FPL
GROUP
FPL Group, Inc.
Fact Sheet
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FPL Group, Inc. (NYSE: FPL) is one of the largest providers of
electricity-related services in the United States. The company employs
approximately 11,350 people and has operations in 17 states. The company is
recognized as having world-class power generation operations, with an impressive
environmental record. Annual revenues in 1999 exceeded $6 billion.
Its principal subsidiary, Florida Power & Light Company, serves more than seven
million people along the eastern seaboard and southern portion of Florida.
Founded in 1925, FPL delivers power from 34 major generating units, plus
non-utility sources, over approximately 66,000 miles of electric lines. The
utility expects customer accounts and usage per customer to grow a total of 4
percent annually over the next several years. FPL electric rates are lower than
any major investor-owned electric utility in Florida and 15 percent lower than
the industry average.
FPL power plants have a current generating capacity of 16,444 megawatts (MW). By
2003, the company will have added nearly 2,100 megawatts to its capacity by
repowering four older oil-fired power plants with high-efficiency, gas-fired
combined-cycle generators. It is also adding 636 MW of single-cycle units by
2003 to meet customer demand during high electricity usage periods.
Since the early 1990s, FPL Group has focused on reducing costs, improving
quality and customer satisfaction, and investing outside of Florida in
environmentally favored generation technologies. As a consequence, the company
is one of the largest, cleanest, most efficient and financially sound providers
of electricity in the country.
FPL Energy, its independent power production subsidiary, was formed in 1998 and
operates in 15 states. With a 4,165 net-megawatt portfolio of generation units,
FPL Energy produces 85 percent of its electricity from clean natural gas or
renewable energy sources such as wind, hydro and solar. It has announced plans
to build plants that would add more than 2,000 MW to its operations by 2003.
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FPL Group Affiliates
o Florida Power & Light Company - one of the largest electric utilities
in the U.S., serving 3.8 million customer accounts in Florida.
o FPL Energy LLC - an independent power production subsidiary that
produces electricity from clean and renewable fuels and has plants in
operation, construction or development in 15 states.
o FPL FiberNet LLC - a wholly owned subsidiary offering fiber optic
capacity in Florida on a wholesale basis. Formed in January 2000, the
company operates a 1,600-mile fiber optic network in Florida and is
building intra-city networks to serve Florida's top 15 metropolitan
markets.
o Energy Marketing & Trading - a division of FPL and one of the top ten
physical power marketers in the U.S. Its activities are focused on
enhancing the performance of FPL and FPL Energy, and its trading is
principally around company-owned generating assets.
FPL and the Environment
Generating power to meet increasing demand brings with it a responsibility to
respect our world's ecosystem - the land, air, water and life that surround us.
As one of the cleanest and most efficient utilities in the world, the company
strives for continuous improvement. Along with its commitment to produce power
in a manner that is sensitive to the environment, the company takes
responsibility to restore and maintain the natural environment in which its
facilities are located and where its employees and customers live.
One of the pillars of FPL's environmental efforts is its programs to protect
endangered species. At several power plant sites, FPL maintains active programs
for protecting endangered or threatened species, such as the American , the
Florida manatee, the southern bald eagle, wood storks, sea turtles and the
Florida .
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Financial Highlights
FINANCIAL RESULTS 1999 1998
(in millions, except per share amounts)
Operating Revenues $6,438 $6,661
Operating Income $920 $1 ,252
Net Income $681* $664
Earnings Per Share $3.98* $3.85
Cash Flows From Operating Activities $1,563 $1,743
Total Assets $13,441 $12,029
COMMON STOCK DATA
Average Shares Outstanding** 171 172.5
Dividends Per Share $2.08 $2.00
OPERATING DATA
Energy Sales (millions KWh) 88,067 89,362
Customers (thousands) 3,800 3,680
Residential 56% 57%
Commercial 37% 36%
Industrial 3% 3%
Other 4% 4%
Employees 10,717 10,375
*Excludes non recurring items
** Net of unallocated ESOP shares
FPL Group Executive Team
o James L. Broadhead, Chairman and Chief Executive Officer
o Paul Evanson, President, Florida Power & Light Company
o Lewis Hay III, President, FPL Energy
FPL Group, Inc.
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Corporate Offices Lisa Kuzel
700 Universe Blvd. Director, Investor Relations
P.O. Box 14000 Phone: (561) 694-4697
Juno Beach, Florida 33408-0420 Fax: (561) 694-4620
Phone (561) 694-4000 email: [email protected]
www.fplgroup.com
Media Relations
Phone: (305) 552-3888
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