertaken by individuals that are independent of those responsible for estimating fair value.

NEE uses interest rate contracts and foreign currency swaps to mitigate and adjust interest rate and foreign currency exposure related to certain outstanding and forecasted debt issuances and borrowings when deemed appropriate based on market conditions or when required by financing agreements.  NEE estimates the fair value of these derivatives using a discounted cash flows valuation technique based on the net amount of estimated future cash inflows and outflows related to the agreements.

19

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

Recurring Fair Value Measurements - NEE's and FPL's financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:

	June 30, 2014
	Level 1		Level 2			Level 3		Netting(a)			Total
	(millions)
Assets:
Cash equivalents:
NEE - equity securities	$	114	$	—		$	—				$	114
Special use funds:(b)
NEE:
Equity securities	$	1,185	$	1,353	(c)	$	—				$	2,538
U.S. Government and municipal bonds	$	619	$	167		$	—				$	786
Corporate debt securities	$	—	$	662		$	—				$	662
Mortgage-backed securities	$	—	$	485		$	—				$	485
Other debt securities	$	25	$	36		$	—				$	61
FPL:
Equity securities	$	279	$	1,182	(c)	$	—				$	1,461
U.S. Government and municipal bonds	$	512	$	150		$	—				$	662
Corporate debt securities	$	—	$	465		$	—				$	465
Mortgage-backed securities	$	—	$	420		$	—				$	420
Other debt securities	$	25	$	22		$	—				$	47
Other investments:
NEE:
Equity securities	$	43	$	1		$	—				$	44
Debt securities	$	20	$	169		$	—				$	189
Derivatives:
NEE:
Commodity contracts	$	2,217	$	2,213		$	1,052	$	(4,082	)	$	1,400	(d)
Interest rate contracts	$	—	$	43		$	—	$	25		$	68	(d)
Foreign currency swaps	$	—	$	—		$	—	$	3		$	3	(d)
FPL - commodity contracts	$	—	$	80		$	4	$	—		$	84	(d)
Liabilities:
Derivatives:
NEE:
Commodity contracts	$	2,174	$	2,169		$	579	$	(3,948	)	$	974	(d)
Interest rate contracts	$	—	$	94		$	119	$	25		$	238	(d)
Foreign currency swaps	$	—	$	32		$	—	$	3		$	35	(d)
FPL - commodity contracts	$	—	$	11		$	1	$	—		$	12	(d)

————————————

(a) Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.  NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the condensed consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively.

(b) Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at the Carrying Amount below.

(c) Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.

(d) See Note 3 - Fair Value of Derivative Instruments for a reconciliation of net derivatives to NEE's and FPL's condensed consolidated balance sheets.

20

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	December 31, 2013
	Level 1		Level 2			Level 3		Netting(a)			Total
	(millions)
Assets:
Cash equivalents:
NEE - equity securities	$	20	$	—		$	—				$	20
Special use funds:(b)
NEE:
Equity securities	$	1,170	$	1,336	(c)	$	—				$	2,506
U.S. Government and municipal bonds	$	647	$	180		$	—				$	827
Corporate debt securities	$	—	$	597		$	—				$	597
Mortgage-backed securities	$	—	$	479		$	—				$	479
Other debt securities	$	16	$	44		$	—				$	60
FPL:
Equity securities	$	291	$	1,176	(c)	$	—				$	1,467
U.S. Government and municipal bonds	$	584	$	154		$	—				$	738
Corporate debt securities	$	—	$	421		$	—				$	421
Mortgage-backed securities	$	—	$	401		$	—				$	401
Other debt securities	$	16	$	30		$	—				$	46
Other investments:
NEE:
Equity securities	$	51	$	—		$	—				$	51
Debt securities	$	11	$	107		$	—				$	118
Derivatives:
NEE:
Commodity contracts	$	1,368	$	2,106		$	1,069	$	(2,972	)	$	1,571	(d)
Interest rate contracts	$	—	$	90		$	—	$	—		$	90	(d)
FPL - commodity contracts	$	—	$	53		$	2	$	(7	)	$	48	(d)
Liabilities:
Derivatives:
NEE:
Commodity contracts	$	1,285	$	1,994		$	354	$	(2,693	)	$	940	(d)
Interest rate contracts	$	—	$	127		$	93	$	—		$	220	(d)
Foreign currency swaps	$	—	$	151		$	—	$	—		$	151	(d)
FPL - commodity contracts	$	—	$	7		$	2	$	(7	)	$	2	(d)

————————————

(a) Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.  NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the condensed consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively.

(b) Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at the Carrying Amount below.

(c) Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.

(d) See Note 3 - Fair Value of Derivative Instruments for a reconciliation of net derivatives to NEE's and FPL's condensed consolidated balance sheets.

Significant Unobservable Inputs Used in Recurring Fair Value Measurements - The valuation of certain commodity contracts requires the use of significant unobservable inputs.  All forward price, implied volatility, implied correlation and interest rate inputs used in the valuation of such contracts are directly based on third-party market data, such as broker quotes and exchange settlements, when that data is available.  If third-party market data is not available, then industry standard methodologies are used to develop inputs that maximize the use of relevant observable inputs and minimize the use of unobservable inputs.  Observable inputs, including some forward prices, implied volatilities and interest rates used for determining fair value are updated daily to reflect the best available market information.  Unobservable inputs which are related to observable inputs, such as illiquid portions of forward price or volatility curves, are updated daily as well, using industry standard techniques such as interpolation and extrapolation, combining observable forward inputs supplemented by historical market and other relevant data.  Other unobservable inputs, such as implied correlations, customer migration rates from full requirements contracts and some implied volatility curves, are modeled using proprietary models based on historical data and industry standard techniques.

21

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

All price, volatility, correlation and customer migration inputs used in valuation are subject to validation by the Trading Risk Management group.  The Trading Risk Management group performs a risk management function responsible for assessing credit, market and operational risk impact, reviewing valuation methodology and modeling, confirming transactions, monitoring approval processes and developing and monitoring trading limits.  The Trading Risk Management group is separate from the transacting group.  For markets where independent third-party data is readily available, validation is conducted daily by directly reviewing this market data against inputs utilized by the transacting group, and indirectly by critically reviewing daily risk reports.  For markets where independent third-party data is not readily available, additional analytical reviews are performed on at least a quarterly basis.  These analytical reviews are designed to ensure that all price and volatility curves used for fair valuing transactions are adequately validated each quarter, and are reviewed and approved by the Trading Risk Management group.  In addition, other valuation assumptions such as implied correlations and customer migration rates are reviewed and approved by the Trading Risk Management group on a periodic basis.  Newly created models used in the valuation process are also subject to testing and approval by the Trading Risk Management group prior to use and established models are reviewed annually, or more often as needed, by the Trading Risk Management group.

On a monthly basis, the Exposure Management Committee (EMC), which is comprised of certain members of senior management, meets with representatives from the Trading Risk Management group and the transacting group to discuss NEE's and FPL's energy risk profile and operations, to review risk reports and to discuss fair value issues as necessary.  The EMC develops guidelines required for an appropriate risk management control infrastructure, which includes implementation and monitoring of compliance with Trading Risk Management policy.  The EMC executes its risk management responsibilities through direct oversight and delegation of its responsibilities to the Trading Risk Management group, as well as to other corporate and business unit personnel.

The significant unobservable inputs used in the valuation of NEE's commodity contracts categorized as Level 3 of the fair value hierarchy at June 30, 2014 are as follows:

Transaction Type	Fair Value at June 30, 2014				Valuation Technique(s)	Significant Unobservable Inputs	Range
	Assets		Liabilities
	(millions)
Forward contracts - power	$	518	$	104	Discounted cash flow	Forward price (per MWh)	$8	—	$169
Forward contracts - gas	105		35		Discounted cash flow	Forward price (per MMBtu)	$2	—	$18
Forward contracts - other commodity related	24		40		Discounted cash flow	Forward price (various)	$1	—	$112
Options - power	133		123		Option models	Implied correlations	10%	—	96%
						Implied volatilities	1%	—	431%
Options - gas	65		123		Option models	Implied correlations	10%	—	96%
						Implied volatilities	1%	—	95%
Full requirements and unit contingent contracts	207		154		Discounted cash flow	Forward price (per MWh)	$(11)	—	$219
						Customer migration rate(a)	—%	—	20%
Total	$	1,052	$	579

——————————

(a) Applies only to full requirements contracts.

The sensitivity of NEE's fair value measurements to increases (decreases) in the significant unobservable inputs is as follows:

Significant Unobservable Input	Position	Impact on Fair Value Measurement
Forward price	Purchase power/gas	Increase (decrease)
	Sell power/gas	Decrease (increase)
Implied correlations	Purchase option	Decrease (increase)
	Sell option	Increase (decrease)
Implied volatilities	Purchase option	Increase (decrease)
	Sell option	Decrease (increase)
Customer migration rate	Sell power(a)	Decrease (increase)

————————————

(a)  Assumes the contract is in a gain position.

In addition, the fair value measurement of interest rate swap liabilities related to the solar projects in Spain of approximately $119 million at June 30, 2014 includes a significant credit valuation adjustment.  The credit valuation adjustment, considered an

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NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

unobservable input, reflects management's assessment of non-performance risk of the subsidiaries related to the solar projects in Spain that are party to the swap agreements.

The reconciliation of changes in the fair value of derivatives that are based on significant unobservable inputs is as follows:

	Three Months Ended June 30,
	2014						2013
	NEE			FPL			NEE			FPL
	(millions)
Fair value of net derivatives based on significant unobservable inputs at March 31	$	460		$	3		$	522		$	2
Realized and unrealized gains (losses):
Included in earnings(a)	(73		)	—			13			—
Included in regulatory assets and liabilities	1			1			(3		)	(3		)
Purchases	10			—			21			—
Settlements	38			(1		)	(23		)	—
Issuances	(75		)	—			(30		)	—
Transfers in(b)	9			—			(114		)	—
Transfers out(b)	(16		)	—			(2		)	—
Fair value of net derivatives based on significant unobservable inputs at June 30	$	354		$	3		$	384		$	(1	)
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)	$	(73	)	$	—		$	12		$	—

————————————

(a) For the three months ended June 30, 2014, realized and unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the three months ended June 30, 2013, realized and unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

(b) Transfers into Level 3 were a result of decreased observability of market data and, in 2013, a significant credit valuation adjustment.  Transfers from Level 3 to Level 2 were a result of increased observability of market data.  NEE's and FPL's policy is to recognize all transfers at the beginning of the reporting period.

(c) For the three months ended June 30, 2014, unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the three months ended June 30, 2013, unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

23

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	Six Months Ended June 30,
	2014						2013
	NEE			FPL			NEE			FPL
	(millions)
Fair value of net derivatives based on significant unobservable inputs at December 31 of prior year	$	622		$	—		$	566		$	2
Realized and unrealized gains (losses):
Included in earnings(a)	(496		)	—			10			—
Included in regulatory assets and liabilities	5			5			(2		)	(2		)
Purchases	14			—			70			—
Settlements	304			(2		)	(56		)	(1		)
Issuances	(94		)	—			(94		)	—
Transfers in(b)	16			—			(114		)	—
Transfers out(b)	(17		)	—			4			—
Fair value of net derivatives based on significant unobservable inputs at June 30	$	354		$	3		$	384		$	(1	)
The amount of gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)	$	(260	)	$	—		$	40		$	—

————————————

(a) For the six months ended June 30, 2014, realized and unrealized losses of approximately $453 million are reflected in the condensed consolidated statements of income in operating revenues, $41 million in interest expense and the balance is reflected in fuel, purchased power and interchange.  For the six months ended June 30, 2013, realized and unrealized gains (losses) of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense, $1 million in operating revenues and the balance is reflected in fuel, purchased power and interchange.

(b) Transfers into Level 3 were a result of decreased observability of market data and, in 2013, a significant credit valuation adjustment.  Transfers from Level 3 to Level 2 were a result of increased observability of market data.  NEE's and FPL's policy is to recognize all transfers at the beginning of the reporting period.

(c) For the six months ended June 30, 2014, unrealized losses of approximately $219 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the six months ended June 30, 2013, unrealized gains (losses) of approximately $32 million are reflected in the condensed consolidated statements of income in operating revenues, $11 million in interest expense and the balance is reflected in fuel, purchased power and interchange.

Nonrecurring Fair Value Measurements - NEE tests long-lived assets for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.  In February 2013, the Spanish government enacted a new law that made further changes to the economic framework of renewable energy projects including, among other things, changes that negatively affect the projected economics of the 99.8 MW of solar thermal facilities that affiliates of NEER were constructing in Spain (Spain solar projects) (see Note 10 - Spain Solar Projects).  Due to the February 2013 change in law, NEER performed a recoverability analysis, considering, among other things, working with lenders to restructure the financing agreements, abandoning the projects or selling the projects, and concluded that the undiscounted cash flows of the Spain solar projects were less than the carrying value of the projects.  Accordingly, NEER performed a fair value analysis based on the income approach to determine the amount of the impairment.  Based on the fair value analysis, property, plant and equipment with a carrying amount of approximately $800 million were written down to their estimated fair value of $500 million as of March 31, 2013, resulting in an impairment of $300 million (which is recorded as a separate line item in NEE’s condensed consolidated statements of income for the six months ended June 30, 2013) and other related charges ($342 million after-tax, see Note 5).

The estimate of the fair value was based on the discounted cash flows which were determined using a market participant view of the Spain solar projects upon completion and final commissioning of the projects.  As part of the valuation, NEER used observable inputs where available, including the revised renewable energy pricing under the February 2013 change in law.  Significant unobservable inputs (Level 3), including forecasts of generation, estimates of tariff escalation rates and estimated costs of debt and equity capital, were also used in the estimation of fair value.  In addition, NEER made certain assumptions regarding the projected capital and maintenance expenditures based on the estimated costs to complete the Spain solar projects and ongoing capital and maintenance expenditures.  An increase in the revenue and generation forecasts, a decrease in the projected capital and maintenance expenditures or a decrease in the weighted-average cost of capital each would result in an increased fair market value.  Changes in the opposite direction of those unobservable inputs would result in a decreased fair market value.  See Note 10 - Spain Solar Projects for a discussion of additional developments that could potentially impact the Spain solar projects.

In March 2013, NEER initiated a plan and received internal authorization to pursue the sale of its ownership interests in Maine fossil.  In connection with the decision to sell Maine fossil, a loss of approximately $67 million ($43 million after-tax) was originally reflected in net gain from discontinued operations, net of income taxes in NEE's condensed consolidated statements of income for the six months ended June 30, 2013.  The fair value measurement (Level 3) was based on the estimated sales price less the estimated costs to sell.  The estimated sales price was estimated using an income approach based primarily on capacity revenue

24

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

forecasts.  In March 2014, NEER decided not to pursue the sale of Maine fossil due to the divergence between the achievable sales price and management's view of the assets' value, which increased as a result of significant market changes. Accordingly, the Maine fossil assets were written-up to management's current estimate of fair value resulting in a gain of approximately $21 million ($12 million after-tax). The fair value measurement (Level 3) was estimated using an income approach based primarily on the updated capacity revenue forecasts. Based on NEER's decision to retain Maine fossil, the $67 million loss recorded during the six months ended June 30, 2013 was reclassified from discontinued operations to income from continuing operations and together with the $21 million gain recorded during the six months ended June 30, 2014 are included as a separate line item in NEE's condensed consolidated statements of income. The carrying amount of the assets and liabilities and the operations of Maine fossil for all periods presented were not material.

Fair Value of Financial Instruments Recorded at the Carrying Amount - The carrying amounts of cash equivalents, short-term debt and commercial paper approximate their fair values.  The carrying amounts and estimated fair values of other financial instruments, excluding those recorded at fair value and disclosed above in Recurring Fair Value Measurements, are as follows:

	June 30, 2014					December 31, 2013
	Carrying Amount		Estimated Fair Value			Carrying Amount		Estimated Fair Value
	(millions)
NEE:
Special use funds(a)	$	502	$	502		$	311	$	311
Other investments - primarily notes receivable	$	522	$	689	(b)	$	531	$	627	(b)
Long-term debt, including current maturities	$	28,328	$	30,448	(c)	$	27,728	$	28,612	(c)
FPL:
Special use funds(a)	$	379	$	379		$	200	$	200
Long-term debt, including current maturities	$	9,000	$	10,253	(c)	$	8,829	$	9,451	(c)

————————————

(a) Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis.

(b) Primarily classified as held to maturity.  Fair values are primarily estimated using a discounted cash flow valuation technique based on certain observable yield curves and indices considering the credit profile of the borrower (Level 3).  Notes receivable bear interest primarily at fixed rates and mature by 2029.  Notes receivable are considered impaired and placed in non-accrual status when it becomes probable that all amounts due cannot be collected in accordance with the contractual terms of the agreement.  The assessment to place notes receivable in non-accrual status considers various credit indicators, such as credit ratings and market-related information.  As of June 30, 2014 and December 31, 2013, NEE had no notes receivable reported in non-accrual status.

(c) As of June 30, 2014 and December 31, 2013, for NEE, $19,196 million and $17,921 million, respectively, is estimated using quoted market prices for the same or similar issues (Level 2); the balance is estimated using a discounted cash flow valuation technique, considering the current credit spread of the debtor (Level 3).  For FPL, estimated using quoted market prices for the same or similar issues (Level 2).

Special Use Funds - The special use funds noted above and those carried at fair value (see Recurring Fair Value Measurements) consist of FPL's storm fund assets of approximately $75 million and NEE's and FPL's nuclear decommissioning fund assets of $4,959 million and $3,359 million, respectively, at June 30, 2014.  The investments held in the special use funds consist of equity and debt securities which are primarily classified as available for sale and carried at estimated fair value.  The amortized cost of debt and equity securities is $1,934 million and $1,333 million, respectively, at June 30, 2014 and $1,954 million and $1,384 million, respectively, at December 31, 2013 ($1,545 million and $618 million, respectively, at June 30, 2014 and $1,595 million and $694 million, respectively, at December 31, 2013 for FPL). For FPL's special use funds, consistent with regulatory treatment, changes in fair value, including any other than temporary impairment losses, result in a corresponding adjustment to the related regulatory liability accounts.  For NEE's non-rate regulated operations, changes in fair value result in a corresponding adjustment to OCI, except for unrealized losses associated with marketable securities considered to be other than temporary, including any credit losses, which are recognized as other than temporary impairment losses on securities held in nuclear decommissioning funds and included in other - net in NEE's condensed consolidated statements of income.  Debt securities included in the nuclear decommissioning funds have a weighted-average maturity at June 30, 2014 of approximately seven years at both NEE and FPL.  FPL's storm fund primarily consists of debt securities with a weighted-average maturity at June 30, 2014 of approximately three years.  The cost of securities sold is determined using the specific identification method.

25

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

Realized gains and losses and proceeds from the sale or maturity of available for sale securities are as follows:

	NEE				FPL				NEE				FPL
	Three Months Ended   June 30,				Three Months Ended   June 30,				Six Months Ended   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013		2014		2013		2014		2013
	(millions)
Realized gains	$	71	$	21	$	56	$	8	$	148	$	63	$	88	$	31
Realized losses	$	83	$	13	$	76	$	8	$	105	$	43	$	93	$	30
Proceeds from sale or maturity of securities	$	813	$	858	$	637	$	669	$	2,214	$	1,782	$	1,799	$	1,354

The unrealized gains on available for sale securities are as follows:

	NEE				FPL
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
	(millions)
Equity securities	$	1,200	$	1,125	$	838	$	777
Debt securities	$	64	$	42	$	53	$	36

The unrealized losses on available for sale debt securities and the fair value of available for sale debt securities in an unrealized loss position are as follows:

	NEE				FPL
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
	(millions)
Unrealized losses(a)	$	5	$	32	$	4	$	25
Fair value	$	305	$	1,069	$	231	$	844

————————————

(a) Unrealized losses on available for sale debt securities for securities in an unrealized loss position for greater than twelve months at June 30, 2014 and December 31, 2013 were not material to NEE or FPL.

Regulations issued by the Federal Energy Regulatory Commission (FERC) and the NRC provide general risk management guidelines to protect nuclear decommissioning funds and to allow such funds to earn a reasonable return.  The FERC regulations prohibit, among other investments, investments in any securities of NEE or its subsidiaries, affiliates or associates, excluding investments tied to market indices or mutual funds.  Similar restrictions applicable to the decommissioning funds for NEER's nuclear plants are included in the NRC operating licenses for those facilities or in NRC regulations applicable to NRC licensees not in cost-of-service environments.  With respect to the decommissioning fund for NEER's Seabrook Station (Seabrook), decommissioning fund contributions and withdrawals are also regulated by the Nuclear Decommissioning Financing Committee pursuant to New Hampshire law.

The nuclear decommissioning reserve funds are managed by investment managers who must comply with the guidelines of NEE and FPL and the rules of the applicable regulatory authorities.  The funds' assets are invested giving consideration to taxes, liquidity, risk, diversification and other prudent investment objectives.

5.  Income Taxes

NEE's effective income tax rates for the three months ended June 30, 2014 and 2013 were approximately 37% and 26%, respectively.  The rates for both periods reflect the benefit of wind production tax credits (PTCs) of approximately $49 million and $66 million, respectively, related to NEER's wind projects and deferred income tax benefits associated with grants (convertible investment tax credits (ITCs)) under the American Recovery and Reinvestment Act of 2009, as amended (Recovery Act), of approximately $10 million and $21 million, respectively, primarily for certain wind and solar projects expected to be placed in service. 

NEE's effective income tax rates for the six months ended June 30, 2014 and 2013 were approximately 33% and 35%, respectively.   The rates for both periods reflect the benefit of PTCs of approximately $98 million and $125 million, respectively,

26

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

related to NEER's wind projects and deferred income tax benefits associated with convertible ITCs of approximately $22 million and $33 million, respectively, primarily for certain wind and solar projects expected to be placed in service.

In addition, the rates for the three and six months ended June 30, 2014 reflect a noncash income tax charge of approximately $45 million associated with structuring Canadian assets and for the six months ended June 30, 2013 reflect the establishment of a full valuation allowance during the first quarter of 2013 of approximately $132 million on the deferred tax assets associated with the Spain solar projects.  The valuation allowance primarily related to deferred tax assets created as a result of the $300 million impairment and other related charges ($342 million after-tax) recorded during the first quarter of 2013 (see Note 4 - Nonrecurring Fair Value Measurements). 

NEE recognizes PTCs as wind energy is generated and sold based on a per kilowatt-hour (kWh) rate prescribed in applicable federal and state statutes, which may differ significantly from amounts computed, on a quarterly basis, using an overall effective income tax rate anticipated for the full year.  NEE uses this method of recognizing PTCs for specific reasons, including that PTCs are an integral part of the financial viability of most wind projects and a fundamental component of such wind projects' results of operations.  PTCs, as well as deferred income tax benefits associated with convertible ITCs, can significantly affect NEE's effective income tax rate depending on the amount of pretax income.  The amount of PTCs recognized can be significantly affected by wind generation and by the roll off of PTCs after ten years of production (PTC roll off).

6.  Discontinued Operations

In March 2013, a subsidiary of NEER completed the sale of its ownership interest in a portfolio of hydropower generation plants and related assets (hydro sale) with a total generating capacity of 351 MW located in Maine and New Hampshire.  The sales price primarily included the assumption by the buyer of $700 million in related debt.In connection with the sale, a gain of approximately $372 million ($231 million after-tax) is reflected in gain from discontinued operations, net of income taxes in NEE's condensed consolidated statements of income for the six months ended June 30, 2013.  The operations of the hydropower generation plants, exclusive of the gain, were not material to NEE's condensed consolidated statements of income for the six months ended June 30, 2013.

See Note 4 - Nonrecurring Fair Value Measurements for a discussion of the decision not to pursue the sale of Maine fossil and the related financial statement impacts.

7.  Variable Interest Entities (VIEs)

As of June 30, 2014, NEE has fourteen VIEs which it consolidates and has interests in certain other VIEs which it does not consolidate.

FPL - FPL is considered the primary beneficiary of, and therefore consolidates, a VIE that is a wholly-owned bankruptcy remote special purpose subsidiary that it formed in 2007 for the sole purpose of issuing storm-recovery bonds pursuant to the securitization provisions of the Florida Statutes and a financing order of the FPSC.  FPL is considered the primary beneficiary because FPL has the power to direct the significant activities of the VIE, and its equity investment, which is subordinate to the bondholder's interest in the VIE, is at risk.  Storm restoration costs incurred by FPL during 2005 and 2004 exceeded the amount in FPL's funded storm and property insurance reserve, resulting in a storm reserve deficiency.  In 2007, the VIE issued $652 million aggregate principal amount of senior secured bonds (storm-recovery bonds), primarily for the after-tax equivalent of the total of FPL's unrecovered balance of the 2004 storm restoration costs, the 2005 storm restoration costs and to reestablish FPL's storm and property insurance reserve.  In connection with this financing, net proceeds, after debt issuance costs, to the VIE (approximately $644 million) were used to acquire the storm-recovery property, which includes the right to impose, collect and receive a storm-recovery charge from all customers receiving electric transmission or distribution service from FPL under rate schedules approved by the FPSC or under special contracts, certain other rights and interests that arise under the financing order issued by the FPSC and certain other collateral pledged by the VIE that issued the bonds.  The storm-recovery bonds are payable only from and are secured by the storm-recovery property.  The bondholders have no recourse to the general credit of FPL.  The assets of the VIE were approximately $297 million and $324 million at June 30, 2014 and December 31, 2013, respectively, and consisted primarily of storm-recovery property, which are included in securitized storm-recovery costs on NEE's and FPL's condensed consolidated balance sheets.  The liabilities of the VIE were approximately $365 million and $394 million at June 30, 2014 and December 31, 2013, respectively, and consisted primarily of storm-recovery bonds, which are included in long-term debt on NEE's and FPL's condensed consolidated balance sheets.

FPL identified a potential VIE, which is considered a qualifying facility as defined by the Public Utility Regulatory Policies Act of 1978, as amended (PURPA).  PURPA requires utilities, such as FPL, to purchase the electricity output of a qualifying facility.  FPL entered into a purchased power agreement effective in 1994 with this 250 MW coal-fired qualifying facility to purchase substantially all of the facility's capacity and electrical output over a substantial portion of its estimated useful life.  FPL absorbs a portion of the facility's variability related to changes in the market price of coal through the price it pays per MWh (energy payment).  After making exhaustive efforts, FPL was unable to obtain the information from the facility necessary to determine whether the facility is a VIE

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NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

or whether FPL is the primary beneficiary of the facility.  The purchased power agreement with the facility contains no provision which legally obligates the facility to release this information to FPL.  The energy payments paid by FPL will fluctuate as coal prices change.  This fluctuation does not expose FPL to losses since the energy payments paid by FPL to the facility are recovered through the fuel clause as approved by the FPSC.  Notwithstanding the fact that FPL's energy payments are recovered through the fuel clause, if the facility was determined to be a VIE, the absorption of some of the facility's fuel price variability might cause FPL to be considered the primary beneficiary.  During the three months ended June 30, 2014 and 2013, FPL purchased 246,544 MWh and 202,661 MWh, respectively, from the facility at a total cost of approximately $40 million and $38 million, respectively. During the six months ended June 30, 2014 and 2013, FPL purchased 375,484 MWh and 281,871 MWh, respectively, from the facility at a total cost of approximately $76 million and $73 million, respectively.

Additionally, FPL entered into a purchased power agreement effective in 1995 with a 330 MW coal-fired qualifying facility to purchase substantially all of the facility's electrical output over a substantial portion of its estimated useful life.  The facility is considered a VIE because FPL absorbs a portion of the facility’s variability related to changes in the market price of coal through the energy payment.  Since FPL does not control the most significant activities of the facility, including operations and maintenance, FPL is not the primary beneficiary and does not consolidate this VIE.  The energy payments paid by FPL will fluctuate as coal prices change.  This fluctuation does not expose FPL to losses since the energy payments paid by FPL to the facility are recovered through the fuel clause as approved by the FPSC.

NEER - NEE consolidates thirteen NEER VIEs.  NEER is considered the primary beneficiary of these VIEs since NEER controls the most significant activities of these VIEs, including operations and maintenance, and through its 100% equity ownership has the obligation to absorb expected losses of these VIEs.

A NEER VIE consolidates two entities which own and operate natural gas/oil electric generating facilities with the capability of producing 110 MW.  This VIE sells its electric output under power sales contracts to a third party, with expiration dates in 2018 and 2020.  The power sales contracts provide the offtaker the ability to dispatch the facilities and require the offtaker to absorb the cost of fuel.  This VIE uses third-party debt and equity to finance its operations.  The debt is secured by liens against the generating facilities and the other assets of these entities.  The debt holders have no recourse to the general credit of NEER for the repayment of debt.  The assets and liabilities of the VIE were approximately $87 million and $61 million, respectively, at June 30, 2014 and $85 million and $63 million, respectively, at December 31, 2013, and consisted primarily of property, plant and equipment and long-term debt.

The other twelve NEER VIEs consolidate several entities which own and operate wind electric generating facilities with the capability of producing a total of 3,541 MW.  Ten of these VIEs sell their electric output under power sales contracts to third parties with expiration dates ranging from 2018 through 2038; the other two VIEs sell their electric output in the spot market.  The VIEs use third-party debt and/or equity to finance their operations.  Certain investors that hold no equity interest in the VIEs hold differential membership interests, which give them the right to receive a portion of the economic attributes of the generating facilities, including certain tax attributes.  The debt is secured by liens against the generating facilities and the other assets of these entities or by pledges of NEER's ownership interest in these entities.  The debt holders have no recourse to the general credit of NEER for the repayment of debt.  The assets and liabilities of these VIEs totaled approximately $5.2 billion and $3.1 billion, respectively, at June 30, 2014 and $5.3 billion and $3.3 billion, respectively, at December 31, 2013.  At June 30, 2014 and December 31, 2013, the assets and liabilities of the VIEs consisted primarily of property, plant and equipment, deferral related to differential membership interests and long-term debt.

Other - As of June 30, 2014 and December 31, 2013, several NEE subsidiaries have investments totaling approximately $603 million ($491 million at FPL) and $668 million ($505 million at FPL), respectively, in certain special purpose entities, which consisted primarily of investments in mortgage-backed securities.  These investments are included in special use funds and other investments on NEE's condensed consolidated balance sheets and in special use funds on FPL's condensed consolidated balance sheets.  As of June 30, 2014, NEE subsidiaries are not the primary beneficiary and therefore do not consolidate any of these entities because they do not control any of the ongoing activities of these entities, were not involved in the initial design of these entities and do not have a controlling financial interest in these entities.

28

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

8.  Common Shareholders' Equity

Earnings Per Share - The reconciliation of NEE's basic and diluted earnings per share of common stock from continuing operations is as follows:

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013
	(millions, except per share amounts)
Numerator - income from continuing operations	$	492	$	610	$	921	$	652
Denominator:
Weighted-average number of common shares outstanding - basic	434.1		421.8		433.8		421.4
Equity units, performance share awards, options, forward sale agreement and restricted stock(a)	6.0		3.0		5.5		2.9
Weighted-average number of common shares outstanding - assuming dilution	440.1		424.8		439.3		424.3
Earnings per share of common stock from continuing operations:
Basic	$	1.13	$	1.45	$	2.12	$	1.54
Assuming dilution	$	1.12	$	1.44	$	2.10	$	1.54

————————————

(a) Calculated using the treasury stock method.  Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.

Common shares issuable pursuant to stock options and performance shares awards and restricted stock which were not included in the denominator above due to their antidilutive effect were approximately 0.2 million and 0.3 million for the three months ended June 30, 2014 and 2013, respectively, and 0.2 million and 0.3 million for the six months ended June 30,2014 and 2013, respectively.

Accumulated Other Comprehensive Income (Loss) - The components of AOCI, net of tax, are as follows:

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Three Months Ended June 30, 2014
Balances, March 31, 2014	$	(124	)		$	185			$	28	$	(50	)	$	(18	)	$	21
Other comprehensive income (loss) before reclassifications	(7		)		40				—		17			(3		)	47
Amounts reclassified from AOCI	(4		)	(a)	(5		)	(b)	—		—			—			(9		)
Net other comprehensive income (loss)	(11		)		35				—		17			(3		)	38
Balances, June 30, 2014	$	(135	)		$	220			$	28	$	(33	)	$	(21	)	$	59

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

29

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Three Months Ended June 30, 2013
Balances, March 31, 2013	$	(180	)		$	130			$	(67	)	$	3		$	(22	)	$	(136	)
Other comprehensive income (loss) before reclassifications	36				2				—			(23		)	5			20
Amounts reclassified from AOCI	18			(a)	(4		)	(b)	—			—			—			14
Net other comprehensive income (loss)	54				(2		)		—			(23		)	5			34
Balances, June 30, 2013	$	(126	)		$	128			$	(67	)	$	(20	)	$	(17	)	$	(102	)

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Six Months Ended June 30, 2014
Balances, December 31, 2013	$	(115	)		$	197			$	23	$	(33	)	$	(16	)	$	56
Other comprehensive income (loss) before reclassifications	(25		)		53				4		—			(5		)	27
Amounts reclassified from AOCI	5			(a)	(30		)	(b)	1		—			—			(24		)
Net other comprehensive income (loss)	(20		)		23				5		—			(5		)	3
Balances, June 30, 2014	$	(135	)		$	220			$	28	$	(33	)	$	(21	)	$	59

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Six Months Ended June 30, 2013
Balances, December 31, 2012	$	(266	)		$	96			$	(74	)	$	12		$	(23	)	$	(255	)
Other comprehensive income (loss) before reclassifications	101				42				6			(32		)	6			123
Amounts reclassified from AOCI	39			(a)	(10		)	(b)	1			—			—			30
Net other comprehensive income (loss)	140				32				7			(32		)	6			153
Balances, June 30, 2013	$	(126	)		$	128			$	(67	)	$	(20	)	$	(17	)	$	(102	)

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

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NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

9.  Debt

Significant long-term debt issuances and borrowings by subsidiaries of NEE during the six months ended June 30, 2014 were as follows:

Date Issued	Company	Debt Issuances/Borrowings	Interest Rate			Principal Amount		Maturity Date
						(millions)
January - June 2014	NEER subsidiary	Canadian revolving credit agreements	Variable		(a)	$	492	Various
January 2014	NEER subsidiary	Senior secured limited-recourse term loan	Variable		(a)	$	44	2019
March 2014	NEECH	Debentures	2.700	%	(b)	$	350	2019
May 2014	FPL	First mortgage bonds	3.25	%		$	500	2024
June 2014	NEECH	Debentures	2.40	%	(b)	$	350	2019
June 2014	NEER subsidiary	Senior secured limited-recourse notes	5.60	%		$	280	2038
June 2014	NEER subsidiary	Canadian senior secured limited-recourse term loan	Variable		(a)(b)	$	157	2032
June 2014	NEECH	Japanese yen denominated term loan	Variable		(a)(b)(c)	$	540	2017

————————————

(a) Variable rate is based on an underlying index plus a margin.

(b) Interest rate swap agreements have been entered into with respect to these issuances.  See Note 3.

(c) Cross currency basis swap agreements were entered into with respect to both interest and principal payments on this loan.

In July 2014, Lone Star Transmission, LLC (Lone Star), an indirect wholly-owned subsidiary of NEECH, issued $360 million in aggregate principal amount of senior secured notes with interest rates ranging from 2.45% to 4.42%.  The maturity dates of the notes range from 2021 to 2044.

In July 2014, an indirect wholly-owned subsidiary of NEECH, which conducts a portion of the fiber-optic telecommunications business, entered into and borrowed $400 million under a variable rate senior secured limited-recourse term loan agreement maturing in 2019. An interest rate swap agreement was entered into with respect to this borrowing.

10.  Commitments and Contingencies

Commitments - NEE and its subsidiaries have made commitments in connection with a portion of their projected capital expenditures.  Capital expenditures at FPL include, among other things, the cost for construction or acquisition of additional facilities and equipment to meet customer demand, as well as capital improvements to and maintenance of existing facilities and the procurement of nuclear fuel.  At NEER, capital expenditures include, among other things, the cost, including capitalized interest, for construction and development of wind and solar projects and the procurement of nuclear fuel.  Capital expenditures for Corporate and Other primarily include the cost for construction of a natural gas pipeline system for new natural gas transportation infrastructure in Florida, as well as the cost to meet customer-specific requirements and maintain the fiber-optic network for the fiber-optic telecommunications business (FPL FiberNet) and the cost to maintain existing transmission facilities at NextEra Energy Transmission, LLC (NEET).

31

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

At June 30, 2014, estimated capital expenditures for the remainder of 2014 through 2018 were as follows:

	Remainder of 2014		2015		2016		2017		2018		Total
	(millions)
FPL:
Generation:(a)
New(b)(c)	$	330	$	275	$	90	$	—	$	—	$	695
Existing	410		670		615		580		545		2,820
Transmission and distribution	750		1,205		1,125		955		1,025		5,060
Nuclear fuel	75		205		220		190		180		870
General and other	115		155		120		165		160		715
Total(d)	$	1,680	$	2,510	$	2,170	$	1,890	$	1,910	$	10,160
NEER:
Wind(e)	$	1,005	$	705	$	70	$	5	$	10	$	1,795
Solar(f)	365		850		405		—		—		1,620
Nuclear(g)	190		285		305		245		255		1,280
Other(h)	250		110		75		45		80		560
Total	$	1,810	$	1,950	$	855	$	295	$	345	$	5,255
Corporate and Other(i)	$	150	$	470	$	785	$	200	$	95	$	1,700

————————————

(a) Includes allowance for funds used during construction (AFUDC) of approximately $21 million, $53 million and $17 million for the remainder of 2014 through 2016, respectively.

(b) Includes land, generating structures, transmission interconnection and integration and licensing.

(c) Consists of projects that have received FPSC approval. Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.

(d) FPL has identified $1.5 billion to $2.5 billion in potential incremental capital expenditures through 2016 in addition to what is included in the table above.

(e) Consists of capital expenditures for new wind projects and related transmission totaling approximately 1,910 MW, including approximately 465 MW in Canada, that have received applicable internal approvals.  NEER expects to add new U.S. wind generation of 2,000 MW to 2,500 MW in 2013 through 2015, including 325 MW added to date, at a total cost of up to $3.5 billion to $4.5 billion.

(f) Consists of capital expenditures for new solar projects and related transmission totaling approximately 587 MW that have received applicable internal approvals, including equity contributions associated with a 50% equity investment in a 550 MW solar project.  Excludes solar projects requiring internal approvals with generation totaling 47 MW with an estimated cost of approximately $120 million.

(g) Includes nuclear fuel.

(h) Consists of capital expenditures that have received applicable internal approvals.

(i) Includes capital expenditures totaling approximately $1.4 billion for the remainder of 2014 through 2018 for construction of a natural gas pipeline system that has received applicable internal approvals, including approximately $855 million of equity contributions associated with a 33% equity investment in the northern portion of the natural gas pipeline system and $520 million for the southern portion, which includes AFUDC of approximately $1 million, $7 million, $20 million and $11 million for the remainder of 2014 through 2017, respectively.  Construction of the natural gas pipeline system is subject to certain conditions, including FERC approval.  A FERC decision is expected in 2015.  See Contracts below.

The above estimates are subject to continuing review and adjustment and actual capital expenditures may vary significantly from these estimates.

Contracts - In addition to the commitments made in connection with the estimated capital expenditures included in the table in Commitments above, FPL has commitments under long-term purchased power and fuel contracts.  As of June 30, 2014, FPL is obligated under take-or-pay purchased power contracts with JEA and with subsidiaries of The Southern Company (Southern subsidiaries) to pay for approximately 1,330 MW annually through 2015 and 375 MW annually thereafter through 2021.  FPL also has various firm pay-for-performance contracts to purchase approximately 705 MW from certain cogenerators and small power producers (qualifying facilities) with expiration dates ranging from 2024 through 2034.  The purchased power contracts provide for capacity and energy payments.  Energy payments are based on the actual power taken under these contracts.  Capacity payments for the pay-for-performance contracts are subject to the qualifying facilities meeting certain contract conditions.  FPL has contracts with expiration dates through 2036 for the purchase and transportation of natural gas and coal, and storage of natural gas.  In addition, FPL has entered into 25-year natural gas transportation agreements with each of Sabal Trail Transmission, LLC (Sabal Trail, an entity in which a NEECH subsidiary has a 33% ownership interest), and Florida Southeast Connection, LLC (Florida Southeast Connection, a wholly-owned NEECH subsidiary), each of which will build, own and operate a pipeline that will be part of a natural gas pipeline system, for a quantity of 400,000 MMBtu/day beginning on May 1, 2017 and increasing to 600,000 MMBtu/day on May 1, 2020.  These agreements contain firm commitments that are contingent upon the occurrence of certain events, including FERC approval and completion of construction of the pipeline system to be built by Sabal Trail and Florida Southeast Connection.  See Commitments above.

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NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

As of June 30, 2014, NEER has entered into contracts with expiration dates ranging from August 2014 through 2030 primarily for the purchase of wind turbines, wind towers and solar modules and related construction and development activities, as well as for the supply of uranium, conversion, enrichment and fabrication of nuclear fuel.  Approximately $3.0 billion of commitments under such contracts are included in the estimated capital expenditures table in Commitments above.  In addition, NEER has contracts primarily for the purchase, transportation and storage of natural gas and firm transmission service with expiration dates ranging from August 2014 through 2033.

Included in Corporate and Other in the table below is the remaining commitment by a NEECH subsidiary to invest over $900 million in Sabal Trail for the construction of the northern portion of the natural gas pipeline system.  Amounts committed for the remainder of 2014 through 2018 are also included in the estimated capital expenditures table in Commitments above.

The required capacity and/or minimum payments under the contracts discussed above as of June 30, 2014 were estimated as follows:

	Remainder of 2014		2015		2016		2017		2018		Thereafter
	(millions)
FPL:
Capacity charges:(a)
Qualifying facilities	$	140	$	290	$	250	$	255	$	260	$	1,965
JEA and Southern subsidiaries	$	110	$	195	$	70	$	50	$	10	$	5
Minimum charges, at projected prices:(b)
Natural gas, including transportation and storage(c)	$	995	$	1,045	$	685	$	745	$	825	$	14,520
Coal	$	35	$	40	$	20	$	—	$	—	$	—
NEER	$	1,430	$	1,085	$	480	$	115	$	120	$	475
Corporate and Other(d)(e)	$	95	$	250	$	510	$	50	$	25	$	70

————————————

(a) Capacity charges under these contracts, substantially all of which are recoverable through the capacity cost recovery clause, totaled approximately $123 million and $119 million for the three months ended June 30, 2014 and 2013, respectively, and approximately $246 million and $244 million for the six months ended June 30, 2014 and 2013, respectively.  Energy charges under these contracts, which are recoverable through the fuel clause, totaled approximately $75 million and $86 million for the three months ended June 30, 2014 and 2013, respectively, and approximately $132 million and $109 million for the six months ended June 30, 2014 and 2013, respectively.

(b) Recoverable through the fuel clause.

(c) Includes approximately $200 million, $295 million and $8,535 million in 2017, 2018 and thereafter, respectively, of firm commitments, subject to certain conditions as noted above, related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection.

(d) Includes an approximately $50 million commitment to invest in clean power and technology businesses through 2021.

(e) Excludes approximately $195 million and $200 million in 2014 and 2015, respectively, of joint obligations of NEECH and NEER which are included in the NEER amounts above.

Insurance - Liability for accidents at nuclear power plants is governed by the Price-Anderson Act, which limits the liability of nuclear reactor owners to the amount of insurance available from both private sources and an industry retrospective payment plan.  In accordance with this Act, NEE maintains $375 million of private liability insurance per site, which is the maximum obtainable, and participates in a secondary financial protection system, which provides up to $13.2 billion of liability insurance coverage per incident at any nuclear reactor in the United States.  Under the secondary financial protection system, NEE is subject to retrospective assessments of up to $1.0 billion ($509 million for FPL), plus any applicable taxes, per incident at any nuclear reactor in the United States, payable at a rate not to exceed $152 million ($76 million for FPL) per incident per year.  NEE and FPL are contractually entitled to recover a proportionate share of such assessments from the owners of minority interests in Seabrook, Duane Arnold Energy Center (Duane Arnold) and St. Lucie Unit No. 2, which approximates $15 million, $38 million and $19 million, plus any applicable taxes, per incident, respectively.

NEE participates in a nuclear insurance mutual company that provides $2.75 billion of limited insurance coverage per occurrence per site for property damage, decontamination and premature decommissioning risks at its nuclear plants and a sublimit of $1.5 billion for non-nuclear perils.  The proceeds from such insurance, however, must first be used for reactor stabilization and site decontamination before they can be used for plant repair.  NEE also participates in an insurance program that provides limited coverage for replacement power costs if a nuclear plant is out of service for an extended period of time because of an accident.  In the event of an accident at one of NEE's or another participating insured's nuclear plants, NEE could be assessed up to $175 million ($106 million for FPL), plus any applicable taxes, in retrospective premiums in a policy year.  NEE and FPL are contractually entitled to recover a proportionate share of such assessments from the owners of minority interests in Seabrook, Duane Arnold and St. Lucie Unit No. 2, which approximates $2 million, $5 million and $4 million, plus any applicable taxes, respectively.

Due to the high cost and limited coverage available from third-party insurers, NEE does not have property insurance coverage for

33

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

a substantial portion of its transmission and distribution property and has no property insurance coverage for FPL FiberNet's fiber-optic cable.  Should FPL's future storm restoration costs exceed the reserve amount established through the issuance of storm-recovery bonds by a VIE in 2007, FPL may recover storm restoration costs, subject to prudence review by the FPSC, either through surcharges approved by the FPSC or through securitization provisions pursuant to Florida law.

In the event of a loss, the amount of insurance available might not be adequate to cover property damage and other expenses incurred.  Uninsured losses and other expenses, to the extent not recovered from customers in the case of FPL or Lone Star, would be borne by NEE and/or FPL and/or their affiliates, as the case may be, and could have a material adverse effect on NEE's and FPL's financial condition, results of operations and liquidity.

Spain Solar Projects - In March 2013 and May 2013, events of default occurred under the project-level financing agreements for the Spain solar projects (project-level financing) as a result of changes of law that occurred in December 2012 and February 2013.  These changes of law negatively affected the projected economics of the projects and caused the project-level financing to be unsupportable by expected future project cash flows.  Under the project-level financing, events of default provide for, among other things, a right by the lenders (which they did not exercise) to accelerate the payment of the project-level debt.  Accordingly, in 2013, the project-level debt and the associated derivative liabilities related to interest rate swaps were classified as current maturities of long-term debt and current derivative liabilities, respectively, on NEE's condensed consolidated balance sheets, and totaled $751 million and $119 million, respectively, as of June 30, 2014 .  In July 2013, the Spanish government published a new law that created a new economic framework for the Spanish renewable energy sector.  Additional regulatory pronouncements from the Spanish government needed to complete and implement the framework were finalized in June 2014.  Based on NEE's initial assessment, the regulatory pronouncements do not indicate a further impairment of the Spain solar projects or a material change to the tariff revenues recorded since July 2013.

As part of a settlement agreement reached on December 20, 2013 between NEECH, NextEra Energy España, S.L. (NEE España), which is the NEER subsidiary in Spain that is the direct shareholder of the project-level subsidiaries, the project-level subsidiaries and the lenders, the future recourse of the lenders under the project-level financing is effectively limited to the letters of credit described below and to the assets of NEE España and the project-level subsidiaries. Under the settlement agreement, the lenders, among other things, irrevocably waived events of default related to changes of law described above, and NEECH affiliates provided for the project-level subsidiaries to post approximately €37 million (approximately $50 million as of June 30, 2014) in letters of credit to fund operating and debt service reserves under the project-level financing and €10 million (approximately $14 million as of June 30, 2014) in a letter of credit to provide support for a performance guarantee under the project-level financing.  NEE España, the project-level subsidiaries and the lenders will continue to seek to restructure the project-level financing; however, there can be no assurance that the project-level financing will be successfully restructured or that future events of default under the project-level financing will not occur.

Legal Proceedings - In November 1999, the Attorney General of the United States, on behalf of the U.S. Environmental Protection Agency (EPA), brought an action in the U.S. District Court for the Northern District of Georgia against Georgia Power Company and other subsidiaries of The Southern Company for certain alleged violations of the Prevention of Significant Deterioration (PSD) provisions and the New Source Performance Standards (NSPS) of the Clean Air Act.  In May 2001, the EPA amended its complaint to allege, among other things, that Georgia Power Company constructed and is continuing to operate Scherer Unit No. 4, in which FPL owns an interest of approximately 76%, without obtaining a PSD permit, without complying with NSPS requirements, and without applying best available control technology for nitrogen oxides, sulfur dioxides and particulate matter as required by the Clean Air Act.  It also alleges that unspecified major modifications have been made at Scherer Unit No. 4 that require its compliance with the aforementioned Clean Air Act provisions.  The EPA seeks injunctive relief requiring the installation of best available control technology and civil penalties.  Under the EPA's civil penalty rules, the EPA could assess up to $25,000 per day for each violation from an unspecified date after June 1, 1975 through January 30, 1997, up to $27,500 per day for each violation from January 31, 1997 through March 15, 2004, up to $32,500 per day for each violation from March 16, 2004 through January 12, 2009 and up to $37,500 per day for each violation thereafter.  Georgia Power Company has answered the amended complaint, asserting that it has complied with all requirements of the Clean Air Act, denying the plaintiff's allegations of liability, denying that the plaintiff is entitled to any of the relief that it seeks and raising various other defenses.  In June 2001, a federal district court stayed discovery and administratively closed the case and the EPA has not yet moved to reopen the case.  In April 2007, the U.S. Supreme Court in a separate unrelated case rejected an argument that a "major modification" occurs at a plant only when there is a resulting increase in the hourly rate of air emissions.  Georgia Power Company has made a similar argument in defense of its case, but has other factual and legal defenses that are unaffected by the U.S. Supreme Court's decision.

In 1995 and 1996, NEE, through an indirect subsidiary, purchased from Adelphia Communications Corporation (Adelphia) 1,091,524 shares of Adelphia common stock and 20,000 shares of Adelphia preferred stock (convertible into 2,358,490 shares of Adelphia common stock) for an aggregate price of approximately $35,900,000.  On January 29, 1999, Adelphia repurchased all of these shares for $149,213,130 in cash.  In June 2004, Adelphia, Adelphia Cablevision, L.L.C. and the Official Committee of Unsecured Creditors of Adelphia filed a complaint against NEE and its indirect subsidiary in the U.S. Bankruptcy Court, Southern District of New York.  The complaint alleges that the repurchase of these shares by Adelphia was a fraudulent transfer, in that at the time of

34

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

the transaction Adelphia (i) was insolvent or was rendered insolvent, (ii) did not receive reasonably equivalent value in exchange for the cash it paid, and (iii) was engaged or about to engage in a business or transaction for which any property remaining with Adelphia had unreasonably small capital.  The complaint seeks the recovery for the benefit of Adelphia's bankruptcy estate of the cash paid for the repurchased shares, plus interest from January 29, 1999.  NEE filed an answer to the complaint.  NEE believes that the complaint is without merit because, among other reasons, Adelphia will be unable to demonstrate that (i) Adelphia's repurchase of shares from NEE, which repurchase was at the market value for those shares, was not for reasonably equivalent value, (ii) Adelphia was insolvent at the time of the stock repurchase, or (iii) the stock repurchase left Adelphia with unreasonably small capital.  The trial was completed in May 2012 and closing arguments were heard in July 2012.  On May 6, 2014, the U.S. Bankruptcy Court, Southern District of New York, issued its decision after trial, finding, among other things, that Adelphia was not insolvent, or rendered insolvent, at the time of the stock repurchase. The bankruptcy court further ruled that Adelphia was not left with inadequate capital or equitably insolvent at the time of the stock repurchase. The decision after trial represents proposed findings of fact and conclusions of law which are subject to de novo review by the U.S. District Court for the Southern District of New York. Adelphia filed its objections to the decision on June 10, 2014 and NEE filed its response to those objections on July 15, 2014. The issuance of a final order by the district court is pending.

NEE and FPL are vigorously defending, and believe that they or their affiliates have meritorious defenses to, the lawsuits described above.  In addition to the legal proceedings discussed above, NEE and its subsidiaries, including FPL, are involved in other legal and regulatory proceedings, actions and claims in the ordinary course of their businesses.  Generating plants in which subsidiaries of NEE, including FPL, have an ownership interest are also involved in legal and regulatory proceedings, actions and claims, the liabilities from which, if any, would be shared by such subsidiary.  In the event that NEE and FPL, or their affiliates, do not prevail in the lawsuits described above or these other legal and regulatory proceedings, actions and claims, there may be a material adverse effect on their financial statements.  While management is unable to predict with certainty the outcome of the lawsuits described above or these other legal and regulatory proceedings, actions and claims, based on current knowledge it is not expected that their ultimate resolution, individually or collectively, will have a material adverse effect on the financial statements of NEE or FPL.

11.  Segment Information

NEE's reportable segments are FPL, a rate-regulated electric utility, and NEER, a competitive energy business.  NEER's segment information includes an allocation of interest expense from NEECH based on a deemed capital structure of 70% debt and allocated shared service costs.  Corporate and Other represents other business activities, other segments that are not separately reportable and eliminating entries.  NEE's segment information is as follows:

	Three Months Ended June 30,
	2014										2013
	FPL		NEER(a)			Corporate and Other			NEE Consoli- dated		FPL		NEER(a)			Corporate and Other			NEE Consoli- dated
									(millions)
Operating revenues	$	2,889	$	1,036		$	104		$	4,029	$	2,696	$	1,046		$	91		$	3,833
Operating expenses	$	2,107	$	896		$	75		$	3,078	$	1,972	$	806		$	74		$	2,852
Net income (loss)	$	423	$	81	(b)	$	(12	)	$	492	$	391	$	229	(b)	$	(10	)	$	610

35

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	Six Months Ended June 30,
	2014										2013
	FPL		NEER(a)			Corporate and Other			NEE Consoli- dated		FPL		NEER(a)				Corporate and Other		NEE Consoli- dated
									(millions)
Operating revenues	$	5,424	$	2,069		$	210		$	7,703	$	4,885	$	2,062			$	165	$	7,112
Operating expenses	$	4,010	$	1,846		$	157		$	6,013	$	3,618	$	1,955		(c)	$	124	$	5,697
Income (loss) from continuing operations(d)	$	770	$	167	(b)	$	(16	)	$	921	$	679	$	(27	)	(b)	$	—	$	652
Gain from discontinued operations, net of income taxes(d)(e)	$	—	$	—		$	—		$	—	$	—	$	216			$	15	$	231
Net income (loss)	$	770	$	167	(b)	$	(16	)	$	921	$	679	$	189		(b)	$	15	$	883

————————————

(a) Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt.  For this purpose, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual non-utility interest expense is included in Corporate and Other.

(b) Includes NEER's tax benefits related to PTCs and for the six months ended June 30, 2013 also includes after-tax charges of $342 million associated with the impairment of the Spain solar projects.  See Note 4 - Nonrecurring Fair Value Measurements and Note 5.

(c) Includes an impairment charge on NEER's Spain solar projects of $300 million.  See Note 4 - Nonrecurring Fair Value Measurements.

(d) Prior year amounts were restated to conform to current year's presentation.  See Note 4 - Nonrecurring Fair Value Measurements.

(e) See Note 6.

	June 30, 2014								December 31, 2013
	FPL		NEER		Corporate and Other		NEE Consoli- dated		FPL		NEER		Corporate and Other		NEE Consoli- dated
							(millions)
Total assets	$	37,882	$	30,952	$	2,756	$	71,590	$	36,488	$	30,154	$	2,664	$	69,306

12.  Summarized Financial Information of NEECH

NEECH, a 100% owned subsidiary of NEE, provides funding for, and holds ownership interests in, NEE's operating subsidiaries other than FPL.  Most of NEECH's debt, including its debentures, and payment guarantees are fully and unconditionally guaranteed by NEE.  Condensed consolidating financial information is as follows:

Condensed Consolidating Statements of Income

	Three Months Ended June 30,
	2014												2013
	NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
Operating revenues	$	—		$	1,143		$	2,886		$	4,029		$	—		$	1,140		$	2,693		$	3,833
Operating expenses	(4		)	(969		)	(2,105		)	(3,078		)	(4		)	(878		)	(1,970		)	(2,852		)
Interest expense	(2		)	(194		)	(109		)	(305		)	(2		)	(161		)	(103		)	(266		)
Equity in earnings of subsidiaries	507			—			(507		)	—			623			—			(623		)	—
Other income (deductions) - net	1			130			7			138			(1		)	94			13			106
Income before income taxes	502			110			172			784			616			195			10			821
Income tax expense (benefit)	10			26			256			292			6			(36		)	241			211
Net income (loss)	$	492		$	84		$	(84	)	$	492		$	610		$	231		$	(231	)	$	610

36

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	Six Months Ended June 30,
	2014												2013(b)
	NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
Operating revenues	$	—		$	2,286		$	5,417		$	7,703		$	—		$	2,234		$	4,878		$	7,112
Operating expenses	(8		)	(2,001		)	(4,004		)	(6,013		)	(7		)	(2,078		)	(3,612		)	(5,697		)
Interest expense	(3		)	(410		)	(211		)	(624		)	(5		)	(331		)	(201		)	(537		)
Equity in earnings of subsidiaries	942			—			(942		)	—			872			—			(872		)	—
Other income (deductions) - net	—			278			21			299			1			100			28			129
Income (loss) from continuing operations before income taxes	931			153			281			1,365			861			(75		)	221			1,007
Income tax expense (benefit)	10			(19		)	453			444			(7		)	(52		)	414			355
Income (loss) from continuing operations	921			172			(172		)	921			868			(23		)	(193		)	652
Gain from discontinued operations, net of income taxes	—			—			—			—			15			216			—			231
Net income (loss)	$	921		$	172		$	(172	)	$	921		$	883		$	193		$	(193	)	$	883

————————————

(a)  Represents FPL and consolidating adjustments.

(b)  Certain amounts were restated to conform to current year's presentation.  See Note 4 - Nonrecurring Fair Value Measurements.

Condensed Consolidating Statements of Comprehensive Income

	Three Months Ended June 30,
	2014									2013
	NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss)	$	530	$	122	$	(122	)	$	530	$	644	$	265	$	(265	)	$	644

	Six Months Ended June 30,
	2014									2013
	NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss)	$	924	$	170	$	(170	)	$	924	$	1,036	$	339	$	(339	)	$	1,036

————————————

(a) Represents FPL and consolidating adjustments.

37

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

Condensed Consolidating Balance Sheets

	June 30, 2014												December 31, 2013
	NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	$	32		$	30,299		$	41,102		$	71,433		$	31		$	29,511		$	39,906		$	69,448
Less accumulated depreciation and amortization	(12		)	(6,164		)	(11,226		)	(17,402		)	(10		)	(5,774		)	(10,944		)	(16,728		)
Total property, plant and equipment - net	20			24,135			29,876			54,031			21			23,737			28,962			52,720
CURRENT ASSETS
Cash and cash equivalents	19			545			58			622			—			418			20			438
Receivables	233			1,623			436			2,292			78			1,542			669			2,289
Other	60			1,854			1,271			3,185			6			1,814			1,295			3,115
Total current assets	312			4,022			1,765			6,099			84			3,774			1,984			5,842
OTHER ASSETS
Investment in subsidiaries	18,253			—			(18,253		)	—			17,910			—			(17,910		)	—
Other	750			5,509			5,201			11,460			694			5,129			4,921			10,744
Total other assets	19,003			5,509			(13,052		)	11,460			18,604			5,129			(12,989		)	10,744
TOTAL ASSETS	$	19,335		$	33,666		$	18,589		$	71,590		$	18,709		$	32,640		$	17,957		$	69,306
CAPITALIZATION
Common shareholders' equity	$	18,429		$	4,800		$	(4,800	)	$	18,429		$	18,040		$	4,816		$	(4,816	)	$	18,040
Long-term debt	—			16,107			8,942			25,049			—			15,496			8,473			23,969
Total capitalization	18,429			20,907			4,142			43,478			18,040			20,312			3,657			42,009
CURRENT LIABILITIES
Debt due within one year	—			4,392			509			4,901			—			3,896			561			4,457
Accounts payable	1			731			743			1,475			—			589			611			1,200
Other	417			1,937			960			3,314			199			2,203			1,130			3,532
Total current liabilities	418			7,060			2,212			9,690			199			6,688			2,302			9,189
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	—			586			1,319			1,905			—			565			1,285			1,850
Deferred income taxes	234			1,822			6,171			8,227			166			1,963			6,015			8,144
Other	254			3,291			4,745			8,290			304			3,112			4,698			8,114
Total other liabilities and deferred credits	488			5,699			12,235			18,422			470			5,640			11,998			18,108
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	19,335		$	33,666		$	18,589		$	71,590		$	18,709		$	32,640		$	17,957		$	69,306

————————————

(a) Represents FPL and consolidating adjustments.

38

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Concluded)

(unaudited)

Condensed Consolidating Statements of Cash Flows

	Six Months Ended June 30,
	2014												2013
	NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
NET CASH PROVIDED BY OPERATING ACTIVITIES	$	754		$	659		$	1,035		$	2,448		$	598		$	657		$	995		$	2,250
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases	—			(1,562		)	(1,677		)	(3,239		)	—			(1,647		)	(1,507		)	(3,154		)
Capital contribution to FPL	(100		)	—			100			—			—			—			—			—
Cash grants under the Recovery Act	—			306			—			306			—			170			—			170
Sale of independent power investments	—			273			—			273			—			—			—			—
Change in loan proceeds restricted for construction	—			(366		)	—			(366		)	—			207			—			207
Other - net	7			(49		)	(37		)	(79		)	—			26			(34		)	(8		)
Net cash used in investing activities	(93		)	(1,398		)	(1,614		)	(3,105		)	—			(1,244		)	(1,541		)	(2,785		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	—			2,229			500			2,729			—			2,364			498			2,862
Retirements of long-term debt	—			(1,946		)	(329		)	(2,275		)	—			(998		)	(427		)	(1,425		)
Proceeds from sale of differential membership interests	—			39			—			39			—			201			—			201
Net change in short-term debt	—			678			247			925			—			(611		)	241			(370		)
Dividends on common stock	(630		)	—			—			(630		)	(557		)	—			—			(557		)
Other - net	(12		)	(134		)	199			53			(43		)	(275		)	224			(94		)
Net cash provided by (used in) financing activities	(642		)	866			617			841			(600		)	681			536			617
Net increase (decrease) in cash and cash equivalents	19			127			38			184			(2		)	94			(10		)	82
Cash and cash equivalents at beginning of period	—			418			20			438			2			287			40			329
Cash and cash equivalents at end of period	$	19		$	545		$	58		$	622		$	—		$	381		$	30		$	411

————————————

(a) Represents FPL and consolidating adjustments.

39

Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations

OVERVIEW

NEE’s operating performance is driven primarily by the operations of its two principal subsidiaries, FPL, which serves approximately 4.7 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the U.S., and NEER, which together with affiliated entities is the largest generator in North Americaof renewable energy from the wind and sun.  The table below presents NEE’s net income (loss)and earnings (loss) per share by reportable segment - FPL, NEER andCorporate and Other, which is primarily comprised of the operating results of NEET, FPL FiberNet and other business activities, as well as other income and expense items, including interest expense, income taxes and eliminating entries (see Note 11for additional segment information, including reported results from continuing operations).The following discussions should be read in conjunction with the Notes contained hereinand Management's Discussion and Analysis of Financial Condition and Results of Operations (Management's Discussion) appearing in the 2013 Form 10-K.The results of operations for an interim period generally will not give a true indication of results for the year.In the following discussions, all comparisons are with the corresponding items in the prior year period.

	Net Income (Loss)						Earnings (Loss) Per Share, assuming dilution						Net Income (Loss)					Earnings (Loss) Per Share, assuming dilution
	Three Months Ended   June 30,						Three Months Ended   June 30,						Six Months Ended   June 30,					Six Months Ended   June 30,
	2014			2013			2014			2013			2014			2013		2014			2013
	(millions)												(millions)
FPL	$	423		$	391		$	0.96		$	0.92		$	770		$	679	$	1.75		$	1.60
NEER(a)	81			229			0.18			0.54			167			189		0.38			0.45
Corporate and Other	(12		)	(10		)	(0.02		)	(0.02		)	(16		)	15		(0.03		)	0.03
NEE	$	492		$	610		$	1.12		$	1.44		$	921		$	883	$	2.10		$	2.08

______________________

(a) NEER’s results reflect an allocation of interest expense from NEECH based on a deemed capital structure of 70% debt and allocated shared service costs.

NEE, through NEER, formed NEP to own, operate and acquire contracted clean energy projects with stable, long-term cash flows through a limited partner interest in NEP OpCo.  On July 1, 2014, NEP closed its initial public offering as further described in Note 1 - Basis of Presentation.

Adjusted Earnings

NEE prepares its financial statements under generally accepted accounting principles in the U.S. (GAAP).  However, management uses earnings excluding certain items (adjusted earnings), a non-GAAP financial measure, internally for financial planning, for analysis of performance, for reporting of results to the Board of Directors and as an input in determining performance-based compensation under NEE’s employee incentive compensation plans.  NEE also uses adjusted earnings when communicating its financial results and earnings outlook to investors.  NEE’s management believes adjusted earnings provides a more meaningful representation of the company’s fundamental earnings power.  Although the excluded amounts are properly included in the determination of net income under GAAP, management believes that the amount and/or nature of such items make period to period comparisons of operations difficult and potentially confusing.  Adjusted earnings do not represent a substitute for net income, as prepared under GAAP.

Adjusted earnings exclude the unrealized mark-to-market effect of non-qualifying hedges (as described below) and other than temporary impairment (OTTI) losses on securities held in NEER’s nuclear decommissioning funds, net of the reversal of previously recognized OTTI losses on securities sold and losses on securities where price recovery was deemed unlikely (collectively, OTTI reversals).  However, other adjustments may be made from time to time with the intent to provide more meaningful and comparable results of ongoing operations.

NEE and NEER segregate into two categories unrealized mark-to-market gains and losses on derivative transactions.The first category, referred to as non-qualifying hedges, represents certain energy derivative transactions, and, beginning in the second quarter of 2013 certain interest rate derivative transactions, entered into as economic hedges, which do not meet the requirements for hedge accounting, or for which hedge accounting treatment is not elected or has been discontinued.  Changes in the fair value of those transactions are marked to market and reported in the consolidated statements of income, resulting in earnings volatility because the economic offset to the positions are not marked to market.As a consequence, NEE's net income reflects only the movement in one part of economically-linked transactions.  For example, a gain (loss) in the non-qualifying hedge category for certain energy derivatives is offset by decreases (increases) in the fair value of related physical asset positions in the portfolio or contracts, which are not marked to market under GAAP. For this reason, NEE's management views results expressed excluding the unrealized mark-to-market impact of the non-qualifying hedges as a meaningful measure of current period performance.  The

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second category, referred to as trading activities, which is included in adjusted earnings, represents the net unrealized effect of actively traded positions entered into to take advantage of expected market price movements and all other commodity hedging activities.  At FPL, substantially all changes in the fair value of energy derivative transactions are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel clause.See Note3.

During the six months ended June 30, 2013, an after-tax gain from discontinued operations of $231 million was recorded in NEE's condensed consolidated statements of income related to the March 2013 hydro sale.  See Note 6. In addition, during the six months ended June 30, 2013, NEER recorded an after-tax loss of $43 million associated with the decision to pursue the sale of Maine fossil.  During the six months ended June 30, 2014, NEER decided not to pursue the sale of Maine fossil and recorded an after-tax gain of $12 million to increase Maine fossil's carrying value to its estimated fair value.  See Note 4 - Nonrecurring Fair Value Measurements.  During the six months ended June 30, 2013, NEER recorded an impairment of $300 million and other related charges ($342 million after-tax) related to the Spain solar projects in NEE's condensed consolidated statements of income.  See Note 4 - Nonrecurring Fair Value Measurements and Note 10 - Spain Solar Projects. In order to make period to period comparisons more meaningful, adjusted earnings also exclude the after-tax gain from discontinued operations, the after-tax gain (loss) associated with Maine fossil, the after-tax charges associated with the impairment of the Spain solar projects and, in 2014, the after-tax operating results associated with the Spain solar projects.

The following table provides details of the adjustments to net income considered in computing NEE's adjusted earnings discussed above.

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Net unrealized mark-to-market after-tax losses from non-qualifying hedge activity(a)	$	(146	)	$	(9	)	$	(273	)	$	(61	)
Income (loss) from OTTI after-tax losses on securities held in NEER's nuclear decommissioning funds, net of OTTI reversals	$	1		$	(1	)	$	2		$	1
After-tax gain from discontinued operations(b)	$	—		$	—		$	—		$	231
After-tax gain (loss) associated with Maine fossil(c)	$	—		$	—		$	12		$	(43	)
After-tax charges recorded by NEER associated with the impairment of the Spain solar projects	$	—		$	—		$	—		$	(342	)
After-tax operating results of NEER's Spain solar projects	$	7		$	—		$	(8	)	$	—

____________________

(a) For the three months ended June 30, 2014 and 2013, approximately $140 million and $8 million of losses, respectively, are included in NEER's net income; the balance is included in Corporate and Other. For the six months ended June 30, 2014 and 2013, approximately $263 million and $61 million of losses, respectively, are included in NEER's net income; the balance is included in Corporate and Other.

(b) For the six months ended June 30, 2013, $216 million of the gain is included in NEER's net income; the balance is included in Corporate and Other.

(c) For the six months ended June 30, 2014, the gain is included in NEER's net income.  For the six months ended June 30, 2013, $41 million of the loss is included in NEER's net income; the balance is included in Corporate and Other.

The change in unrealized mark-to-market activity from non-qualifying hedges is primarily attributable to changes in forward power and natural gas prices and interest rates, as well as the reversal of previously recognized unrealized mark-to-market gains or losses as the underlying transactions were realized.

RESULTS OF OPERATIONS

Summary

NEE's net income for the three months ended June 30, 2014 was lower than the prior period by $118 million, or 32 cents per share, reflecting lower results at NEER, partly offset by higher results at FPL.  NEE's net income for the six months ended June 30, 2014 was higher than the prior period by $38 million, or 2 cents per share, primarily due to higher results at FPL, partly offset by lower results from Corporate and Other.

FPL's increase in net income for thethree and six months ended June 30, 2014was primarily driven by continued investments in plant in service while earning an 11.28% return on common equity as determined for regulatory purposes (regulatory ROE) on its retail rate base.

NEER's net income decreased for thethree months ended June 30, 2014primarily due to higher net unrealized losses from non-qualifying hedge activity.  NEER's net income decreased for the six months ended June 30, 2014 reflecting higher net unrealized losses from non-qualifying hedge activity as well as the absence of the $216 million after-tax gain from discontinued operations and the absence of $342 million of after-tax charges associated with the impairment of the Spain solar projects, both recorded in 2013.  In addition, NEER's results for the three and six months ended June 30, 2014 reflect, among other things, earnings from new investments and higher results from the customer supply and proprietary power and gas trading businesses as well as the NEP-related charge and costs.

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Corporate and Other's results decreased for thethree and six months ended June 30, 2014primarily due to higher investment losses and, for the six months ended June 30, 2014, consolidating tax adjustments.

NEE's effective income tax rates for the three months ended June 30, 2014 and 2013 were approximately 37% and 26%, respectively.  NEE's effective income tax rates for thesix months ended June 30, 2014 and 2013were approximately33%and35%, respectively.  The rates for all periods reflect the benefit of PTCs for wind projects at NEER and deferred income tax benefits associated with convertible ITCs under the Recovery Act.PTCs and deferred income tax benefits associated with convertible ITCs can significantly affect NEE's effective income tax rate depending on the amount of pretax income.The amount of PTCs recognized can be significantly affected by wind generation and by PTC roll off.PTCs for the three months ended June 30, 2014 and 2013 were approximately $49 millionand $66 million, respectively, and $98 millionand $125 million for the comparable six-month periods.  Deferred income tax benefits associated with convertible ITCs for the three months ended June 30, 2014 and 2013 were approximately $10 millionand $21 million, respectively, and $22 millionand $33 million for the comparable six-month periods. In addition, the rates for thethree and six months ended June 30, 2014reflect a noncash income tax charge of approximately $45 million associated with structuring Canadian assets andfor the six months ended June 30, 2013 reflect the establishment of a full valuation allowance during the first quarter of 2013 of approximately $132 million on the deferred tax assets associated with the Spain solar projects. See Note 4 - Nonrecurring Fair Value Measurements and Note 5.   

FPL:  Results of Operations

FPL’s net income for the three months ended June 30, 2014 and 2013 was $423 million and $391 million, respectively, representing an increase of $32 million.  FPL’s net income for the six months ended June 30, 2014 and 2013 was $770 million and $679 million, respectively, representing an increase of $91 million.

The use of reserve amortization is permitted by a January 2013 FPSC final order approving a stipulation and settlement between FPL and several intervenors in FPL's base rate proceeding (2012 rate agreement). In order to earn a targeted regulatory ROE, subject to limitations provided in the 2012 rate agreement, reserve amortization is calculated using a trailing thirteen-month average of retail rate base and capital structure in conjunction with the trailing twelve months regulatory retail base net operating income, which primarily includes the retail base portion of base and other revenues, net of other operations and maintenance (O&M) expenses, depreciation and amortization, interest and tax expenses.  The drivers of FPL's net income not reflected in the reserve amortization calculation include wholesale and transmission service revenues and expenses, cost recovery clause revenues and expenses, theequity component of AFUDC (AFUDC - equity) and costs not allowed to be recovered from customers by the FPSC.  During the three months ended June 30, 2014 and 2013, FPL recorded reserve amortization of $6 million and $82 million, respectively.  During the six months ended June 30, 2014 and 2013, FPL recorded reserve amortization of $131 million and $219 million, respectively.

FPL's regulatory ROE for the twelve months ended June 30, 2014 was 11.28% compared to 11.0% in the prior year period.  The 2014 regulatory ROE reflects approximately $25 million of after-tax charges recorded over the past twelve months associated with an initiative focused mainly on improving productivity and reducing O&M expenses (cost savings initiative).  These charges were not offset by additional reserve amortization.Excluding the impact of these charges, FPL's regulatory ROE would have been 11.50%, which is FPL's targeted regulatory ROE for 2014.  The $32 million and $91 million increase in FPL's net income for the three and six months ended June 30, 2014, respectively, was primarily driven by:

• higher earnings on investment in plant in service of $28 million and $57 million, respectively.  Investment in plant in service grew FPL's average retail rate base for the three and six months ended June 30, 2014 by approximately $2.4 billion and $2.5 billion, respectively, when compared to the same periods last year, reflecting, among other things, the generation power uprates at FPL's nuclear units, themodernized Cape Canaveral and Riviera Beach power plants and ongoing transmission and distribution additions,

• growth in wholesale services provided which increased earnings by $10 million and $14 million, respectively, and

• for the six months ended June 30, 2014, higher earnings of approximately $29 million related to the increase in the targeted regulatory ROE from 11.25% to 11.50% implemented in the first quarter of 2014.

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FPL's operating revenues consisted of the following:

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013
	(millions)
Retail base	$	1,390	$	1,280	$	2,527	$	2,310
Fuel cost recovery	941		828		1,856		1,547
Net recognition of previously deferred retail fuel revenues	—		54		—		44
Other cost recovery clauses and pass-through costs, net of any deferrals	446		459		841		847
Other, primarily wholesale and transmission sales, customer-related fees and pole attachment rentals	112		75		200		137
Total	$	2,889	$	2,696	$	5,424	$	4,885

Retail Base

Retail base revenues increased approximately $96 million and $168 million during thethree and six months ended June 30, 2014, respectively, related to plant capacity additions reflecting (1) new nuclear capacity of approximately 125 MW, which was placed in service in 2013, (2) the modernization of the Cape Canaveral power plant, which was placed in service in April 2013, and (3) the modernization of the Riviera Beach power plant that was placed in service on April 1, 2014; the annualized effect of the retail base rate increase for the Riviera Beach power plant is approximately $234 million.

Retail Customer Usage and Growth

For the three and six months ended June 30, 2014, FPL experienced a 0.4% decrease and 0.9% increase, respectively, in average usage per retail customer and a 2.0% and 1.9% increase, respectively, in the average number of customer accounts, which collectively, together with other factors, increased revenues by approximately $14 million and $49 million, respectively. Weather conditions and an improvement in the Florida economy contributed to the increased revenues for both periods.

Cost Recovery Clauses

Revenues from fuel and other cost recovery clauses and pass-through costs, such as franchise fees, revenue taxes and storm-related surcharges, are largely a pass-through of costs.  Such revenues also include a return on investment allowed to be recovered through the cost recovery clauses on certain assets, primarily related to nuclear capacity, solar and environmental projects.  For the three months ended June 30, 2014 and 2013, cost recovery clauses contributed approximately $20 million and $29 million, respectively, to FPL’s net income; the amounts for the six months ended June 30, 2014 and 2013 were $41 million and $56 million, respectively.  The decrease is primarily as a result of the collection in 2014 of retail base revenues related to new nuclear capacity which was placed in service in 2013 (see Retail Base above).  Fluctuations in fuel cost recovery revenues are primarily driven by changes in fuel and energy charges which are included in fuel, purchased power and interchange expense in the condensed consolidated statements of income, as well as by changes in energy sales.  Fluctuations in revenues from other cost recovery clauses and pass-through costs are primarily driven by changes in storm-related surcharges, capacity charges, franchise fee costs, the impact of changes in O&M and depreciation expenses on the underlying cost recovery clause, investment in solar and environmental projects, investment in nuclear capacity until such capacity goes into service and is recovered in base rates, pre-construction costs associated with the development of two additional nuclear units at the Turkey Point site and changes in energy sales.  Capacity charges are included in fuel, purchased power and interchange expense and franchise fee costs are included in taxes other than income taxes and other in the condensed consolidated statements of income.  The increase in fuel cost recovery revenues for the three and six months ended June 30, 2014 is primarily due to a higher average fuel factor of $80 million and $138 million, respectively, and higher energy sales of $42 million and $94 million, respectively.  In addition, gas sales associated with an incentive mechanism allowed under the 2012 rate agreement (incentive gas sales) decreased fuel cost recovery revenues by approximately $9 million for the three months ended June 30, 2014. Incentive gas sales, along with higher interchange power sales, increased fuel cost recovery revenues by approximately $77 million for the six months ended June 30, 2014.

Other

The increase in other revenues for the three and six months ended June 30, 2014 reflects higher wholesale revenues of approximately $33 million and $56 million, respectively, associated with an increase in contracted load served under existing contracts.

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Other Items Impacting FPL's Condensed Consolidated Statements of Income

Fuel, Purchased Power and Interchange Expense

The major components of FPL's fuel, purchased power and interchange expense are as follows:

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Fuel and energy charges during the period	$	1,091		$	972		$	1,995		$	1,681
Net deferral of retail fuel costs	(152		)	(91		)	(145		)	(91		)
Other, primarily capacity charges, net of any capacity deferral	137			137			262			248
Total	$	1,076		$	1,018		$	2,112		$	1,838

The increase in fuel and energy charges for the three and six months ended June 30, 2014 reflects approximately $56 million and $146 million of higher fuel and energy prices, $40 million and $110 million related to higher energy sales and $23 million and $58 million of gas purchased for incentive gas sales, respectively.

O&M Expenses

FPL's O&M expenses decreased$38 million for the three months ended June 30, 2014 reflecting savings from the cost savings initiative as well as lower costs recoverable through cost recovery clauses, which do not have a significant impact on net income. FPL's O&M expenses decreased$40 million for the six months ended June 30, 2014 reflecting savings from the cost savings initiative partly offset by higher costs recoverable through cost recovery clauses.

Depreciation and Amortization Expense

The major components of FPL’s depreciation and amortization expense are as follows:

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Reserve amortization recorded under the 2012 rate agreement	$	(6	)	$	(82	)	$	(131	)	$	(219	)
Other depreciation and amortization recovered under base rates	305			276			598			546
Depreciation and amortization recovered under cost recovery clauses and securitized storm-recovery cost amortization	50			54			90			102
Total	$	349		$	248		$	557		$	429

The reserve amortization recorded in the current period was lower than amortization recorded in the prior year period primarily due to additional base revenues collected in 2014.The reserve amortization recorded for all periods presented reflects the amortization of a depreciation and fossil dismantlement reserve provided under the 2012 rate agreement; at June 30, 2014, approximately $115 million of this reserve remains available for future amortization.  Reserve amortization is recorded as a reduction of regulatory liabilities - accrued asset removal costs on the condensed consolidated balance sheets.  The increase in other depreciation and amortization expense recovered under base rates for the three and six months ended June 30, 2014 is primarily due to higher plant in service balances.  The decrease in depreciation and amortization recovered under cost recovery clauses and securitized storm-recovery cost amortization for the three and six months ended June 30, 2014 is primarily due to recoveries of prior year investment under the FPSC's nuclear cost recovery rule.

Taxes Other Than Income Taxes and Other

Taxes other than income taxes and other increased approximately $14 million and $30 million for the three and six months ended June 30, 2014, primarily due to higher franchise and revenue taxes, neither of which impact net income, as well as higher property taxes reflecting growth in plant in service balances, partly offset by lower payroll taxes.

Interest Expense

The increase in interest expense for the three and six months ended June 30, 2014 is primarily due to a lower debt component of AFUDC (AFUDC - debt). The change in AFUDC - debt is due to the same factors as described below in AFUDC - equity.

AFUDC - Equity

The decrease inAFUDC - equityfor the three and six months ended June 30, 2014is primarily due to lower AFUDC - equity associated with the Cape Canaveral power plant which was placed in service in April 2013 and the Riviera Beach power plant which was placed in service in April 2014, partly offset by additional AFUDC - equity recorded on construction expenditures associated with the Port Everglades modernization project.

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Major Capital Projects

During the first quarter of 2014, FPL began construction on the modernization of its Port Everglades power plant.  In April 2014, FPL placed in service an approximately 1,200 MW natural gas-fired combined-cycle modernized unit at its Riviera Beach power plant.

In June 2014, FPL filed a petition with the FPSC seeking a prudence determination with respect to FPL's proposed investment in long-term natural gas supplies and for the recovery of costs associated with the investment through the fuel clause.  If FPL’s petition is approved, FPL will partner with a third party to develop natural gas production wells in the Woodford Shale region in southeastern Oklahoma.  FPL’s petition also requested the FPSC approve a set of guidelines proposed by FPL under which FPL could participate in additional natural gas production projects and recover their costs through the fuel clause without prior FPSC approval.  FPL expects an FPSC decision by the end of 2014 or early 2015.

NEER: Results of Operations

NEER’s net income forthe three months ended June 30, 2014 and 2013was$81 millionand$229 million, respectively, representing a decrease of$148 million.  NEER’s net income forthe six months ended June 30, 2014 and 2013was$167 millionand$189 million, respectively, representing a decrease of$22 million.  The primary drivers, on an after-tax basis, of the change are in the following table.  The 99.8 MW associated with theSpain solar projectsand the related operating results are not included in new investments data below.

	Increase (Decrease) From Prior Period
	Three Months Ended   June 30, 2014			Six Months Ended   June 30, 2014
	(millions)
New investments(a)	$	21		$	46
Existing assets(a)	(21		)	42
Customer supply and proprietary power and gas trading(b)	30			(20		)
Asset sales	28			29
NEP-related charge and costs	(67		)	(67		)
Interest expense, differential membership costs and other	(16		)	(22		)
Change in unrealized mark-to-market non-qualifying hedge activity(c)(d)	(132		)	(202		)
Change in OTTI losses on securities held in nuclear decommissioning funds, net of OTTI reversals(d)	2			1
Gain on 2013 discontinued operations(e)	—			(216		)
Change in Maine fossil gain/loss(f)	—			53
Charges associated with the 2013 impairment of the Spain solar projects(f)	—			342
Operating results of the Spain solar projects(f)	7			(8		)
Net income decrease	$	(148	)	$	(22	)

______________________

(a) Includes PTCs and state ITCs on wind projects and, for new investments, deferred income tax and other benefits associated with convertible ITCs but excludes allocation of interest expense or corporate general and administrative expenses.  Results from new projects are included in new investments during the first twelve months of operation.  A project's results are included in existing assets beginning with the thirteenth month of operation.

(b) Excludes allocation of interest expense or corporate general and administrative expenses.

(c) See Note 3 and Overview - Adjusted Earnings related to derivative instruments.

(d) See table in Overview - Adjusted Earnings for additional detail.

(e) See Note 6 and Overview - Adjusted Earnings for additional information.

(f) See Note 4 - Nonrecurring Fair Value Measurements and Overview - Adjusted Earnings for additional information.

New Investments

Results from new investmentsfor the three months ended June 30, 2014increased primarily due to:

• the addition of approximately 449 MW of wind generation and 458 MW of solar generation during or after the three months ended June 30, 2013, and

• higher deferred income tax and other benefits associated with ITCs of $4 million,

partly offset by,

• lower deferred income tax and other benefits associated with convertible ITCs of $11 million.

Results from new investmentsfor the six months ended June 30, 2014increased primarily due to:

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• the addition of approximately 449 MW of wind generation and 458 MW of solar generation during or after the six months ended June 30, 2013, and

• higher deferred income tax and other benefits associated with ITCs of $9 million

partly offset by,

• lower deferred income tax and other benefits associated with convertible ITCs of $10 million.

Existing Assets

Results from NEER's existing asset portfolio for the three months ended June 30, 2014 decreased primarily due to:

• PTC roll off of approximately $12 million and lower state ITCs of $6 million, and

• lower results from the nuclear assets of approximately $17 million primarily due to a scheduled outage at Seabrook in 2014 and lower pricing partly offset by gains on sales of securities held in NEER's nuclear decommissioning funds,

partly offset by,

• higher wind generation of $10 million reflecting increased availability and stronger wind resource.

Results from NEER's existing asset portfolio for the six months ended June 30, 2014 increased primarily due to:

• higher results from wind generation of approximately $50 million related to stronger wind resource and favorable pricing,

• approximately $22 million of gains on sales of securities held in NEER's nuclear decommissioning funds,

• increased results of $13 million at Maine fossil due to additional generation and favorable pricing related to extreme winter weather, and

• increased results of $10 million from merchant assets in the Electric Reliability Council of Texas (ERCOT) region due to favorable market conditions and lower operating costs,

partly offset by,

• PTC roll off of $23 million,

• a reduction in generation at Seabrook of $18 million due to a scheduled outage in 2014, and

• lower results of $14 million due to the absence of the hydro assets which were sold in the first quarter of 2013.

Customer Supply and Proprietary Power and Gas Trading

Results from customer supply and proprietary power and gas trading increasedfor the three months ended June 30, 2014 primarily due to higher results from the customer supply business reflecting gains on gas purchase contracts and favorable full requirements business results, as well as higher power and gas trading results. Results from customer supply and proprietary power and gas trading decreasedfor the six months ended June 30, 2014 primarily due to lower results in the customer supply business reflecting the impact of extreme winter weather and market conditions in the Northeast on the full requirements business in the first quarter of 2014, partly offset by gains on gas purchase contracts and higher power and gas trading results.

Asset Sales

During the three and six months ended June 30, 2014, NEER recorded an after-tax gain of approximately $14 million on the sale of a 75 MW wind project that became operational in the first quarter of 2014 and a gain of approximately $14 million on the sale of investments in certain wells in the gas infrastructure business.

NEP-related Charge and Costs

For the three and six months ended June 30, 2014, NEER's results reflect an approximately $45 million noncash income tax charge associated with structuring Canadian assets and $22 million in NEP initial public offering transaction costs.

Interest Expense, Differential Membership Costs and Other

For the three and six months ended June 30, 2014, the decrease in interest expense, differential membership costs and other reflects higher borrowing and other costs to support the growth of the business.

Other Factors

Supplemental to the primary drivers of the changes in net income discussed above, the discussion below describes changes in certain line items set forth in NEE's condensed consolidated statements of income as they relate to NEER.

Operating Revenues

Operating revenues for the three months ended June 30, 2014 decreased$10 million primarily due to:

• higher unrealized mark-to-market losses from non-qualifying hedges ($220 million for the three months ended June 30, 2014 compared to $7 million of losses on such hedges for the comparable period in 2013),

partly offset by,

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• higher revenues from new investments of approximately $86 million, including $21 million associated with the Spain solar projects,

• higher revenues from both customer supply and proprietary power and gas trading primarily reflecting gains on gas purchase contracts and favorable power and gas trading and from the gas infrastructure business due to the sale of investments in certain wells (collectively, $106 million), and

• higher revenues from existing assets primarily due to higher wind generation due to increased availability and stronger wind resource and higher revenues in the ERCOT region primarily due to favorable market conditions, partly offset by lower revenues in the New England Power Pool (NEPOOL) region due to a scheduled outage at Seabrook (collectively, $12 million).

Operating revenues for the six months ended June 30, 2014 increased$7 million primarily due to:

• higher revenues from new investments of approximately $140 million, including $36 million associated with the Spain solar projects,

• higher revenues from existing assets primarily due to higher wind generation due to increased availability and stronger wind resource and higher revenues in the ERCOT region primarily due to favorable market conditions, partly offset by lower revenues in the NEPOOL region due to a scheduled outage at Seabrook (collectively, $121 million), and

• higher revenues from customer supply and proprietary power and gas trading business ($8 million) primarily reflecting gains on gas purchase contracts and favorable power and gas trading, partly offset by lower full requirements business revenues due to extreme winter weather,

partly offset by,

• higher unrealized mark-to-market losses from non-qualifying hedges ($369 million for the six months ended June 30, 2014 compared to $107 million of losses on such hedges for the comparable period in 2013).

Operating Expenses

Operating expenses for the three months ended June 30, 2014 increased $90 million primarily due to:

• higher fuel expense of approximately $82 million primarily in the ERCOT region and the customer supply business,

• higher operating expenses associated with new investments of approximately $31 million, including $6 million associated with the Spain solar projects, and

• higher operating expenses associated with the gas infrastructure business of $25 million,

partly offset by,

• the absence of $31 million of unrealized mark-to-market losses from non-qualifying hedges recorded in 2013 and lower OTTI losses ($19 million for the three months ended June 30, 2014 compared to $42 million of such losses for the comparable period in 2013).

Operating expenses for the six months ended June 30, 2014 decreased $109 million primarily due to:

• the absence of a $300 million impairment charge in 2013 related to the Spain solar projects,

• the absence of $19 million of unrealized mark-to-market losses from non-qualifying hedges recorded in 2013 and lower OTTI losses ($56 million for the six months ended June 30, 2014 compared to $84 million of such losses for the comparable period in 2013)

partly offset by,

• higher fuel expense of approximately $176 million primarily in the ERCOT region and the customer supply business, and

• higher operating expenses associated with new investments of approximately $63 million, including $17 million associated with the Spain solar projects.

Interest Expense

NEER’s interest expense forthe three and six months ended June 30, 2014increased$39million and $91 million, respectively,primarily due to higher average debt balances.  In addition, NEER’s interest expense forthe three and six months ended June 30, 2014reflects a $8 million and $35 million, respectively, unfavorable change in the fair value of cash flow hedges related to interest rate swaps for which hedge accounting was discontinued in the second quarter of 2013 (see Note 3 and Overview - Adjusted Earnings), compared to a favorable change of $11 million in the fair value of such hedgesfor the comparable periods in 2013.  NEER’s interest expense forthe three and six months ended June 30, 2014also includes approximately $12 million and $28 million, respectively, of additional interest expense associated with the Spain solar projects, primarily due to the absence of capitalized interest in the current period as the project was placed in service in June 2013.

Benefits Associated with Differential Membership Interests - Net

Benefits associated with differential membership interests - net in NEE's condensed consolidated statements of income forall periods presentedreflect benefits recognized by NEER as third-party investors received their portion of the economic attributes, including income tax attributes, of the underlying wind project, net of associated costs.

Gains on Disposal of Assets - Net

Gains on disposal of assets - net in NEE's condensed consolidated statements of income for the three and six months ended June 30, 2014 and 2013 primarily reflect gains on sales of securities held in NEER's nuclear decommissioning funds and, for these

47

respective periods, include approximately $3 million, $8 million, $3 million and $11 million of OTTI reversals. In addition, the three and six months ended June 30, 2014 also reflect a $23 million gain on the sale of a 75 MW wind project.

Tax Credits and Benefits

PTCs from NEER’s wind projects are reflected in NEER’s earnings.  PTCs are recognized as wind energy is generated and sold based on a per kWh rate prescribed in applicable federal and state statutes.  A portion of the PTCs have been allocated to investors in connection with the sales of differential membership interests.  Also see Summary above andNote 5 for a discussion of PTCs, deferred income tax benefits associated with convertible ITCs and other income tax-related charges, as well as benefits associated with differential membership interests - net above.

Major Capital Projects

During the six months ended June 30, 2014, NEER brought into service approximately 75 MW of new contracted U.S. wind generation, which it subsequently sold, and 178 MW of new U.S. solar generation.  In addition to the existing plans to add approximately 805 MW of new contracted solar generation during 2014 through 2016, NEER continues to pursue additional solar opportunities including possibly one large 200 MW to 250 MW project and a development pipeline of smaller 10 MW to 40 MW projects.

Corporate and Other: Results of Operations

Corporate and Other is primarily comprised of the operating results of NEET, FPL FiberNet and other business activities, as well as corporate interest income and expenses.  Corporate and Other allocates non-utility interest expense and shared service costs to NEER.  Interest expense is allocated based on a deemed capital structure of 70% debt and, for purposes of allocating non-utility interest expense, the liability associated with differential membership interests sold by NEER’s subsidiaries is included with debt.  Each subsidiary’s income taxes are calculated based on the "separate return method," except that tax benefits that could not be used on a separate return basis, but are used on the consolidated tax return, are recorded by the subsidiary that generated the tax benefits.  Any remaining consolidated income tax benefits or expenses are recorded at Corporate and Other.  The major components of Corporate and Other’s results, on an after-tax basis, are as follows:

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Interest expense, net of allocations to NEER	$	(26	)	$	(30	)	$	(51	)	$	(58	)
Interest income	8			8			16			16
Federal and state income tax benefits (expenses)	(8		)	(7		)	(1		)	19
Other	14			19			20			38
Net income (loss)	$	(12	)	$	(10	)	$	(16	)	$	15

The decrease in interest expense, net of allocations to NEER, for the three and six months ended June 30, 2014 primarily relates to a higher allocation of interest costs to NEER reflecting a need for additional capital at NEER.  The federal and state income tax benefits (expenses) for both periods reflect consolidating income tax adjustments and, for the six months ended June 30, 2013, includes a $15 millionincome tax benefit recorded as a gain from discontinued operations, net of federal income taxes (see Overview - Adjusted Earnings and Note 6).  Other includes all other corporate income and expenses, as well as other business activities.  The decrease for the three and six months ended June 30, 2014 primarily reflects higher investment losses recorded in 2014.

In May 2014, Lone Star filed a petition with the Public Utility Commission of Texas (PUCT) requesting an annual revenue requirement of approximately $106 million for, among other things, $694 million of rate base, a regulatory equity ratio of 45%, an allowed ROE of 10.25% and other operating expenses.  In July 2014, Lone Star and all intervenors filed a proposed settlement with the PUCT related to the base rate petition.  The proposed settlement provides for a base annual revenue requirement of approximately $102 million, which represents a reduction of $1 million annually from Lone Star's current annual revenue requirement, and maintains Lone Star's currently allowed regulatory equity ratio of 45% and ROE of 9.6%.  The PUCT review of the settlement is anticipated during the third quarter of 2014.

48

LIQUIDITY AND CAPITAL RESOURCES

NEE and its subsidiaries, including FPL, require funds to support and grow their businesses.  These funds are used for, among other things, working capital, capital expenditures, investments in or acquisitions of assets and businesses, payment of maturing debt obligations and, from time to time, redemption or repurchase of outstanding debt or equity securities.  It is anticipated that these requirements will be satisfied through a combination of cash flows from operations, short- and long-term borrowings, the issuance, from time to time, of short- and long-term debt and equity securities and proceeds from the sale of differential membership interests, consistent with NEE’s and FPL’s objective of maintaining, on a long-term basis, a capital structure that will support a strong investment grade credit rating.  NEE, FPL and NEECH rely on access to credit and capital markets as significant sources of liquidity for capital requirements and other operations that are not satisfied by operating cash flows.  The inability of NEE, FPL and NEECH to maintain their current credit ratings could affect their ability to raise short- and long-term capital, their cost of capital and the execution of their respective financing strategies, and could require the posting of additional collateral under certain agreements.

Cash Flows

Sources and uses of NEE's and FPL's cash for the six months ended June 30, 2014 and 2013 were as follows:

	NEE						FPL
	Six Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Sources of cash:
Cash flows from operating activities	$	2,448		$	2,250		$	1,723		$	1,546
Long-term borrowings and change in loan proceeds restricted for construction	2,363			3,069			499			498
Proceeds from the sale of differential membership interests	39			201			—			—
Sale of independent power investments	273			—			—			—
Capital contribution from NEE	—			—			100			—
Cash grants under the Recovery Act	306			170			—			—
Issuances of common stock - net	42			9			—			—
Net increase in short-term debt	925			—			247			241
Other sources - net	54			32			29			12
Total sources of cash	6,450			5,731			2,598			2,297
Uses of cash:
Capital expenditures, independent power and other investments and nuclear fuel purchases	(3,239		)	(3,154		)	(1,678		)	(1,506		)
Retirements of long-term debt	(2,275		)	(1,425		)	(329		)	(427		)
Net decrease in short-term debt	—			(370		)	—			—
Dividends	(630		)	(557		)	(500		)	(340		)
Payments to differential membership investors	(42		)	(37		)	—			—
Other uses - net	(80		)	(106		)	(52		)	(34		)
Total uses of cash	(6,266		)	(5,649		)	(2,559		)	(2,307		)
Net increase (decrease) in cash and cash equivalents	$	184		$	82		$	39		$	(10	)

49

NEE's primary capital requirements are for expanding and enhancing FPL's electric system and generating facilities to continue to provide reliable service to meet customer electricity demands and for funding NEER's investments in independent power and other projects.  The following table provides a summary of the major capital investments for the six months ended June 30, 2014 and 2013.

	Six Months Ended   June 30,
	2014		2013
	(millions)
FPL:
Generation:
New	$	430	$	596
Existing	455		297
Transmission and distribution	587		405
Nuclear fuel	110		41
General and other	63		79
Other, primarily change in accrued property additions and the exclusion of AFUDC - equity	33		88
Total	1,678		1,506
NEER:
Wind	816		634
Solar	284		468
Nuclear, including nuclear fuel	125		112
Other	272		341
Total	1,497		1,555
Corporate and Other	64		93
Total capital expenditures, independent power and other investments and nuclear fuel purchases	$	3,239	$	3,154

See Note 1 - Basis of Presentation for information regarding the NEP initial public offering on July 1, 2014.

See Note 9 regarding financing activity that occurred in July 2014.

50

Liquidity

AtJune 30, 2014, NEE's total net available liquidity was approximately $6.2 billion, of which FPL's portion was approximately $2.8 billion.  The table below provides the components of FPL's and NEECH's net available liquidity atJune 30, 2014:

										Maturity Date
	FPL			NEECH			Total			FPL	NEECH
				(millions)
Bank revolving line of credit facilities(a)	$	3,000		$	4,850		$	7,850		(b)	(b)
Less letters of credit	(7		)	(892		)	(899		)
	2,993			3,958			6,951
Revolving credit facility	235			—			235			2015
Less borrowings	—			—			—
	235			—			235
Letter of credit facilities(c)	—			250			250				2015
Less letters of credit	—			(235		)	(235		)
	—			15			15
Subtotal	3,228			3,973			7,201
Cash and cash equivalents	58			545			603
Less commercial paper and short-term debt	(451		)	(1,165		)	(1,616		)
Net available liquidity	$	2,835		$	3,353		$	6,188

_______________________

(a) Provide for the funding of loans up to $7,850 million ($3,000 million for FPL) and the issuance of letters of credit up to $6,600 million ($2,500 million for FPL).  The entire amount of the credit facilities is available for general corporate purposes and to provide additional liquidity in the event of a loss to the companies’ or their subsidiaries’ operating facilities (including, in the case of FPL, a transmission and distribution property loss).  FPL’s bank revolving line of credit facilities are also available to support the purchase of $633 million of pollution control, solid waste disposal and industrial development revenue bonds (tax exempt bonds) in the event they are tendered by individual bond holders and not remarketed prior to maturity.

(b) $500 million of FPL's and $750 million of NEECH's bank revolving line of credit facilities expire in 2016, essentially all of the remaining facilities at each of FPL and NEECH expire in 2019.

(c) Only available for the issuance of letters of credit.

Additionally, a NEER subsidiary has five variable rate Canadian revolving credit agreements with original capacity totaling C$1,150 million and expiration dates ranging from October 2014 to 2016.  These facilities are available for general corporate purposes; however, the current intent is to use these facilities for the purchase, development, construction and/or operation of Canadian renewable generating assets.  In order to borrow or issue letters of credit under the terms of these agreements, among other things, NEE is required to maintain a ratio of funded debt to total capitalization that does not exceed a stated ratio.  These agreements also contain certain covenants and default and related acceleration provisions relating to, among other things, failure of NEE to maintain a ratio of funded debt to total capitalization at or below the specified ratio.  The payment obligations under these agreements are ultimately guaranteed by NEE.  As of June 30, 2014, approximately $378 million of capacity remained available.

In connection with the closing of the NEP initial public offering on July 1, 2014, NEP OpCo, an indirect majority-owned subsidiary of NEER, and NEP OpCo's direct subsidiaries (Loan Parties) entered into a $250 million variable rate, senior secured revolving credit facility that expires in July 2019.  The revolving credit facility includes borrowing capacity for letters of credit and incremental commitments to increase the revolving credit facility to up to $1 billion in the aggregate, subject to certain conditions.  Borrowings under the revolving credit facility can be used by the Loan Parties to fund working capital and expansion projects, to make acquisitions and for general business purposes.  The revolving credit facility is secured by liens on the assets of NEP OpCo, and certain other assets of, and the ownership interest in, one of its direct subsidiaries, including wind and solar generating facilities with a total generating capability of approximately 990 MW.  The revolving credit facility contains default and related acceleration provisions relating to the failure to make required payments or to observe other covenants in the revolving credit facility and related documents.  Additionally, NEP OpCo and one of its direct subsidiaries are required to comply with certain financial covenants on a quarterly basis and NEP OpCo's ability to pay cash distributions is subject to certain other restrictions.  All borrowings under the revolving credit facility are guaranteed by NEP OpCo and NEP, and must be repaid by the end of the revolving credit term.  As of July 30, 2014, there were no amounts drawn under the revolving credit facility.

Capital Support

Letters of Credit, Surety Bonds and Guarantees

Certain subsidiaries of NEE, including FPL, obtain letters of credit and surety bonds and issue guarantees to facilitate commercial transactions with third parties and financings.  Letters of credit, surety bonds and guarantees support, among other things, the buying and selling of wholesale energy commodities, debt and related reserves, capital expenditures for NEER's wind and solar development, nuclear activities and other contractual agreements.  Substantially all of NEE's and FPL's guarantee arrangements are on behalf of their consolidated subsidiaries for their related payment obligations.

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In addition, as part of contract negotiations in the normal course of business, NEE and certain of its subsidiaries, including FPL, may agree to make payments to compensate or indemnify other parties for possible future unfavorable financial consequences resulting from specified events.  The specified events may include, but are not limited to, an adverse judgment in a lawsuit, the imposition of additional taxes due to a change in tax law or interpretations of the tax law or the non-receipt of renewable tax credits or proceeds from cash grants under the Recovery Act.  NEE and FPL are unable to develop an estimate of the maximum potential amount of future payments under some of these contracts because events that would obligate them have not yet occurred or, if any such event has occurred, they have not been notified of its occurrence.

In addition, NEE has guaranteed certain payment obligations of NEECH, including most of its debt and all of its debentures and commercial paper issuances, as well as most of its payment guarantees and indemnifications, and NEECH has guaranteed certain debt and other obligations of NEER and its subsidiaries.

At June 30, 2014, NEE had approximately $1.2 billion of standby letters of credit ($7 million for FPL), approximately $185 million of surety bonds ($31 million for FPL) and approximately $11.7 billion notional amount of guarantees and indemnifications ($27 million for FPL), of which approximately $8.0 billion of letters of credit, guarantees and indemnifications ($10 million for FPL) have expiration dates within the next five years.

Each of NEE and FPL believe it is unlikely that it would incur any liabilities associated with these letters of credit, surety bonds, guarantees and indemnifications.  Accordingly, at June 30, 2014, NEE and FPL did not have any liabilities recorded for these letters of credit, surety bonds, guarantees and indemnifications.

New Accounting Rules and Interpretations

Revenue Recognition - In May 2014, the FASB issued a new accounting standard related to the recognition of revenue from contracts with customers and required disclosures. See Note 1 - Revenue Recognition.

Energy Marketing and Trading and Market Risk Sensitivity

NEE and FPL are exposed to risks associated with adverse changes in commodity prices, interest rates and equity prices.  Financial instruments and positions affecting the financial statements of NEE and FPL described below are held primarily for purposes other than trading.  Market risk is measured as the potential loss in fair value resulting from hypothetical reasonably possible changes in commodity prices, interest rates or equity prices over the next year.  Management has established risk management policies to monitor and manage such market risks, as well as credit risks.

Commodity Price Risk

NEE and FPL use derivative instruments (primarily swaps, options, futures and forwards) to manage the commodity price risk inherent in the purchase and sale of fuel and electricity.  In addition, NEE, through NEER, uses derivatives to optimize the value of its power generation and gas infrastructure assets and engages in power and gas marketing and trading activities to take advantage of expected future favorable price movements.  See Note 3.

The changes in the fair value of NEE's consolidated subsidiaries' energy contract derivative instruments for the three and six months ended June 30, 2014 were as follows:

				Hedges on Owned Assets
	Trading			Non- Qualifying			FPL Cost Recovery Clauses			NEE Total
	(millions)
Three months ended June 30, 2014
Fair value of contracts outstanding at March 31, 2014	$	317		$	411		$	120		$	848
Reclassification to realized at settlement of contracts	—			(22		)	(59		)	(81		)
Net option premium purchases (issuances)	(66		)	1			—			(65		)
Changes in fair value excluding reclassification to realized	44			(197		)	11			(142		)
Fair value of contracts outstanding at June 30, 2014	295			193			72			560
Net margin cash collateral paid (received)										(134		)
Total mark-to-market energy contract net assets at June 30, 2014	$	295		$	193		$	72		$	426

52

				Hedges on Owned Assets
	Trading			Non- Qualifying			FPL Cost Recovery Clauses			NEE Total
	(millions)
Six months ended June 30, 2014
Fair value of contracts outstanding at December 31, 2013	$	301		$	563		$	46		$	910
Reclassification to realized at settlement of contracts	36			97			(121		)	12
Inception value of new contracts	(21		)	—			—			(21		)
Net option premium purchases (issuances)	(62		)	2			—			(60		)
Changes in fair value excluding reclassification to realized	41			(469		)	147			(281		)
Fair value of contracts outstanding at June 30, 2014	295			193			72			560
Net margin cash collateral paid (received)										(134		)
Total mark-to-market energy contract net assets at June 30, 2014	$	295		$	193		$	72		$	426

NEE's total mark-to-market energy contract net assets at June 30, 2014 shown above are included on the condensed consolidated balance sheets as follows:

	June 30, 2014
	(millions)
Current derivative assets	$	537
Noncurrent derivative assets	863
Current derivative liabilities	(499		)
Noncurrent derivative liabilities	(475		)
NEE's total mark-to-market energy contract net assets	$	426

The sources of fair value estimates and maturity of energy contract derivative instruments at June 30, 2014 were as follows:

	Maturity
	2014			2015			2016			2017			2018			Thereafter			Total
	(millions)
Trading:
Quoted prices in active markets for identical assets	$	11		$	53		$	(9	)	$	(8	)	$	—		$	—		$	47
Significant other observable inputs	41			24			51			44			5			9			174
Significant unobservable inputs	14			36			22			19			(7		)	(10		)	74
Total	66			113			64			55			(2		)	(1		)	295
Owned Assets - Non-Qualifying:
Quoted prices in active markets for identical assets	(4		)	—			—			—			—			—			(4		)
Significant other observable inputs	(45		)	(76		)	(31		)	(30		)	(8		)	(9		)	(199		)
Significant unobservable inputs	10			25			45			46			46			224			396
Total	(39		)	(51		)	14			16			38			215			193
Owned Assets - FPL Cost Recovery Clauses:
Quoted prices in active markets for identical assets	—			—			—			—			—			—			—
Significant other observable inputs	74			(5		)	—			—			—			—			69
Significant unobservable inputs	1			2			—			—			—			—			3
Total	75			(3		)	—			—			—			—			72
Total sources of fair value	$	102		$	59		$	78		$	71		$	36		$	214		$	560

53

The changes in the fair value of NEE's consolidated subsidiaries' energy contract derivative instruments for the three and six months ended June 30, 2013 were as follows:

				Hedges on Owned Assets
	Trading			Non- Qualifying			FPL Cost Recovery Clauses			NEE Total
	(millions)
Three months ended June 30, 2013
Fair value of contracts outstanding at March 31, 2013	$	294		$	574		$	144		$	1,012
Reclassification to realized at settlement of contracts	(3		)	(36		)	(41		)	(80		)
Net option premium purchases (issuances)	(13		)	4			—			(9		)
Changes in fair value excluding reclassification to realized	18			4			(149		)	(127		)
Fair value of contracts outstanding at June 30, 2013	296			546			(46		)	796
Net margin cash collateral paid (received)										(151		)
Total mark-to-market energy contract net assets (liabilities) at June 30, 2013	$	296		$	546		$	(46	)	$	645

				Hedges on Owned Assets
	Trading			Non- Qualifying			FPL Cost Recovery Clauses			NEE Total
	(millions)
Six months ended June 30, 2013
Fair value of contracts outstanding at December 31, 2012	$	261		$	674		$	(15	)	$	920
Reclassification to realized at settlement of contracts	(6		)	(46		)	(26		)	(78		)
Inception value of new contracts	3			—			—			3
Net option premium purchases (issuances)	(19		)	(8		)	—			(27		)
Changes in fair value excluding reclassification to realized	57			(74		)	(5		)	(22		)
Fair value of contracts outstanding at June 30, 2013	296			546			(46		)	796
Net margin cash collateral paid (received)										(151		)
Total mark-to-market energy contract net assets (liabilities) at June 30, 2013	$	296		$	546		$	(46	)	$	645

With respect to commodities,NEE’s EMC, which is comprised of certain members of senior management, and NEE's chief executive officer are responsible for the overall approval of market risk management policies and the delegation of approval and authorization levels.  The EMC and NEE's chief executive officer receive periodic updates on market positions and related exposures, credit exposures and overall risk management activities.

NEE uses a value-at-risk (VaR) model to measure commodity price market risk in its trading and mark-to-market portfolios.  The VaR is the estimated nominal loss of market value based on a one-day holding period at a 95% confidence level using historical simulation methodology. The VaR figures are as follows:

	Trading						Non-Qualifying Hedges and Hedges in FPL Cost Recovery Clauses(a)						Total
	FPL		NEER		NEE		FPL		NEER		NEE		FPL		NEER		NEE
									(millions)
December 31, 2013	$	—	$	2	$	2	$	36	$	54	$	43	$	36	$	55	$	42
June 30, 2014	$	—	$	2	$	2	$	36	$	48	$	39	$	36	$	47	$	39
Average for the six months ended June 30, 2014	$	—	$	3	$	3	$	46	$	48	$	40	$	46	$	49	$	40

______________________

(a) Non-qualifying hedges are employed to reduce the market risk exposure to physical assets or contracts which are not marked to market.  The VaR figures for the non-qualifying hedges and hedges in FPL cost recovery clauses category do not represent the economic exposure to commodity price movements.

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Interest Rate Risk

NEE and FPL are exposed to risk resulting from changes in interest rates as a result of their respective issuances of debt, investments in special use funds and other investments.  NEE and FPL manage their respective interest rate exposure by monitoring current interest rates, entering into interest rate contracts and using a combination of fixed rate and variable rate debt.  Interest rate contracts are used to mitigate and adjust interest rate exposure when deemed appropriate based upon market conditions or when required by financing agreements.

The following are estimates of the fair value of NEE's and FPL's financial instruments that are exposed to interest rate risk:

	June 30, 2014							December 31, 2013
	Carrying Amount			Estimated Fair Value				Carrying Amount			Estimated Fair Value
	(millions)
NEE:
Fixed income securities:
Special use funds	$	2,404		$	2,404		(a)	$	2,195		$	2,195		(a)
Other investments:
Debt securities	$	129		$	129		(a)	$	113		$	113		(a)
Primarily notes receivable	$	522		$	689		(b)	$	531		$	627		(b)
Long-term debt, including current maturities	$	28,328		$	30,448		(c)	$	27,728		$	28,612		(c)
Interest rate contracts - net unrealized losses	$	(170	)	$	(170	)	(d)	$	(130	)	$	(130	)	(d)
FPL:
Fixed income securities - special use funds	$	1,898		$	1,898		(a)	$	1,735		$	1,735		(a)
Long-term debt, including current maturities	$	9,000		$	10,253		(c)	$	8,829		$	9,451		(c)

————————————

(a) Primarily estimated using quoted market prices for these or similar issues.

(b) Primarily estimated using a discounted cash flow valuation technique based on certain observable yield curves and indices considering the credit profile of the borrower.

(c) Estimated using either quoted market prices for the same or similar issues or discounted cash flow valuation technique, considering the current credit spread of the debtor.

(d) Modeled internally using discounted cash flow valuation technique and applying a credit valuation adjustment.

The special use funds of NEE and FPL consist of restricted funds set aside to cover the cost of storm damage for FPL and for the decommissioning of NEE's and FPL's nuclear power plants.  A portion of these funds is invested in fixed income debt securities primarily carried at estimated fair value.  At FPL, changes in fair value, including any OTTI losses, result in a corresponding adjustment to the related liability accounts based on current regulatory treatment.  The changes in fair value of NEE's non-rate regulated operations result in a corresponding adjustment to OCI, except for impairments deemed to be other than temporary, including any credit losses, which are reported in current period earnings.  Because the funds set aside by FPL for storm damage could be needed at any time, the related investments are generally more liquid and, therefore, are less sensitive to changes in interest rates.  The nuclear decommissioning funds, in contrast, are generally invested in longer-term securities, as decommissioning activities are not scheduled to begin until at least 2030 (2032 at FPL).

As of June 30, 2014, NEE had interest rate contracts with a notional amount of approximately $7.1 billion related to long-term debt issuances, of which $2.5 billion are fair value hedges at NEECH that effectively convert fixed-rate debt to a variable-rate instrument.  The remaining $4.6 billion of notional amount of interest rate contracts relate to cash flow hedges to manage exposure to the variability of cash flows associated with variable-rate debt instruments, all of which relate to NEER debt issuances.  At June 30, 2014, the estimated fair value of NEE's fair value hedges and cash flow hedges was approximately $29 million and $(199) million, respectively.  See Note 3.

Based upon a hypothetical 10% decrease in interest rates, which is a reasonable near-term market change, the net fair value of NEE's net liabilities would increase by approximately $889 million ($483 million for FPL) at June 30, 2014.

Equity Price Risk

NEE and FPL are exposed to risk resulting from changes in prices for equity securities.  For example, NEE’s nuclear decommissioning reserve funds include marketable equity securities primarily carried at their market value of approximately $2,630 million and $2,585 million ($1,536 million and $1,538 million for FPL) atJune 30, 2014 and December 31, 2013, respectively.  At June 30, 2014, a hypothetical 10% decrease in the prices quoted on stock exchanges, which is a reasonable near-term market change, would result in a $252 million ($148 million for FPL) reduction in fair value.  For FPL, a corresponding adjustment would be made to the related liability accounts based on current regulatory treatment, and for NEE’s non-rate regulated operations, a corresponding adjustment would be made to OCI to the extent the market value of the securities exceeded amortized cost and to OTTI loss to the extent the market value is below amortized cost.

55

Credit Risk

NEE and its subsidiaries are also exposed to credit risk through their energy marketing and trading operations.  Credit risk is the risk that a financial loss will be incurred if a counterparty to a transaction does not fulfill its financial obligation.  NEE manages counterparty credit risk for its subsidiaries with energy marketing and trading operations through established policies, including counterparty credit limits, and in some cases credit enhancements, such as cash prepayments, letters of credit, cash and other collateral and guarantees.

Credit risk is also managed through the use of master netting agreements.  NEE’s credit department monitors current and forward credit exposure to counterparties and their affiliates, both on an individual and an aggregate basis.  For all derivative and contractual transactions, NEE’s energy marketing and trading operations, which include FPL’s energy marketing and trading division, are exposed to losses in the event of nonperformance by counterparties to these transactions.  Some relevant considerations when assessing NEE’s energy marketing and trading operations’ credit risk exposure include the following:

• Operations are primarily concentrated in the energy industry.

• Trade receivables and other financial instruments are predominately with energy, utility and financial services related companies, as well as municipalities, cooperatives and other trading companies in the U.S.

• Overall credit risk is managed through established credit policies and is overseen by the EMC.

• Prospective and existing customers are reviewed for creditworthiness based upon established standards, with customers not meeting minimum standards providing various credit enhancements or secured payment terms, such as letters of credit or the posting of margin cash collateral.

• Master netting agreements are used to offset cash and non-cash gains and losses arising from derivative instruments with the same counterparty.  NEE’s policy is to have master netting agreements in place with significant counterparties.

Based on NEE’s policies and risk exposures related to credit, NEE and FPL do not anticipate a material adverse effect on their financial statements as a result of counterparty nonperformance.  As of June 30, 2014, approximately 94% of NEE’s and 98% of FPL’s energy marketing and trading counterparty credit risk exposure is associated with companies that have investment grade credit ratings.

56

Item 3.Quantitative and Qualitative Disclosures About Market Risk

See Management's Discussion - Energy Marketing and Trading and Market Risk Sensitivity.

Item 4.  Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

As of June 30, 2014, each of NEE and FPL had performed an evaluation, under the supervision and with the participation of its management, including NEE's and FPL's chief executive officer and chief financial officer, of the effectiveness of the design and operation of each company's disclosure controls and procedures (as defined in the Securities Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e)).  Based upon that evaluation, the chief executive officer and the chief financial officer of each of NEE and FPL concluded that the company's disclosure controls and procedures were effective as of June 30, 2014.

(b) Changes in Internal Control Over Financial Reporting

NEE and FPL are continuously seeking to improve the efficiency and effectiveness of their operations and of their internal controls.  This results in refinements to processes throughout NEE and FPL.  However, there has been no change in NEE's or FPL's internal control over financial reporting (as defined in the Securities Exchange Act of 1934 Rules 13a-15(f) and 15d-15(f)) that occurred during NEE's and FPL's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, NEE's or FPL's internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

NEE and FPL are parties to various legal and regulatory proceedings in the ordinary course of their respective businesses.  For information regarding legal proceedings that could have a material effect on NEE or FPL, see Item 3. Legal Proceedings and Note 13 - Legal Proceedings to Consolidated Financial Statements in the 2013 Form 10-K and Note 10 - Legal Proceedings herein.  Such descriptions are incorporated herein by reference.

Item 1A.  Risk Factors

There have been no material changes from the risk factors disclosed in the 2013 Form 10-K.  The factors discussed in Part I, Item 1A. Risk Factors in the 2013 Form 10-K, as well as other information set forth in this report, which could materially adversely affect NEE's and FPL's business, financial condition, results of operations and prospects should be carefully considered.  The risks described in the 2013 Form 10-K are not the only risks facing NEE and FPL.  Additional risks and uncertainties not currently known to NEE or FPL, or that are currently deemed to be immaterial, also may materially adversely affect NEE's or FPL's business, financial condition, results of operations and prospects.

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

(c) Information regarding purchases made by NEE of its common stock during the three months ended June 30, 2014 is as follows:

Period	Total Number of Shares Purchased(a)	Average Price Paid Per Share		Total Number of Shares Purchased as Part of a Publicly Announced Program	Maximum Number of Shares that May Yet be Purchased Under the Program(b)
4/1/14 - 4/30/14	—	$	—	—	13,274,748
5/1/14 - 5/31/14	5,527	$	96.27	—	13,274,748
6/1/14 - 6/30/14	472	$	97.09	—	13,274,748
Total	5,999	$	96.33	—

————————————

(a) Includes: (1) in May 2014, shares of common stock withheld from employees to pay certain withholding taxes upon the vesting of stock awards granted to such employees under the NextEra Energy, Inc. Amended and Restated 2011 Long-Term Incentive Plan and the NextEra Energy, Inc. Amended and Restated Long-Term Incentive Plan (former LTIP); and (2) in June 2014, shares of common stock purchased as a reinvestment of dividends by the trustee of a grantor trust in connection with NEE's obligation under a February 2006 grant under the former LTIP to an executive officer of deferred retirement share awards.

(b) In February 2005, NEE's Board of Directors authorized common stock repurchases of up to 20 million shares of common stock over an unspecified period, which authorization was most recently reaffirmed and ratified by the Board of Directors in July 2011.

57

Item 5. Other Information

(a) None

(b) None

(c) Other events

(i) Reference is made to Item 1. Business - NEE's Operating Subsidiaries - FPL - FPL Sources of Generation - Nuclear Operations in the 2013 Form 10-K.

The current operating licenses for FPL’s nuclear units at the Turkey Point site include, among other things, a requirement that the maximum allowed water temperature in the Turkey Point cooling canal system not exceed 100 degrees. During July 2014, numerous factors contributed to higher-than-usual temperatures in the cooling canal system, including high summer temperatures, lack of rainfall, reduced water levels and the existence of an algae bloom, which resulted in the water temperature in the cooling canal system exceeding 100 degrees on several occasions. As a result, FPL requested and received temporary enforcement discretion from the NRC to deviate from the water temperature requirement. This discretion allows FPL to operate the Turkey Point nuclear units up to a maximum water temperature of 103 degrees through August 9, 2014. FPL has also filed for a permanent change to the operating licenses of the Turkey Point nuclear units requesting that the NRC increase the maximum allowed water temperature to 104 degrees (less instrument uncertainty); which decision is pending.  If the water temperature exceeds the maximum permitted level, FPL will be required to commence shut down of the Turkey Point nuclear units within a certain timeframe until the water temperature in the cooling canal system returns to below the maximum permitted level, unless further regulatory action is requested and granted.

(ii) Reference is made to Item 1. Business - NEE's Operating Subsidiaries - FPL - FPL Sources of Generation - Nuclear Operations - Spent Nuclear Fuel - Nuclear Waste Policy Act of 1982, as amended (Nuclear Waste Policy Act) and Item 1. Business - NEE's Operating Subsidiaries - NEER - Generation and Other Operations - NEER Fuel/Technology Mix - Nuclear Facilities - Spent Nuclear Fuel in the 2013 Form 10-K and Part II, Item 5. (c)(i) in the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014 for NEE and FPL.

Beginning on May 16, 2014, the generation-based fees paid to the U.S. government's nuclear waste fund by NEE subsidiaries, including FPL, that own and operate nuclear facilities was set at zero pursuant to a November 2013 order from the U.S. Court of Appeals for the District of Columbia Circuit.

(iii) Reference is made to Item 1. Business - NEE Environmental Matters - Environmental Regulations - Clean Water Act Section 316(b) in the 2013 Form 10-K.

In May 2014, the EPA issued its final rule under Section 316(b) of the Clean Water Act outlining the process and framework for determining the Best Technology Available to reduce the impact on aquatic organisms from once-through cooling water intake systems.  Under the rule, potentially twelve of FPL's facilities and five of NEER's facilities may be required to add additional controls and/or make operational changes to comply. NEE and FPL are analyzing the final rule, and their complete understanding of the impacts will evolve over years of site specific studies, permit evaluations and negotiations.  Therefore, the impact of any final compliance obligations is uncertain at this time.

(iv) Reference is made to Item 1. Business - NEE Environmental Matters - Environmental Regulations - Regulations of Greenhouse Gas (GHG) Emissions in the 2013 Form 10-K.

In June 2014, the EPA issued a proposed rule under Section 111(d) of the Clean Air Act to reduce carbon emissions from existing fossil fuel-fired power units.  The proposed rule sets emission rate targets for each state and requires each state to develop a compliance plan by June 2016 to meet these emissions targets.  The proposed rule indicates that official compliance will start in 2020 with both interim and final target dates, each with specific emissions reductions.  NEE and FPL are analyzing the proposed rule and the impact of any final compliance obligations is uncertain at this time.  A final rule is expected by June 2015.

Also in June 2014, the U.S. Supreme Court issued an opinion rejecting the EPA’s determination that its regulation of GHG emissions from new motor vehicles triggered permitting requirements under the Clean Air Act for stationary sources that emit GHG. However, the Court held that the EPA can require Best Available Control Technology for GHG emissions from stationary sources that would otherwise need a prevention of significant deterioration permit based on their emissions of conventional pollutants.  The EPA continues to have the authority to regulate GHG emissions from new fossil fuel-fired power units under Section 111(b) and existing fossil fuel-fired power units under Section 111(d) of the Clean Air Act.

58

Item 6.  Exhibits

Exhibit Number	Description	NEE	FPL
*4(a)	Mortgage and Deed of Trust dated as of January 1, 1944, and One hundred and twenty-two Supplements thereto, between Florida Power & Light Company and Deutsche Bank Trust Company Americas, Trustee (filed as Exhibit B-3, File No. 2-4845; Exhibit 7(a), File No. 2-7126; Exhibit 7(a), File No. 2-7523; Exhibit 7(a), File No. 2-7990; Exhibit 7(a), File No. 2-9217; Exhibit 4(a)-5, File No. 2-10093; Exhibit 4(c), File No. 2-11491; Exhibit 4(b)-1, File No. 2-12900; Exhibit 4(b)-1, File No. 2-13255; Exhibit 4(b)-1, File No. 2-13705; Exhibit 4(b)-1, File No. 2-13925; Exhibit 4(b)-1, File No. 2-15088; Exhibit 4(b)-1, File No. 2-15677; Exhibit 4(b)-1, File No. 2-20501; Exhibit 4(b)-1, File No. 2-22104; Exhibit 2(c), File No. 2-23142; Exhibit 2(c), File No. 2-24195; Exhibit 4(b)-1, File No. 2-25677; Exhibit 2(c), File No. 2-27612; Exhibit 2(c), File No. 2-29001; Exhibit 2(c), File No. 2-30542; Exhibit 2(c), File No. 2-33038; Exhibit 2(c), File No. 2-37679; Exhibit 2(c), File No. 2-39006; Exhibit 2(c), File No. 2-41312; Exhibit 2(c), File No. 2-44234; Exhibit 2(c), File No. 2-46502; Exhibit 2(c), File No. 2-48679; Exhibit 2(c), File No. 2-49726; Exhibit 2(c), File No. 2-50712; Exhibit 2(c), File No. 2-52826; Exhibit 2(c), File No. 2-53272; Exhibit 2(c), File No. 2-54242; Exhibit 2(c), File No. 2-56228; Exhibits 2(c) and 2(d), File No. 2-60413; Exhibits 2(c) and 2(d), File No. 2-65701; Exhibit 2(c), File No. 2-66524; Exhibit 2(c), File No. 2-67239; Exhibit 4(c), File No. 2-69716; Exhibit 4(c), File No. 2-70767; Exhibit 4(b), File No. 2-71542; Exhibit 4(b), File No. 2-73799; Exhibits 4(c), 4(d) and 4(e), File No. 2-75762; Exhibit 4(c), File No. 2-77629; Exhibit 4(c), File No. 2-79557; Exhibit 99(a) to Post-Effective Amendment No. 5 to Form S-8, File No. 33-18669; Exhibit 99(a) to Post-Effective Amendment No. 1 to Form S-3, File No. 33-46076; Exhibit 4(b) to Form 10-K for the year ended December 31, 1993, File No. 1-3545; Exhibit 4(i) to Form 10-Q for the quarter ended June 30, 1994, File No. 1-3545; Exhibit 4(b) to Form 10-Q for the quarter ended June 30, 1995, File No. 1-3545; Exhibit 4(a) to Form 10-Q for the quarter ended March 31,1996, File No. 1-3545; Exhibit 4 to Form 10-Q for the quarter ended June 30, 1998, File No. 1-3545; Exhibit 4 to Form 10-Q for the quarter ended March 31, 1999, File No. 1-3545; Exhibit 4(f) to Form 10-K for the year ended December 31, 2000, File No. 1-3545; Exhibit 4(g) to Form 10-K for the year ended December 31, 2000, File No. 1-3545; Exhibit 4(o), File No. 333-102169; Exhibit 4(k) to Post-Effective Amendment No. 1 to Form S-3, File No. 333-102172; Exhibit 4(l) to Post-Effective Amendment No. 2 to Form S-3, File No. 333-102172; Exhibit 4(m) to Post-Effective Amendment No. 3 to Form S-3, File No. 333-102172; Exhibit 4(a) to Form 10-Q for the quarter ended September 30, 2004, File No. 2-27612; Exhibit 4(f) to Amendment No. 1 to Form S-3, File No. 333-125275; Exhibit 4(y) to Post-Effective Amendment No. 2 to Form S-3, File Nos. 333-116300, 333-116300-01 and 333-116300-02; Exhibit 4(z) to Post-Effective Amendment No. 3 to Form S-3, File Nos. 333-116300, 333-116300-01 and 333-116300-02; Exhibit 4(b) to Form 10-Q for the quarter ended March 31, 2006, File No. 2-27612; Exhibit 4(a) to Form 8-K dated April 17, 2007, File No. 2-27612; Exhibit 4 to Form 8-K dated October 10, 2007, File No. 2-27612; Exhibit 4 to Form 8-K dated January 16, 2008, File No. 2-27612; Exhibit 4(a) to Form 8-K dated March 17, 2009, File No. 2-27612; Exhibit 4 to Form 8-K dated February 9, 2010, File No. 2-27612; Exhibit 4 to Form 8-K dated December 9, 2010, File No. 2-27612; Exhibit 4(a) to Form 8-K dated June 10, 2011, File No. 2-27612; Exhibit 4 to Form 8-K dated December 13, 2011, File No. 2-27612; Exhibit 4 to Form 8-K dated May 15, 2012, File No. 2-27612; Exhibit 4 to Form 8-K dated December 20, 2012, File No. 2-27612; Exhibit 4 to Form 8-K dated June 5, 2013, File No. 2-27612; and Exhibit 4 to Form 8-K dated May 15, 2014, File No. 2-27612)	x	x
*4(b)	Officer's Certificate of NextEra Energy Capital Holdings, Inc., dated June 6, 2014, creating the 2.40% Debentures, Series due September 15, 2019 (filed as Exhibit 4 to Form 8-K dated June 6, 2014, File No. 1-8841)	x
12(a)	Computation of Ratios	x
12(b)	Computation of Ratios		x
31(a)	Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer of NextEra Energy, Inc.	x
31(b)	Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer of NextEra Energy, Inc.	x
31(c)	Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer of Florida Power & Light Company		x
31(d)	Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer of Florida Power & Light Company		x
32(a)	Section 1350 Certification of NextEra Energy, Inc.	x
32(b)	Section 1350 Certification of Florida Power & Light Company		x
101.INS	XBRL Instance Document	x	x
101.SCH	XBRL Schema Document	x	x
101.PRE	XBRL Presentation Linkbase Document	x	x

59

Exhibit Number	Description	NEE	FPL
101.CAL	XBRL Calculation Linkbase Document	x	x
101.LAB	XBRL Label Linkbase Document	x	x
101.DEF	XBRL Definition Linkbase Document	x	x

_________________________

*Incorporated herein by reference

NEE and FPL agree to furnish to the SEC upon request any instrument with respect to long-term debt that NEE and FPL have not filed as an exhibit pursuant to the exemption provided by Item 601(b)(4)(iii)(A) of Regulation S-K.

60

		SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.
Date:	July 30, 2014
		NEXTERA ENERGY, INC. (Registrant)
		CHRIS N. FROGGATT
		Chris N. Froggatt Vice President, Controller and Chief Accounting Officer of NextEra Energy, Inc. (Principal Accounting Officer of NextEra Energy, Inc.)
		FLORIDA POWER & LIGHT COMPANY (Registrant)
		KIMBERLY OUSDAHL
		Kimberly Ousdahl Vice President, Controller and Chief Accounting Officer of Florida Power & Light Company (Principal Accounting Officer of Florida Power & Light Company)

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EX-12.A

Exhibit 12(a)

NEXTERA ENERGY, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS^(a) 

	Six Months Ended   June 30, 2014
	(millions of dollars)
Earnings, as defined:
Income from continuing operations	$	921
Income taxes	444
Fixed charges included in the determination of income from continuing operations, as below	660
Amortization of capitalized interest	19
Distributed income of equity method investees	14
Less:  Equity in earnings of equity method investees	22
Total earnings, as defined	$	2,036
Fixed charges, as defined:
Interest expense	$	624
Rental interest factor	28
Allowance for borrowed funds used during construction	8
Fixed charges included in the determination of income from continuing operations	660
Capitalized interest	57
Total fixed charges, as defined	$	717
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)	2.84

————————————

(a) NextEra Energy, Inc. has no preference equity securities outstanding; therefore, the ratio of earnings to fixed charges is the same as the ratio of earnings to combined fixed charges and preferred stock dividends.

EX-12.B

Exhibit 12(b)

FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS^(a) 

	Six Months Ended   June 30, 2014
	(millions of dollars)
Earnings, as defined:
Net income	$	769.7
Income taxes	453.9
Fixed charges included in the determination of net income, as below	227.0
Total earnings, as defined	$	1,450.6
Fixed charges, as defined:
Interest expense	$	213.0
Rental interest factor	5.7
Allowance for borrowed funds used during construction	8.3
Total fixed charges, as defined	$	227.0
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)	6.39

————————————

(a) Florida Power & Light Company has no preference equity securities outstanding; therefore, the ratio of earnings to fixed charges is the same as the ratio of earnings to combined fixed charges and preferred stock dividends.

EX-31.A

Exhibit 31(a)

Rule 13a-14(a)/15d-14(a) Certification

I, James L. Robo, certify that:

1. I have reviewed this Form 10-Q for the quarterly period ended June 30, 2014 of NextEra Energy, Inc. (the registrant);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2014

JAMES L. ROBO

James L. Robo

Chairman, President and Chief Executive Officer

of NextEra Energy, Inc.

EX-31.B

Exhibit 31(b)

Rule 13a-14(a)/15d-14(a) Certification

I, Moray P. Dewhurst, certify that:

1. I have reviewed this Form 10-Q for the quarterly period ended June 30, 2014 of NextEra Energy, Inc. (the registrant);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2014

MORAY P. DEWHURST

Moray P. Dewhurst

Vice Chairman and Chief Financial Officer,

and Executive Vice President - Finance

of NextEra Energy, Inc.

EX-31.C

Exhibit 31(c)

Rule 13a-14(a)/15d-14(a) Certification

I, Eric E. Silagy, certify that:

1. I have reviewed this Form 10-Q for the quarterly period ended June 30, 2014 of Florida Power & Light Company (the registrant);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2014

ERIC E. SILAGY

Eric E. Silagy

President and Chief Executive Officer

of Florida Power & Light Company

EX-31.D

Exhibit 31(d)

Rule 13a-14(a)/15d-14(a) Certification

I, Moray P. Dewhurst, certify that:

1. I have reviewed this Form 10-Q for the quarterly period ended June 30, 2014 of Florida Power & Light Company (the registrant);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2014

MORAY P. DEWHURST

Moray P. Dewhurst

Executive Vice President, Finance

and Chief Financial Officer

of Florida Power & Light Company

EX-32.A

Exhibit 32(a)

Section 1350 Certification

We, James L. Robo and Moray P. Dewhurst, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Quarterly Report on Form 10-Q of NextEra Energy, Inc. (the registrant) for the quarterly period ended June 30, 2014 (Report) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

Dated: July 30, 2014

JAMES L. ROBO

James L. Robo

Chairman, President and Chief Executive Officer

of NextEra Energy, Inc.

MORAY P. DEWHURST

Moray P. Dewhurst

Vice Chairman and Chief Financial Officer,

and Executive Vice President - Finance

of NextEra Energy, Inc.

A signed original of this written statement required by Section 906 has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished as an exhibit to the Report pursuant to Item 601(b)(32) of Regulation S-K and Section 906 of the Sarbanes-Oxley Act of 2002 and, accordingly, is not being filed with the Securities and Exchange Commission as part of the Report and is not to be incorporated by reference into any filing of the registrant under the Securities Act of 1933 or the Securities Exchange Act of 1934 (whether made before or after the date of the Report, irrespective of any general incorporation language contained in such filing).

EX-32.B

Exhibit 32(b)

Section 1350 Certification

We, Eric E. Silagy and Moray P. Dewhurst, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Quarterly Report on Form 10-Q of Florida Power & Light Company (the registrant) for the quarterly period ended June 30, 2014 (Report) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

Dated: July 30, 2014

ERIC E. SILAGY

Eric E. Silagy

President and Chief Executive Officer

of Florida Power & Light Company

MORAY P. DEWHURST

Moray P. Dewhurst

Executive Vice President, Finance and

Chief Financial Officer

of Florida Power & Light Company

A signed original of this written statement required by Section 906 has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished as an exhibit to the Report pursuant to Item 601(b)(32) of Regulation S-K and Section 906 of the Sarbanes-Oxley Act of 2002 and, accordingly, is not being filed with the Securities and Exchange Commission as part of the Report and is not to be incorporated by reference into any filing of the registrant under the Securities Act of 1933 or the Securities Exchange Act of 1934 (whether made before or after the date of the Report, irrespective of any general incorporation language contained in such filing).

XML

Fair Value Measurements (Reconciliation of Changes in the Fair Value of Derivatives) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Realized and unrealized gains (losses): [Abstract]
Realized and unrealized gains (losses) reflected in operating revenues	$ (49)				$ (453)		$ 1
Realized and unrealized gains (losses) reflected in interest expense			11		(41)		11
Unrealized gains (losses) reflected in operating revenues related to derivatives still held at the reporting date	(49)				(219)		32
Unrealized gains (losses) reflected in interest expense related to derivatives still held at the reporting date			11				11
Derivative Financial Instruments, Net [Member]
Reconciliation of changes in the fair value of derivatives measured based on significant unobservable inputs Roll Forward [Abstract]
Fair value of net derivatives based on significant unobservable inputs, beginning balance	460		522		622		566
Realized and unrealized gains (losses): [Abstract]
Included in Earnings	(73)	[1]	13	[1]	(496)	[2]	10	[2]
Included in regulatory assets and liabilities	1		(3)		5		(2)
Purchases	10		21		14		70
Settlements	38		(23)		304		(56)
Issuances	(75)		(30)		(94)		(94)
Transfers in	9	[3]	(114)	[3]	16	[3]	(114)	[3]
Transfers out	(16)	[3]	(2)	[3]	(17)	[3]	4	[3]
Fair value of net derivatives based on significant unobservable inputs, ending balance	354		384		354		384
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date	(73)	[4]	12	[4]	(260)	[5]	40	[5]
FPL [Member] | Derivative Financial Instruments, Net [Member]
Reconciliation of changes in the fair value of derivatives measured based on significant unobservable inputs Roll Forward [Abstract]
Fair value of net derivatives based on significant unobservable inputs, beginning balance	3		2		0		2
Realized and unrealized gains (losses): [Abstract]
Included in Earnings	0	[1]	0	[1]	0	[2]	0	[2]
Included in regulatory assets and liabilities	1		(3)		5		(2)
Purchases	0		0		0		0
Settlements	(1)		0		(2)		(1)
Issuances	0		0		0		0
Transfers in	0	[3]	0	[3]	0	[3]	0	[3]
Transfers out	0	[3]	0	[3]	0	[3]	0	[3]
Fair value of net derivatives based on significant unobservable inputs, ending balance	3		(1)		3		(1)
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date	$ 0	[4]	$ 0	[4]	$ 0	[5]	$ 0	[5]

[1] For the three months ended June 30, 2014, realized and unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense. For the three months ended June 30, 2013, realized and unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

[2] For the six months ended June 30, 2014, realized and unrealized losses of approximately $453 million are reflected in the condensed consolidated statements of income in operating revenues, $41 million in interest expense and the balance is reflected in fuel, purchased power and interchange. For the six months ended June 30, 2013, realized and unrealized gains (losses) of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense, $1 million in operating revenues and the balance is reflected in fuel, purchased power and interchange.

[3] Transfers into Level 3 were a result of decreased observability of market data and, in 2013, a significant credit valuation adjustment. Transfers from Level 3 to Level 2 were a result of increased observability of market data. NEE's and FPL's policy is to recognize all transfers at the beginning of the reporting period.

[4] For the three months ended June 30, 2014, unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense. For the three months ended June 30, 2013, unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

[5] For the six months ended June 30, 2014, unrealized losses of approximately $219 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense. For the six months ended June 30, 2013, unrealized gains (losses) of approximately $32 million are reflected in the condensed consolidated statements of income in operating revenues, $11 million in interest expense and the balance is reflected in fuel, purchased power and interchange.

XML

Segment Information (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013		Dec. 31, 2013
Segment Reporting Information [Line Items]
OPERATING REVENUES	$ 4,029		$ 3,833		$ 7,703		$ 7,112
Operating expenses	3,078		2,852		6,013		5,697
Income (loss) from continuing operations	492		610		921		652	[1]
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	0		0		0		231	[1],[2]
Net income (loss)	492		610	[3]	921		883
Total assets	71,590				71,590				69,306
Deemed capital structure of NextEra Energy Resources	70.00%				70.00%
Impairment charge	0		0		0		300
Impairment Of Long Lived Assets Held For Use After Tax							342
FPL [Member]
Segment Reporting Information [Line Items]
Operating expenses							3,618
Income (loss) from continuing operations							679
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES							0
NextEra Energy Resources [Member]
Segment Reporting Information [Line Items]
Operating revenues	1,036	[4]	1,046	[4]	2,069	[4]	2,062	[4]
Operating expenses	896	[4]	806	[4]	1,846	[4]	1,955	[4],[5]
Income (loss) from continuing operations					167	[4],[6]	(27)	[1],[4],[6]
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES					0	[4]	216	[1],[2],[4]
Net income (loss)	81	[4],[6]	229	[4],[6]	167	[4],[6]	189	[4],[6]
Total assets	30,952				30,952				30,154
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	104		91		210		165
Operating expenses	75		74		157		124
Income (loss) from continuing operations					(16)		0
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES					0		15	[1],[2]
Net income (loss)	(12)		(10)		(16)		15
Total assets	2,756				2,756				2,664
NextEra Energy Resources [Member]
Segment Reporting Information [Line Items]
Impairment charge							300
Impairment Of Long Lived Assets Held For Use After Tax							342
FPL [Member]
Segment Reporting Information [Line Items]
OPERATING REVENUES	2,889		2,696		5,424		4,885
Operating expenses	2,107		1,972		4,010		3,618
Net income (loss)	423	[7]	391	[7]	770	[7]	679	[7]
Total assets	37,882				37,882				36,488
FPL [Member] | Subsegments [Domain]
Segment Reporting Information [Line Items]
Operating expenses	2,107				4,010
Income (loss) from continuing operations					770
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES					0
Net income (loss)	$ 423

[1] Prior year amounts were restated to conform to current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements

[2] See Note 6.

[3] Represents FPL and consolidating adjustments.

[4] Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt. For this purpose, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt. Residual non-utility interest expense is included in Corporate and Other.

[5] Includes an impairment charge on NEER's Spain solar projects of $300 million. See Note 4 - Nonrecurring Fair Value Measurements

[6] Includes NEER's tax benefits related to PTCs and for the six months ended June 30, 2013 also includes after-tax charges of $342 million associated with the impairment of the Spain solar projects. See Note 4 - Nonrecurring Fair Value Measurements and Note 5

[7] (a)FPL's comprehensive income is the same as reported net income.

XML

Debt (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014
senior secured limited-recourse term loan due 2019 [Member] | NextEra Energy Resources subsidiary [Member]
Debt Instrument [Line Items]
Interest Rate Terms	Variable	[1]
Face amount	$ 44
Canadian senior secured limited-recourse term loan [Member] | NextEra Energy Resources subsidiary [Member]
Debt Instrument [Line Items]
Interest Rate Terms	Variable	[1],[2]
Face amount	157
Japanese yen denominated term loan [Member] | Capital Holdings [Member]
Debt Instrument [Line Items]
Interest Rate Terms	Variable	[1],[2],[3]
Face amount	540
Debentures [Member] | Debentures Sold March 2014 [Member] | Capital Holdings [Member]
Debt Instrument [Line Items]
Stated interest rate	2.70%	[2]
Face amount	350
Debentures [Member] | Debentures Sold June 2014 [Member] | Capital Holdings [Member]
Debt Instrument [Line Items]
Stated interest rate	2.40%	[2]
Face amount	350
Senior Secured Limited-Recourse Notes [Member] | NextEra Energy Resources subsidiary [Member]
Debt Instrument [Line Items]
Stated interest rate	5.60%
Face amount	280
First Mortgage Bonds [Member] | FPL [Member]
Debt Instrument [Line Items]
Stated interest rate	3.25%
Face amount	500
Revolving Credit Facility [Member] | Canadian revolving credit agreements [Member] | NextEra Energy Resources subsidiary [Member]
Debt Instrument [Line Items]
Interest Rate Terms	Variable	[1]
Proceeds from Issuance of Debt	$ 492

[1] Variable rate is based on an underlying index plus a margin.

[2] Interest rate swap agreements have been entered into with respect to these issuances. See Note 3.

[3] Cross currency basis swap agreements were entered into with respect to both interest and principal payments on this loan.

XML

Summarized Financial Information of Capital Holdings (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014	Jun. 30, 2013		Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
NEECH a 100% owned subsidiary of NEE	100.00%				100.00%
Condensed Consolidating Statements of Income
Operating revenues	$ 4,029		$ 3,833		$ 7,703	$ 7,112
Operating expenses	(3,078)		(2,852)		(6,013)	(5,697)
Interest expense	(305)		(266)		(624)	(537)
Equity in earnings of subsidiaries	0		0		0	0
Other income (deductions) - net	138		106	[1]	299	129
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	784		821	[1]	1,365	1,007
Income tax expense (benefit)	292		211	[1]	444	355
Income (loss) from continuing operations	492		610		921	652	[2]
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	0		0		0	231	[2],[3]
Net income (loss)	492		610	[1]	921	883
COMPREHENSIVE INCOME	530		644		924	1,036
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	71,433				71,433			69,448
Less accumulated depreciation and amortization	(17,402)				(17,402)			(16,728)
Total property, plant and equipment - net	54,031				54,031			52,720
CURRENT ASSETS
Cash and cash equivalents	622		411		622	411
Receivables	2,292				2,292			2,289
Other	3,185				3,185			3,115
Total current assets	6,099				6,099			5,842
OTHER ASSETS
Investment in subsidiaries	0				0			0
Other	11,460				11,460			10,744
Total other assets	11,460				11,460			10,744
TOTAL ASSETS	71,590				71,590			69,306
CAPITALIZATION
Common shareholders' equity	18,429				18,429			18,040
Long-term debt	25,049				25,049			23,969
Total capitalization	43,478				43,478			42,009
CURRENT LIABILITIES
Debt due within one year	4,901				4,901			4,457
Accounts payable	1,475				1,475			1,200
Other	3,314				3,314			3,532
Total current liabilities	9,690				9,690			9,189
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,905				1,905			1,850
Deferred income taxes	8,227				8,227			8,144
Other	8,290				8,290			8,114
Total other liabilities and deferred credits	18,422				18,422			18,108
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	71,590				71,590			69,306
Condensed Consolidating Statements of Cash Flows
NET CASH PROVIDED BY OPERATING ACTIVITIES					2,448	2,250
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases					(3,239)	(3,154)
Capital contribution to FPL					0	0
Cash grants under the Recovery Act					306	170
Sale of independent power investments					273	0
Change in loan proceeds restricted for construction					(366)	207
Other - net					(79)	(8)
Net cash used in investing activities					(3,105)	(2,785)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt					2,729	2,862
Retirements of long-term debt					(2,275)	(1,425)
Proceeds from sale of differential membership interests					39	201
Net change in short-term debt					925	(370)
Issuances of common stock					42	9
Dividends on common stock					(630)	(557)
Other Financing Activities, Not Otherwise Separately Disclosed					53	(94)
Proceeds from (Payments for) Other Financing Activities					53	(66)
Net cash provided by (used in) financing activities					841	617
Net increase (decrease) in cash and cash equivalents					184	82
Cash and cash equivalents at beginning of period					438	329
Cash and cash equivalents at end of period	622		411		622	411
NextEra Energy (Guarantor) [Member]
Condensed Consolidating Statements of Income
Operating revenues	0		0		0	0
Operating expenses	(4)		(4)		(8)	(7)
Interest expense	(2)		(2)		(3)	(5)
Equity in earnings of subsidiaries	507		623		942	872
Other income (deductions) - net	1		(1)	[1]	0	1
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	502		616	[1]	931	861
Income tax expense (benefit)	10		6	[1]	10	(7)
Income (loss) from continuing operations					921	868
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES					0	15
Net income (loss)	492		610	[1]	921	883
COMPREHENSIVE INCOME	530		644		924	1,036
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	32				32			31
Less accumulated depreciation and amortization	(12)				(12)			(10)
Total property, plant and equipment - net	20				20			21
CURRENT ASSETS
Cash and cash equivalents	19		0		19	0
Receivables	233				233			78
Other	60				60			6
Total current assets	312				312			84
OTHER ASSETS
Investment in subsidiaries	18,253				18,253			17,910
Other	750				750			694
Total other assets	19,003				19,003			18,604
TOTAL ASSETS	19,335				19,335			18,709
CAPITALIZATION
Common shareholders' equity	18,429				18,429			18,040
Long-term debt	0				0			0
Total capitalization	18,429				18,429			18,040
CURRENT LIABILITIES
Debt due within one year	0				0			0
Accounts payable	1				1			0
Other	417				417			199
Total current liabilities	418				418			199
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	0				0			0
Deferred income taxes	234				234			166
Other	254				254			304
Total other liabilities and deferred credits	488				488			470
TOTAL CAPITALIZATION AND LIABILITIES	19,335				19,335			18,709
Condensed Consolidating Statements of Cash Flows
NET CASH PROVIDED BY OPERATING ACTIVITIES					754	598
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases					0	0
Capital contribution to FPL					(100)	0
Cash grants under the Recovery Act					0	0
Sale of independent power investments					0	0
Change in loan proceeds restricted for construction					0	0
Other - net					7	0
Net cash used in investing activities					(93)	0
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt					0	0
Retirements of long-term debt					0	0
Proceeds from sale of differential membership interests					0	0
Net change in short-term debt					0	0
Dividends on common stock					(630)	(557)
Proceeds from (Payments for) Other Financing Activities					(12)	(43)
Net cash provided by (used in) financing activities					(642)	(600)
Net increase (decrease) in cash and cash equivalents					19	(2)
Cash and cash equivalents at beginning of period					0	2
Cash and cash equivalents at end of period	19		0		19	0
Capital Holdings Consolidated [Member]
Condensed Consolidating Statements of Income
Operating revenues	1,143		1,140		2,286	2,234
Operating expenses	(969)		(878)		(2,001)	(2,078)
Interest expense	(194)		(161)		(410)	(331)
Equity in earnings of subsidiaries	0		0		0	0
Other income (deductions) - net	130		94	[1]	278	100
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	110		195	[1]	153	(75)
Income tax expense (benefit)	26		(36)	[1]	(19)	(52)
Income (loss) from continuing operations					172	(23)
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES					0	216
Net income (loss)	84		231	[1]	172	193
COMPREHENSIVE INCOME	122		265		170	339
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	30,299				30,299			29,511
Less accumulated depreciation and amortization	(6,164)				(6,164)			(5,774)
Total property, plant and equipment - net	24,135				24,135			23,737
CURRENT ASSETS
Cash and cash equivalents	545		381		545	381
Receivables	1,623				1,623			1,542
Other	1,854				1,854			1,814
Total current assets	4,022				4,022			3,774
OTHER ASSETS
Investment in subsidiaries	0				0			0
Other	5,509				5,509			5,129
Total other assets	5,509				5,509			5,129
TOTAL ASSETS	33,666				33,666			32,640
CAPITALIZATION
Common shareholders' equity	4,800				4,800			4,816
Long-term debt	16,107				16,107			15,496
Total capitalization	20,907				20,907			20,312
CURRENT LIABILITIES
Debt due within one year	4,392				4,392			3,896
Accounts payable	731				731			589
Other	1,937				1,937			2,203
Total current liabilities	7,060				7,060			6,688
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	586				586			565
Deferred income taxes	1,822				1,822			1,963
Other	3,291				3,291			3,112
Total other liabilities and deferred credits	5,699				5,699			5,640
TOTAL CAPITALIZATION AND LIABILITIES	33,666				33,666			32,640
Condensed Consolidating Statements of Cash Flows
NET CASH PROVIDED BY OPERATING ACTIVITIES					659	657
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases					(1,562)	(1,647)
Capital contribution to FPL					0	0
Cash grants under the Recovery Act					306	170
Sale of independent power investments					273	0
Change in loan proceeds restricted for construction					(366)	207
Other - net					(49)	26
Net cash used in investing activities					(1,398)	(1,244)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt					2,229	2,364
Retirements of long-term debt					(1,946)	(998)
Proceeds from sale of differential membership interests					39	201
Net change in short-term debt					678	(611)
Dividends on common stock					0	0
Proceeds from (Payments for) Other Financing Activities					(134)	(275)
Net cash provided by (used in) financing activities					866	681
Net increase (decrease) in cash and cash equivalents					127	94
Cash and cash equivalents at beginning of period					418	287
Cash and cash equivalents at end of period	545		381		545	381
Other Consolidated Entity And Consolidation Eliminations [Member]
Condensed Consolidating Statements of Income
Operating revenues	2,886	[4]	2,693	[4]	5,417	4,878
Operating expenses	(2,105)	[4]	(1,970)	[4]	(4,004)	(3,612)
Interest expense	(109)	[4]	(103)	[4]	(211)	(201)
Equity in earnings of subsidiaries	(507)	[4]	(623)	[4]	(942)	(872)
Other income (deductions) - net	7	[4]	13	[1],[4]	21	28
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	172	[4]	10	[1],[4]	281	221
Income tax expense (benefit)	256	[4]	241	[1],[4]	453	414
Income (loss) from continuing operations					(172)	(193)
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES					0	0
Net income (loss)	(84)	[4]	(231)	[1],[4]	(172)	(193)
COMPREHENSIVE INCOME	(122)		(265)		(170)	(339)
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	41,102				41,102			39,906
Less accumulated depreciation and amortization	(11,226)				(11,226)			(10,944)
Total property, plant and equipment - net	29,876				29,876			28,962
CURRENT ASSETS
Cash and cash equivalents	58		30		58	30
Receivables	436				436			669
Other	1,271				1,271			1,295
Total current assets	1,765				1,765			1,984
OTHER ASSETS
Investment in subsidiaries	(18,253)				(18,253)			(17,910)
Other	5,201				5,201			4,921
Total other assets	(13,052)				(13,052)			(12,989)
TOTAL ASSETS	18,589				18,589			17,957
CAPITALIZATION
Common shareholders' equity	(4,800)				(4,800)			(4,816)
Long-term debt	8,942				8,942			8,473
Total capitalization	4,142				4,142			3,657
CURRENT LIABILITIES
Debt due within one year	509				509			561
Accounts payable	743				743			611
Other	960				960			1,130
Total current liabilities	2,212				2,212			2,302
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,319				1,319			1,285
Deferred income taxes	6,171				6,171			6,015
Other	4,745				4,745			4,698
Total other liabilities and deferred credits	12,235				12,235			11,998
TOTAL CAPITALIZATION AND LIABILITIES	18,589				18,589			17,957
Condensed Consolidating Statements of Cash Flows
NET CASH PROVIDED BY OPERATING ACTIVITIES					1,035	995
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases					(1,677)	(1,507)
Capital contribution to FPL					100	0
Cash grants under the Recovery Act					0	0
Sale of independent power investments					0	0
Change in loan proceeds restricted for construction					0	0
Other - net					(37)	(34)
Net cash used in investing activities					(1,614)	(1,541)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt					500	498
Retirements of long-term debt					(329)	(427)
Proceeds from sale of differential membership interests					0	0
Net change in short-term debt					247	241
Dividends on common stock					0	0
Proceeds from (Payments for) Other Financing Activities					199	224
Net cash provided by (used in) financing activities					617	536
Net increase (decrease) in cash and cash equivalents					38	(10)
Cash and cash equivalents at beginning of period					20	40
Cash and cash equivalents at end of period	$ 58		$ 30		$ 58	$ 30

[1] Represents FPL and consolidating adjustments.

[2] Prior year amounts were restated to conform to current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements

[3] See Note 6.

[4] Certain amounts were restated to conform to current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements.

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Common Shareholders' Equity (Earnings Per Share) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Reconciliation of basic and diluted earnings per share of common stock [Abstract]
Income (loss) from continuing operations	$ 492		$ 610		$ 921		$ 652	[1]
Denominator:
Weighted-average number of common shares outstanding - basic (in shares)	434.1		421.8		433.8		421.4
Performance share awards, options, equity units and restricted stock (in shares)	6.0	[2]	3.0	[2]	5.5	[2]	2.9	[2]
Weighted-average number of common shares outstanding - assuming dilution (in shares)	440.1		424.8		439.3		424.3
Earnings per share of common stock from continuing operations:
Basic	$ 1.13		$ 1.45		$ 2.12		$ 1.54
Assuming dilution	$ 1.12		$ 1.44		$ 2.10		$ 1.54
Antidilutive securities (in shares)	0.2		0.3		0.2		0.3

[1] Prior year amounts were restated to conform to current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements

[2] Calculated using the treasury stock method. Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.

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Derivative Instruments (Balance Sheet Disclosure) (Details) (USD $) In Millions, unless otherwise specified	Jun. 30, 2014		Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Derivative Asset	$ 1,471		$ 1,661
Derivative Liability	1,247		1,311
Current derivative assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Collateral, Obligation to Return Cash, Offset	81		181
Derivative Asset	577	[1]	498	[2]
Current derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	1
Derivative Liability	686	[3]	838
Non Current Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Collateral, Obligation to Return Cash, Offset	68		98
Derivative Asset	894	[4]	1,163	[5]
Noncurrent derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	14
Derivative Liability	561	[6]	473
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	1,400		1,571
Derivative Liability	974		940
Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	68		90
Derivative Liability	238		220
Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	3		0
Derivative Liability	35		151
FPL [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	84		48
Derivative Liability	12		2
FPL [Member] | Current derivative assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	81		48
FPL [Member] | Current derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability	1		1
FPL [Member] | Non Current Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	3
FPL [Member] | Noncurrent derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability	11		1
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	5,482		4,544
Derivative Liability, Fair Value, Gross Liability	5,041		3,827
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	43		89
Derivative Liability, Fair Value, Gross Liability	126		177
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0		0
Derivative Liability, Fair Value, Gross Liability	0		101
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0		0
Derivative Liability, Fair Value, Gross Liability	32		50
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0		1
Derivative Liability, Fair Value, Gross Liability	119		93
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	43		89
Derivative Liability, Fair Value, Gross Liability	94		127
Commodity Contract [Member] | FPL [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	84		48
Derivative Liability	12		2
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	5,482		4,543
Derivative Liability, Fair Value, Gross Liability	4,922		3,633
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | FPL [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	84		55
Derivative Liability, Fair Value, Gross Liability	12		9
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0		0
Derivative Liability, Fair Value, Gross Liability	0		0
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | FPL [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0		0
Derivative Liability, Fair Value, Gross Liability	$ 0		$ 0

[1] Reflects the netting of approximately $81 million in margin cash collateral received from counterparties.

[2] Reflects the netting of approximately $181 million in margin cash collateral received from counterpar

[3] Reflects the netting of approximately $1 million in margin cash collateral provided to counterparties.

[4] Reflects the netting of approximately $68 million in margin cash collateral received from counterparties.

[5] Reflects the netting of approximately $98 million in margin cash collateral received from counterpar

[6] Reflects the netting of approximately $14 million in margin cash collateral provided to counterparties.

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Common Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Reconciliation of basic and diluted earnings per share of common stock

Earnings Per Share - The reconciliation of NEE's basic and diluted earnings per share of common stock from continuing operations is as follows:

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013
	(millions, except per share amounts)
Numerator - income from continuing operations	$	492	$	610	$	921	$	652
Denominator:
Weighted-average number of common shares outstanding - basic	434.1		421.8		433.8		421.4
Equity units, performance share awards, options, forward sale agreement and restricted stock(a)	6.0		3.0		5.5		2.9
Weighted-average number of common shares outstanding - assuming dilution	440.1		424.8		439.3		424.3
Earnings per share of common stock from continuing operations:
Basic	$	1.13	$	1.45	$	2.12	$	1.54
Assuming dilution	$	1.12	$	1.44	$	2.10	$	1.54

————————————

(a) Calculated using the treasury stock method.  Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss) - The components of AOCI, net of tax, are as follows:

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Three Months Ended June 30, 2014
Balances, March 31, 2014	$	(124	)		$	185			$	28	$	(50	)	$	(18	)	$	21
Other comprehensive income (loss) before reclassifications	(7		)		40				—		17			(3		)	47
Amounts reclassified from AOCI	(4		)	(a)	(5		)	(b)	—		—			—			(9		)
Net other comprehensive income (loss)	(11		)		35				—		17			(3		)	38
Balances, June 30, 2014	$	(135	)		$	220			$	28	$	(33	)	$	(21	)	$	59

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Three Months Ended June 30, 2013
Balances, March 31, 2013	$	(180	)		$	130			$	(67	)	$	3		$	(22	)	$	(136	)
Other comprehensive income (loss) before reclassifications	36				2				—			(23		)	5			20
Amounts reclassified from AOCI	18			(a)	(4		)	(b)	—			—			—			14
Net other comprehensive income (loss)	54				(2		)		—			(23		)	5			34
Balances, June 30, 2013	$	(126	)		$	128			$	(67	)	$	(20	)	$	(17	)	$	(102	)

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Six Months Ended June 30, 2014
Balances, December 31, 2013	$	(115	)		$	197			$	23	$	(33	)	$	(16	)	$	56
Other comprehensive income (loss) before reclassifications	(25		)		53				4		—			(5		)	27
Amounts reclassified from AOCI	5			(a)	(30		)	(b)	1		—			—			(24		)
Net other comprehensive income (loss)	(20		)		23				5		—			(5		)	3
Balances, June 30, 2014	$	(135	)		$	220			$	28	$	(33	)	$	(21	)	$	59

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Six Months Ended June 30, 2013
Balances, December 31, 2012	$	(266	)		$	96			$	(74	)	$	12		$	(23	)	$	(255	)
Other comprehensive income (loss) before reclassifications	101				42				6			(32		)	6			123
Amounts reclassified from AOCI	39			(a)	(10		)	(b)	1			—			—			30
Net other comprehensive income (loss)	140				32				7			(32		)	6			153
Balances, June 30, 2013	$	(126	)		$	128			$	(67	)	$	(20	)	$	(17	)	$	(102	)

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

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Commitments and Contingencies (Planned Capital Expenditures) (Details) (USD $)			3 Months Ended												6 Months Ended												3 Months Ended		3 Months Ended
	Jun. 30, 2014 Corporate and Other [Member]		Jun. 30, 2014 Corporate and Other [Member] Natural Gas Expenditures [Member]	Jun. 30, 2014 FPL [Member]		Jun. 30, 2014 FPL [Member] New Generation Expenditures [Member]		Jun. 30, 2014 FPL [Member] Existing Generation Expenditures [Member]		Jun. 30, 2014 FPL [Member] Transmission And Distribution Expenditures [Member]	Jun. 30, 2014 FPL [Member] Nuclear Fuel Expenditures [Member]	Jun. 30, 2014 FPL [Member] General And Other Expenditures [Member]	Jun. 30, 2014 FPL [Member] Generation Expenditures [Member]	Jun. 30, 2014 NextEra Energy Resources [Member]	Jun. 30, 2014 NextEra Energy Resources [Member] Wind Expenditures [Member] MW		Jun. 30, 2014 NextEra Energy Resources [Member] Wind Expenditures [Member] CANADA MW	Jun. 30, 2014 NextEra Energy Resources [Member] Wind Expenditures [Member] Minimum [Member] MW	Jun. 30, 2014 NextEra Energy Resources [Member] Wind Expenditures [Member] Maximum [Member] MW	Jun. 30, 2014 NextEra Energy Resources [Member] Solar Expenditures [Member] MW		Jun. 30, 2014 NextEra Energy Resources [Member] Solar Expenditures [Member] Requiring Internal Approvals [Member] MW	Jun. 30, 2014 NextEra Energy Resources [Member] Nuclear Expenditures [Member]		Jun. 30, 2014 NextEra Energy Resources [Member] Other Expenditures [Member]		Jun. 30, 2014 Sabal Trail Transmission, LLC [Member] Corporate and Other [Member] Natural Gas Expenditures [Member]	Jun. 30, 2014 Sabal Trail Transmission, LLC [Member] Corporate and Other [Member]	Jun. 30, 2014 Florida Southeast Connection, LLC [Member] Corporate and Other [Member] Natural Gas Expenditures [Member]
Planned Capital Expenditures [Line Items]
Remainder Current Year	$ 150,000,000	[1]		$ 1,680,000,000	[2]	$ 330,000,000	[3],[4],[5]	$ 410,000,000	[3]	$ 750,000,000	$ 75,000,000	$ 115,000,000		$ 1,810,000,000	$ 1,005,000,000	[6]				$ 365,000,000	[7]		$ 190,000,000	[8]	$ 250,000,000	[9]
2015	470,000,000	[1]		2,510,000,000	[2]	275,000,000	[3],[4],[5]	670,000,000	[3]	1,205,000,000	205,000,000	155,000,000		1,950,000,000	705,000,000	[6]				850,000,000	[7]		285,000,000	[8]	110,000,000	[9]
2016	785,000,000	[1]		2,170,000,000	[2]	90,000,000	[3],[4],[5]	615,000,000	[3]	1,125,000,000	220,000,000	120,000,000		855,000,000	70,000,000	[6]				405,000,000	[7]		305,000,000	[8]	75,000,000	[9]
2017	200,000,000	[1]		1,890,000,000	[2]	0	[3],[4],[5]	580,000,000	[3]	955,000,000	190,000,000	165,000,000		295,000,000	5,000,000	[6]				0	[7]		245,000,000	[8]	45,000,000	[9]
2018	95,000,000	[1]		1,910,000,000	[2]	0	[3],[4],[5]	545,000,000	[3]	1,025,000,000	180,000,000	160,000,000		345,000,000	10,000,000	[6]				0	[7]		255,000,000	[8]	80,000,000	[9]
Total	1,700,000,000	[1]		10,160,000,000	[2]	695,000,000	[3],[4],[5]	2,820,000,000	[3]	5,060,000,000	870,000,000	715,000,000		5,255,000,000	1,795,000,000	[6]				1,620,000,000	[7]		1,280,000,000	[8]	560,000,000	[9]
Allowance for funds used during construction (AFUDC) - remainder of 2014			1,000,000										21,000,000
Allowance for funds used during construction (AFUDC) - 2015			7,000,000										53,000,000
Allowance for funds used during construction (AFUDC) - 2016			20,000,000										17,000,000
Allowance for funds used during construction (AFUDC) - 2017			11,000,000
Incremental Capital Expenditures Low Range				1,500,000,000
Incremental Capital Expenditures High Range				2,500,000,000
Potential Capital Expenditures For Natural Gas Pipeline			1,400,000,000
Equity method investment in natural gas pipeline, through 2018																											855,000,000
Planned capital expenditures for natural gas pipeline																													520,000,000
Planned New Wind Generation To Be Added over 5 Years (in megawatts)															1,910		465
Planned new wind generation added to date (in megawatts)															325
Expected New Wind Projects, Three-Year Period, Capacity																		2,000	2,500
Expected New Wind Projects, Three-Year Period, Expected Costs																		3,500,000,000	4,500,000,000
Planned new solar generation over 5 year period (in megawatts)																				587		47
Equity Method Investment, Ownership Percentage																				50.00%								33.00%
Planned New Solar Capacity of Equity Method Investment (in megawatts)																				550
Planned New Solar Generation Over Five Year Period, Expected Costs																						$ 120,000,000

[1] Includes capital expenditures totaling approximately $1.4 billion for the remainder of 2014 through 2018 for construction of a natural gas pipeline system that has received applicable internal approvals, including approximately $855 million of equity contributions associated with a 33% equity investment in the northern portion of the natural gas pipeline system and $520 million for the southern portion, which includes AFUDC of approximately $1 million, $7 million, $20 million and $11 million for the remainder of 2014 through 2017, respectively. Construction of the natural gas pipeline system is subject to certain conditions, including FERC approval. A FERC decision is expected in 2015. See Contracts below.

[2] FPL has identified $1.5 billion to $2.5 billion in potential incremental capital expenditures through 2016 in addition to what is included in the table above.

[3] Includes allowance for funds used during construction (AFUDC) of approximately $21 million, $53 million and $17 million for the remainder of 2014 through 2016, respectively.

[4] Includes land, generating structures, transmission interconnection and integration and licensing.

[5] Consists of projects that have received FPSC approval. Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.

[6] Consists of capital expenditures for new wind projects and related transmission totaling approximately 1,910 MW, including approximately 465 MW in Canada, that have received applicable internal approvals. NEER expects to add new U.S. wind generation of 2,000 MW to 2,500 MW in 2013 through 2015, including 325 MW added to date, at a total cost of up to $3.5 billion to $4.5 billion.

[7] Consists of capital expenditures for new solar projects and related transmission totaling approximately 587 MW that have received applicable internal approvals, including equity contributions associated with a 50% equity investment in a 550 MW solar project. Excludes solar projects requiring internal approvals with generation totaling 47 MW with an estimated cost of approximately $120 million.

[8] Includes nuclear fuel.

[9] Consists of capital expenditures that have received applicable internal approvals.

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Fair Value Measurements (Available for Sale Securities) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014 FPL [Member]	Jun. 30, 2013 FPL [Member]	Jun. 30, 2014 FPL [Member]	Jun. 30, 2013 FPL [Member]	Jun. 30, 2014 Available For Sale Securities: Special Use Funds - Equity Securities [Member]	Dec. 31, 2013 Available For Sale Securities: Special Use Funds - Equity Securities [Member]	Jun. 30, 2014 Available For Sale Securities: Special Use Funds - Equity Securities [Member] FPL [Member]	Dec. 31, 2013 Available For Sale Securities: Special Use Funds - Equity Securities [Member] FPL [Member]	Jun. 30, 2014 available for sale securities: Special Use Funds - Debt Securities [Member]		Dec. 31, 2013 available for sale securities: Special Use Funds - Debt Securities [Member]		Jun. 30, 2014 available for sale securities: Special Use Funds - Debt Securities [Member] FPL [Member]		Dec. 31, 2013 available for sale securities: Special Use Funds - Debt Securities [Member] FPL [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized Loss													$ 5	[1]	$ 32	[1]	$ 4	[1]	$ 25	[1]
Unrealized gains									1,200	1,125	838	777	64		42		53		36
Realized Gains	71	21	148	63	56	8	88	31
Realized Losses	83	13	105	43	76	8	93	30
Proceeds from Sale and Maturity of Available-for-sale Securities	813	858	2,214	1,782	637	669	1,799	1,354
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value													$ 305		$ 1,069		$ 231		$ 844

[1] Unrealized losses on available for sale debt securities for securities in an unrealized loss position for greater than twelve months at June 30, 2014 and December 31, 2013 were not material to NEE or FPL.

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Fair Value Measurements (Assets and Liabilities Measured on a Recurring Basis) (Details) (Fair value measurements made on a recurring basis [Member], USD $) In Millions, unless otherwise specified	Jun. 30, 2014		Dec. 31, 2013
Cash equivalents:
Equity securities	$ 114		$ 20
Special use funds:
Equity securities	2,538	[1]	2,506	[1]
U.S. Government and municipal bonds	786	[1]	827	[1]
Corporate debt securities	662	[1]	597	[1]
Mortgage-backed securities	485	[1]	479	[1]
Other debt securities	61	[1]	60	[1]
Other investments:
Equity Securities	44		51
Debt securities	189		118
Derivatives:
Commodity contracts	1,400	[2]	1,571	[2]
Interest rate contracts	68	[2]	90	[2]
Foreign Currency Contract, Asset, Fair Value Disclosure	3	[2]
Derivatives:
Commodity contracts	974	[2]	940	[2]
Interest rate swaps	238	[2]	220	[2]
Foreign currency swaps	35	[2]	151	[2]
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Cash equivalents:
Equity securities	114		20
Special use funds:
Equity securities	1,185	[1]	1,170	[1]
U.S. Government and municipal bonds	619	[1]	647	[1]
Corporate debt securities	0	[1]	0	[1]
Mortgage-backed securities	0	[1]	0	[1]
Other debt securities	25	[1]	16	[1]
Other investments:
Equity Securities	43		51
Debt securities	20		11
Derivatives:
Commodity contracts	2,217		1,368
Interest rate contracts	0		0
Foreign Currency Contract, Asset, Fair Value Disclosure	0
Derivatives:
Commodity contracts	2,174		1,285
Interest rate swaps	0		0
Foreign currency swaps	0		0
Significant Other Observable Inputs (Level 2) [Member]
Cash equivalents:
Equity securities	0		0
Special use funds:
Equity securities	1,353	[1],[3]	1,336	[1],[3]
U.S. Government and municipal bonds	167	[1]	180	[1]
Corporate debt securities	662	[1]	597	[1]
Mortgage-backed securities	485	[1]	479	[1]
Other debt securities	36	[1]	44	[1]
Other investments:
Equity Securities	1		0
Debt securities	169		107
Derivatives:
Commodity contracts	2,213		2,106
Interest rate contracts	43		90
Foreign Currency Contract, Asset, Fair Value Disclosure	0
Derivatives:
Commodity contracts	2,169		1,994
Interest rate swaps	94		127
Foreign currency swaps	32		151
Significant Unobservable Inputs (Level 3) [Member]
Cash equivalents:
Equity securities	0		0
Special use funds:
Equity securities	0	[1]	0	[1]
U.S. Government and municipal bonds	0	[1]	0	[1]
Corporate debt securities	0	[1]	0	[1]
Mortgage-backed securities	0	[1]	0	[1]
Other debt securities	0	[1]	0	[1]
Other investments:
Equity Securities	0		0
Debt securities	0		0
Derivatives:
Commodity contracts	1,052		1,069
Interest rate contracts	0		0
Foreign Currency Contract, Asset, Fair Value Disclosure	0
Derivatives:
Commodity contracts	579		354
Interest rate swaps	119		93
Foreign currency swaps	0		0
Netting [Member]
Derivatives:
Commodity contracts	(4,082)	[4]	(2,972)	[4]
Interest rate contracts	25	[4]	0	[4]
Foreign Currency Contract, Asset, Fair Value Disclosure	3	[4]
Derivatives:
Commodity contracts	(3,948)	[4]	(2,693)	[4]
Interest rate swaps	25	[4]	0	[4]
Foreign currency swaps	3	[4]	0	[4]
FPL [Member]
Special use funds:
Equity securities	1,461	[1]	1,467	[1]
U.S. Government and municipal bonds	662	[1]	738	[1]
Corporate debt securities	465	[1]	421	[1]
Mortgage-backed securities	420	[1]	401	[1]
Other debt securities	47	[1]	46	[1]
Derivatives:
Commodity contracts	84	[2]	48	[2]
Derivatives:
Commodity contracts	12	[2]	2	[2]
FPL [Member] | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Special use funds:
Equity securities	279	[1]	291	[1]
U.S. Government and municipal bonds	512	[1]	584	[1]
Corporate debt securities	0	[1]	0	[1]
Mortgage-backed securities	0	[1]	0	[1]
Other debt securities	25	[1]	16	[1]
Derivatives:
Commodity contracts	0		0
Derivatives:
Commodity contracts	0		0
FPL [Member] | Significant Other Observable Inputs (Level 2) [Member]
Special use funds:
Equity securities	1,182	[1],[3]	1,176	[1],[3]
U.S. Government and municipal bonds	150	[1]	154	[1]
Corporate debt securities	465	[1]	421	[1]
Mortgage-backed securities	420	[1]	401	[1]
Other debt securities	22	[1]	30	[1]
Derivatives:
Commodity contracts	80		53
Derivatives:
Commodity contracts	11		7
FPL [Member] | Significant Unobservable Inputs (Level 3) [Member]
Special use funds:
Equity securities	0	[1]	0	[1]
U.S. Government and municipal bonds	0	[1]	0	[1]
Corporate debt securities	0	[1]	0	[1]
Mortgage-backed securities	0	[1]	0	[1]
Other debt securities	0	[1]	0	[1]
Derivatives:
Commodity contracts	4		2
Derivatives:
Commodity contracts	1		2
FPL [Member] | Netting [Member]
Derivatives:
Commodity contracts	0	[4]	(7)	[4]
Derivatives:
Commodity contracts	$ 0	[4]	$ (7)	[4]

[1] Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at the Carrying Amount below.

[2] See Note 3 - Fair Value of Derivative Instruments for a reconciliation of net derivatives to NEE's and FPL's condensed consolidated balance sheets.

[3] Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.

[4] Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts. NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the condensed consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively.

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Commitments and Contingencies (Spain Solar Projects) (Details) In Millions, unless otherwise specified	Jun. 30, 2014 NextEra Energy Resources [Member] USD ($)	Jun. 30, 2014 Standby Letters of Credit [Member] Capital Holdings [Member] USD ($)	Jun. 30, 2014 Standby Letters of Credit [Member] Capital Holdings [Member] EUR (€)	Jun. 30, 2014 Performance Guarantee [Member] Capital Holdings [Member] USD ($)	Jun. 30, 2014 Performance Guarantee [Member] Capital Holdings [Member] EUR (€)
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount		$ 50	€ 37	$ 14	€ 10
Amount of debt outstanding under financing agreements related to Spain solar projects	751
Amount of noncurrent derivative liability classified as current derivative liability due to event of default	$ 119

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Common Shareholders' Equity (Accumulated Other Comprehensive Income) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Components Of Comprehensive Income And Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ 21		$ (136)		$ 56		$ (255)
Other comprehensive income (loss) before reclassifications	47		20		27		123
Amounts reclassified from AOCI	(9)		14		(24)		30
Net other comprehensive income (loss)	38		34		3		153
Ending balance	59		(102)		59		(102)
Net Unrealized Gains (Losses) on Available for Sale Securities
Components Of Comprehensive Income And Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	185		130		197		96
Other comprehensive income (loss) before reclassifications	40		2		53		42
Amounts reclassified from AOCI	(5)	[1]	(4)	[1]	(30)	[1]	(10)	[1]
Net other comprehensive income (loss)	35		(2)		23		32
Ending balance	220		128		220		128
Net Unrealized Gains (Losses) on Cash Flow Hedges
Components Of Comprehensive Income And Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(124)		(180)		(115)		(266)
Other comprehensive income (loss) before reclassifications	(7)		36		(25)		101
Amounts reclassified from AOCI	(4)	[2]	18	[2]	5	[2]	39	[2]
Net other comprehensive income (loss)	(11)		54		(20)		140
Ending balance	(135)		(126)		(135)		(126)
Defined Benefit Pension and Other Benefits Plans
Components Of Comprehensive Income And Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	28		(67)		23		(74)
Other comprehensive income (loss) before reclassifications	0		0		4		6
Amounts reclassified from AOCI	0		0		1		1
Net other comprehensive income (loss)	0		0		5		7
Ending balance	28		(67)		28		(67)
Net Unrealized Gains (Losses) on Foreign Currency Translation
Components Of Comprehensive Income And Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(50)		3		(33)		12
Other comprehensive income (loss) before reclassifications	17		(23)		0		(32)
Amounts reclassified from AOCI	0		0		0		0
Net other comprehensive income (loss)	17		(23)		0		(32)
Ending balance	(33)		(20)		(33)		(20)
Other Comprehensive Income (Loss) Related to Equity Method Investee
Components Of Comprehensive Income And Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(18)		(22)		(16)		(23)
Other comprehensive income (loss) before reclassifications	(3)		5		(5)		6
Amounts reclassified from AOCI	0		0		0		0
Net other comprehensive income (loss)	(3)		5		(5)		6
Ending balance	$ (21)		$ (17)		$ (21)		$ (17)

[1] Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

[2] Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income. See Note 3 - Income Statement Impact of Derivative Instruments.

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Summary of Significant Accounting and Reporting Policies

6 Months Ended

Jun. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Significant Accounting and Reporting Policies

Summary of Significant Accounting and Reporting Policies

Revenue Recognition - In May 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard which provides guidance on the recognition of revenue from contracts with customers and requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows from an entity's contracts with customers.  The standard is effective for NEE and FPL beginning January 1, 2017.  NEE and FPL are currently evaluating the effect the adoption of this standard will have, if any, on their consolidated financial statements.

Basis of Presentation - NEE formed NextEra Energy Partners, LP (NEP) to own, operate and acquire contracted clean energy projects with stable, long-term cash flows through a limited partner interest in NextEra Energy Operating Partners, LP (NEP OpCo).  On July 1, 2014, NEP closed its initial public offering by issuing 18,687,500 common units representing limited partnership interests.  The proceeds from the sale of the common units, net of underwriting discounts, commissions and structuring fees, were approximately $438 million.  NEP used such proceeds to purchase 18,687,500 common units of NEP OpCo, of which approximately $288 million was used to purchase common units from an indirect wholly-owned subsidiary of NEE and $150 million was used to purchase common units from NEP OpCo which will use the net proceeds for its general corporate purposes, including to fund future acquisition opportunities.  NEE retained 74,440,000 units of NEP OpCo representing a 79.9% interest in the operating projects owned by NEP.  Additionally, NEE owns a controlling general partner interest in NEP and, beginning July 1, 2014, will consolidate this entity for financial reporting purposes and will present NEP's limited partner interest as a non-controlling interest in NEE's financial statements.  Upon completion of the initial public offering, NEP, through NEER's contribution of energy projects to NEP OpCo, owned a portfolio of ten wind and solar projects with generation capacity totaling approximately 990 MW.

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Income Taxes (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	37.00%	26.00%	33.00%	35.00%
Production tax credits	$ 49	$ 66	$ 98	$ 125
Deferred income tax benefit associated with convertible investment tax credits	10	21	22	33
Income Tax Charge Associated with Canadian Assets in NEP Portfolio	45			45
Valuation Allowances and Reserves, Charged to Cost and Expense				132
Impairment of Long-Lived Assets Held-for-use	0	0	0	300
Impairment Of Long Lived Assets Held For Use After Tax				$ 342

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Summarized Financial Information of Capital Holdings (Tables)

6 Months Ended

Jun. 30, 2014

Summarized Financial Information [Abstract]

Condensed Consolidating Statements

Condensed consolidating financial information is as follows:

Condensed Consolidating Statements of Income

	Three Months Ended June 30,
	2014												2013
	NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
Operating revenues	$	—		$	1,143		$	2,886		$	4,029		$	—		$	1,140		$	2,693		$	3,833
Operating expenses	(4		)	(969		)	(2,105		)	(3,078		)	(4		)	(878		)	(1,970		)	(2,852		)
Interest expense	(2		)	(194		)	(109		)	(305		)	(2		)	(161		)	(103		)	(266		)
Equity in earnings of subsidiaries	507			—			(507		)	—			623			—			(623		)	—
Other income (deductions) - net	1			130			7			138			(1		)	94			13			106
Income before income taxes	502			110			172			784			616			195			10			821
Income tax expense (benefit)	10			26			256			292			6			(36		)	241			211
Net income (loss)	$	492		$	84		$	(84	)	$	492		$	610		$	231		$	(231	)	$	610

	Six Months Ended June 30,
	2014												2013(b)
	NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
Operating revenues	$	—		$	2,286		$	5,417		$	7,703		$	—		$	2,234		$	4,878		$	7,112
Operating expenses	(8		)	(2,001		)	(4,004		)	(6,013		)	(7		)	(2,078		)	(3,612		)	(5,697		)
Interest expense	(3		)	(410		)	(211		)	(624		)	(5		)	(331		)	(201		)	(537		)
Equity in earnings of subsidiaries	942			—			(942		)	—			872			—			(872		)	—
Other income (deductions) - net	—			278			21			299			1			100			28			129
Income (loss) from continuing operations before income taxes	931			153			281			1,365			861			(75		)	221			1,007
Income tax expense (benefit)	10			(19		)	453			444			(7		)	(52		)	414			355
Income (loss) from continuing operations	921			172			(172		)	921			868			(23		)	(193		)	652
Gain from discontinued operations, net of income taxes	—			—			—			—			15			216			—			231
Net income (loss)	$	921		$	172		$	(172	)	$	921		$	883		$	193		$	(193	)	$	883

————————————

(a)  Represents FPL and consolidating adjustments.

(b)  Certain amounts were restated to conform to current year's presentation.  See Note 4 - Nonrecurring Fair Value Measurements.

Condensed Consolidating Statements of Comprehensive Income

	Three Months Ended June 30,
	2014									2013
	NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss)	$	530	$	122	$	(122	)	$	530	$	644	$	265	$	(265	)	$	644

	Six Months Ended June 30,
	2014									2013
	NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss)	$	924	$	170	$	(170	)	$	924	$	1,036	$	339	$	(339	)	$	1,036

————————————

(a) Represents FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets

	June 30, 2014												December 31, 2013
	NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	$	32		$	30,299		$	41,102		$	71,433		$	31		$	29,511		$	39,906		$	69,448
Less accumulated depreciation and amortization	(12		)	(6,164		)	(11,226		)	(17,402		)	(10		)	(5,774		)	(10,944		)	(16,728		)
Total property, plant and equipment - net	20			24,135			29,876			54,031			21			23,737			28,962			52,720
CURRENT ASSETS
Cash and cash equivalents	19			545			58			622			—			418			20			438
Receivables	233			1,623			436			2,292			78			1,542			669			2,289
Other	60			1,854			1,271			3,185			6			1,814			1,295			3,115
Total current assets	312			4,022			1,765			6,099			84			3,774			1,984			5,842
OTHER ASSETS
Investment in subsidiaries	18,253			—			(18,253		)	—			17,910			—			(17,910		)	—
Other	750			5,509			5,201			11,460			694			5,129			4,921			10,744
Total other assets	19,003			5,509			(13,052		)	11,460			18,604			5,129			(12,989		)	10,744
TOTAL ASSETS	$	19,335		$	33,666		$	18,589		$	71,590		$	18,709		$	32,640		$	17,957		$	69,306
CAPITALIZATION
Common shareholders' equity	$	18,429		$	4,800		$	(4,800	)	$	18,429		$	18,040		$	4,816		$	(4,816	)	$	18,040
Long-term debt	—			16,107			8,942			25,049			—			15,496			8,473			23,969
Total capitalization	18,429			20,907			4,142			43,478			18,040			20,312			3,657			42,009
CURRENT LIABILITIES
Debt due within one year	—			4,392			509			4,901			—			3,896			561			4,457
Accounts payable	1			731			743			1,475			—			589			611			1,200
Other	417			1,937			960			3,314			199			2,203			1,130			3,532
Total current liabilities	418			7,060			2,212			9,690			199			6,688			2,302			9,189
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	—			586			1,319			1,905			—			565			1,285			1,850
Deferred income taxes	234			1,822			6,171			8,227			166			1,963			6,015			8,144
Other	254			3,291			4,745			8,290			304			3,112			4,698			8,114
Total other liabilities and deferred credits	488			5,699			12,235			18,422			470			5,640			11,998			18,108
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	19,335		$	33,666		$	18,589		$	71,590		$	18,709		$	32,640		$	17,957		$	69,306

————————————

(a) Represents FPL and consolidating adjustments.

Condensed Consolidating Statements of Cash Flows

	Six Months Ended June 30,
	2014												2013
	NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
NET CASH PROVIDED BY OPERATING ACTIVITIES	$	754		$	659		$	1,035		$	2,448		$	598		$	657		$	995		$	2,250
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases	—			(1,562		)	(1,677		)	(3,239		)	—			(1,647		)	(1,507		)	(3,154		)
Capital contribution to FPL	(100		)	—			100			—			—			—			—			—
Cash grants under the Recovery Act	—			306			—			306			—			170			—			170
Sale of independent power investments	—			273			—			273			—			—			—			—
Change in loan proceeds restricted for construction	—			(366		)	—			(366		)	—			207			—			207
Other - net	7			(49		)	(37		)	(79		)	—			26			(34		)	(8		)
Net cash used in investing activities	(93		)	(1,398		)	(1,614		)	(3,105		)	—			(1,244		)	(1,541		)	(2,785		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	—			2,229			500			2,729			—			2,364			498			2,862
Retirements of long-term debt	—			(1,946		)	(329		)	(2,275		)	—			(998		)	(427		)	(1,425		)
Proceeds from sale of differential membership interests	—			39			—			39			—			201			—			201
Net change in short-term debt	—			678			247			925			—			(611		)	241			(370		)
Dividends on common stock	(630		)	—			—			(630		)	(557		)	—			—			(557		)
Other - net	(12		)	(134		)	199			53			(43		)	(275		)	224			(94		)
Net cash provided by (used in) financing activities	(642		)	866			617			841			(600		)	681			536			617
Net increase (decrease) in cash and cash equivalents	19			127			38			184			(2		)	94			(10		)	82
Cash and cash equivalents at beginning of period	—			418			20			438			2			287			40			329
Cash and cash equivalents at end of period	$	19		$	545		$	58		$	622		$	—		$	381		$	30		$	411

————————————

(a) Represents FPL and consolidating adjustments.

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Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment information

	Three Months Ended June 30,
	2014										2013
	FPL		NEER(a)			Corporate and Other			NEE Consoli- dated		FPL		NEER(a)			Corporate and Other			NEE Consoli- dated
									(millions)
Operating revenues	$	2,889	$	1,036		$	104		$	4,029	$	2,696	$	1,046		$	91		$	3,833
Operating expenses	$	2,107	$	896		$	75		$	3,078	$	1,972	$	806		$	74		$	2,852
Net income (loss)	$	423	$	81	(b)	$	(12	)	$	492	$	391	$	229	(b)	$	(10	)	$	610

	Six Months Ended June 30,
	2014										2013
	FPL		NEER(a)			Corporate and Other			NEE Consoli- dated		FPL		NEER(a)				Corporate and Other		NEE Consoli- dated
									(millions)
Operating revenues	$	5,424	$	2,069		$	210		$	7,703	$	4,885	$	2,062			$	165	$	7,112
Operating expenses	$	4,010	$	1,846		$	157		$	6,013	$	3,618	$	1,955		(c)	$	124	$	5,697
Income (loss) from continuing operations(d)	$	770	$	167	(b)	$	(16	)	$	921	$	679	$	(27	)	(b)	$	—	$	652
Gain from discontinued operations, net of income taxes(d)(e)	$	—	$	—		$	—		$	—	$	—	$	216			$	15	$	231
Net income (loss)	$	770	$	167	(b)	$	(16	)	$	921	$	679	$	189		(b)	$	15	$	883

————————————

(a) Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt.  For this purpose, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual non-utility interest expense is included in Corporate and Other.

(b) Includes NEER's tax benefits related to PTCs and for the six months ended June 30, 2013 also includes after-tax charges of $342 million associated with the impairment of the Spain solar projects.  See Note 4 - Nonrecurring Fair Value Measurements and Note 5.

(c) Includes an impairment charge on NEER's Spain solar projects of $300 million.  See Note 4 - Nonrecurring Fair Value Measurements.

(d) Prior year amounts were restated to conform to current year's presentation.  See Note 4 - Nonrecurring Fair Value Measurements.

(e) See Note 6.

	June 30, 2014								December 31, 2013
	FPL		NEER		Corporate and Other		NEE Consoli- dated		FPL		NEER		Corporate and Other		NEE Consoli- dated
							(millions)
Total assets	$	37,882	$	30,952	$	2,756	$	71,590	$	36,488	$	30,154	$	2,664	$	69,306

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Discontinued Operations (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of hydropower generation plants through assumption of debt by buyer	$ 0	$ 700
Maine Hydro [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capacity associated with discontinued operations (in megawatts)		351
Sale of hydropower generation plants through assumption of debt by buyer		700
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax		372
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax		$ 231

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Summary of Significant Accounting and Reporting Policies (Details) (Subsequent Event [Member], USD $) In Millions, except Share data, unless otherwise specified	0 Months Ended
	Jul. 01, 2014	Jul. 01, 2014
NEP OpCo [Member]
Schedule of Limited Partnership Activity [Line Items]
Partners' Capital Account, Units, Retained	74,440,000
Ownership interest in Limited Partnership		79.90%
NextEra Energy Partners, LP [Member]
Schedule of Limited Partnership Activity [Line Items]
Common units issued	18,687,500
Proceeds from issuance of common units, net of underwriting discounts, commissions and structuring fees	$ 438
Portfolio, generation capacity		990
NextEra Energy Partners, LP [Member] | Indirect Wholly-Owned Subsidiary [Member]
Schedule of Limited Partnership Activity [Line Items]
Payments to acquire limited partner interests	288
NextEra Energy Partners, LP [Member] | NEP OpCo [Member]
Schedule of Limited Partnership Activity [Line Items]
Payments to acquire limited partner interests	$ 150

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Employee Retirement Benefits (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pension Benefits [Member]
Net periodic benefit (income) cost [Abstract]
Service cost	$ 16	$ 18	$ 32	$ 36
Interest cost	26	24	51	48
Expected return on plan assets	(60)	(59)	(120)	(119)
Amortization of prior service cost (benefit)	0	2	1	4
Amortization of losses	0	0	0	1
Special termination benefits	0	(12)	0	(12)
Net periodic benefit (income) cost	(18)	(3)	(36)	(18)
Other Benefits [Member]
Net periodic benefit (income) cost [Abstract]
Service cost	1	1	2	2
Interest cost	4	4	8	8
Expected return on plan assets	(1)	0	(1)	0
Amortization of prior service cost (benefit)	0	(1)	(1)	(2)
Amortization of losses	0	0	0	1
Special termination benefits	0	0	0	0
Net periodic benefit (income) cost	4	4	8	9
FPL [Member] | Pension Benefits [Member]
Net periodic benefit (income) cost [Abstract]
Net periodic benefit (income) cost	(12)	(2)	(23)	(12)
FPL [Member] | Other Benefits [Member]
Net periodic benefit (income) cost [Abstract]
Net periodic benefit (income) cost	$ 3	$ 3	$ 6	$ 6

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Employee Retirement Benefits

6 Months Ended

Jun. 30, 2014

Compensation and Retirement Disclosure [Abstract]

Employee Retirement Benefits

Employee Retirement Benefits

NEE sponsors a qualified noncontributory defined benefit pension plan for substantially all employees of NEE and its subsidiaries and has a supplemental executive retirement plan, which includes a non-qualified supplemental defined benefit pension component that provides benefits to a select group of management and highly compensated employees (collectively, pension benefits).  In addition to pension benefits, NEE sponsors a contributory postretirement plan for health care and life insurance benefits (other benefits) for retirees of NEE and its subsidiaries meeting certain eligibility requirements.

The components of net periodic benefit (income) cost for the plans are as follows:

	Pension Benefits						Other Benefits						Pension Benefits						Other Benefits
	Three Months Ended   June 30,						Three Months Ended   June 30,						Six Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013			2014			2013			2014			2013
	(millions)
Service cost	$	16		$	18		$	1		$	1		$	32		$	36		$	2		$	2
Interest cost	26			24			4			4			51			48			8			8
Expected return on plan assets	(60		)	(59		)	(1		)	—			(120		)	(119		)	(1		)	—
Amortization of prior service cost (benefit)	—			2			—			(1		)	1			4			(1		)	(2		)
Amortization of losses	—			—			—			—			—			1			—			1
Special termination benefits	—			12			—			—			—			12			—			—
Net periodic benefit (income) cost at NEE	$	(18	)	$	(3	)	$	4		$	4		$	(36	)	$	(18	)	$	8		$	9
Net periodic benefit (income) cost at FPL	$	(12	)	$	(2	)	$	3		$	3		$	(23	)	$	(12	)	$	6		$	6

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Derivative Instruments (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge		18 years 3 months
Maximum Length of Time Hedged in Foreign Currency Cash Flow Hedge		16 years 3 months
Total gain (loss) to be reclassified during next 12 months	$ (49)
Margin cash collateral received from counterparties that was not offset against derivative assets	20	20	24
Margin cash collateral provided to counterparties that was not offset against derivative liabilities	$ 93	$ 93	$ 42

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Fair Value Measurements (Nonrecurring Fair Value Measurements) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on assets previously held for sale	$ 0	$ 0	$ 21	$ (67)
Impairment of Long-Lived Assets Held-for-use	0	0	0	300
Impairment Of Long Lived Assets Held For Use After Tax				342
NextEra Energy Resources [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Planned capacity of Spain Solar projects - in megawatts				99.8
Carrying value of property, plant, and equipment prior to impairment charge		800		800
Property, Plant, and Equipment, Fair Value Disclosure		500		500
Impairment of Long-Lived Assets Held-for-use				300
Impairment Of Long Lived Assets Held For Use After Tax				342
Maine fossil [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Capacity associated with assets previously held for sale (in megawatts)	796		796
Gain (loss) on assets previously held for sale			21	(67)
After-tax gain (loss) on assets previously held for sale			$ 12	$ (43)

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Commitments and Contingencies (Insurance and Legal Proceedings) (Details) (USD $)	6 Months Ended	24 Months Ended
	Jun. 30, 2014	Dec. 31, 1996	Jan. 29, 1999
Insurance [Abstract]
Maximum obtainable amount of private liability insurance available under Price-Anderson Act	$ 375,000,000
Amount of secondary financial protection liability insurance coverage per incident	13,200,000,000
Potential Retrospective Assessments Under Secondary Financial Protection System	1,000,000,000
Potential Retrospective Assessments Under Secondary Financial Protection System Payable Per Incident Per Year	152,000,000
Amount of coverage per occurrence per site for property damage, decontamination and premature decommissioning risks	2,750,000,000
Amount of sublimit for nonnuclear perils per occurence per site under nuclear inusurance mutal companies for property damage decontamination and premature decommissioning risks	1,500,000,000
Potential amount of retrospective assessment per occurrence per site for property damage, decontamination and premature decommissioning risks	175,000,000
Legal Proceedings [Abstract]
FPL's interest owned in generation facility Scherer Unit No. 4	76.00%
Maximum amount of civil penalties per day - Clean Air Act from June 1, 1975 through January 30, 1997	25,000
Maximum amount of civil penalties per day - Clean Air Act from January 31, 1997 through March 15, 2004	27,500
Maximum amount of civil penalties per day - Clean Air Act from March 16, 2004 through January 12, 2009	32,500
Maximum amount of civil penalties per day - Clean Air Act from January 13, 2009 forward	37,500
Shares of Adelphia common stock purchased (in shares)		1,091,524
Shares of Adelphia preferred stock purchased (in shares)		20,000
Shares of Adelphia common stock if Adelphia preferred stock converted to Adelphia common stock (in shares)		2,358,490
Aggregate price paid for Adelphia common and preferred stock		35,900,000
Cash paid by Adelphia for repurchase of Adelphia acquired shares			149,213,130
Seabrook Station Insurance [Member]
Insurance [Abstract]
Potential retrospective assessment recoverable from minority interest for nuclear liability secondary financial protection	15,000,000
Potential retrospective assessment recoverable from minority interest for property damage, decontamination and premature decommissioning risks	2,000,000
Duane Arnold Energy Center Insurance [Member]
Insurance [Abstract]
Potential retrospective assessment recoverable from minority interest for nuclear liability secondary financial protection	38,000,000
Potential retrospective assessment recoverable from minority interest for property damage, decontamination and premature decommissioning risks	5,000,000
St Lucie Unit No 2 Insurance [Member]
Insurance [Abstract]
Potential retrospective assessment recoverable from minority interest for nuclear liability secondary financial protection	19,000,000
Potential retrospective assessment recoverable from minority interest for property damage, decontamination and premature decommissioning risks	4,000,000
FPL [Member]
Insurance [Abstract]
Potential Retrospective Assessments Under Secondary Financial Protection System	509,000,000
Potential Retrospective Assessments Under Secondary Financial Protection System Payable Per Incident Per Year	76,000,000
Potential amount of retrospective assessment per occurrence per site for property damage, decontamination and premature decommissioning risks	$ 106,000,000

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
OPERATING REVENUES	$ 4,029		$ 3,833		$ 7,703		$ 7,112
OPERATING EXPENSES
Fuel, purchased power and interchange	1,373		1,262		2,771		2,327
Other operations and maintenance	768		764		1,524		1,520
Impairment charge	0		0		0		300
Depreciation and amortization	614		500		1,076		918
Taxes other than income taxes and other	323		326		642		632
Total operating expenses	3,078		2,852		6,013		5,697
OPERATING INCOME	951		981		1,690		1,415
OTHER INCOME (DEDUCTIONS)
Interest expense	(305)		(266)		(624)		(537)
Benefits associated with differential membership interests - net	58		42		122		82
Equity in earnings of equity method investees	20		9		22		5
Allowance for equity funds used during construction	6		12		21		38
Interest income	21		19		42		38
Gains on disposal of assets - net	33		9		77		21
Gain (loss) associated with Maine fossil	0		0		21		(67)
Other - net	0		15		(6)		12
Total other deductions - net	(167)		(160)		(325)		(408)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	784		821	[1]	1,365		1,007
INCOME TAXES	292		211	[1]	444		355
INCOME FROM CONTINUING OPERATIONS	492		610		921		652	[2]
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	0		0		0		231	[2],[3]
NET INCOME	492		610	[1]	921		883
Earnings per share of common stock:
Continuing operations	$ 1.13		$ 1.45		$ 2.12		$ 1.54
Discontinued operations	$ 0.00		$ 0.00		$ 0.00		$ 0.55
Net income	$ 1.13		$ 1.45		$ 2.12		$ 2.09
Continuing operations, assuming dilution	$ 1.12		$ 1.44		$ 2.10		$ 1.54
Discontinued operations, assuming dilution	$ 0.00		$ 0.00		$ 0.00		$ 0.54
Net Income	$ 1.12		$ 1.44		$ 2.10		$ 2.08
Dividends per share of common stock	$ 0.725		$ 0.66		$ 1.45		$ 1.32
Weighted-average number of common shares outstanding:
Basic	434.1		421.8		433.8		421.4
Assuming dilution	440.1		424.8		439.3		424.3
FPL [Member]
OPERATING REVENUES	2,889		2,696		5,424		4,885
OPERATING EXPENSES
Fuel, purchased power and interchange	1,076		1,018		2,112		1,838
Other operations and maintenance	388		426		771		811
Depreciation and amortization	349		248		557		429
Taxes other than income taxes and other	294		280		570		540
Total operating expenses	2,107		1,972		4,010		3,618
OPERATING INCOME	782		724		1,414		1,267
OTHER INCOME (DEDUCTIONS)
Interest expense	(111)		(104)		(213)		(205)
Allowance for equity funds used during construction	6		12		21		30
Other - net	1		0		2		0
Total other deductions - net	(104)		(92)		(190)		(175)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	678		632		1,224		1,092
INCOME TAXES	255		241		454		413
NET INCOME	$ 423	[4]	$ 391	[4]	$ 770	[4]	$ 679	[4]

[1] Represents FPL and consolidating adjustments.

[2] Prior year amounts were restated to conform to current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements

[3] See Note 6.

[4] (a)FPL's comprehensive income is the same as reported net income.

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Variable Interest Entities (VIEs) (Details) (USD $) In Millions, unless otherwise specified							3 Months Ended		6 Months Ended					6 Months Ended			6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014 Other variable interest entities [Member]	Dec. 31, 2013 Other variable interest entities [Member]	Jun. 30, 2014 FPL [Member] Bankruptcy remote special purpose subsidiary [Member]	Dec. 31, 2013 FPL [Member] Bankruptcy remote special purpose subsidiary [Member]	Dec. 31, 2007 FPL [Member] Bankruptcy remote special purpose subsidiary [Member]	Jun. 30, 2014 FPL [Member] Qualifying facility 1 [Member] MWh	Jun. 30, 2013 FPL [Member] Qualifying facility 1 [Member] MWh	Jun. 30, 2014 FPL [Member] Qualifying facility 1 [Member] MW MWh	Jun. 30, 2013 FPL [Member] Qualifying facility 1 [Member] MWh	Jun. 30, 2014 FPL [Member] Qualifying facility 2 [Member] MW	Jun. 30, 2014 FPL [Member] Other variable interest entities [Member]	Dec. 31, 2013 FPL [Member] Other variable interest entities [Member]	Jun. 30, 2014 NextEra Energy Resources [Member]	Jun. 30, 2014 NextEra Energy Resources [Member] Gas and/or oil variable interest entities [Member] MW entities	Dec. 31, 2013 NextEra Energy Resources [Member] Gas and/or oil variable interest entities [Member]	Jun. 30, 2014 NextEra Energy Resources [Member] Wind variable interest entities [Member] MW entities	Dec. 31, 2013 NextEra Energy Resources [Member] Wind variable interest entities [Member]
Variable Interest Entity [Line Items]
Total number of consolidated variable interest entities	14													13	1		12	12
Storm-recovery bonds aggregate principal amount issued						$ 652
Proceeds from issuance of storm-recovery bonds						644
Carrying amount of assets, consolidated variable interest entity				297	324										87	85	5,200	5,300
Carrying amount of liabilities, consolidated variable interest entity				365	394										61	63	3,100	3,300
Coal fired generating facility capacity (in megawatts)									250		330
Quantity of electricity purchased (in megawatt-hours)							246,544	202,661	375,484	281,871
Cost of electricity purchased							40	38	76	73
Ownership percentage														100.00%
Natural gas and or oil electric generating facility capacity (in megawatts)															110
Expiration date of power sales contracts with third parties, low range															2018		2018
Expiration date of power sales contracts with third parties, high range															2020		2038
Wind electric generating facility capability (in megawatts)																	3,541
Total number of consolidated VIEs sell electric output under power sales contracts																	10
Total number of consolidated VIEs sell in spot market																	2
Investments in special purpose entities		$ 603	$ 668									$ 491	$ 505

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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
PROPERTY, PLANT AND EQUIPMENT
Total property, plant and equipment - net	$ 54,031	$ 52,720
CURRENT ASSETS
Customer receivables, allowances	15	14
OTHER ASSETS
Securitized storm-recovery costs	337	372
CAPITALIZATION
Long-term debt	25,049	23,969
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	800,000,000	800,000,000
Common Stock, Shares, Outstanding	436,000,000	435,000,000
Related to VIEs [Member]
PROPERTY, PLANT AND EQUIPMENT
Total property, plant and equipment - net	5,027	5,127
OTHER ASSETS
Securitized storm-recovery costs	207	228
CAPITALIZATION
Long-term debt	1,117	1,207
FPL [Member]
CURRENT ASSETS
Customer receivables, allowances	6	5
OTHER ASSETS
Securitized storm-recovery costs	337	372
CAPITALIZATION
Long-term debt	8,942	8,473
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	1,000	1,000
Common Stock, Shares, Outstanding	1,000	1,000
Common Stock, Shares, Issued	1,000	1,000
FPL [Member] | Related to VIEs [Member]
PROPERTY, PLANT AND EQUIPMENT
Total property, plant and equipment - net	207	228
CAPITALIZATION
Long-term debt	$ 300	$ 331

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Derivative Instruments (Net Notional Volumes and Additional Disclosures) (Details) (USD $) In Millions, unless otherwise specified	Jun. 30, 2014 MWh	Dec. 31, 2013 MWh
Commodity contract - Power [Member]
Derivative [Line Items]
Non-monetary net notional volumes	(94,000,000)	(276,000,000)
Commodity contract - Natural gas [Member]
Derivative [Line Items]
Non-monetary net notional volumes	1,422,000,000	1,140,000,000
Commodity contract - Oil [Member]
Derivative [Line Items]
Non-monetary net notional volumes	(9,000,000)	(10,000,000)
Interest rate contracts [Member]
Derivative [Line Items]
Notional amount	$ 7,100	$ 6,500
Currency Swap [Member]
Derivative [Line Items]
Notional amount	$ 661	$ 662
FPL [Member] | Commodity contract - Power [Member]
Derivative [Line Items]
Non-monetary net notional volumes	0	0
FPL [Member] | Commodity contract - Natural gas [Member]
Derivative [Line Items]
Non-monetary net notional volumes	884,000,000	674,000,000
FPL [Member] | Commodity contract - Oil [Member]
Derivative [Line Items]
Non-monetary net notional volumes	0	0

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Employee Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2014

Compensation and Retirement Disclosure [Abstract]

Net periodic benefit (income) cost

The components of net periodic benefit (income) cost for the plans are as follows:

	Pension Benefits						Other Benefits						Pension Benefits						Other Benefits
	Three Months Ended   June 30,						Three Months Ended   June 30,						Six Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013			2014			2013			2014			2013
	(millions)
Service cost	$	16		$	18		$	1		$	1		$	32		$	36		$	2		$	2
Interest cost	26			24			4			4			51			48			8			8
Expected return on plan assets	(60		)	(59		)	(1		)	—			(120		)	(119		)	(1		)	—
Amortization of prior service cost (benefit)	—			2			—			(1		)	1			4			(1		)	(2		)
Amortization of losses	—			—			—			—			—			1			—			1
Special termination benefits	—			12			—			—			—			12			—			—
Net periodic benefit (income) cost at NEE	$	(18	)	$	(3	)	$	4		$	4		$	(36	)	$	(18	)	$	8		$	9
Net periodic benefit (income) cost at FPL	$	(12	)	$	(2	)	$	3		$	3		$	(23	)	$	(12	)	$	6		$	6

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Derivative Instruments (Credit-Risk-Related Contingent Features) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Derivative [Line Items]
Fair value of derivative instruments with credit-risk-related contingent features that were in a liability position	$ 2,000,000,000	$ 2,100,000,000
Total required posted collateral should FPL's and Capital Holdings' credit ratings fall to BBB/Baa2	300,000,000	400,000,000
Total required posted collateral should FLP's and Capital Holdings' credit ratings fall below investment grade	2,300,000,000	2,300,000,000
Additional collateral requirements if non-ratings based contract provisions are triggered	700,000,000	800,000,000
Letters of credit posted through the normal course of business that could be applied toward the collateral requirements related to derivative instruments with credit-risk-related contingent features	39,000,000	210,000,000
FPL [Member]
Derivative [Line Items]
Fair value of derivative instruments with credit-risk-related contingent features that were in a liability position	12,000,000	9,000,000
Total required posted collateral should FPL's and Capital Holdings' credit ratings fall to BBB/Baa2	20,000,000	20,000,000
Total required posted collateral should FLP's and Capital Holdings' credit ratings fall below investment grade	400,000,000	400,000,000
Additional collateral requirements if non-ratings based contract provisions are triggered	200,000,000	150,000,000
Letters of credit posted through the normal course of business that could be applied toward the collateral requirements related to derivative instruments with credit-risk-related contingent features	$ 0	$ 0

XML

Fair Value Measurements Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Financial assets and liabilities and other fair value measurements

Recurring Fair Value Measurements - NEE's and FPL's financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:

	June 30, 2014
	Level 1		Level 2			Level 3		Netting(a)			Total
	(millions)
Assets:
Cash equivalents:
NEE - equity securities	$	114	$	—		$	—				$	114
Special use funds:(b)
NEE:
Equity securities	$	1,185	$	1,353	(c)	$	—				$	2,538
U.S. Government and municipal bonds	$	619	$	167		$	—				$	786
Corporate debt securities	$	—	$	662		$	—				$	662
Mortgage-backed securities	$	—	$	485		$	—				$	485
Other debt securities	$	25	$	36		$	—				$	61
FPL:
Equity securities	$	279	$	1,182	(c)	$	—				$	1,461
U.S. Government and municipal bonds	$	512	$	150		$	—				$	662
Corporate debt securities	$	—	$	465		$	—				$	465
Mortgage-backed securities	$	—	$	420		$	—				$	420
Other debt securities	$	25	$	22		$	—				$	47
Other investments:
NEE:
Equity securities	$	43	$	1		$	—				$	44
Debt securities	$	20	$	169		$	—				$	189
Derivatives:
NEE:
Commodity contracts	$	2,217	$	2,213		$	1,052	$	(4,082	)	$	1,400	(d)
Interest rate contracts	$	—	$	43		$	—	$	25		$	68	(d)
Foreign currency swaps	$	—	$	—		$	—	$	3		$	3	(d)
FPL - commodity contracts	$	—	$	80		$	4	$	—		$	84	(d)
Liabilities:
Derivatives:
NEE:
Commodity contracts	$	2,174	$	2,169		$	579	$	(3,948	)	$	974	(d)
Interest rate contracts	$	—	$	94		$	119	$	25		$	238	(d)
Foreign currency swaps	$	—	$	32		$	—	$	3		$	35	(d)
FPL - commodity contracts	$	—	$	11		$	1	$	—		$	12	(d)

————————————

(a) Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.  NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the condensed consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively.

(b) Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at the Carrying Amount below.

(c) Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.

(d) See Note 3 - Fair Value of Derivative Instruments for a reconciliation of net derivatives to NEE's and FPL's condensed consolidated balance sheets.

	December 31, 2013
	Level 1		Level 2			Level 3		Netting(a)			Total
	(millions)
Assets:
Cash equivalents:
NEE - equity securities	$	20	$	—		$	—				$	20
Special use funds:(b)
NEE:
Equity securities	$	1,170	$	1,336	(c)	$	—				$	2,506
U.S. Government and municipal bonds	$	647	$	180		$	—				$	827
Corporate debt securities	$	—	$	597		$	—				$	597
Mortgage-backed securities	$	—	$	479		$	—				$	479
Other debt securities	$	16	$	44		$	—				$	60
FPL:
Equity securities	$	291	$	1,176	(c)	$	—				$	1,467
U.S. Government and municipal bonds	$	584	$	154		$	—				$	738
Corporate debt securities	$	—	$	421		$	—				$	421
Mortgage-backed securities	$	—	$	401		$	—				$	401
Other debt securities	$	16	$	30		$	—				$	46
Other investments:
NEE:
Equity securities	$	51	$	—		$	—				$	51
Debt securities	$	11	$	107		$	—				$	118
Derivatives:
NEE:
Commodity contracts	$	1,368	$	2,106		$	1,069	$	(2,972	)	$	1,571	(d)
Interest rate contracts	$	—	$	90		$	—	$	—		$	90	(d)
FPL - commodity contracts	$	—	$	53		$	2	$	(7	)	$	48	(d)
Liabilities:
Derivatives:
NEE:
Commodity contracts	$	1,285	$	1,994		$	354	$	(2,693	)	$	940	(d)
Interest rate contracts	$	—	$	127		$	93	$	—		$	220	(d)
Foreign currency swaps	$	—	$	151		$	—	$	—		$	151	(d)
FPL - commodity contracts	$	—	$	7		$	2	$	(7	)	$	2	(d)

————————————

(a) Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.  NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the condensed consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively.

(b) Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at the Carrying Amount below.

(c) Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.

(d) See Note 3 - Fair Value of Derivative Instruments for a reconciliation of net derivatives to NEE's and FPL's condensed consolidated balance sheets.

Significant unobservable inputs used in valuation of contracts categorized as Level 3

The significant unobservable inputs used in the valuation of NEE's commodity contracts categorized as Level 3 of the fair value hierarchy at June 30, 2014 are as follows:

Transaction Type	Fair Value at June 30, 2014				Valuation Technique(s)	Significant Unobservable Inputs	Range
	Assets		Liabilities
	(millions)
Forward contracts - power	$	518	$	104	Discounted cash flow	Forward price (per MWh)	$8	—	$169
Forward contracts - gas	105		35		Discounted cash flow	Forward price (per MMBtu)	$2	—	$18
Forward contracts - other commodity related	24		40		Discounted cash flow	Forward price (various)	$1	—	$112
Options - power	133		123		Option models	Implied correlations	10%	—	96%
						Implied volatilities	1%	—	431%
Options - gas	65		123		Option models	Implied correlations	10%	—	96%
						Implied volatilities	1%	—	95%
Full requirements and unit contingent contracts	207		154		Discounted cash flow	Forward price (per MWh)	$(11)	—	$219
						Customer migration rate(a)	—%	—	20%
Total	$	1,052	$	579

——————————

(a) Applies only to full requirements contracts.

Reconciliation of changes in the fair value of derivatives measured based on significant unobservable inputs

The reconciliation of changes in the fair value of derivatives that are based on significant unobservable inputs is as follows:

	Three Months Ended June 30,
	2014						2013
	NEE			FPL			NEE			FPL
	(millions)
Fair value of net derivatives based on significant unobservable inputs at March 31	$	460		$	3		$	522		$	2
Realized and unrealized gains (losses):
Included in earnings(a)	(73		)	—			13			—
Included in regulatory assets and liabilities	1			1			(3		)	(3		)
Purchases	10			—			21			—
Settlements	38			(1		)	(23		)	—
Issuances	(75		)	—			(30		)	—
Transfers in(b)	9			—			(114		)	—
Transfers out(b)	(16		)	—			(2		)	—
Fair value of net derivatives based on significant unobservable inputs at June 30	$	354		$	3		$	384		$	(1	)
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)	$	(73	)	$	—		$	12		$	—

————————————

(a) For the three months ended June 30, 2014, realized and unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the three months ended June 30, 2013, realized and unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

(b) Transfers into Level 3 were a result of decreased observability of market data and, in 2013, a significant credit valuation adjustment.  Transfers from Level 3 to Level 2 were a result of increased observability of market data.  NEE's and FPL's policy is to recognize all transfers at the beginning of the reporting period.

(c) For the three months ended June 30, 2014, unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the three months ended June 30, 2013, unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

	Six Months Ended June 30,
	2014						2013
	NEE			FPL			NEE			FPL
	(millions)
Fair value of net derivatives based on significant unobservable inputs at December 31 of prior year	$	622		$	—		$	566		$	2
Realized and unrealized gains (losses):
Included in earnings(a)	(496		)	—			10			—
Included in regulatory assets and liabilities	5			5			(2		)	(2		)
Purchases	14			—			70			—
Settlements	304			(2		)	(56		)	(1		)
Issuances	(94		)	—			(94		)	—
Transfers in(b)	16			—			(114		)	—
Transfers out(b)	(17		)	—			4			—
Fair value of net derivatives based on significant unobservable inputs at June 30	$	354		$	3		$	384		$	(1	)
The amount of gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)	$	(260	)	$	—		$	40		$	—

————————————

(a) For the six months ended June 30, 2014, realized and unrealized losses of approximately $453 million are reflected in the condensed consolidated statements of income in operating revenues, $41 million in interest expense and the balance is reflected in fuel, purchased power and interchange.  For the six months ended June 30, 2013, realized and unrealized gains (losses) of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense, $1 million in operating revenues and the balance is reflected in fuel, purchased power and interchange.

(b) Transfers into Level 3 were a result of decreased observability of market data and, in 2013, a significant credit valuation adjustment.  Transfers from Level 3 to Level 2 were a result of increased observability of market data.  NEE's and FPL's policy is to recognize all transfers at the beginning of the reporting period.

(c) For the six months ended June 30, 2014, unrealized losses of approximately $219 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the six months ended June 30, 2013, unrealized gains (losses) of approximately $32 million are reflected in the condensed consolidated statements of income in operating revenues, $11 million in interest expense and the balance is reflected in fuel, purchased power and interchange.

Fair Value, by Balance Sheet Grouping

Fair Value of Financial Instruments Recorded at the Carrying Amount - The carrying amounts of cash equivalents, short-term debt and commercial paper approximate their fair values.  The carrying amounts and estimated fair values of other financial instruments, excluding those recorded at fair value and disclosed above in Recurring Fair Value Measurements, are as follows:

	June 30, 2014					December 31, 2013
	Carrying Amount		Estimated Fair Value			Carrying Amount		Estimated Fair Value
	(millions)
NEE:
Special use funds(a)	$	502	$	502		$	311	$	311
Other investments - primarily notes receivable	$	522	$	689	(b)	$	531	$	627	(b)
Long-term debt, including current maturities	$	28,328	$	30,448	(c)	$	27,728	$	28,612	(c)
FPL:
Special use funds(a)	$	379	$	379		$	200	$	200
Long-term debt, including current maturities	$	9,000	$	10,253	(c)	$	8,829	$	9,451	(c)

————————————

(a) Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis.

(b) Primarily classified as held to maturity.  Fair values are primarily estimated using a discounted cash flow valuation technique based on certain observable yield curves and indices considering the credit profile of the borrower (Level 3).  Notes receivable bear interest primarily at fixed rates and mature by 2029.  Notes receivable are considered impaired and placed in non-accrual status when it becomes probable that all amounts due cannot be collected in accordance with the contractual terms of the agreement.  The assessment to place notes receivable in non-accrual status considers various credit indicators, such as credit ratings and market-related information.  As of June 30, 2014 and December 31, 2013, NEE had no notes receivable reported in non-accrual status.

(c) As of June 30, 2014 and December 31, 2013, for NEE, $19,196 million and $17,921 million, respectively, is estimated using quoted market prices for the same or similar issues (Level 2); the balance is estimated using a discounted cash flow valuation technique, considering the current credit spread of the debtor (Level 3).  For FPL, estimated using quoted market prices for the same or similar issues (Level 2).

Available-for-sale Securities

Realized gains and losses and proceeds from the sale or maturity of available for sale securities are as follows:

	NEE				FPL				NEE				FPL
	Three Months Ended   June 30,				Three Months Ended   June 30,				Six Months Ended   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013		2014		2013		2014		2013
	(millions)
Realized gains	$	71	$	21	$	56	$	8	$	148	$	63	$	88	$	31
Realized losses	$	83	$	13	$	76	$	8	$	105	$	43	$	93	$	30
Proceeds from sale or maturity of securities	$	813	$	858	$	637	$	669	$	2,214	$	1,782	$	1,799	$	1,354

The unrealized gains on available for sale securities are as follows:

	NEE				FPL
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
	(millions)
Equity securities	$	1,200	$	1,125	$	838	$	777
Debt securities	$	64	$	42	$	53	$	36

The unrealized losses on available for sale debt securities and the fair value of available for sale debt securities in an unrealized loss position are as follows:

	NEE				FPL
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
	(millions)
Unrealized losses(a)	$	5	$	32	$	4	$	25
Fair value	$	305	$	1,069	$	231	$	844

————————————

(a) Unrealized losses on available for sale debt securities for securities in an unrealized loss position for greater than twelve months at June 30, 2014 and December 31, 2013 were not material to NEE or FPL.

XML

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 921		$ 883
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,076		918
Nuclear fuel and other amortization	170		177
Impairment charge	0		300
Unrealized losses on marked to market energy contracts	310		68
Deferred income taxes	461		535
Cost recovery clauses and franchise fees	(140)		(157)
Benefits associated with differential membership interests - net	(122)		(82)
Equity in earnings of equity method investees	(22)		(5)
Allowance for equity funds used during construction	(21)		(38)
Gains on disposal of assets - net	(77)		(21)
Gain from discontinued operations, net of income taxes	0		(231)	[1],[2]
Loss (gain) associated with Maine fossil	(21)		67
Other - net	233		23
Changes in operating assets and liabilities:
Customer and other receivables	(151)		(276)
Materials, supplies and fossil fuel inventory	(20)		(47)
Other current assets	(21)		(50)
Other assets	(167)		(52)
Accounts payable and customer deposits	193		224
Margin cash collateral	(200)		33
Income taxes	(30)		(132)
Interest and other taxes	236		201
Other current liabilities	(142)		(89)
Other liabilities	(18)		1
Net cash provided by operating activities	2,448		2,250
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures of FPL	(1,568)		(1,465)
Independent power and other investments of NEER	(1,436)		(1,510)
Cash grants under the American Recovery and Reinvestment Act of 2009	306		170
Nuclear fuel purchases	(171)		(86)
Other capital expenditures and other investments	(64)		(93)
Sale of independent power investments	273		0
Change in loan proceeds restricted for construction	(366)		207
Proceeds from sale or maturity of securities in special use funds	2,295		1,907
Purchases of securities in special use funds	(2,375)		(1,947)
Other - net	1		32
Net cash used in investing activities	(3,105)		(2,785)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	2,729		2,862
Retirements of long-term debt	(2,275)		(1,425)
Proceeds from sale of differential membership interests	39		201
Payments to differential membership investors	(42)		(37)
Net change in short-term debt	925		(370)
Issuances of common stock - net	42		9
Dividends	(630)		(557)
Other - net	53		(66)
Net cash provided by (used in) financing activities	841		617
Net increase (decrease) in cash and cash equivalents	184		82
Cash and cash equivalents at beginning of period	438		329
Cash and cash equivalents at end of period	622		411
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property additions	1,021		726
Sale of hydropower generation plants through assumption of debt by buyer	0		700
Changes in property, plant and equipment as a result of a settlement	107		0
FPL [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	770	[3]	679	[3]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	557		429
Nuclear fuel and other amortization	95		83
Deferred income taxes	287		353
Cost recovery clauses and franchise fees	(140)		(157)
Allowance for equity funds used during construction	(21)		(30)
Other - net	87		67
Changes in operating assets and liabilities:
Customer and other receivables	(139)		(118)
Materials, supplies and fossil fuel inventory	(32)		(26)
Other current assets	(8)		(36)
Other assets	(82)		(12)
Accounts payable and customer deposits	133		159
Income taxes	97		61
Interest and other taxes	209		191
Other current liabilities	(69)		(83)
Other liabilities	(21)		(14)
Net cash provided by operating activities	1,723		1,546
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures of FPL	(1,568)		(1,465)
Nuclear fuel purchases	(110)		(41)
Proceeds from sale or maturity of securities in special use funds	1,799		1,354
Purchases of securities in special use funds	(1,851)		(1,388)
Other - net	29		10
Net cash used in investing activities	(1,701)		(1,530)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	499		498
Retirements of long-term debt	(329)		(427)
Net change in short-term debt	247		241
Capital contribution from NEE	100		0
Dividends	(500)		(340)
Other - net	0		2
Net cash provided by (used in) financing activities	17		(26)
Net increase (decrease) in cash and cash equivalents	39		(10)
Cash and cash equivalents at beginning of period	19		40
Cash and cash equivalents at end of period	58		30
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property additions	$ 326		$ 365

[1] See Note 6.

[2] Prior year amounts were restated to conform to current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements

[3] (a)FPL's comprehensive income is the same as reported net income.

XML

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (USD $) In Millions, unless otherwise specified	3 Months Ended			6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013		Jun. 30, 2014	Jun. 30, 2013
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
NET INCOME	$ 492	$ 610	[1]	$ 921	$ 883
Net unrealized gains (losses) on cash flow hedges:
Effective portion of net unrealized gains (losses) (net of $3 tax benefit, $25 tax expense, $14 tax benefit and $52 tax expense, respectively)	(7)	36		(25)	101
Reclassification from accumulated other comprehensive income to net income (net of $3 tax benefit, $9, $2 and $22 tax expense, respectively)	(4)	18		5	39
Net unrealized gains (losses) on available for sale securities:
Net unrealized gains on securities still held (net of $22, $1, $31 and $27 tax expense, respectively)	40	2		53	42
Reclassification from accumulated other comprehensive income to net income (net of $3, $3, $18 and $7 tax benefit, respectively)	(5)	(4)		(30)	(10)
Defined benefit pension and other benefits plans (net of $3 and $4 tax expense, respectively)	0	0		5	7
Net unrealized gains (losses) on foreign currency translation (net of $8 tax expense, $11 tax benefit and $16 tax benefit, respectively)	17	(23)		0	(32)
Other comprehensive income (loss) related to equity method investee (net of $2 tax benefit, $3 tax expense, $3 tax benefit and $4 tax expense, respectively)	(3)	5		(5)	6
Total other comprehensive income, net of tax	38	34		3	153
COMPREHENSIVE INCOME	$ 530	$ 644		$ 924	$ 1,036

[1] Represents FPL and consolidating adjustments.

XML

Commitments and Contingencies

6 Months Ended

Jun. 30, 2014

Commitments and Contingencies [Abstract]

Commitments and Contingencies

At June 30, 2014, estimated capital expenditures for the remainder of 2014 through 2018 were as follows:

	Remainder of 2014		2015		2016		2017		2018		Total
	(millions)
FPL:
Generation:(a)
New(b)(c)	$	330	$	275	$	90	$	—	$	—	$	695
Existing	410		670		615		580		545		2,820
Transmission and distribution	750		1,205		1,125		955		1,025		5,060
Nuclear fuel	75		205		220		190		180		870
General and other	115		155		120		165		160		715
Total(d)	$	1,680	$	2,510	$	2,170	$	1,890	$	1,910	$	10,160
NEER:
Wind(e)	$	1,005	$	705	$	70	$	5	$	10	$	1,795
Solar(f)	365		850		405		—		—		1,620
Nuclear(g)	190		285		305		245		255		1,280
Other(h)	250		110		75		45		80		560
Total	$	1,810	$	1,950	$	855	$	295	$	345	$	5,255
Corporate and Other(i)	$	150	$	470	$	785	$	200	$	95	$	1,700

————————————

(a) Includes allowance for funds used during construction (AFUDC) of approximately $21 million, $53 million and $17 million for the remainder of 2014 through 2016, respectively.

(b) Includes land, generating structures, transmission interconnection and integration and licensing.

(c) Consists of projects that have received FPSC approval. Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.

(d) FPL has identified $1.5 billion to $2.5 billion in potential incremental capital expenditures through 2016 in addition to what is included in the table above.

(e) Consists of capital expenditures for new wind projects and related transmission totaling approximately 1,910 MW, including approximately 465 MW in Canada, that have received applicable internal approvals.  NEER expects to add new U.S. wind generation of 2,000 MW to 2,500 MW in 2013 through 2015, including 325 MW added to date, at a total cost of up to $3.5 billion to $4.5 billion.

(f) Consists of capital expenditures for new solar projects and related transmission totaling approximately 587 MW that have received applicable internal approvals, including equity contributions associated with a 50% equity investment in a 550 MW solar project.  Excludes solar projects requiring internal approvals with generation totaling 47 MW with an estimated cost of approximately $120 million.

(g) Includes nuclear fuel.

(h) Consists of capital expenditures that have received applicable internal approvals.

(i) Includes capital expenditures totaling approximately $1.4 billion for the remainder of 2014 through 2018 for construction of a natural gas pipeline system that has received applicable internal approvals, including approximately $855 million of equity contributions associated with a 33% equity investment in the northern portion of the natural gas pipeline system and $520 million for the southern portion, which includes AFUDC of approximately $1 million, $7 million, $20 million and $11 million for the remainder of 2014 through 2017, respectively.  Construction of the natural gas pipeline system is subject to certain conditions, including FERC approval.  A FERC decision is expected in 2015.  See Contracts below.

The above estimates are subject to continuing review and adjustment and actual capital expenditures may vary significantly from these estimates.

Contracts - In addition to the commitments made in connection with the estimated capital expenditures included in the table in Commitments above, FPL has commitments under long-term purchased power and fuel contracts.  As of June 30, 2014, FPL is obligated under take-or-pay purchased power contracts with JEA and with subsidiaries of The Southern Company (Southern subsidiaries) to pay for approximately 1,330 MW annually through 2015 and 375 MW annually thereafter through 2021.  FPL also has various firm pay-for-performance contracts to purchase approximately 705 MW from certain cogenerators and small power producers (qualifying facilities) with expiration dates ranging from 2024 through 2034.  The purchased power contracts provide for capacity and energy payments.  Energy payments are based on the actual power taken under these contracts.  Capacity payments for the pay-for-performance contracts are subject to the qualifying facilities meeting certain contract conditions.  FPL has contracts with expiration dates through 2036 for the purchase and transportation of natural gas and coal, and storage of natural gas.  In addition, FPL has entered into 25-year natural gas transportation agreements with each of Sabal Trail Transmission, LLC (Sabal Trail, an entity in which a NEECH subsidiary has a 33% ownership interest), and Florida Southeast Connection, LLC (Florida Southeast Connection, a wholly-owned NEECH subsidiary), each of which will build, own and operate a pipeline that will be part of a natural gas pipeline system, for a quantity of 400,000 MMBtu/day beginning on May 1, 2017 and increasing to 600,000 MMBtu/day on May 1, 2020.  These agreements contain firm commitments that are contingent upon the occurrence of certain events, including FERC approval and completion of construction of the pipeline system to be built by Sabal Trail and Florida Southeast Connection.  See Commitments above.

As of June 30, 2014, NEER has entered into contracts with expiration dates ranging from August 2014 through 2030 primarily for the purchase of wind turbines, wind towers and solar modules and related construction and development activities, as well as for the supply of uranium, conversion, enrichment and fabrication of nuclear fuel.  Approximately $3.0 billion of commitments under such contracts are included in the estimated capital expenditures table in Commitments above.  In addition, NEER has contracts primarily for the purchase, transportation and storage of natural gas and firm transmission service with expiration dates ranging from August 2014 through 2033.

Included in Corporate and Other in the table below is the remaining commitment by a NEECH subsidiary to invest over $900 million in Sabal Trail for the construction of the northern portion of the natural gas pipeline system.  Amounts committed for the remainder of 2014 through 2018 are also included in the estimated capital expenditures table in Commitments above.

The required capacity and/or minimum payments under the contracts discussed above as of June 30, 2014 were estimated as follows:

	Remainder of 2014		2015		2016		2017		2018		Thereafter
	(millions)
FPL:
Capacity charges:(a)
Qualifying facilities	$	140	$	290	$	250	$	255	$	260	$	1,965
JEA and Southern subsidiaries	$	110	$	195	$	70	$	50	$	10	$	5
Minimum charges, at projected prices:(b)
Natural gas, including transportation and storage(c)	$	995	$	1,045	$	685	$	745	$	825	$	14,520
Coal	$	35	$	40	$	20	$	—	$	—	$	—
NEER	$	1,430	$	1,085	$	480	$	115	$	120	$	475
Corporate and Other(d)(e)	$	95	$	250	$	510	$	50	$	25	$	70

————————————

(a) Capacity charges under these contracts, substantially all of which are recoverable through the capacity cost recovery clause, totaled approximately $123 million and $119 million for the three months ended June 30, 2014 and 2013, respectively, and approximately $246 million and $244 million for the six months ended June 30, 2014 and 2013, respectively.  Energy charges under these contracts, which are recoverable through the fuel clause, totaled approximately $75 million and $86 million for the three months ended June 30, 2014 and 2013, respectively, and approximately $132 million and $109 million for the six months ended June 30, 2014 and 2013, respectively.

(b) Recoverable through the fuel clause.

(c) Includes approximately $200 million, $295 million and $8,535 million in 2017, 2018 and thereafter, respectively, of firm commitments, subject to certain conditions as noted above, related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection.

(d) Includes an approximately $50 million commitment to invest in clean power and technology businesses through 2021.

(e) Excludes approximately $195 million and $200 million in 2014 and 2015, respectively, of joint obligations of NEECH and NEER which are included in the NEER amounts above.

Insurance - Liability for accidents at nuclear power plants is governed by the Price-Anderson Act, which limits the liability of nuclear reactor owners to the amount of insurance available from both private sources and an industry retrospective payment plan.  In accordance with this Act, NEE maintains $375 million of private liability insurance per site, which is the maximum obtainable, and participates in a secondary financial protection system, which provides up to $13.2 billion of liability insurance coverage per incident at any nuclear reactor in the United States.  Under the secondary financial protection system, NEE is subject to retrospective assessments of up to $1.0 billion ($509 million for FPL), plus any applicable taxes, per incident at any nuclear reactor in the United States, payable at a rate not to exceed $152 million ($76 million for FPL) per incident per year.  NEE and FPL are contractually entitled to recover a proportionate share of such assessments from the owners of minority interests in Seabrook, Duane Arnold Energy Center (Duane Arnold) and St. Lucie Unit No. 2, which approximates $15 million, $38 million and $19 million, plus any applicable taxes, per incident, respectively.

NEE participates in a nuclear insurance mutual company that provides $2.75 billion of limited insurance coverage per occurrence per site for property damage, decontamination and premature decommissioning risks at its nuclear plants and a sublimit of $1.5 billion for non-nuclear perils.  The proceeds from such insurance, however, must first be used for reactor stabilization and site decontamination before they can be used for plant repair.  NEE also participates in an insurance program that provides limited coverage for replacement power costs if a nuclear plant is out of service for an extended period of time because of an accident.  In the event of an accident at one of NEE's or another participating insured's nuclear plants, NEE could be assessed up to $175 million ($106 million for FPL), plus any applicable taxes, in retrospective premiums in a policy year.  NEE and FPL are contractually entitled to recover a proportionate share of such assessments from the owners of minority interests in Seabrook, Duane Arnold and St. Lucie Unit No. 2, which approximates $2 million, $5 million and $4 million, plus any applicable taxes, respectively.

Due to the high cost and limited coverage available from third-party insurers, NEE does not have property insurance coverage for a substantial portion of its transmission and distribution property and has no property insurance coverage for FPL FiberNet's fiber-optic cable.  Should FPL's future storm restoration costs exceed the reserve amount established through the issuance of storm-recovery bonds by a VIE in 2007, FPL may recover storm restoration costs, subject to prudence review by the FPSC, either through surcharges approved by the FPSC or through securitization provisions pursuant to Florida law.

In the event of a loss, the amount of insurance available might not be adequate to cover property damage and other expenses incurred.  Uninsured losses and other expenses, to the extent not recovered from customers in the case of FPL or Lone Star, would be borne by NEE and/or FPL and/or their affiliates, as the case may be, and could have a material adverse effect on NEE's and FPL's financial condition, results of operations and liquidity.

Spain Solar Projects - In March 2013 and May 2013, events of default occurred under the project-level financing agreements for the Spain solar projects (project-level financing) as a result of changes of law that occurred in December 2012 and February 2013.  These changes of law negatively affected the projected economics of the projects and caused the project-level financing to be unsupportable by expected future project cash flows.  Under the project-level financing, events of default provide for, among other things, a right by the lenders (which they did not exercise) to accelerate the payment of the project-level debt.  Accordingly, in 2013, the project-level debt and the associated derivative liabilities related to interest rate swaps were classified as current maturities of long-term debt and current derivative liabilities, respectively, on NEE's condensed consolidated balance sheets, and totaled $751 million and $119 million, respectively, as of June 30, 2014 .  In July 2013, the Spanish government published a new law that created a new economic framework for the Spanish renewable energy sector.  Additional regulatory pronouncements from the Spanish government needed to complete and implement the framework were finalized in June 2014.  Based on NEE's initial assessment, the regulatory pronouncements do not indicate a further impairment of the Spain solar projects or a material change to the tariff revenues recorded since July 2013.

As part of a settlement agreement reached on December 20, 2013 between NEECH, NextEra Energy España, S.L. (NEE España), which is the NEER subsidiary in Spain that is the direct shareholder of the project-level subsidiaries, the project-level subsidiaries and the lenders, the future recourse of the lenders under the project-level financing is effectively limited to the letters of credit described below and to the assets of NEE España and the project-level subsidiaries. Under the settlement agreement, the lenders, among other things, irrevocably waived events of default related to changes of law described above, and NEECH affiliates provided for the project-level subsidiaries to post approximately €37 million (approximately $50 million as of June 30, 2014) in letters of credit to fund operating and debt service reserves under the project-level financing and €10 million (approximately $14 million as of June 30, 2014) in a letter of credit to provide support for a performance guarantee under the project-level financing.  NEE España, the project-level subsidiaries and the lenders will continue to seek to restructure the project-level financing; however, there can be no assurance that the project-level financing will be successfully restructured or that future events of default under the project-level financing will not occur.

Legal Proceedings - In November 1999, the Attorney General of the United States, on behalf of the U.S. Environmental Protection Agency (EPA), brought an action in the U.S. District Court for the Northern District of Georgia against Georgia Power Company and other subsidiaries of The Southern Company for certain alleged violations of the Prevention of Significant Deterioration (PSD) provisions and the New Source Performance Standards (NSPS) of the Clean Air Act.  In May 2001, the EPA amended its complaint to allege, among other things, that Georgia Power Company constructed and is continuing to operate Scherer Unit No. 4, in which FPL owns an interest of approximately 76%, without obtaining a PSD permit, without complying with NSPS requirements, and without applying best available control technology for nitrogen oxides, sulfur dioxides and particulate matter as required by the Clean Air Act.  It also alleges that unspecified major modifications have been made at Scherer Unit No. 4 that require its compliance with the aforementioned Clean Air Act provisions.  The EPA seeks injunctive relief requiring the installation of best available control technology and civil penalties.  Under the EPA's civil penalty rules, the EPA could assess up to $25,000 per day for each violation from an unspecified date after June 1, 1975 through January 30, 1997, up to $27,500 per day for each violation from January 31, 1997 through March 15, 2004, up to $32,500 per day for each violation from March 16, 2004 through January 12, 2009 and up to $37,500 per day for each violation thereafter.  Georgia Power Company has answered the amended complaint, asserting that it has complied with all requirements of the Clean Air Act, denying the plaintiff's allegations of liability, denying that the plaintiff is entitled to any of the relief that it seeks and raising various other defenses.  In June 2001, a federal district court stayed discovery and administratively closed the case and the EPA has not yet moved to reopen the case.  In April 2007, the U.S. Supreme Court in a separate unrelated case rejected an argument that a "major modification" occurs at a plant only when there is a resulting increase in the hourly rate of air emissions.  Georgia Power Company has made a similar argument in defense of its case, but has other factual and legal defenses that are unaffected by the U.S. Supreme Court's decision.

In 1995 and 1996, NEE, through an indirect subsidiary, purchased from Adelphia Communications Corporation (Adelphia) 1,091,524 shares of Adelphia common stock and 20,000 shares of Adelphia preferred stock (convertible into 2,358,490 shares of Adelphia common stock) for an aggregate price of approximately $35,900,000.  On January 29, 1999, Adelphia repurchased all of these shares for $149,213,130 in cash.  In June 2004, Adelphia, Adelphia Cablevision, L.L.C. and the Official Committee of Unsecured Creditors of Adelphia filed a complaint against NEE and its indirect subsidiary in the U.S. Bankruptcy Court, Southern District of New York.  The complaint alleges that the repurchase of these shares by Adelphia was a fraudulent transfer, in that at the time of the transaction Adelphia (i) was insolvent or was rendered insolvent, (ii) did not receive reasonably equivalent value in exchange for the cash it paid, and (iii) was engaged or about to engage in a business or transaction for which any property remaining with Adelphia had unreasonably small capital.  The complaint seeks the recovery for the benefit of Adelphia's bankruptcy estate of the cash paid for the repurchased shares, plus interest from January 29, 1999.  NEE filed an answer to the complaint.  NEE believes that the complaint is without merit because, among other reasons, Adelphia will be unable to demonstrate that (i) Adelphia's repurchase of shares from NEE, which repurchase was at the market value for those shares, was not for reasonably equivalent value, (ii) Adelphia was insolvent at the time of the stock repurchase, or (iii) the stock repurchase left Adelphia with unreasonably small capital.  The trial was completed in May 2012 and closing arguments were heard in July 2012.  On May 6, 2014, the U.S. Bankruptcy Court, Southern District of New York, issued its decision after trial, finding, among other things, that Adelphia was not insolvent, or rendered insolvent, at the time of the stock repurchase. The bankruptcy court further ruled that Adelphia was not left with inadequate capital or equitably insolvent at the time of the stock repurchase. The decision after trial represents proposed findings of fact and conclusions of law which are subject to de novo review by the U.S. District Court for the Southern District of New York. Adelphia filed its objections to the decision on June 10, 2014 and NEE filed its response to those objections on July 15, 2014. The issuance of a final order by the district court is pending.

NEE and FPL are vigorously defending, and believe that they or their affiliates have meritorious defenses to, the lawsuits described above.  In addition to the legal proceedings discussed above, NEE and its subsidiaries, including FPL, are involved in other legal and regulatory proceedings, actions and claims in the ordinary course of their businesses.  Generating plants in which subsidiaries of NEE, including FPL, have an ownership interest are also involved in legal and regulatory proceedings, actions and claims, the liabilities from which, if any, would be shared by such subsidiary.  In the event that NEE and FPL, or their affiliates, do not prevail in the lawsuits described above or these other legal and regulatory proceedings, actions and claims, there may be a material adverse effect on their financial statements.  While management is unable to predict with certainty the outcome of the lawsuits described above or these other legal and regulatory proceedings, actions and claims, based on current knowledge it is not expected that their ultimate resolution, individually or collectively, will have a material adverse effect on the financial statements of NEE or FPL.

XML

Document Entity Information Document	6 Months Ended
	Jun. 30, 2014
Entity Information [Line Items]
Entity Registrant Name	NEXTERA ENERGY INC
Entity Central Index Key	0000753308
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	436,357,087
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2014
FPL [Member]
Entity Information [Line Items]
Entity Registrant Name	FLORIDA POWER & LIGHT CO
Entity Central Index Key	0000037634
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	1,000

XML

Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

NEE's reportable segments are FPL, a rate-regulated electric utility, and NEER, a competitive energy business.  NEER's segment information includes an allocation of interest expense from NEECH based on a deemed capital structure of 70% debt and allocated shared service costs.  Corporate and Other represents other business activities, other segments that are not separately reportable and eliminating entries.  NEE's segment information is as follows:

	Three Months Ended June 30,
	2014										2013
	FPL		NEER(a)			Corporate and Other			NEE Consoli- dated		FPL		NEER(a)			Corporate and Other			NEE Consoli- dated
									(millions)
Operating revenues	$	2,889	$	1,036		$	104		$	4,029	$	2,696	$	1,046		$	91		$	3,833
Operating expenses	$	2,107	$	896		$	75		$	3,078	$	1,972	$	806		$	74		$	2,852
Net income (loss)	$	423	$	81	(b)	$	(12	)	$	492	$	391	$	229	(b)	$	(10	)	$	610

	Six Months Ended June 30,
	2014										2013
	FPL		NEER(a)			Corporate and Other			NEE Consoli- dated		FPL		NEER(a)				Corporate and Other		NEE Consoli- dated
									(millions)
Operating revenues	$	5,424	$	2,069		$	210		$	7,703	$	4,885	$	2,062			$	165	$	7,112
Operating expenses	$	4,010	$	1,846		$	157		$	6,013	$	3,618	$	1,955		(c)	$	124	$	5,697
Income (loss) from continuing operations(d)	$	770	$	167	(b)	$	(16	)	$	921	$	679	$	(27	)	(b)	$	—	$	652
Gain from discontinued operations, net of income taxes(d)(e)	$	—	$	—		$	—		$	—	$	—	$	216			$	15	$	231
Net income (loss)	$	770	$	167	(b)	$	(16	)	$	921	$	679	$	189		(b)	$	15	$	883

————————————

(a) Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt.  For this purpose, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual non-utility interest expense is included in Corporate and Other.

(b) Includes NEER's tax benefits related to PTCs and for the six months ended June 30, 2013 also includes after-tax charges of $342 million associated with the impairment of the Spain solar projects.  See Note 4 - Nonrecurring Fair Value Measurements and Note 5.

(c) Includes an impairment charge on NEER's Spain solar projects of $300 million.  See Note 4 - Nonrecurring Fair Value Measurements.

(d) Prior year amounts were restated to conform to current year's presentation.  See Note 4 - Nonrecurring Fair Value Measurements.

(e) See Note 6.

	June 30, 2014								December 31, 2013
	FPL		NEER		Corporate and Other		NEE Consoli- dated		FPL		NEER		Corporate and Other		NEE Consoli- dated
							(millions)
Total assets	$	37,882	$	30,952	$	2,756	$	71,590	$	36,488	$	30,154	$	2,664	$	69,306

XML

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Tax expense (benefit) of unrealized gains/losses on cash flow hedges	$ (3)	$ 25	$ (14)	$ 52
Tax expense (benefit) on cash flow hedges reclassified from AOCI to net income	(3)	9	2	22
Tax expense (benefit) of unrealized gains/losses on available for sale securities still held	22	1	31	27
Tax expense (benefit) on available for sale securities reclassified from AOCI to net income	(3)	(3)	(18)	(7)
Tax expense (benefit) of defined benefit pension and other benefits plans	0	0	3	4
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	8	(11)	0	(16)
Other comprehensive income (loss) related to equity method investee, tax	$ (2)	$ 3	$ (3)	$ 4

XML

Income Taxes

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

NEE's effective income tax rates for the three months ended June 30, 2014 and 2013 were approximately 37% and 26%, respectively.  The rates for both periods reflect the benefit of wind production tax credits (PTCs) of approximately $49 million and $66 million, respectively, related to NEER's wind projects and deferred income tax benefits associated with grants (convertible investment tax credits (ITCs)) under the American Recovery and Reinvestment Act of 2009, as amended (Recovery Act), of approximately $10 million and $21 million, respectively, primarily for certain wind and solar projects expected to be placed in service. 

NEE's effective income tax rates for the six months ended June 30, 2014 and 2013 were approximately 33% and 35%, respectively.   The rates for both periods reflect the benefit of PTCs of approximately $98 million and $125 million, respectively, related to NEER's wind projects and deferred income tax benefits associated with convertible ITCs of approximately $22 million and $33 million, respectively, primarily for certain wind and solar projects expected to be placed in service.

In addition, the rates for the three and six months ended June 30, 2014 reflect a noncash income tax charge of approximately $45 million associated with structuring Canadian assets and for the six months ended June 30, 2013 reflect the establishment of a full valuation allowance during the first quarter of 2013 of approximately $132 million on the deferred tax assets associated with the Spain solar projects.  The valuation allowance primarily related to deferred tax assets created as a result of the $300 million impairment and other related charges ($342 million after-tax) recorded during the first quarter of 2013 (see Note 4 - Nonrecurring Fair Value Measurements). 

NEE recognizes PTCs as wind energy is generated and sold based on a per kilowatt-hour (kWh) rate prescribed in applicable federal and state statutes, which may differ significantly from amounts computed, on a quarterly basis, using an overall effective income tax rate anticipated for the full year.  NEE uses this method of recognizing PTCs for specific reasons, including that PTCs are an integral part of the financial viability of most wind projects and a fundamental component of such wind projects' results of operations.  PTCs, as well as deferred income tax benefits associated with convertible ITCs, can significantly affect NEE's effective income tax rate depending on the amount of pretax income.  The amount of PTCs recognized can be significantly affected by wind generation and by the roll off of PTCs after ten years of production (PTC roll off).

XML

Fair Value Measurements

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The fair value of assets and liabilities are determined using either unadjusted quoted prices in active markets (Level 1) or pricing inputs that are observable (Level 2) whenever that information is available and using unobservable inputs (Level 3) to estimate fair value only when relevant observable inputs are not available.  NEE and FPL use several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those assets and liabilities that are measured at fair value on a recurring basis.  NEE's and FPL's assessment of the significance of any particular input to the fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  Non-performance risk, including the consideration of a credit valuation adjustment, is also considered in the determination of fair value for all assets and liabilities measured at fair value.

Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less.  NEE primarily holds investments in money market funds.  The fair value of these funds is calculated using current market prices.

Special Use Funds and Other Investments - NEE and FPL hold primarily debt and equity securities directly, as well as indirectly through commingled funds.  Substantially all directly held equity securities are valued at their quoted market prices.  For directly held debt securities, multiple prices and price types are obtained from pricing vendors whenever possible, which enables cross-provider validations.  A primary price source is identified based on asset type, class or issue of each security.  Commingled funds, which are similar to mutual funds, are maintained by banks or investment companies and hold certain investments in accordance with a stated set of objectives.  The fair value of commingled funds is primarily derived from the quoted prices in active markets of the underlying securities.  Because the fund shares are offered to a limited group of investors, they are not considered to be traded in an active market.

Derivative Instruments - NEE and FPL measure the fair value of commodity contracts using prices observed on commodities exchanges and in the OTC markets, or through the use of industry-standard valuation techniques, such as option modeling or discounted cash flows techniques, incorporating both observable and unobservable valuation inputs.  The resulting measurements are the best estimate of fair value as represented by the transfer of the asset or liability through an orderly transaction in the marketplace at the measurement date.

Most exchange-traded derivative assets and liabilities are valued directly using unadjusted quoted prices.  For exchange-traded derivative assets and liabilities where the principal market is deemed to be inactive based on average daily volumes and open interest, the measurement is established using settlement prices from the exchanges, and therefore considered to be valued using other observable inputs.

NEE, through its subsidiaries, including FPL, also enters into OTC commodity contract derivatives.  The majority of these contracts are transacted at liquid trading points, and the prices for these contracts are verified using quoted prices in active markets from exchanges, brokers or pricing services for similar contracts.

NEE, through NEER, also enters into full requirements contracts, which, in most cases, meet the definition of derivatives and are measured at fair value.  These contracts typically have one or more inputs that are not observable and are significant to the valuation of the contract.  In addition, certain exchange and non-exchange traded derivative options at NEE have one or more significant inputs that are not observable, and are valued using industry-standard option models.

In all cases where NEE and FPL use significant unobservable inputs for the valuation of a commodity contract, consideration is given to the assumptions that market participants would use in valuing the asset or liability.  The primary input to the valuation models for commodity contracts is the forward commodity curve for the respective instruments.  Other inputs include, but are not limited to, assumptions about market liquidity, volatility, correlation and contract duration as more fully described below in Significant Unobservable Inputs Used in Recurring Fair Value Measurements.  In instances where the reference markets are deemed to be inactive or do not have transactions for a similar contract, the derivative assets and liabilities may be valued using significant other observable inputs and potentially significant unobservable inputs.In such instances, the valuation for these contracts is established using techniques including extrapolation from or interpolation between actively traded contracts, or estimated basis adjustments from liquid trading points.  NEE and FPL regularly evaluate and validate the inputs used to determine fair value by a number of methods, consisting of various market price verification procedures, including the use of pricing services and multiple broker quotes to support the market price of the various commodities.  In all cases where there are assumptions and models used to generate inputs for valuing derivative assets and liabilities, the review and verification of the assumptions, models and changes to the models are undertaken by individuals that are independent of those responsible for estimating fair value.

NEE uses interest rate contracts and foreign currency swaps to mitigate and adjust interest rate and foreign currency exposure related to certain outstanding and forecasted debt issuances and borrowings when deemed appropriate based on market conditions or when required by financing agreements.  NEE estimates the fair value of these derivatives using a discounted cash flows valuation technique based on the net amount of estimated future cash inflows and outflows related to the agreements.

Recurring Fair Value Measurements - NEE's and FPL's financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:

	June 30, 2014
	Level 1		Level 2			Level 3		Netting(a)			Total
	(millions)
Assets:
Cash equivalents:
NEE - equity securities	$	114	$	—		$	—				$	114
Special use funds:(b)
NEE:
Equity securities	$	1,185	$	1,353	(c)	$	—				$	2,538
U.S. Government and municipal bonds	$	619	$	167		$	—				$	786
Corporate debt securities	$	—	$	662		$	—				$	662
Mortgage-backed securities	$	—	$	485		$	—				$	485
Other debt securities	$	25	$	36		$	—				$	61
FPL:
Equity securities	$	279	$	1,182	(c)	$	—				$	1,461
U.S. Government and municipal bonds	$	512	$	150		$	—				$	662
Corporate debt securities	$	—	$	465		$	—				$	465
Mortgage-backed securities	$	—	$	420		$	—				$	420
Other debt securities	$	25	$	22		$	—				$	47
Other investments:
NEE:
Equity securities	$	43	$	1		$	—				$	44
Debt securities	$	20	$	169		$	—				$	189
Derivatives:
NEE:
Commodity contracts	$	2,217	$	2,213		$	1,052	$	(4,082	)	$	1,400	(d)
Interest rate contracts	$	—	$	43		$	—	$	25		$	68	(d)
Foreign currency swaps	$	—	$	—		$	—	$	3		$	3	(d)
FPL - commodity contracts	$	—	$	80		$	4	$	—		$	84	(d)
Liabilities:
Derivatives:
NEE:
Commodity contracts	$	2,174	$	2,169		$	579	$	(3,948	)	$	974	(d)
Interest rate contracts	$	—	$	94		$	119	$	25		$	238	(d)
Foreign currency swaps	$	—	$	32		$	—	$	3		$	35	(d)
FPL - commodity contracts	$	—	$	11		$	1	$	—		$	12	(d)

————————————

(a) Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.  NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the condensed consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively.

(b) Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at the Carrying Amount below.

(c) Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.

(d) See Note 3 - Fair Value of Derivative Instruments for a reconciliation of net derivatives to NEE's and FPL's condensed consolidated balance sheets.

	December 31, 2013
	Level 1		Level 2			Level 3		Netting(a)			Total
	(millions)
Assets:
Cash equivalents:
NEE - equity securities	$	20	$	—		$	—				$	20
Special use funds:(b)
NEE:
Equity securities	$	1,170	$	1,336	(c)	$	—				$	2,506
U.S. Government and municipal bonds	$	647	$	180		$	—				$	827
Corporate debt securities	$	—	$	597		$	—				$	597
Mortgage-backed securities	$	—	$	479		$	—				$	479
Other debt securities	$	16	$	44		$	—				$	60
FPL:
Equity securities	$	291	$	1,176	(c)	$	—				$	1,467
U.S. Government and municipal bonds	$	584	$	154		$	—				$	738
Corporate debt securities	$	—	$	421		$	—				$	421
Mortgage-backed securities	$	—	$	401		$	—				$	401
Other debt securities	$	16	$	30		$	—				$	46
Other investments:
NEE:
Equity securities	$	51	$	—		$	—				$	51
Debt securities	$	11	$	107		$	—				$	118
Derivatives:
NEE:
Commodity contracts	$	1,368	$	2,106		$	1,069	$	(2,972	)	$	1,571	(d)
Interest rate contracts	$	—	$	90		$	—	$	—		$	90	(d)
FPL - commodity contracts	$	—	$	53		$	2	$	(7	)	$	48	(d)
Liabilities:
Derivatives:
NEE:
Commodity contracts	$	1,285	$	1,994		$	354	$	(2,693	)	$	940	(d)
Interest rate contracts	$	—	$	127		$	93	$	—		$	220	(d)
Foreign currency swaps	$	—	$	151		$	—	$	—		$	151	(d)
FPL - commodity contracts	$	—	$	7		$	2	$	(7	)	$	2	(d)

————————————

(a) Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.  NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the condensed consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively.

(b) Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at the Carrying Amount below.

(c) Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.

(d) See Note 3 - Fair Value of Derivative Instruments for a reconciliation of net derivatives to NEE's and FPL's condensed consolidated balance sheets.

Significant Unobservable Inputs Used in Recurring Fair Value Measurements - The valuation of certain commodity contracts requires the use of significant unobservable inputs.  All forward price, implied volatility, implied correlation and interest rate inputs used in the valuation of such contracts are directly based on third-party market data, such as broker quotes and exchange settlements, when that data is available.  If third-party market data is not available, then industry standard methodologies are used to develop inputs that maximize the use of relevant observable inputs and minimize the use of unobservable inputs.  Observable inputs, including some forward prices, implied volatilities and interest rates used for determining fair value are updated daily to reflect the best available market information.  Unobservable inputs which are related to observable inputs, such as illiquid portions of forward price or volatility curves, are updated daily as well, using industry standard techniques such as interpolation and extrapolation, combining observable forward inputs supplemented by historical market and other relevant data.  Other unobservable inputs, such as implied correlations, customer migration rates from full requirements contracts and some implied volatility curves, are modeled using proprietary models based on historical data and industry standard techniques.

All price, volatility, correlation and customer migration inputs used in valuation are subject to validation by the Trading Risk Management group.  The Trading Risk Management group performs a risk management function responsible for assessing credit, market and operational risk impact, reviewing valuation methodology and modeling, confirming transactions, monitoring approval processes and developing and monitoring trading limits.  The Trading Risk Management group is separate from the transacting group.  For markets where independent third-party data is readily available, validation is conducted daily by directly reviewing this market data against inputs utilized by the transacting group, and indirectly by critically reviewing daily risk reports.  For markets where independent third-party data is not readily available, additional analytical reviews are performed on at least a quarterly basis.  These analytical reviews are designed to ensure that all price and volatility curves used for fair valuing transactions are adequately validated each quarter, and are reviewed and approved by the Trading Risk Management group.  In addition, other valuation assumptions such as implied correlations and customer migration rates are reviewed and approved by the Trading Risk Management group on a periodic basis.  Newly created models used in the valuation process are also subject to testing and approval by the Trading Risk Management group prior to use and established models are reviewed annually, or more often as needed, by the Trading Risk Management group.

On a monthly basis, the Exposure Management Committee (EMC), which is comprised of certain members of senior management, meets with representatives from the Trading Risk Management group and the transacting group to discuss NEE's and FPL's energy risk profile and operations, to review risk reports and to discuss fair value issues as necessary.  The EMC develops guidelines required for an appropriate risk management control infrastructure, which includes implementation and monitoring of compliance with Trading Risk Management policy.  The EMC executes its risk management responsibilities through direct oversight and delegation of its responsibilities to the Trading Risk Management group, as well as to other corporate and business unit personnel.

The significant unobservable inputs used in the valuation of NEE's commodity contracts categorized as Level 3 of the fair value hierarchy at June 30, 2014 are as follows:

Transaction Type	Fair Value at June 30, 2014				Valuation Technique(s)	Significant Unobservable Inputs	Range
	Assets		Liabilities
	(millions)
Forward contracts - power	$	518	$	104	Discounted cash flow	Forward price (per MWh)	$8	—	$169
Forward contracts - gas	105		35		Discounted cash flow	Forward price (per MMBtu)	$2	—	$18
Forward contracts - other commodity related	24		40		Discounted cash flow	Forward price (various)	$1	—	$112
Options - power	133		123		Option models	Implied correlations	10%	—	96%
						Implied volatilities	1%	—	431%
Options - gas	65		123		Option models	Implied correlations	10%	—	96%
						Implied volatilities	1%	—	95%
Full requirements and unit contingent contracts	207		154		Discounted cash flow	Forward price (per MWh)	$(11)	—	$219
						Customer migration rate(a)	—%	—	20%
Total	$	1,052	$	579

——————————

(a) Applies only to full requirements contracts.

The sensitivity of NEE's fair value measurements to increases (decreases) in the significant unobservable inputs is as follows:

Significant Unobservable Input	Position	Impact on Fair Value Measurement
Forward price	Purchase power/gas	Increase (decrease)
	Sell power/gas	Decrease (increase)
Implied correlations	Purchase option	Decrease (increase)
	Sell option	Increase (decrease)
Implied volatilities	Purchase option	Increase (decrease)
	Sell option	Decrease (increase)
Customer migration rate	Sell power(a)	Decrease (increase)

————————————

(a)  Assumes the contract is in a gain position.

In addition, the fair value measurement of interest rate swap liabilities related to the solar projects in Spain of approximately $119 million at June 30, 2014 includes a significant credit valuation adjustment.  The credit valuation adjustment, considered an unobservable input, reflects management's assessment of non-performance risk of the subsidiaries related to the solar projects in Spain that are party to the swap agreements.

The reconciliation of changes in the fair value of derivatives that are based on significant unobservable inputs is as follows:

	Three Months Ended June 30,
	2014						2013
	NEE			FPL			NEE			FPL
	(millions)
Fair value of net derivatives based on significant unobservable inputs at March 31	$	460		$	3		$	522		$	2
Realized and unrealized gains (losses):
Included in earnings(a)	(73		)	—			13			—
Included in regulatory assets and liabilities	1			1			(3		)	(3		)
Purchases	10			—			21			—
Settlements	38			(1		)	(23		)	—
Issuances	(75		)	—			(30		)	—
Transfers in(b)	9			—			(114		)	—
Transfers out(b)	(16		)	—			(2		)	—
Fair value of net derivatives based on significant unobservable inputs at June 30	$	354		$	3		$	384		$	(1	)
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)	$	(73	)	$	—		$	12		$	—

————————————

(a) For the three months ended June 30, 2014, realized and unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the three months ended June 30, 2013, realized and unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

(b) Transfers into Level 3 were a result of decreased observability of market data and, in 2013, a significant credit valuation adjustment.  Transfers from Level 3 to Level 2 were a result of increased observability of market data.  NEE's and FPL's policy is to recognize all transfers at the beginning of the reporting period.

(c) For the three months ended June 30, 2014, unrealized losses of approximately $49 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the three months ended June 30, 2013, unrealized gains of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense and the balance is reflected in operating revenues.

	Six Months Ended June 30,
	2014						2013
	NEE			FPL			NEE			FPL
	(millions)
Fair value of net derivatives based on significant unobservable inputs at December 31 of prior year	$	622		$	—		$	566		$	2
Realized and unrealized gains (losses):
Included in earnings(a)	(496		)	—			10			—
Included in regulatory assets and liabilities	5			5			(2		)	(2		)
Purchases	14			—			70			—
Settlements	304			(2		)	(56		)	(1		)
Issuances	(94		)	—			(94		)	—
Transfers in(b)	16			—			(114		)	—
Transfers out(b)	(17		)	—			4			—
Fair value of net derivatives based on significant unobservable inputs at June 30	$	354		$	3		$	384		$	(1	)
The amount of gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)	$	(260	)	$	—		$	40		$	—

————————————

(a) For the six months ended June 30, 2014, realized and unrealized losses of approximately $453 million are reflected in the condensed consolidated statements of income in operating revenues, $41 million in interest expense and the balance is reflected in fuel, purchased power and interchange.  For the six months ended June 30, 2013, realized and unrealized gains (losses) of approximately $11 million are reflected in the condensed consolidated statements of income in interest expense, $1 million in operating revenues and the balance is reflected in fuel, purchased power and interchange.

(b) Transfers into Level 3 were a result of decreased observability of market data and, in 2013, a significant credit valuation adjustment.  Transfers from Level 3 to Level 2 were a result of increased observability of market data.  NEE's and FPL's policy is to recognize all transfers at the beginning of the reporting period.

(c) For the six months ended June 30, 2014, unrealized losses of approximately $219 million are reflected in the condensed consolidated statements of income in operating revenues and the balance is reflected in interest expense.  For the six months ended June 30, 2013, unrealized gains (losses) of approximately $32 million are reflected in the condensed consolidated statements of income in operating revenues, $11 million in interest expense and the balance is reflected in fuel, purchased power and interchange.

Nonrecurring Fair Value Measurements - NEE tests long-lived assets for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.  In February 2013, the Spanish government enacted a new law that made further changes to the economic framework of renewable energy projects including, among other things, changes that negatively affect the projected economics of the 99.8 MW of solar thermal facilities that affiliates of NEER were constructing in Spain (Spain solar projects) (see Note 10 - Spain Solar Projects).  Due to the February 2013 change in law, NEER performed a recoverability analysis, considering, among other things, working with lenders to restructure the financing agreements, abandoning the projects or selling the projects, and concluded that the undiscounted cash flows of the Spain solar projects were less than the carrying value of the projects.  Accordingly, NEER performed a fair value analysis based on the income approach to determine the amount of the impairment.  Based on the fair value analysis, property, plant and equipment with a carrying amount of approximately $800 million were written down to their estimated fair value of $500 million as of March 31, 2013, resulting in an impairment of $300 million (which is recorded as a separate line item in NEE’s condensed consolidated statements of income for the six months ended June 30, 2013) and other related charges ($342 million after-tax, see Note 5).

The estimate of the fair value was based on the discounted cash flows which were determined using a market participant view of the Spain solar projects upon completion and final commissioning of the projects.  As part of the valuation, NEER used observable inputs where available, including the revised renewable energy pricing under the February 2013 change in law.  Significant unobservable inputs (Level 3), including forecasts of generation, estimates of tariff escalation rates and estimated costs of debt and equity capital, were also used in the estimation of fair value.  In addition, NEER made certain assumptions regarding the projected capital and maintenance expenditures based on the estimated costs to complete the Spain solar projects and ongoing capital and maintenance expenditures.  An increase in the revenue and generation forecasts, a decrease in the projected capital and maintenance expenditures or a decrease in the weighted-average cost of capital each would result in an increased fair market value.  Changes in the opposite direction of those unobservable inputs would result in a decreased fair market value.  See Note 10 - Spain Solar Projects for a discussion of additional developments that could potentially impact the Spain solar projects.

In March 2013, NEER initiated a plan and received internal authorization to pursue the sale of its ownership interests in Maine fossil.  In connection with the decision to sell Maine fossil, a loss of approximately $67 million ($43 million after-tax) was originally reflected in net gain from discontinued operations, net of income taxes in NEE's condensed consolidated statements of income for the six months ended June 30, 2013.  The fair value measurement (Level 3) was based on the estimated sales price less the estimated costs to sell.  The estimated sales price was estimated using an income approach based primarily on capacity revenue forecasts.  In March 2014, NEER decided not to pursue the sale of Maine fossil due to the divergence between the achievable sales price and management's view of the assets' value, which increased as a result of significant market changes. Accordingly, the Maine fossil assets were written-up to management's current estimate of fair value resulting in a gain of approximately $21 million ($12 million after-tax). The fair value measurement (Level 3) was estimated using an income approach based primarily on the updated capacity revenue forecasts. Based on NEER's decision to retain Maine fossil, the $67 million loss recorded during the six months ended June 30, 2013 was reclassified from discontinued operations to income from continuing operations and together with the $21 million gain recorded during the six months ended June 30, 2014 are included as a separate line item in NEE's condensed consolidated statements of income. The carrying amount of the assets and liabilities and the operations of Maine fossil for all periods presented were not material.

Fair Value of Financial Instruments Recorded at the Carrying Amount - The carrying amounts of cash equivalents, short-term debt and commercial paper approximate their fair values.  The carrying amounts and estimated fair values of other financial instruments, excluding those recorded at fair value and disclosed above in Recurring Fair Value Measurements, are as follows:

	June 30, 2014					December 31, 2013
	Carrying Amount		Estimated Fair Value			Carrying Amount		Estimated Fair Value
	(millions)
NEE:
Special use funds(a)	$	502	$	502		$	311	$	311
Other investments - primarily notes receivable	$	522	$	689	(b)	$	531	$	627	(b)
Long-term debt, including current maturities	$	28,328	$	30,448	(c)	$	27,728	$	28,612	(c)
FPL:
Special use funds(a)	$	379	$	379		$	200	$	200
Long-term debt, including current maturities	$	9,000	$	10,253	(c)	$	8,829	$	9,451	(c)

————————————

(a) Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis.

(b) Primarily classified as held to maturity.  Fair values are primarily estimated using a discounted cash flow valuation technique based on certain observable yield curves and indices considering the credit profile of the borrower (Level 3).  Notes receivable bear interest primarily at fixed rates and mature by 2029.  Notes receivable are considered impaired and placed in non-accrual status when it becomes probable that all amounts due cannot be collected in accordance with the contractual terms of the agreement.  The assessment to place notes receivable in non-accrual status considers various credit indicators, such as credit ratings and market-related information.  As of June 30, 2014 and December 31, 2013, NEE had no notes receivable reported in non-accrual status.

(c) As of June 30, 2014 and December 31, 2013, for NEE, $19,196 million and $17,921 million, respectively, is estimated using quoted market prices for the same or similar issues (Level 2); the balance is estimated using a discounted cash flow valuation technique, considering the current credit spread of the debtor (Level 3).  For FPL, estimated using quoted market prices for the same or similar issues (Level 2).

Special Use Funds - The special use funds noted above and those carried at fair value (see Recurring Fair Value Measurements) consist of FPL's storm fund assets of approximately $75 million and NEE's and FPL's nuclear decommissioning fund assets of $4,959 million and $3,359 million, respectively, at June 30, 2014.  The investments held in the special use funds consist of equity and debt securities which are primarily classified as available for sale and carried at estimated fair value.  The amortized cost of debt and equity securities is $1,934 million and $1,333 million, respectively, at June 30, 2014 and $1,954 million and $1,384 million, respectively, at December 31, 2013 ($1,545 million and $618 million, respectively, at June 30, 2014 and $1,595 million and $694 million, respectively, at December 31, 2013 for FPL). For FPL's special use funds, consistent with regulatory treatment, changes in fair value, including any other than temporary impairment losses, result in a corresponding adjustment to the related regulatory liability accounts.  For NEE's non-rate regulated operations, changes in fair value result in a corresponding adjustment to OCI, except for unrealized losses associated with marketable securities considered to be other than temporary, including any credit losses, which are recognized as other than temporary impairment losses on securities held in nuclear decommissioning funds and included in other - net in NEE's condensed consolidated statements of income.  Debt securities included in the nuclear decommissioning funds have a weighted-average maturity at June 30, 2014 of approximately seven years at both NEE and FPL.  FPL's storm fund primarily consists of debt securities with a weighted-average maturity at June 30, 2014 of approximately three years.  The cost of securities sold is determined using the specific identification method.

Realized gains and losses and proceeds from the sale or maturity of available for sale securities are as follows:

	NEE				FPL				NEE				FPL
	Three Months Ended   June 30,				Three Months Ended   June 30,				Six Months Ended   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013		2014		2013		2014		2013
	(millions)
Realized gains	$	71	$	21	$	56	$	8	$	148	$	63	$	88	$	31
Realized losses	$	83	$	13	$	76	$	8	$	105	$	43	$	93	$	30
Proceeds from sale or maturity of securities	$	813	$	858	$	637	$	669	$	2,214	$	1,782	$	1,799	$	1,354

The unrealized gains on available for sale securities are as follows:

	NEE				FPL
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
	(millions)
Equity securities	$	1,200	$	1,125	$	838	$	777
Debt securities	$	64	$	42	$	53	$	36

The unrealized losses on available for sale debt securities and the fair value of available for sale debt securities in an unrealized loss position are as follows:

	NEE				FPL
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
	(millions)
Unrealized losses(a)	$	5	$	32	$	4	$	25
Fair value	$	305	$	1,069	$	231	$	844

————————————

(a) Unrealized losses on available for sale debt securities for securities in an unrealized loss position for greater than twelve months at June 30, 2014 and December 31, 2013 were not material to NEE or FPL.

Regulations issued by the Federal Energy Regulatory Commission (FERC) and the NRC provide general risk management guidelines to protect nuclear decommissioning funds and to allow such funds to earn a reasonable return.  The FERC regulations prohibit, among other investments, investments in any securities of NEE or its subsidiaries, affiliates or associates, excluding investments tied to market indices or mutual funds.  Similar restrictions applicable to the decommissioning funds for NEER's nuclear plants are included in the NRC operating licenses for those facilities or in NRC regulations applicable to NRC licensees not in cost-of-service environments.  With respect to the decommissioning fund for NEER's Seabrook Station (Seabrook), decommissioning fund contributions and withdrawals are also regulated by the Nuclear Decommissioning Financing Committee pursuant to New Hampshire law.

The nuclear decommissioning reserve funds are managed by investment managers who must comply with the guidelines of NEE and FPL and the rules of the applicable regulatory authorities.  The funds' assets are invested giving consideration to taxes, liquidity, risk, diversification and other prudent investment objectives.

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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

	June 30, 2014
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	5,482	$	4,922	$	1,400	$	974
Interest rate contracts	43		94		—		119		68		238
Foreign currency swaps	—		32		—		—		3		35
Total fair values	$	43	$	126	$	5,482	$	5,041	$	1,471	$	1,247
FPL:
Commodity contracts	$	—	$	—	$	84	$	12	$	84	$	12
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	577
Noncurrent derivative assets(b)									894
Current derivative liabilities(c)											$	686
Noncurrent derivative liabilities(d)											561
Total derivatives									$	1,471	$	1,247
Net fair value by FPL balance sheet line item:
Current other assets									$	81
Noncurrent other assets									3
Current other liabilities											$	1
Noncurrent other liabilities											11
Total derivatives									$	84	$	12

______________________

(a) Reflects the netting of approximately $81 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $68 million in margin cash collateral received from counterparties.

(c) Reflects the netting of approximately $1 million in margin cash collateral provided to counterparties.

(d) Reflects the netting of approximately $14 million in margin cash collateral provided to counterparties.

	December 31, 2013
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	4,543	$	3,633	$	1,571	$	940
Interest rate contracts	89		127		1		93		90		220
Foreign currency swaps	—		50		—		101		—		151
Total fair values	$	89	$	177	$	4,544	$	3,827	$	1,661	$	1,311
FPL:
Commodity contracts	$	—	$	—	$	55	$	9	$	48	$	2
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	498
Noncurrent derivative assets(b)									1,163
Current derivative liabilities											$	838
Noncurrent derivative liabilities											473
Total derivatives									$	1,661	$	1,311
Net fair value by FPL balance sheet line item:
Current other assets									$	48
Current other liabilities											$	1
Noncurrent other liabilities											1
Total derivatives									$	48	$	2

______________________

(a) Reflects the netting of approximately $181 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $98 million in margin cash collateral received from counterparties.

Net notional volumes

NEE and FPL had derivative commodity contracts for the following net notional volumes:

	June 30, 2014					December 31, 2013
Commodity Type	NEE			FPL		NEE			FPL
	(millions)
Power	(94	)	MWh(a)	—		(276	)	MWh(a)	—
Natural gas	1,422		MMBtu(b)	884	MMBtu(b)	1,140		MMBtu(b)	674	MMBtu(b)
Oil	(9	)	barrels	—		(10	)	barrels	—

————————————

(a) Megawatt-hours

(b) One million British thermal units

Cash Flow Hedging [Member]

Derivative [Line Items]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

Gains (losses) related to NEE's cash flow hedges are recorded in NEE's condensed consolidated financial statements (none at FPL) as follows:

	Three Months Ended June 30,
	2014										2013
	Interest Rate Contracts				Foreign Currency Swaps			Total			Interest Rate Contracts				Foreign Currency Swaps				Total
	(millions)
Gains (losses) recognized in OCI	$	(27	)		$	17		$	(10	)	$	65			$	(4	)		$	61
Gains (losses) reclassified from AOCI to net income	$	(16	)	(a)	$	23	(b)	$	7		$	(15	)	(a)	$	(12	)	(b)	$	(27	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $1 million is included in interest expense and the balance is included in other - net.

	Six Months Ended June 30,
	2014										2013
	Interest Rate Contracts				Foreign Currency Swaps			Total				Interest Rate Contracts				Foreign Currency Swaps				Total
	(millions)
Gains (losses) recognized in OCI	$	(54	)		$	15		$	(39	)		$	165			$	(12	)		$	153
Gains (losses) reclassified from AOCI to net income	$	(32	)	(a)	$	25	(b)	$	(7	)		$	(30	)	(a)	$	(31	)	(b)	$	(61	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $2 million is included in interest expense and the balance is included in other - net.

Not Designated as Hedging Instrument [Member]

Derivative [Line Items]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

Gains (losses) related to NEE's derivatives not designated as hedging instruments are recorded in NEE's condensed consolidated statements of income as follows:

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Commodity contracts:(a)
Operating revenues	$	(153	)	$	15		$	(425	)	$	(27	)
Fuel, purchased power and interchange	—			8			(4		)	11
Foreign currency swap - other - net	(6		)	(20		)	(1		)	(52		)
Interest rate contracts - interest expense	(8		)	11			(35		)	11
Total	$	(167	)	$	14		$	(465	)	$	(57	)

————————————

(a) For the three and six months ended June 30, 2014, FPL recorded approximately $11 million and $147 million of gains, respectively, related to commodity contracts as regulatory liabilities on its condensed consolidated balance sheets.  For the three and six months ended June 30, 2013, FPL recorded approximately $149 million and $5 million of losses, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.  

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Summarized Financial Information of Capital Holdings

6 Months Ended

Jun. 30, 2014

Summarized Financial Information [Abstract]

Summarized Financial Information of Capital Holdings

12.  Summarized Financial Information of NEECH

NEECH, a 100% owned subsidiary of NEE, provides funding for, and holds ownership interests in, NEE's operating subsidiaries other than FPL.  Most of NEECH's debt, including its debentures, and payment guarantees are fully and unconditionally guaranteed by NEE.  Condensed consolidating financial information is as follows:

Condensed Consolidating Statements of Income

	Three Months Ended June 30,
	2014												2013
	NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
Operating revenues	$	—		$	1,143		$	2,886		$	4,029		$	—		$	1,140		$	2,693		$	3,833
Operating expenses	(4		)	(969		)	(2,105		)	(3,078		)	(4		)	(878		)	(1,970		)	(2,852		)
Interest expense	(2		)	(194		)	(109		)	(305		)	(2		)	(161		)	(103		)	(266		)
Equity in earnings of subsidiaries	507			—			(507		)	—			623			—			(623		)	—
Other income (deductions) - net	1			130			7			138			(1		)	94			13			106
Income before income taxes	502			110			172			784			616			195			10			821
Income tax expense (benefit)	10			26			256			292			6			(36		)	241			211
Net income (loss)	$	492		$	84		$	(84	)	$	492		$	610		$	231		$	(231	)	$	610

	Six Months Ended June 30,
	2014												2013(b)
	NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guarantor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
Operating revenues	$	—		$	2,286		$	5,417		$	7,703		$	—		$	2,234		$	4,878		$	7,112
Operating expenses	(8		)	(2,001		)	(4,004		)	(6,013		)	(7		)	(2,078		)	(3,612		)	(5,697		)
Interest expense	(3		)	(410		)	(211		)	(624		)	(5		)	(331		)	(201		)	(537		)
Equity in earnings of subsidiaries	942			—			(942		)	—			872			—			(872		)	—
Other income (deductions) - net	—			278			21			299			1			100			28			129
Income (loss) from continuing operations before income taxes	931			153			281			1,365			861			(75		)	221			1,007
Income tax expense (benefit)	10			(19		)	453			444			(7		)	(52		)	414			355
Income (loss) from continuing operations	921			172			(172		)	921			868			(23		)	(193		)	652
Gain from discontinued operations, net of income taxes	—			—			—			—			15			216			—			231
Net income (loss)	$	921		$	172		$	(172	)	$	921		$	883		$	193		$	(193	)	$	883

————————————

(a)  Represents FPL and consolidating adjustments.

(b)  Certain amounts were restated to conform to current year's presentation.  See Note 4 - Nonrecurring Fair Value Measurements.

Condensed Consolidating Statements of Comprehensive Income

	Three Months Ended June 30,
	2014									2013
	NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss)	$	530	$	122	$	(122	)	$	530	$	644	$	265	$	(265	)	$	644

	Six Months Ended June 30,
	2014									2013
	NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss)	$	924	$	170	$	(170	)	$	924	$	1,036	$	339	$	(339	)	$	1,036

————————————

(a) Represents FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets

	June 30, 2014												December 31, 2013
	NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	$	32		$	30,299		$	41,102		$	71,433		$	31		$	29,511		$	39,906		$	69,448
Less accumulated depreciation and amortization	(12		)	(6,164		)	(11,226		)	(17,402		)	(10		)	(5,774		)	(10,944		)	(16,728		)
Total property, plant and equipment - net	20			24,135			29,876			54,031			21			23,737			28,962			52,720
CURRENT ASSETS
Cash and cash equivalents	19			545			58			622			—			418			20			438
Receivables	233			1,623			436			2,292			78			1,542			669			2,289
Other	60			1,854			1,271			3,185			6			1,814			1,295			3,115
Total current assets	312			4,022			1,765			6,099			84			3,774			1,984			5,842
OTHER ASSETS
Investment in subsidiaries	18,253			—			(18,253		)	—			17,910			—			(17,910		)	—
Other	750			5,509			5,201			11,460			694			5,129			4,921			10,744
Total other assets	19,003			5,509			(13,052		)	11,460			18,604			5,129			(12,989		)	10,744
TOTAL ASSETS	$	19,335		$	33,666		$	18,589		$	71,590		$	18,709		$	32,640		$	17,957		$	69,306
CAPITALIZATION
Common shareholders' equity	$	18,429		$	4,800		$	(4,800	)	$	18,429		$	18,040		$	4,816		$	(4,816	)	$	18,040
Long-term debt	—			16,107			8,942			25,049			—			15,496			8,473			23,969
Total capitalization	18,429			20,907			4,142			43,478			18,040			20,312			3,657			42,009
CURRENT LIABILITIES
Debt due within one year	—			4,392			509			4,901			—			3,896			561			4,457
Accounts payable	1			731			743			1,475			—			589			611			1,200
Other	417			1,937			960			3,314			199			2,203			1,130			3,532
Total current liabilities	418			7,060			2,212			9,690			199			6,688			2,302			9,189
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	—			586			1,319			1,905			—			565			1,285			1,850
Deferred income taxes	234			1,822			6,171			8,227			166			1,963			6,015			8,144
Other	254			3,291			4,745			8,290			304			3,112			4,698			8,114
Total other liabilities and deferred credits	488			5,699			12,235			18,422			470			5,640			11,998			18,108
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	19,335		$	33,666		$	18,589		$	71,590		$	18,709		$	32,640		$	17,957		$	69,306

————————————

(a) Represents FPL and consolidating adjustments.

Condensed Consolidating Statements of Cash Flows

	Six Months Ended June 30,
	2014												2013
	NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other(a)			NEE Consoli- dated
										(millions)
NET CASH PROVIDED BY OPERATING ACTIVITIES	$	754		$	659		$	1,035		$	2,448		$	598		$	657		$	995		$	2,250
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases	—			(1,562		)	(1,677		)	(3,239		)	—			(1,647		)	(1,507		)	(3,154		)
Capital contribution to FPL	(100		)	—			100			—			—			—			—			—
Cash grants under the Recovery Act	—			306			—			306			—			170			—			170
Sale of independent power investments	—			273			—			273			—			—			—			—
Change in loan proceeds restricted for construction	—			(366		)	—			(366		)	—			207			—			207
Other - net	7			(49		)	(37		)	(79		)	—			26			(34		)	(8		)
Net cash used in investing activities	(93		)	(1,398		)	(1,614		)	(3,105		)	—			(1,244		)	(1,541		)	(2,785		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	—			2,229			500			2,729			—			2,364			498			2,862
Retirements of long-term debt	—			(1,946		)	(329		)	(2,275		)	—			(998		)	(427		)	(1,425		)
Proceeds from sale of differential membership interests	—			39			—			39			—			201			—			201
Net change in short-term debt	—			678			247			925			—			(611		)	241			(370		)
Dividends on common stock	(630		)	—			—			(630		)	(557		)	—			—			(557		)
Other - net	(12		)	(134		)	199			53			(43		)	(275		)	224			(94		)
Net cash provided by (used in) financing activities	(642		)	866			617			841			(600		)	681			536			617
Net increase (decrease) in cash and cash equivalents	19			127			38			184			(2		)	94			(10		)	82
Cash and cash equivalents at beginning of period	—			418			20			438			2			287			40			329
Cash and cash equivalents at end of period	$	19		$	545		$	58		$	622		$	—		$	381		$	30		$	411

————————————

(a) Represents FPL and consolidating adjustments.

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Common Shareholders' Equity

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Common Shareholders' Equity

Common Shareholders' Equity

Earnings Per Share - The reconciliation of NEE's basic and diluted earnings per share of common stock from continuing operations is as follows:

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013
	(millions, except per share amounts)
Numerator - income from continuing operations	$	492	$	610	$	921	$	652
Denominator:
Weighted-average number of common shares outstanding - basic	434.1		421.8		433.8		421.4
Equity units, performance share awards, options, forward sale agreement and restricted stock(a)	6.0		3.0		5.5		2.9
Weighted-average number of common shares outstanding - assuming dilution	440.1		424.8		439.3		424.3
Earnings per share of common stock from continuing operations:
Basic	$	1.13	$	1.45	$	2.12	$	1.54
Assuming dilution	$	1.12	$	1.44	$	2.10	$	1.54

————————————

(a) Calculated using the treasury stock method.  Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.

Common shares issuable pursuant to stock options and performance shares awards and restricted stock which were not included in the denominator above due to their antidilutive effect were approximately 0.2 million and 0.3 million for the three months ended June 30, 2014 and 2013, respectively, and 0.2 million and 0.3 million for the six months ended June 30,2014 and 2013, respectively.

Accumulated Other Comprehensive Income (Loss) - The components of AOCI, net of tax, are as follows:

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Three Months Ended June 30, 2014
Balances, March 31, 2014	$	(124	)		$	185			$	28	$	(50	)	$	(18	)	$	21
Other comprehensive income (loss) before reclassifications	(7		)		40				—		17			(3		)	47
Amounts reclassified from AOCI	(4		)	(a)	(5		)	(b)	—		—			—			(9		)
Net other comprehensive income (loss)	(11		)		35				—		17			(3		)	38
Balances, June 30, 2014	$	(135	)		$	220			$	28	$	(33	)	$	(21	)	$	59

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Three Months Ended June 30, 2013
Balances, March 31, 2013	$	(180	)		$	130			$	(67	)	$	3		$	(22	)	$	(136	)
Other comprehensive income (loss) before reclassifications	36				2				—			(23		)	5			20
Amounts reclassified from AOCI	18			(a)	(4		)	(b)	—			—			—			14
Net other comprehensive income (loss)	54				(2		)		—			(23		)	5			34
Balances, June 30, 2013	$	(126	)		$	128			$	(67	)	$	(20	)	$	(17	)	$	(102	)

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Six Months Ended June 30, 2014
Balances, December 31, 2013	$	(115	)		$	197			$	23	$	(33	)	$	(16	)	$	56
Other comprehensive income (loss) before reclassifications	(25		)		53				4		—			(5		)	27
Amounts reclassified from AOCI	5			(a)	(30		)	(b)	1		—			—			(24		)
Net other comprehensive income (loss)	(20		)		23				5		—			(5		)	3
Balances, June 30, 2014	$	(135	)		$	220			$	28	$	(33	)	$	(21	)	$	59

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges				Net Unrealized Gains (Losses) on Available for Sale Securities				Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investee			Total
	(millions)
Six Months Ended June 30, 2013
Balances, December 31, 2012	$	(266	)		$	96			$	(74	)	$	12		$	(23	)	$	(255	)
Other comprehensive income (loss) before reclassifications	101				42				6			(32		)	6			123
Amounts reclassified from AOCI	39			(a)	(10		)	(b)	1			—			—			30
Net other comprehensive income (loss)	140				32				7			(32		)	6			153
Balances, June 30, 2013	$	(126	)		$	128			$	(67	)	$	(20	)	$	(17	)	$	(102	)

————————————

(a) Reclassified to interest expense and other - net in NEE's condensed consolidated statements of income.  See Note 3 - Income Statement Impact of Derivative Instruments.

(b) Reclassified to gains on disposal of assets - net in NEE's condensed consolidated statements of income.

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Discontinued Operations Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

In March 2013, a subsidiary of NEER completed the sale of its ownership interest in a portfolio of hydropower generation plants and related assets (hydro sale) with a total generating capacity of 351 MW located in Maine and New Hampshire.  The sales price primarily included the assumption by the buyer of $700 million in related debt.In connection with the sale, a gain of approximately $372 million ($231 million after-tax) is reflected in gain from discontinued operations, net of income taxes in NEE's condensed consolidated statements of income for the six months ended June 30, 2013.  The operations of the hydropower generation plants, exclusive of the gain, were not material to NEE's condensed consolidated statements of income for the six months ended June 30, 2013.

See Note 4 - Nonrecurring Fair Value Measurements for a discussion of the decision not to pursue the sale of Maine fossil and the related financial statement impacts.

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Variable Interest Entities (VIEs)

6 Months Ended

Jun. 30, 2014

Variable Interest Entities [Abstract]

Variable Interest Entities (VIEs)

Variable Interest Entities (VIEs)

As of June 30, 2014, NEE has fourteen VIEs which it consolidates and has interests in certain other VIEs which it does not consolidate.

FPL - FPL is considered the primary beneficiary of, and therefore consolidates, a VIE that is a wholly-owned bankruptcy remote special purpose subsidiary that it formed in 2007 for the sole purpose of issuing storm-recovery bonds pursuant to the securitization provisions of the Florida Statutes and a financing order of the FPSC.  FPL is considered the primary beneficiary because FPL has the power to direct the significant activities of the VIE, and its equity investment, which is subordinate to the bondholder's interest in the VIE, is at risk.  Storm restoration costs incurred by FPL during 2005 and 2004 exceeded the amount in FPL's funded storm and property insurance reserve, resulting in a storm reserve deficiency.  In 2007, the VIE issued $652 million aggregate principal amount of senior secured bonds (storm-recovery bonds), primarily for the after-tax equivalent of the total of FPL's unrecovered balance of the 2004 storm restoration costs, the 2005 storm restoration costs and to reestablish FPL's storm and property insurance reserve.  In connection with this financing, net proceeds, after debt issuance costs, to the VIE (approximately $644 million) were used to acquire the storm-recovery property, which includes the right to impose, collect and receive a storm-recovery charge from all customers receiving electric transmission or distribution service from FPL under rate schedules approved by the FPSC or under special contracts, certain other rights and interests that arise under the financing order issued by the FPSC and certain other collateral pledged by the VIE that issued the bonds.  The storm-recovery bonds are payable only from and are secured by the storm-recovery property.  The bondholders have no recourse to the general credit of FPL.  The assets of the VIE were approximately $297 million and $324 million at June 30, 2014 and December 31, 2013, respectively, and consisted primarily of storm-recovery property, which are included in securitized storm-recovery costs on NEE's and FPL's condensed consolidated balance sheets.  The liabilities of the VIE were approximately $365 million and $394 million at June 30, 2014 and December 31, 2013, respectively, and consisted primarily of storm-recovery bonds, which are included in long-term debt on NEE's and FPL's condensed consolidated balance sheets.

FPL identified a potential VIE, which is considered a qualifying facility as defined by the Public Utility Regulatory Policies Act of 1978, as amended (PURPA).  PURPA requires utilities, such as FPL, to purchase the electricity output of a qualifying facility.  FPL entered into a purchased power agreement effective in 1994 with this 250 MW coal-fired qualifying facility to purchase substantially all of the facility's capacity and electrical output over a substantial portion of its estimated useful life.  FPL absorbs a portion of the facility's variability related to changes in the market price of coal through the price it pays per MWh (energy payment).  After making exhaustive efforts, FPL was unable to obtain the information from the facility necessary to determine whether the facility is a VIE or whether FPL is the primary beneficiary of the facility.  The purchased power agreement with the facility contains no provision which legally obligates the facility to release this information to FPL.  The energy payments paid by FPL will fluctuate as coal prices change.  This fluctuation does not expose FPL to losses since the energy payments paid by FPL to the facility are recovered through the fuel clause as approved by the FPSC.  Notwithstanding the fact that FPL's energy payments are recovered through the fuel clause, if the facility was determined to be a VIE, the absorption of some of the facility's fuel price variability might cause FPL to be considered the primary beneficiary.  During the three months ended June 30, 2014 and 2013, FPL purchased 246,544 MWh and 202,661 MWh, respectively, from the facility at a total cost of approximately $40 million and $38 million, respectively. During the six months ended June 30, 2014 and 2013, FPL purchased 375,484 MWh and 281,871 MWh, respectively, from the facility at a total cost of approximately $76 million and $73 million, respectively.

Additionally, FPL entered into a purchased power agreement effective in 1995 with a 330 MW coal-fired qualifying facility to purchase substantially all of the facility's electrical output over a substantial portion of its estimated useful life.  The facility is considered a VIE because FPL absorbs a portion of the facility’s variability related to changes in the market price of coal through the energy payment.  Since FPL does not control the most significant activities of the facility, including operations and maintenance, FPL is not the primary beneficiary and does not consolidate this VIE.  The energy payments paid by FPL will fluctuate as coal prices change.  This fluctuation does not expose FPL to losses since the energy payments paid by FPL to the facility are recovered through the fuel clause as approved by the FPSC.

NEER - NEE consolidates thirteen NEER VIEs.  NEER is considered the primary beneficiary of these VIEs since NEER controls the most significant activities of these VIEs, including operations and maintenance, and through its 100% equity ownership has the obligation to absorb expected losses of these VIEs.

A NEER VIE consolidates two entities which own and operate natural gas/oil electric generating facilities with the capability of producing 110 MW.  This VIE sells its electric output under power sales contracts to a third party, with expiration dates in 2018 and 2020.  The power sales contracts provide the offtaker the ability to dispatch the facilities and require the offtaker to absorb the cost of fuel.  This VIE uses third-party debt and equity to finance its operations.  The debt is secured by liens against the generating facilities and the other assets of these entities.  The debt holders have no recourse to the general credit of NEER for the repayment of debt.  The assets and liabilities of the VIE were approximately $87 million and $61 million, respectively, at June 30, 2014 and $85 million and $63 million, respectively, at December 31, 2013, and consisted primarily of property, plant and equipment and long-term debt.

The other twelve NEER VIEs consolidate several entities which own and operate wind electric generating facilities with the capability of producing a total of 3,541 MW.  Ten of these VIEs sell their electric output under power sales contracts to third parties with expiration dates ranging from 2018 through 2038; the other two VIEs sell their electric output in the spot market.  The VIEs use third-party debt and/or equity to finance their operations.  Certain investors that hold no equity interest in the VIEs hold differential membership interests, which give them the right to receive a portion of the economic attributes of the generating facilities, including certain tax attributes.  The debt is secured by liens against the generating facilities and the other assets of these entities or by pledges of NEER's ownership interest in these entities.  The debt holders have no recourse to the general credit of NEER for the repayment of debt.  The assets and liabilities of these VIEs totaled approximately $5.2 billion and $3.1 billion, respectively, at June 30, 2014 and $5.3 billion and $3.3 billion, respectively, at December 31, 2013.  At June 30, 2014 and December 31, 2013, the assets and liabilities of the VIEs consisted primarily of property, plant and equipment, deferral related to differential membership interests and long-term debt.

Other - As of June 30, 2014 and December 31, 2013, several NEE subsidiaries have investments totaling approximately $603 million ($491 million at FPL) and $668 million ($505 million at FPL), respectively, in certain special purpose entities, which consisted primarily of investments in mortgage-backed securities.  These investments are included in special use funds and other investments on NEE's condensed consolidated balance sheets and in special use funds on FPL's condensed consolidated balance sheets.  As of June 30, 2014, NEE subsidiaries are not the primary beneficiary and therefore do not consolidate any of these entities because they do not control any of the ongoing activities of these entities, were not involved in the initial design of these entities and do not have a controlling financial interest in these entities.

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Debt

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Debt

Debt

Significant long-term debt issuances and borrowings by subsidiaries of NEE during the six months ended June 30, 2014 were as follows:

Date Issued	Company	Debt Issuances/Borrowings	Interest Rate			Principal Amount		Maturity Date
						(millions)
January - June 2014	NEER subsidiary	Canadian revolving credit agreements	Variable		(a)	$	492	Various
January 2014	NEER subsidiary	Senior secured limited-recourse term loan	Variable		(a)	$	44	2019
March 2014	NEECH	Debentures	2.700	%	(b)	$	350	2019
May 2014	FPL	First mortgage bonds	3.25	%		$	500	2024
June 2014	NEECH	Debentures	2.40	%	(b)	$	350	2019
June 2014	NEER subsidiary	Senior secured limited-recourse notes	5.60	%		$	280	2038
June 2014	NEER subsidiary	Canadian senior secured limited-recourse term loan	Variable		(a)(b)	$	157	2032
June 2014	NEECH	Japanese yen denominated term loan	Variable		(a)(b)(c)	$	540	2017

————————————

(a) Variable rate is based on an underlying index plus a margin.

(b) Interest rate swap agreements have been entered into with respect to these issuances.  See Note 3.

(c) Cross currency basis swap agreements were entered into with respect to both interest and principal payments on this loan.

In July 2014, Lone Star Transmission, LLC (Lone Star), an indirect wholly-owned subsidiary of NEECH, issued $360 million in aggregate principal amount of senior secured notes with interest rates ranging from 2.45% to 4.42%.  The maturity dates of the notes range from 2021 to 2044.

In July 2014, an indirect wholly-owned subsidiary of NEECH, which conducts a portion of the fiber-optic telecommunications business, entered into and borrowed $400 million under a variable rate senior secured limited-recourse term loan agreement maturing in 2019. An interest rate swap agreement was entered into with respect to this borrowing.

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Derivative Instruments (Income Statement Disclosure) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (7)		$ 27		$ 7		$ 61
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	(10)		61		(39)		153
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(167)		14		(465)		(57)
Gains (losses) on commodity contracts, recorded as regulatory assets and or liabilities on the balance sheet due to regulatory treatment	11		(149)		147		(5)
Commodity Contract [Member] | Gains (losses) included in operating revenues [Member]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(153)		15		(425)		(27)
Commodity Contract [Member] | Gains (losses) included in fuel, purchased power and interchange [Member]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0		8		(4)		11
Interest Rate Contract [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	16	[1]	15	[1]	32	[1]	30	[1]
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	(27)		65		(54)		165
Interest Rate Contract [Member] | Gain Loss Included In Interest Expense Member
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(8)		11		(35)		11
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(23)	[2]	12	[2]	(25)	[3]	31	[3]
Effect of Cash Flow Hedges on Results of Operations [Abstract]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	17		(4)		15		(12)
Foreign Exchange Contract [Member] | Gains (losses) included in Other - net [Member]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(6)		(20)		(1)		(52)
Fair Value Hedging [Member]
Derivative [Line Items]
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge	15		(48)		19		(57)
Cash Flow Hedging [Member] | Currency Swap [Member] | Gains (losses) included in interest expense [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 1		$ 1		$ 2		$ 2

[1] Included in interest expense.

[2] Loss of approximately $1 million is included in interest expense and the balance is included in other - net.

[3] Loss of approximately $2 million is included in interest expense and the balance is included in other - net.

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Commitments and Contingencies (Long-term Purchase Commitment) (Details) (USD $)					3 Months Ended		6 Months Ended														6 Months Ended				0 Months Ended
	Jun. 30, 2014 Corporate and Other [Member]		Jun. 30, 2014 NextEra Energy Resources [Member]	Jun. 30, 2014 NextEra Energy Resources [Member] Contract Group 1 [Member]	Jun. 30, 2014 FPL [Member]	Jun. 30, 2013 FPL [Member]	Jun. 30, 2014 FPL [Member]	Jun. 30, 2013 FPL [Member]	Jun. 30, 2014 FPL [Member] Jea And Southern Subsidiaries Contract Range 1 [Member] MW	Jun. 30, 2014 FPL [Member] Jea And Southern Subsidiaries Contract Range 2 [Member] MW	Jun. 30, 2014 FPL [Member] Qualifying Facilities Contracts [Member] MW	Jun. 30, 2014 FPL [Member] Natural Gas, Coal, And Oil, Including Transportation And Storage [Member]	Jun. 30, 2014 FPL [Member] Qualifying Facilities Capacity Payments [Member]		Jun. 30, 2014 FPL [Member] Jea And Southern Subsidiaries Capacity Payments [Member]		Jun. 30, 2014 FPL [Member] Natural Gas, Including Transportation And Storage, Contract Minimum Payments [Member]		Jun. 30, 2014 FPL [Member] Coal Contract Minimum Payments [Member]		Jun. 30, 2014 Minimum [Member] NextEra Energy Resources [Member] Contract Group 1 [Member]	Jun. 30, 2014 Minimum [Member] NextEra Energy Resources [Member] Contract Group 2 [Member]	Jun. 30, 2014 Maximum [Member] NextEra Energy Resources [Member] Contract Group 1 [Member]	Jun. 30, 2014 Maximum [Member] NextEra Energy Resources [Member] Contract Group 2 [Member]	May 01, 2017 Scenario, Forecast [Member] FPL [Member] Sabal Trail and Florida Southeast Connection [Member]	Jun. 30, 2014 Sabal Trail Transmission, LLC [Member] Corporate and Other [Member]	Jun. 30, 2014 Sabal Trail and Florida Southeast Connection [Member] FPL [Member] Natural Gas, Including Transportation And Storage, Contract Minimum Payments [Member]	Jun. 30, 2014 Sabal Trail Transmission, LLC [Member] Natural Gas Expenditures [Member] Corporate and Other [Member]
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]
Minimum annual purchase commitments (in megawatts)									1,330	375
Time period under contracts																									25 years
Minimum total purchase commitments (in megawatts)											705
Expiration dates of purchase commitments									through 2015	through 2021	2024 through 2034	through 2036									August 2014	August 2014	2030	2033
Equity Method Investment, Ownership Percentage																										33.00%
Long Term Purchase Commiment, Initial Quantity Per Day																									400,000
Long Term Purchase Commitment, Increased Volume Required																									600,000
Commitment amount included in capital expenditures				$ 3,000,000,000
Required capacity and/or minimum payments [Abstract]
Remainder of 2014	95,000,000	[1],[2]	1,430,000,000										140,000,000	[3]	110,000,000	[3]	995,000,000	[4],[5]	35,000,000	[4]
2015	250,000,000	[1],[2]	1,085,000,000										290,000,000	[3]	195,000,000	[3]	1,045,000,000	[4],[5]	40,000,000	[4]
2016	510,000,000	[1],[2]	480,000,000										250,000,000	[3]	70,000,000	[3]	685,000,000	[4],[5]	20,000,000	[4]
2017	50,000,000	[1],[2]	115,000,000										255,000,000	[3]	50,000,000	[3]	745,000,000	[4],[5]	0	[4]							200,000,000
2018	25,000,000	[1],[2]	120,000,000										260,000,000	[3]	10,000,000	[3]	825,000,000	[4],[5]	0	[4]							295,000,000
Thereafter	70,000,000	[1],[2]	475,000,000										1,965,000,000	[3]	5,000,000	[3]	14,520,000,000	[4],[5]	0	[4]							8,535,000,000
Capacity payments					123,000,000	119,000,000	246,000,000	244,000,000
Energy payments					75,000,000	86,000,000	132,000,000	109,000,000
Commitment to invest	50,000,000
Joint Obligations of NEECH and NEER Included in NEER Amounts, remainder of current year	195,000,000
Joint Obligations Of NEECH and NEER included NEER Amounts due in the second year	200,000,000
commitment to invest in pipeline																												$ 900,000,000

[1] Excludes approximately $195 million and $200 million in 2014 and 2015, respectively, of joint obligations of NEECH and NEER which are included in the NEER amounts above.

[2] Includes an approximately $50 million commitment to invest in clean power and technology businesses through 2021.

[3] Capacity charges under these contracts, substantially all of which are recoverable through the capacity cost recovery clause, totaled approximately $123 million and $119 million for the three months ended June 30, 2014 and 2013, respectively, and approximately $246 million and $244 million for the six months ended June 30, 2014 and 2013, respectively. Energy charges under these contracts, which are recoverable through the fuel clause, totaled approximately $75 million and $86 million for the three months ended June 30, 2014 and 2013, respectively

[4] Recoverable through the fuel clause.

[5] Includes approximately $200 million, $295 million and $8,535 million in 2017, 2018 and thereafter, respectively, of firm commitments, subject to certain conditions as noted above, related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection.

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Fair Value Measurements (Policies)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value Measurements

The fair value of assets and liabilities are determined using either unadjusted quoted prices in active markets (Level 1) or pricing inputs that are observable (Level 2) whenever that information is available and using unobservable inputs (Level 3) to estimate fair value only when relevant observable inputs are not available.  NEE and FPL use several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those assets and liabilities that are measured at fair value on a recurring basis.  NEE's and FPL's assessment of the significance of any particular input to the fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  Non-performance risk, including the consideration of a credit valuation adjustment, is also considered in the determination of fair value for all assets and liabilities measured at fair value.

Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less.  NEE primarily holds investments in money market funds.  The fair value of these funds is calculated using current market prices.

Special Use Funds and Other Investments - NEE and FPL hold primarily debt and equity securities directly, as well as indirectly through commingled funds.  Substantially all directly held equity securities are valued at their quoted market prices.  For directly held debt securities, multiple prices and price types are obtained from pricing vendors whenever possible, which enables cross-provider validations.  A primary price source is identified based on asset type, class or issue of each security.  Commingled funds, which are similar to mutual funds, are maintained by banks or investment companies and hold certain investments in accordance with a stated set of objectives.  The fair value of commingled funds is primarily derived from the quoted prices in active markets of the underlying securities.  Because the fund shares are offered to a limited group of investors, they are not considered to be traded in an active market.

Derivative Instruments - NEE and FPL measure the fair value of commodity contracts using prices observed on commodities exchanges and in the OTC markets, or through the use of industry-standard valuation techniques, such as option modeling or discounted cash flows techniques, incorporating both observable and unobservable valuation inputs.  The resulting measurements are the best estimate of fair value as represented by the transfer of the asset or liability through an orderly transaction in the marketplace at the measurement date.

Most exchange-traded derivative assets and liabilities are valued directly using unadjusted quoted prices.  For exchange-traded derivative assets and liabilities where the principal market is deemed to be inactive based on average daily volumes and open interest, the measurement is established using settlement prices from the exchanges, and therefore considered to be valued using other observable inputs.

NEE, through its subsidiaries, including FPL, also enters into OTC commodity contract derivatives.  The majority of these contracts are transacted at liquid trading points, and the prices for these contracts are verified using quoted prices in active markets from exchanges, brokers or pricing services for similar contracts.

NEE, through NEER, also enters into full requirements contracts, which, in most cases, meet the definition of derivatives and are measured at fair value.  These contracts typically have one or more inputs that are not observable and are significant to the valuation of the contract.  In addition, certain exchange and non-exchange traded derivative options at NEE have one or more significant inputs that are not observable, and are valued using industry-standard option models.

In all cases where NEE and FPL use significant unobservable inputs for the valuation of a commodity contract, consideration is given to the assumptions that market participants would use in valuing the asset or liability.  The primary input to the valuation models for commodity contracts is the forward commodity curve for the respective instruments.  Other inputs include, but are not limited to, assumptions about market liquidity, volatility, correlation and contract duration as more fully described below in Significant Unobservable Inputs Used in Recurring Fair Value Measurements.  In instances where the reference markets are deemed to be inactive or do not have transactions for a similar contract, the derivative assets and liabilities may be valued using significant other observable inputs and potentially significant unobservable inputs.In such instances, the valuation for these contracts is established using techniques including extrapolation from or interpolation between actively traded contracts, or estimated basis adjustments from liquid trading points.  NEE and FPL regularly evaluate and validate the inputs used to determine fair value by a number of methods, consisting of various market price verification procedures, including the use of pricing services and multiple broker quotes to support the market price of the various commodities.  In all cases where there are assumptions and models used to generate inputs for valuing derivative assets and liabilities, the review and verification of the assumptions, models and changes to the models are undertaken by individuals that are independent of those responsible for estimating fair value.

NEE uses interest rate contracts and foreign currency swaps to mitigate and adjust interest rate and foreign currency exposure related to certain outstanding and forecasted debt issuances and borrowings when deemed appropriate based on market conditions or when required by financing agreements.  NEE estimates the fair value of these derivatives using a discounted cash flows valuation technique based on the net amount of estimated future cash inflows and outflows related to the agreements.

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Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Long-term debt issuances and borrowings

Significant long-term debt issuances and borrowings by subsidiaries of NEE during the six months ended June 30, 2014 were as follows:

Date Issued	Company	Debt Issuances/Borrowings	Interest Rate			Principal Amount		Maturity Date
						(millions)
January - June 2014	NEER subsidiary	Canadian revolving credit agreements	Variable		(a)	$	492	Various
January 2014	NEER subsidiary	Senior secured limited-recourse term loan	Variable		(a)	$	44	2019
March 2014	NEECH	Debentures	2.700	%	(b)	$	350	2019
May 2014	FPL	First mortgage bonds	3.25	%		$	500	2024
June 2014	NEECH	Debentures	2.40	%	(b)	$	350	2019
June 2014	NEER subsidiary	Senior secured limited-recourse notes	5.60	%		$	280	2038
June 2014	NEER subsidiary	Canadian senior secured limited-recourse term loan	Variable		(a)(b)	$	157	2032
June 2014	NEECH	Japanese yen denominated term loan	Variable		(a)(b)(c)	$	540	2017

————————————

(a) Variable rate is based on an underlying index plus a margin.

(b) Interest rate swap agreements have been entered into with respect to these issuances.  See Note 3.

(c) Cross currency basis swap agreements were entered into with respect to both interest and principal payments on this loan.

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Debt (Narrative) (Details) (Subsequent Event [Member], USD $) In Millions, unless otherwise specified	0 Months Ended
	Jul. 30, 2014	Jul. 30, 2014
Senior Notes [Member] | Secured Debt [Member] | Lone Star [Member]
Debt Instrument [Line Items]
Face amount	$ 360	$ 360
senior secured limited-recourse term loan due 2019 [Member] | An indirect wholly-owned subsidiary of NEECH [Member]
Debt Instrument [Line Items]
Face amount		$ 400
Interest Rate Terms	variable
Minimum [Member] | Senior Notes [Member] | Secured Debt [Member] | Lone Star [Member]
Debt Instrument [Line Items]
Stated interest rate	2.45%	2.45%
Maximum [Member] | Senior Notes [Member] | Secured Debt [Member] | Lone Star [Member]
Debt Instrument [Line Items]
Stated interest rate	4.42%	4.42%

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Fair Value Measurements (Fair Value of Instruments Recorded at Carrying Amount) (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014		Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held To Maturity Notes Receivable Maturity Date High	2029
Special Use Funds Storm Fund Assets	$ 75
Special use funds: nuclear decommissioning fund assets	4,959
Available for sale debt securities amortized cost	1,934		1,954
Available For Sale Securities Equity Securities Amortized Cost	1,333		1,384
Special Use Funds Nuclear Decommissioning Funds Weighted Average Maturity	7 years
Special Use Funds Storm Fund Weighted Average Maturity	3 years
Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Special Use Funds Recorded at Carrying Amount Fair Value Disclosure	502	[1]	311	[1]
Other Investments Notes Receivable Fair Value Disclosure	689	[2]	627	[2]
Long Term Debt Including Current Maturities Fair Value Disclosure	30,448	[3]	28,612	[3]
Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long Term Debt Including Current Maturities Fair Value Disclosure	19,196		17,921
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Special Use Funds Recorded at Carrying Amount Fair Value Disclosure	502	[1]	311	[1]
Other Investments Notes Receivable Fair Value Disclosure	522		531
Long Term Debt Including Current Maturities Fair Value Disclosure	28,328		27,728
FPL [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Special use funds: nuclear decommissioning fund assets	3,359
Available for sale debt securities amortized cost	1,545		1,595
Available For Sale Securities Equity Securities Amortized Cost	618		694
Special Use Funds Nuclear Decommissioning Funds Weighted Average Maturity	7 years
FPL [Member] | Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Special Use Funds Recorded at Carrying Amount Fair Value Disclosure	379	[1]	200	[1]
Long Term Debt Including Current Maturities Fair Value Disclosure	10,253	[3]	9,451	[3]
FPL [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Special Use Funds Recorded at Carrying Amount Fair Value Disclosure	379	[1]	200	[1]
Long Term Debt Including Current Maturities Fair Value Disclosure	$ 9,000		$ 8,829

[1] Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis.

[2] Primarily classified as held to maturity. Fair values are primarily estimated using a discounted cash flow valuation technique based on certain observable yield curves and indices considering the credit profile of the borrower (Level 3). Notes receivable bear interest primarily at fixed rates and mature by 2029. Notes receivable are considered impaired and placed in non-accrual status when it becomes probable that all amounts due cannot be collected in accordance with the contractual terms of the agreement. The assessment to place notes receivable in non-accrual status considers various credit indicators, such as credit ratings and market-related information. As of June 30, 2014 and December 31, 2013, NEE had no notes receivable reported in non-accrual status.

[3] As of June 30, 2014 and December 31, 2013, for NEE, $19,196 million and $17,921 million, respectively, is estimated using quoted market prices for the same or similar issues (Level 2); the balance is estimated using a discounted cash flow valuation technique, considering the current credit spread of the debtor (Level 3). For FPL, estimated using quoted market prices for the same or similar issues (Level 2).

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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $) In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	$ 65,005	$ 62,699
Nuclear fuel	2,062	2,059
Construction work in progress	4,366	4,690
Less accumulated depreciation and amortization	(17,402)	(16,728)
Total property, plant and equipment - net ($5,027 and $5,127 related to VIEs, respectively)	54,031	52,720
CURRENT ASSETS
Cash and cash equivalents	622	438
Customer receivables, net of allowances	1,978	1,777
Other receivables	314	512
Materials, supplies and fossil fuel inventory	1,178	1,153
Regulatory assets:
Deferred clause and franchise expenses	221	192
Other	117	116
Derivatives	577	498
Deferred income taxes	395	753
Other	697	403
Total current assets	6,099	5,842
OTHER ASSETS
Special use funds	5,034	4,780
Other investments	1,262	1,121
Prepaid benefit costs	1,496	1,456
Regulatory assets:
Securitized storm-recovery costs ($207 and $228 related to a VIE, respectively)	337	372
Other	518	426
Derivatives	894	1,163
Other	1,919	1,426
Total other assets	11,460	10,744
TOTAL ASSETS	71,590	69,306
CAPITALIZATION
Common stock	4	4
Additional paid-in capital	6,506	6,411
Retained earnings	11,860	11,569
Accumulated other comprehensive income	59	56
Total common shareholder's equity	18,429	18,040
Long-term debt	25,049	23,969
Total capitalization	43,478	42,009
CURRENT LIABILITIES
Commercial paper	1,116	691
Short-term Debt	500	0
Current maturities of long-term debt	3,285	3,766
Accounts payable	1,475	1,200
Customer deposits	452	452
Accrued interest and taxes	694	473
Derivatives	686	838
Accrued construction-related expenditures	715	839
Other	767	930
Total current liabilities	9,690	9,189
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,905	1,850
Deferred income taxes	8,227	8,144
Regulatory liabilities:
Accrued asset removal costs	1,731	1,839
Asset retirement obligation regulatory expense difference	2,200	2,082
Other	493	462
Derivatives	561	473
Deferral related to differential membership interests - VIEs	1,871	2,001
Other	1,434	1,257
Total other liabilities and deferred credits	18,422	18,108
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	71,590	69,306
FPL [Member]
ELECTRIC UTILITY PLANT
Plant in service and other property	38,566	36,838
Nuclear fuel	1,267	1,240
Construction work in progress	1,269	1,818
Less accumulated depreciation and amortization	(11,226)	(10,944)
Total electric utility plant - net	29,876	28,952
CURRENT ASSETS
Cash and cash equivalents	58	19
Customer receivables, net of allowances	904	757
Other receivables	130	137
Materials, supplies and fossil fuel inventory	774	742
Regulatory assets:
Deferred clause and franchise expenses	221	192
Other	109	105
Other	186	261
Total current assets	2,382	2,213
OTHER ASSETS
Special use funds	3,434	3,273
Prepaid benefit costs	1,166	1,142
Regulatory assets:
Securitized storm-recovery costs ($207 and $228 related to a VIE, respectively)	337	372
Other	484	396
Other	203	140
Total other assets	5,624	5,323
TOTAL ASSETS	37,882	36,488
CAPITALIZATION
Common stock	1,373	1,373
Additional paid-in capital	6,279	6,179
Retained earnings	5,802	5,532
Total common shareholder's equity	13,454	13,084
Long-term debt	8,942	8,473
Total capitalization	22,396	21,557
CURRENT LIABILITIES
Commercial paper	451	204
Current maturities of long-term debt	58	356
Accounts payable	743	611
Customer deposits	448	447
Accrued interest and taxes	571	272
Accrued construction-related expenditures	176	202
Other	382	438
Total current liabilities	2,829	2,530
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,319	1,285
Deferred income taxes	6,534	6,355
Regulatory liabilities:
Accrued asset removal costs	1,731	1,839
Asset retirement obligation regulatory expense difference	2,200	2,082
Other	422	386
Other	451	454
Total other liabilities and deferred credits	12,657	12,401
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$ 37,882	$ 36,488

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Derivative Instruments

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivative Instruments

NEE and FPL use derivative instruments (primarily swaps, options, futures and forwards) to manage the commodity price risk inherent in the purchase and sale of fuel and electricity, as well as interest rate and foreign currency exchange rate risk associated with outstanding and forecasted debt issuances, and to optimize the value of NEER's power generation and gas infrastructure assets.

With respect to commodities related to NEE's competitive energy business, NEER employs risk management procedures to conduct its activities related to optimizing the value of its power generation and gas infrastructure assets, providing full energy and capacity requirements services primarily to distribution utilities, and engaging in power and gas marketing and trading activities to take advantage of expected future favorable price movements and changes in the expected volatility of prices in the energy markets.  These risk management activities involve the use of derivative instruments executed within prescribed limits to manage the risk associated with fluctuating commodity prices.  Transactions in derivative instruments are executed on recognized exchanges or via the OTC markets, depending on the most favorable credit terms and market execution factors.  For NEER's power generation and gas infrastructure assets, derivative instruments are used to hedge the commodity price risk associated with the fuel requirements of the assets, where applicable, as well as to hedge all or a portion of the expected output of these assets.  These hedges are designed to reduce the effect of adverse changes in the wholesale forward commodity markets associated with NEER's power generation and gas infrastructure assets.  With regard to full energy and capacity requirements services, NEER is required to vary the quantity of energy and related services based on the load demands of the customers served.  For this type of transaction, derivative instruments are used to hedge the anticipated electricity quantities required to serve these customers and reduce the effect of unfavorable changes in the forward energy markets.  Additionally, NEER takes positions in the energy markets based on differences between actual forward market levels and management's view of fundamental market conditions, including supply/demand imbalances, changes in traditional flows of energy, changes in short- and long-term weather patterns and anticipated regulatory and legislative outcomes.  NEER uses derivative instruments to realize value from these market dislocations, subject to strict risk management limits around market, operational and credit exposure.

Derivative instruments, when required to be marked to market, are recorded on NEE's and FPL's condensed consolidated balance sheets as either an asset or liability measured at fair value.  At FPL, substantially all changes in the derivatives' fair value are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel and purchased power cost recovery clause (fuel clause).  For NEE's non-rate regulated operations, predominantly NEER, essentially all changes in the derivatives' fair value for power purchases and sales, fuel sales and trading activities are recognized on a net basis in operating revenues; fuel purchases used in the production of electricity are recognized in fuel, purchased power and interchange expense; and the equity method investees' related activity is recognized in equity in earnings of equity method investees in NEE's condensed consolidated statements of income.  Settlement gains and losses are included within the line items in the condensed consolidated statements of income to which they relate.  Transactions for which physical delivery is deemed not to have occurred are presented on a net basis in the condensed consolidated statements of income.  For commodity derivatives, NEE believes that, where offsetting positions exist at the same location for the same time, the transactions are considered to have been netted and therefore physical delivery has been deemed not to have occurred for financial reporting purposes.  Settlements related to derivative instruments are primarily recognized in net cash provided by operating activities in NEE's and FPL's condensed consolidated statements of cash flows.

While most of NEE's derivatives are entered into for the purpose of managing commodity price risk, optimizing the value of NEER's power generation and gas infrastructure assets, reducing the impact of volatility in interest rates on outstanding and forecasted debt issuances and managing foreign currency risk, hedge accounting is only applied where specific criteria are met and it is practicable to do so.  In order to apply hedge accounting, the transaction must be designated as a hedge and it must be highly effective in offsetting the hedged risk.  Additionally, for hedges of forecasted transactions, the forecasted transactions must be probable.  For interest rate and foreign currency derivative instruments, generally NEE assesses a hedging instrument's effectiveness by using nonstatistical methods including dollar value comparisons of the change in the fair value of the derivative to the change in the fair value or cash flows of the hedged item.  Hedge effectiveness is tested at the inception of the hedge and on at least a quarterly basis throughout its life.  The effective portion of the gain or loss on a derivative instrument designated as a cash flow hedge is reported as a component of other comprehensive income (OCI) and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings or when it becomes probable that a forecasted transaction being hedged would not occur.  The ineffective portion of net unrealized gains (losses) on these hedges is reported in earnings in the current period.  In April 2013, NEE discontinued hedge accounting for cash flow hedges related to interest rate swaps associated with the solar projects in Spain (see Note 10 - Spain Solar Projects).  At June 30, 2014, NEE's accumulated other comprehensive income (AOCI) included amounts related to interest rate cash flow hedges with expiration dates through September 2032 and foreign currency cash flow hedges with expiration dates through September 2030.  Approximately $49 million of net losses included in AOCI at June 30, 2014 is expected to be reclassified into earnings within the next 12 months as the principal and/or interest payments are made.  Such amounts assume no change in interest rates, currency exchange rates or scheduled principal payments.

Fair Value of Derivative Instruments - The tables below present NEE's and FPL's gross derivative positions at June 30, 2014 and December 31, 2013, as required by disclosure rules.  However, the majority of the underlying contracts are subject to master netting agreements and generally would not be contractually settled on a gross basis.  Therefore, the tables below also present the derivative positions on a net basis, which reflect the offsetting of positions of certain transactions within the portfolio, the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral (see Note 4 - Recurring Fair Value Measurements for netting information), as well as the location of the net derivative position on the condensed consolidated balance sheets.

	June 30, 2014
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	5,482	$	4,922	$	1,400	$	974
Interest rate contracts	43		94		—		119		68		238
Foreign currency swaps	—		32		—		—		3		35
Total fair values	$	43	$	126	$	5,482	$	5,041	$	1,471	$	1,247
FPL:
Commodity contracts	$	—	$	—	$	84	$	12	$	84	$	12
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	577
Noncurrent derivative assets(b)									894
Current derivative liabilities(c)											$	686
Noncurrent derivative liabilities(d)											561
Total derivatives									$	1,471	$	1,247
Net fair value by FPL balance sheet line item:
Current other assets									$	81
Noncurrent other assets									3
Current other liabilities											$	1
Noncurrent other liabilities											11
Total derivatives									$	84	$	12

______________________

(a) Reflects the netting of approximately $81 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $68 million in margin cash collateral received from counterparties.

(c) Reflects the netting of approximately $1 million in margin cash collateral provided to counterparties.

(d) Reflects the netting of approximately $14 million in margin cash collateral provided to counterparties.

	December 31, 2013
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	4,543	$	3,633	$	1,571	$	940
Interest rate contracts	89		127		1		93		90		220
Foreign currency swaps	—		50		—		101		—		151
Total fair values	$	89	$	177	$	4,544	$	3,827	$	1,661	$	1,311
FPL:
Commodity contracts	$	—	$	—	$	55	$	9	$	48	$	2
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	498
Noncurrent derivative assets(b)									1,163
Current derivative liabilities											$	838
Noncurrent derivative liabilities											473
Total derivatives									$	1,661	$	1,311
Net fair value by FPL balance sheet line item:
Current other assets									$	48
Current other liabilities											$	1
Noncurrent other liabilities											1
Total derivatives									$	48	$	2

______________________

(a) Reflects the netting of approximately $181 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $98 million in margin cash collateral received from counterparties.

At June 30, 2014 and December 31, 2013, NEE had approximately $20 million and $24 million (none at FPL), respectively, in margin cash collateral received from counterparties that was not offset against derivative assets in the above presentation.  These amounts are included in current other liabilities on NEE's condensed consolidated balance sheets.  Additionally, at June 30, 2014 and December 31, 2013, NEE had approximately $93 million and $42 million (none at FPL), respectively, in margin cash collateral provided to counterparties that was not offset against derivative assets or liabilities in the above presentation.  These amounts are included in current other assets on NEE's condensed consolidated balance sheets.

Income Statement Impact of Derivative Instruments - Gains (losses) related to NEE's cash flow hedges are recorded in NEE's condensed consolidated financial statements (none at FPL) as follows:

	Three Months Ended June 30,
	2014										2013
	Interest Rate Contracts				Foreign Currency Swaps			Total			Interest Rate Contracts				Foreign Currency Swaps				Total
	(millions)
Gains (losses) recognized in OCI	$	(27	)		$	17		$	(10	)	$	65			$	(4	)		$	61
Gains (losses) reclassified from AOCI to net income	$	(16	)	(a)	$	23	(b)	$	7		$	(15	)	(a)	$	(12	)	(b)	$	(27	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $1 million is included in interest expense and the balance is included in other - net.

	Six Months Ended June 30,
	2014										2013
	Interest Rate Contracts				Foreign Currency Swaps			Total				Interest Rate Contracts				Foreign Currency Swaps				Total
	(millions)
Gains (losses) recognized in OCI	$	(54	)		$	15		$	(39	)		$	165			$	(12	)		$	153
Gains (losses) reclassified from AOCI to net income	$	(32	)	(a)	$	25	(b)	$	(7	)		$	(30	)	(a)	$	(31	)	(b)	$	(61	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $2 million is included in interest expense and the balance is included in other - net.

For the three months ended June 30, 2014 and 2013, NEE recorded a gain of approximately $15 million and a loss of $48 million, respectively, on fair value hedges which resulted in a corresponding increase and decrease, respectively, in the related debt. For the six months ended June 30, 2014 and 2013, NEE recorded a gain of approximately $19 million and a loss of $57 million, respectively, on fair value hedges which resulted in a corresponding increase and decrease, respectively, in the related debt.

Gains (losses) related to NEE's derivatives not designated as hedging instruments are recorded in NEE's condensed consolidated statements of income as follows:

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
	(millions)
Commodity contracts:(a)
Operating revenues	$	(153	)	$	15		$	(425	)	$	(27	)
Fuel, purchased power and interchange	—			8			(4		)	11
Foreign currency swap - other - net	(6		)	(20		)	(1		)	(52		)
Interest rate contracts - interest expense	(8		)	11			(35		)	11
Total	$	(167	)	$	14		$	(465	)	$	(57	)

————————————

(a) For the three and six months ended June 30, 2014, FPL recorded approximately $11 million and $147 million of gains, respectively, related to commodity contracts as regulatory liabilities on its condensed consolidated balance sheets.  For the three and six months ended June 30, 2013, FPL recorded approximately $149 million and $5 million of losses, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.  

Notional Volumes of Derivative Instruments - The following table represents net notional volumes associated with derivative instruments that are required to be reported at fair value in NEE's and FPL's condensed consolidated financial statements.  The table includes significant volumes of transactions that have minimal exposure to commodity price changes because they are variably priced agreements.  These volumes are only an indication of the commodity exposure that is managed through the use of derivatives.  They do not represent net physical asset positions or non-derivative positions and their hedges, nor do they represent NEE’s and FPL’s net economic exposure, but only the net notional derivative positions that fully or partially hedge the related asset positions.  NEE and FPL had derivative commodity contracts for the following net notional volumes:

	June 30, 2014					December 31, 2013
Commodity Type	NEE			FPL		NEE			FPL
	(millions)
Power	(94	)	MWh(a)	—		(276	)	MWh(a)	—
Natural gas	1,422		MMBtu(b)	884	MMBtu(b)	1,140		MMBtu(b)	674	MMBtu(b)
Oil	(9	)	barrels	—		(10	)	barrels	—

————————————

(a) Megawatt-hours

(b) One million British thermal units

At June 30, 2014 and December 31, 2013, NEE had interest rate contracts with a notional amount totaling approximately $7.1 billion and $6.5 billion, respectively, and foreign currency swaps with a notional amount totaling approximately $661 million and $662 million, respectively.

Credit-Risk-Related ContingentFeatures - Certain derivative instruments contain credit-risk-related contingent features including, among other things, the requirement to maintain an investment grade credit rating from specified credit rating agencies and certain financial ratios, as well as credit-related cross-default and material adverse change triggers.  At June 30, 2014 and December 31, 2013, the aggregate fair value of NEE's derivative instruments with credit-risk-related contingent features that were in a liability position was approximately $2.0 billion ($12 million for FPL) and $2.1 billion ($9 million for FPL), respectively.

If the credit-risk-related contingent features underlying these agreements and other commodity-related contracts were triggered, certain subsidiaries of NEE, including FPL, could be required to post collateral or settle contracts according to contractual terms which generally allow netting of contracts in offsetting positions.  Certain contracts contain multiple types of credit-related triggers.  To the extent these contracts contain a credit ratings downgrade trigger, the maximum exposure is included in the following credit ratings collateral posting requirements.  If FPL's and NEECH's credit ratings were downgraded to BBB/Baa2 (a two level downgrade for FPL and a one level downgrade for NEECH from the current lowest applicable rating), applicable NEE subsidiaries would be required to post collateral such that the total posted collateral would be approximately $300 million ($20 million at FPL) as of June 30, 2014 and $400 million ($20 million at FPL) as of December 31, 2013.If FPL's and NEECH's credit ratings were downgraded to below investment grade, applicable NEE subsidiaries would be required to post additional collateral such that the total posted collateral would be approximately $2.3 billion ($0.4 billion at FPL) and $2.3 billion ($0.4 billion at FPL) as of June 30, 2014 and December 31, 2013, respectively.  Some contracts do not contain credit ratings downgrade triggers, but do contain provisions that require certain financial measures be maintained and/or have credit-related cross-default triggers.  In the event these provisions were triggered, applicable NEE subsidiaries could be required to post additional collateral of up to approximately $700 million ($200 million at FPL) and $800 million ($150 million at FPL) as of June 30, 2014 and December 31, 2013, respectively.

Collateral related to derivatives may be posted in the form of cash or credit support in the normal course of business.  At June 30, 2014 and December 31, 2013, applicable NEE subsidiaries have posted approximately $39 million (none at FPL) and $210 million (none at FPL), respectively, in the form of letters of credit which could be applied toward the collateral requirements described above.  FPL and NEECH have credit facilities generally in excess of the collateral requirements described above that would be available to support, among other things, derivative activities.  Under the terms of the credit facilities, maintenance of a specific credit rating is not a condition to drawing on these credit facilities, although there are other conditions to drawing on these credit facilities.

Additionally, some contracts contain certain adequate assurance provisions where a counterparty may demand additional collateral based on subjective events and/or conditions.  Due to the subjective nature of these provisions, NEE and FPL are unable to determine an exact value for these items and they are not included in any of the quantitative disclosures above.

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2014

Commitments and Contingencies [Abstract]

Schedule of Planned Capital Expenditures

At June 30, 2014, estimated capital expenditures for the remainder of 2014 through 2018 were as follows:

	Remainder of 2014		2015		2016		2017		2018		Total
	(millions)
FPL:
Generation:(a)
New(b)(c)	$	330	$	275	$	90	$	—	$	—	$	695
Existing	410		670		615		580		545		2,820
Transmission and distribution	750		1,205		1,125		955		1,025		5,060
Nuclear fuel	75		205		220		190		180		870
General and other	115		155		120		165		160		715
Total(d)	$	1,680	$	2,510	$	2,170	$	1,890	$	1,910	$	10,160
NEER:
Wind(e)	$	1,005	$	705	$	70	$	5	$	10	$	1,795
Solar(f)	365		850		405		—		—		1,620
Nuclear(g)	190		285		305		245		255		1,280
Other(h)	250		110		75		45		80		560
Total	$	1,810	$	1,950	$	855	$	295	$	345	$	5,255
Corporate and Other(i)	$	150	$	470	$	785	$	200	$	95	$	1,700

————————————

(a) Includes allowance for funds used during construction (AFUDC) of approximately $21 million, $53 million and $17 million for the remainder of 2014 through 2016, respectively.

(b) Includes land, generating structures, transmission interconnection and integration and licensing.

(c) Consists of projects that have received FPSC approval. Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.

(d) FPL has identified $1.5 billion to $2.5 billion in potential incremental capital expenditures through 2016 in addition to what is included in the table above.

(e) Consists of capital expenditures for new wind projects and related transmission totaling approximately 1,910 MW, including approximately 465 MW in Canada, that have received applicable internal approvals.  NEER expects to add new U.S. wind generation of 2,000 MW to 2,500 MW in 2013 through 2015, including 325 MW added to date, at a total cost of up to $3.5 billion to $4.5 billion.

(f) Consists of capital expenditures for new solar projects and related transmission totaling approximately 587 MW that have received applicable internal approvals, including equity contributions associated with a 50% equity investment in a 550 MW solar project.  Excludes solar projects requiring internal approvals with generation totaling 47 MW with an estimated cost of approximately $120 million.

(g) Includes nuclear fuel.

(h) Consists of capital expenditures that have received applicable internal approvals.

(i) Includes capital expenditures totaling approximately $1.4 billion for the remainder of 2014 through 2018 for construction of a natural gas pipeline system that has received applicable internal approvals, including approximately $855 million of equity contributions associated with a 33% equity investment in the northern portion of the natural gas pipeline system and $520 million for the southern portion, which includes AFUDC of approximately $1 million, $7 million, $20 million and $11 million for the remainder of 2014 through 2017, respectively.  Construction of the natural gas pipeline system is subject to certain conditions, including FERC approval.  A FERC decision is expected in 2015.  See Contracts below.

Required capacity and/or minimum payments under contracts

The required capacity and/or minimum payments under the contracts discussed above as of June 30, 2014 were estimated as follows:

	Remainder of 2014		2015		2016		2017		2018		Thereafter
	(millions)
FPL:
Capacity charges:(a)
Qualifying facilities	$	140	$	290	$	250	$	255	$	260	$	1,965
JEA and Southern subsidiaries	$	110	$	195	$	70	$	50	$	10	$	5
Minimum charges, at projected prices:(b)
Natural gas, including transportation and storage(c)	$	995	$	1,045	$	685	$	745	$	825	$	14,520
Coal	$	35	$	40	$	20	$	—	$	—	$	—
NEER	$	1,430	$	1,085	$	480	$	115	$	120	$	475
Corporate and Other(d)(e)	$	95	$	250	$	510	$	50	$	25	$	70

————————————

(a) Capacity charges under these contracts, substantially all of which are recoverable through the capacity cost recovery clause, totaled approximately $123 million and $119 million for the three months ended June 30, 2014 and 2013, respectively, and approximately $246 million and $244 million for the six months ended June 30, 2014 and 2013, respectively.  Energy charges under these contracts, which are recoverable through the fuel clause, totaled approximately $75 million and $86 million for the three months ended June 30, 2014 and 2013, respectively, and approximately $132 million and $109 million for the six months ended June 30, 2014 and 2013, respectively.

(b) Recoverable through the fuel clause.

(c) Includes approximately $200 million, $295 million and $8,535 million in 2017, 2018 and thereafter, respectively, of firm commitments, subject to certain conditions as noted above, related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection.

(d) Includes an approximately $50 million commitment to invest in clean power and technology businesses through 2021.

(e) Excludes approximately $195 million and $200 million in 2014 and 2015, respectively, of joint obligations of NEECH and NEER which are included in the NEER amounts above.

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Fair Value Measurements (Significant Unobservable Inputs Used in Valuation of Contracts) (Details) (Level 3 [Member], USD $) In Millions, except Per Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2014
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	$ 1,052
Liabilities, Fair Value Disclosure	579
Forward Contracts - power [Member] | Discounted Cash Flow Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	518
Liabilities, Fair Value Disclosure	104
Forward Contracts - power [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ 8
Forward Contracts - power [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ 169
Forward contracts - Gas [Member] | Discounted Cash Flow Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	105
Liabilities, Fair Value Disclosure	35
Forward contracts - Gas [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ 2
Forward contracts - Gas [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ 18
Forward contracts - other commodity related [Member] | Discounted Cash Flow Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	24
Liabilities, Fair Value Disclosure	40
Forward contracts - other commodity related [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ 1
Forward contracts - other commodity related [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ 112
Options - Power [Member] | Option Models [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	133
Liabilities, Fair Value Disclosure	123
Options - Power [Member] | Option Models [Member] | Implied Correlations [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	10.00%
Options - Power [Member] | Option Models [Member] | Implied Correlations [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	96.00%
Options - Power [Member] | Option Models [Member] | Implied Volatilities [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	1.00%
Options - Power [Member] | Option Models [Member] | Implied Volatilities [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	431.00%
Options - Gas [Member] | Option Models [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	65
Liabilities, Fair Value Disclosure	123
Options - Gas [Member] | Option Models [Member] | Implied Correlations [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	10.00%
Options - Gas [Member] | Option Models [Member] | Implied Correlations [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	96.00%
Options - Gas [Member] | Option Models [Member] | Implied Volatilities [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	1.00%
Options - Gas [Member] | Option Models [Member] | Implied Volatilities [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	95.00%
Full Requirements and Unit Contingent Contracts [Member] | Discounted Cash Flow Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	207
Liabilities, Fair Value Disclosure	154
Full Requirements and Unit Contingent Contracts [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ (11)
Full Requirements and Unit Contingent Contracts [Member] | Discounted Cash Flow Member] | Foward Price [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (in dollars per unit)	$ 219
Full Requirements and Unit Contingent Contracts [Member] | Discounted Cash Flow Member] | Customer Migration Rate [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	0.00%	[1]
Full Requirements and Unit Contingent Contracts [Member] | Discounted Cash Flow Member] | Customer Migration Rate [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Expected rates (as a percentage)	20.00%	[1]
NextEra Energy Resources [Member] | Interest rate contracts [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Liabilities, Fair Value Disclosure	$ 119

[1] Applies only to full requirements contracts.

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Derivative Instruments (Policies)

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives, Policy [Policy Text Block]

NEE and FPL use derivative instruments (primarily swaps, options, futures and forwards) to manage the commodity price risk inherent in the purchase and sale of fuel and electricity, as well as interest rate and foreign currency exchange rate risk associated with outstanding and forecasted debt issuances, and to optimize the value of NEER's power generation and gas infrastructure assets.

With respect to commodities related to NEE's competitive energy business, NEER employs risk management procedures to conduct its activities related to optimizing the value of its power generation and gas infrastructure assets, providing full energy and capacity requirements services primarily to distribution utilities, and engaging in power and gas marketing and trading activities to take advantage of expected future favorable price movements and changes in the expected volatility of prices in the energy markets.  These risk management activities involve the use of derivative instruments executed within prescribed limits to manage the risk associated with fluctuating commodity prices.  Transactions in derivative instruments are executed on recognized exchanges or via the OTC markets, depending on the most favorable credit terms and market execution factors.  For NEER's power generation and gas infrastructure assets, derivative instruments are used to hedge the commodity price risk associated with the fuel requirements of the assets, where applicable, as well as to hedge all or a portion of the expected output of these assets.  These hedges are designed to reduce the effect of adverse changes in the wholesale forward commodity markets associated with NEER's power generation and gas infrastructure assets.  With regard to full energy and capacity requirements services, NEER is required to vary the quantity of energy and related services based on the load demands of the customers served.  For this type of transaction, derivative instruments are used to hedge the anticipated electricity quantities required to serve these customers and reduce the effect of unfavorable changes in the forward energy markets.  Additionally, NEER takes positions in the energy markets based on differences between actual forward market levels and management's view of fundamental market conditions, including supply/demand imbalances, changes in traditional flows of energy, changes in short- and long-term weather patterns and anticipated regulatory and legislative outcomes.  NEER uses derivative instruments to realize value from these market dislocations, subject to strict risk management limits around market, operational and credit exposure.

Derivative instruments, when required to be marked to market, are recorded on NEE's and FPL's condensed consolidated balance sheets as either an asset or liability measured at fair value.  At FPL, substantially all changes in the derivatives' fair value are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel and purchased power cost recovery clause (fuel clause).  For NEE's non-rate regulated operations, predominantly NEER, essentially all changes in the derivatives' fair value for power purchases and sales, fuel sales and trading activities are recognized on a net basis in operating revenues; fuel purchases used in the production of electricity are recognized in fuel, purchased power and interchange expense; and the equity method investees' related activity is recognized in equity in earnings of equity method investees in NEE's condensed consolidated statements of income.  Settlement gains and losses are included within the line items in the condensed consolidated statements of income to which they relate.  Transactions for which physical delivery is deemed not to have occurred are presented on a net basis in the condensed consolidated statements of income.  For commodity derivatives, NEE believes that, where offsetting positions exist at the same location for the same time, the transactions are considered to have been netted and therefore physical delivery has been deemed not to have occurred for financial reporting purposes.  Settlements related to derivative instruments are primarily recognized in net cash provided by operating activities in NEE's and FPL's condensed consolidated statements of cash flows.

While most of NEE's derivatives are entered into for the purpose of managing commodity price risk, optimizing the value of NEER's power generation and gas infrastructure assets, reducing the impact of volatility in interest rates on outstanding and forecasted debt issuances and managing foreign currency risk, hedge accounting is only applied where specific criteria are met and it is practicable to do so.  In order to apply hedge accounting, the transaction must be designated as a hedge and it must be highly effective in offsetting the hedged risk.  Additionally, for hedges of forecasted transactions, the forecasted transactions must be probable.  For interest rate and foreign currency derivative instruments, generally NEE assesses a hedging instrument's effectiveness by using nonstatistical methods including dollar value comparisons of the change in the fair value of the derivative to the change in the fair value or cash flows of the hedged item.  Hedge effectiveness is tested at the inception of the hedge and on at least a quarterly basis throughout its life.  The effective portion of the gain or loss on a derivative instrument designated as a cash flow hedge is reported as a component of other comprehensive income (OCI) and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings or when it becomes probable that a forecasted transaction being hedged would not occur.  The ineffective portion of net unrealized gains (losses) on these hedges is reported in earnings in the current period.