FPL PARENT EXPANDS, WILL BUY GULF POWER

FPL parent’s purchase includes Florida City Gas, 2 power plants.

Florida’s biggest power company aims to get bigger. Juno Beach-based NextEra Energy Inc. announced Monday it intends to buy Gulf Power, Florida City Gas and interests in two Florida power plants for nearly $6.5 billion.

NextEra, the parent company of Florida Power & Light with nearly 5 million customers, will add about 450,000 customers at Gulf Power and 110,000 from Florida City Gas in the deal with Atlanta-based Southern Co.

A group that intervenes in utility cases expressed concerns about giving one company so much control of the state’s market, but company officials accentuated what they touted as the upside.

“These transactions will provide meaningful benefits for the state of Florida, and Gulf Power and Florida City Gas customers, as well as NextEra Energy shareholders,” said Jim Robo, chairman and CEO of NextEra Energy, in a statement.

NextEra’s stock rose $3.77 per share, or about 2.4 percent, in trading Monday on the New York Stock Exchange.

Not everyone was applauding. The Southern Alliance for Clean Energy, a group founded in 1985 that intervenes in some utility cases, voiced worries the deal gives one company too much sway not just over rates but also environmental issues.

“While Southern Alliance for Clean Energy is still reviewing this deal, it raises concerns that any one monopoly utility would control such a significant percentage of Florida’s energy market,” the group said.

NextEra noted the Federal Energy Regulatory Commission must OK the Gulf Power acquisition, among other required approvals, but alliance officials said this calls for more than a cursory review.

Certainly the deal would increase NextEra’s already hefty footprint in Florida.

Gulf Power serves eight counties in northwest Florida and has roughly 9,500 miles of power lines and 2,300 megawatts of electric generating capacity.

Florida City Gas serves residential and commercial natural-gas customers in Miami-Dade, Brevard, St. Lucie and Indian River counties with 3,700 miles of natural gas pipelines.

NextEra said it will take 100 percent ownership interest in Plant Oleander, a natural-gas fueled electric generation plant located near Cocoa, and 65 percent ownership interest in Stanton Energy Center near Orlando.