FPL par­ent to buy gulf power

South Florida Times - - BUSINESS - By JIM SAUNDERS

TALLAHASSEE - In a ma­jor move in the state’s util­ity in­dus­try, the par­ent com­pany of Flor ida Power & Light said Mon­day it will buy North­west Florida’s Gulf Power as part of a $6.475 bil­lion deal.

Nex­tEra En­ergy Inc. plans to buy Gulf Power, the Florida City Gas nat­u­ral-gas com­pany and own­er­ship in­ter­ests i n two power plants from The Souther n Com­pany. The pur­chase of Gulf Power and the stakes i n the power plants, which are sub­ject to f ed­eral ap­proval, are ex­pected to close dur­ing the first half of 2019, while the Florida City Gas pur­chase is slated for the third quar­ter of 2018, ac­cord­ing to a Nex­tEra En­ergy an­nounce­ment.

The deal would ex­pand Nex­tEra En­ergy’s al­ready-mas­sive foot­print in the state. The Florida Power & Light sub­sidiary is by far the largest elec­tric util­ity in Florida, serv­ing nearly five mil­lion cus­tomers. Gulf Power, with about 450,000 cus­tomers in eight coun­ties, is the largest util­ity in the Pan­han­dle.

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