NextEra Energy, including its subsidiary Florida Power & Light, announced Friday higher earnings during the third quarter of 2013, because of increased investment.
FPL — the state’s largest utility — reported of $422 million, or 99 cents a share, in the third quarter net income. This compares to the same period last year, when net earnings were $392 million, or 93 cents a share, reports the News Service of Florida.
Parent company NextEra Energy reported net income of $698 million in the third quarter, or $1.64 a share, compared to the third quarter 2012 earnings of $415 million, or 98 cents a share.
According to the News Service, when adjusted, NextEra Energy earned $607 million, or $1.43 a share, during the last quarter.
“At Florida Power & Light Company, increased investment in the business continues to improve reliability, reduce emissions, lower fuel costs, and enhance an already excellent value proposition for our customers,” said James L. Robo, NextEra Energy President and Chief Executive Officer, in a press release.