Total : 44 View more »
HOUSTON, Nov. 19 /PRNewswire-FirstCall/ -- An indirect wholly-owned pipeline subsidiary of CenterPoint Energy, Inc. (NYSE: CNP - News) and NextEra US Gas Assets, LLC, an affiliate
http://finance.yahoo.com/news/CenterPoint-Energys-Pipeline-prnews-2498725359.html?x=0
FPL Group Inc.
Green Investor News at Renewable Energy and GreenTech Business and Stock RSS NewsFeed at Investorideas.com. Submit green business news to be read by investors and industry following renewable energy, cleantech and water, or subscribe to our newsfeed to read the latest news
NEW YORK (MarketWatch) -- FPL Group Inc. on Tuesday said third-quarter net income fell to $533 million, or $1.31 a share, from $744 million, or $1.92 a share in the year-ago period. Adjusted net income in the latest period totaled $1.38 a share. Revenue fell to $4.47 billion from $5.39 billion.
http://www.marketwatch.com/story/fpl-group-net-income-falls-28-2009-10-27?siteid=yhoof2
Total : 59 View more »
HOUSTON, Nov 19, 2009 /PRNewswire-FirstCall via COMTEX/ --
An indirect wholly-owned pipeline subsidiary of CenterPoint Energy, Inc. (NYSE: CNP) and NextEra US Gas Assets, LLC, an affiliate of FPL Group, Inc. (NYSE: FPL), today announced that they have signed a joint development agreement to explore the construction of a pipeline in north Louisiana to transport natural gas from the expanding Haynesville Shale area. An upcoming open season will be held to gauge market interest in the proposed new pipeline.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020930/CNPLOGO)
The capacity of the potential new pipeline would be up to 2.0 billion cubic feet per day and would connect Haynesville Shale natural gas production to markets in north Louisiana and CenterPoint Energy's Perryville Hub.
"Gas production in north Louisiana, including the rapidly developing Haynesville Shale, remains robust and we are committed to finding a solution to assist producers with Haynesville and north Louisiana acreage to create another pipeline option for their production," said Greg Harper, senior vice president and group president of CenterPoint Energy's Pipeline Group.
Larry Wall, president of NextEra US Gas Assets, LLC, said, "We believe there is a tremendous need to enhance the existing infrastructure in the rapidly expanding Haynesville Shale area. We are pleased to be partnering on this project with CenterPoint Energy, a company with a proven track record of executing expansion projects in this area."
The specific facilities required will be a function of the location and volume commitment of potential shippers. Final pricing will be based on the facility costs, the level of firm commitments and the amount of interest indicated in accessing specific markets. It is expected that long-term pipeline capacity commitments will be necessary to complete this project.
Assuming adequate expressions of interest are received and management approval from both companies, a joint venture entity will be formed that would execute binding precedent agreements and seek necessary regulatory approvals to place the pipeline into service as quickly as possible. Each company would own an equal equity interest in the new pipeline. CenterPoint Energy's pipeline group would design and oversee construction, and ultimately operate the new pipeline.
About CenterPoint Energy
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines, and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. Assets total nearly $19 billion. With about 8,800 employees, CenterPoint Energy and its predecessor companies have been in business for more than 135 years. For more information, visit the Web site at www.CenterPointEnergy.com.
About FPL Group
FPL Group, Inc. (NYSE:FPL) is a leading clean energy company with 2008 revenues of more than $16 billion, approximately 39,000 megawatts of generating capacity, and more than 15,000 employees in 27 states and Canada. Headquartered in Juno Beach, Fla., FPL Group's principal subsidiaries are NextEra Energy Resources, LLC, the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. Through its subsidiaries, FPL Group collectively operates the third largest U.S. nuclear power generation fleet. For more information about FPL Group visit www.FPLGroup.com.
CenterPoint Energy Forward-Looking Statement
This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding future financial performance and results of operations and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include the timing and outcome of appeals from the true-up proceedings, the timing and impact of future regulatory, legislative, and IRS decisions, effects of competition, weather variations, changes in CenterPoint Energy's or its subsidiaries' business plans, financial market conditions, the timing and extent of changes in commodity prices, particularly natural gas, the impact of unplanned facility outages, and other factors discussed in CenterPoint Energy's and its subsidiaries' Forms 10-K for the fiscal year ended December 31, 2008, CenterPoint Energy's and its subsidiaries' Forms 10-Q for the periods ended March 31, 2009, and June 30, 2009, CenterPoint Energy's Form 10-Q for the period ended September 30, 2009, and other filings with the SEC.
FPL Group Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically express or involve discussion as to expectations, beliefs, plans, objectives, assumptions or future events or performance and often can be identified by the use of words such as "will," "expect," "believe," "anticipate," "estimate," and similar terms.
Although FPL Group, Inc. (FPL Group) believes that its expectations are reasonable, because forward-looking statements are subject to certain risks and uncertainties, it can give no assurance that the forward-looking statements contained in this press release will prove to be correct, including FPL Group's expectations with respect to the joint development agreement executed with CenterPoint Energy, Inc. (the "Joint Development Agreement") and the potential pipeline construction project (the "Pipeline Project"). Important factors could cause FPL Group's actual results to differ materially from those projected in the forward-looking statements in this press release. Factors that could have a significant impact on FPL Group's operations and financial results, and could cause FPL Group's actual results or outcomes, both generally and specifically with respect to the Joint Development Agreement and the Pipeline Project, to differ materially from those discussed in the forward-looking statements include, among others:
-- Inability to reach agreement on the formation and operation of a joint
venture entity to construct and own the Pipeline Project
-- Inability to execute precedent agreements and other long-term
commitments in connection with the Pipeline Project
-- Inability to complete construction of, or capital improvements to, the
Pipeline Project or other FPL Group power generation facilities
-- Inability to obtain the required rights, regulatory approvals and
permits for the construction and operation of the Pipeline Project
-- Inability to obtain the supplies necessary for the construction,
operation, and maintenance of the Pipeline Project or other FPL Group
power generation facilities
-- Changes in laws, regulations, governmental policies and regulatory
actions regarding the energy and natural gas industries and
environmental matters
-- Inability of FPL Group to access capital markets or maintain its credit
rating
-- Inability to hire and retain skilled labor for the construction and
operation of the Pipeline Project, or other changes or disruptions
related to FPL Group's workforce
-- Lack of natural gas production from the Haynesville Shale area
-- General economic conditions
-- Hazards customary to the operation and maintenance of pipelines and
power generation facilities, including unanticipated outages
-- Unusual or adverse weather conditions, including natural disasters
-- Volatility in the price of natural gas or energy
-- Failure of FPL Group customers to perform under contracts
-- Increased competition in the power and natural gas industries
-- Changes in the wholesale power and natural gas markets
-- Costs and other effects of legal and administrative proceedings
-- Terrorism or other catastrophic events
These foregoing factors should be considered in connection with information regarding risks and uncertainties that may affect FPL Group's future results included in FPL Group's filings with the Securities and Exchange Commission at www.sec.gov.
FPL Group undertakes no obligation to update or review any forward-looking statement to reflect events or circumstances, including unanticipated events, after the date on which such statement is made. 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 facts, may cause actual results to differ materially from those contained in any forward-looking statement.
CenterPoint Energy contacts:
Media:
Leticia Lowe
Phone 713.207.7702
Investors:
Marianne Paulsen
Phone 713.207.6500
NextEra US Gas Assets:
Steve Stengel
Phone 888-867-3050
SOURCE CenterPoint Energy, Inc.
http://www.centerpointenergy.com
Tags: arkansas business canada commodity construction credit rating electric utility electricity energy equity expansion financial results florida gasoline joint venture labor legal louisiana market media minnesota mississippi natural gas north america nyse oklahoma pipeline president prices regulations renewable energy sales securities terrorism texas track weather
Companies: CenterPoint Energy, Inc. (CNP), FPL Group Inc (FPL)
Nov 16, 2009 (SmarTrend(R) Spotlight via COMTEX) --
FPL Group (NYSE:FPL) upgraded to Equalweight, $53 target, at Morgan Stanley. The stock closed Friday at $51.14 on volume of 1,985,229 shares, below average daily volume of 2,690,067.
FPL Group is currently below its 50-day moving average of $52.97 and below its 200-day moving average of $53.42.
SmarTrend is bearish on shares of FPL and our subscribers received a Downtrend alert on September 02, 2009 at $55.49, which has returned 7.8% to date.
Write to Chip Brian at cbrian@tradethetrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.
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Tags: market nyse securities
Companies: FPL Group Inc (FPL)
JUNO BEACH, Fla., Nov 16, 2009 (BUSINESS WIRE) --
--FPL Has the Lowest Customer Bills of All 54 Utilities in Florida
--Customer Bills Will Be Going Even Lower Next Year
In its final brief to the state's Public Service Commission, Florida Power & Light Company (NYSE:FPL) said today that if the company's proposed base rate increase is approved, it will help support investments to keep customer bills low.
"Because of the investments we've made, our customers have the lowest bills in the state and reliability well above the national average. Those investments have helped produce massive fuel savings that will result in lower customer bills next year regardless of what happens with base rates. If our rate request is denied, we won't be able make needed investments in the electrical system. If it is approved, customer bills will still be lower than they were in 2009, and we will be able to continue to invest in making the system stronger, smarter, cleaner and even more efficient so that bills will remain low in the future," said Armando J. Olivera, FPL's president and CEO.
FPL's residential customer bills are the lowest of all 54 utilities in the state of Florida. A typical FPL customer using 1,000 kilowatt hours saves $25 a month compared to other Floridians, or $300 a year. FPL's typical bill is also 10 percent below the national average.
In its brief filed with the PSC, FPL explains that customer bills are low largely due to the significant investments the company has made in building one of the most fuel-efficient generation fleets in the nation. FPL's investments have saved customers nearly $3 billion in fuel costs compared with a 2002 baseline. Looking ahead, FPL estimates that these investments will save customers an additional $1 billion a year by 2014.
Future savings do not come at the expense of higher bills in the short term. FPL's efficiency improvements and lower fuel prices will result in the fuel portion of the typical customer bill declining by roughly $14 next year.
"Operating a power plant is not that different from operating a car. The more you spend on keeping the car running at peak performance, the less you spend on fuel. Conversely, the less you spend on keeping the car running at peak performance, the more you spend on fuel. The investments we make in improved efficiency pay off in the form of lower fuel bills," Olivera said.
In addition to efficiency, FPL has built a track record as a provider of reliable electrical service. On the basic measure of minutes without power, FPL's reliability is 47 percent better than the national average. FPL says that although the 2009 storm season was mild by historical standards, the company wants to continue making the system stronger against severe weather, which the rate request will support.
FPL is also a clean-energy provider, with more than 70 percent of its power coming from low-carbon natural gas and emissions-free nuclear power. As a result, FPL's carbon dioxide emissions rate is 40 percent better than the national average (roughly 800 pounds per megawatt hour compared to a national average of 1,350 pounds per megawatt hour) and among the very best in the country. To protect customers financially when a federal price on carbon dioxide is enacted, FPL says it is critical for the company to continue to invest in reducing the emissions rate of its generation fleet.
In order to carry out its plan to invest $16 billion in the state's electrical infrastructure over the next five years, FPL must preserve its financial strength. If FPL's credit quality is allowed to deteriorate, the company's ability to borrow and invest will be severely constrained, putting at risk FPL's ability to continue making its system stronger, smarter, cleaner and even more efficient.
Florida Power & Light Company
Florida Power & Light Company (FPL) is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves 4.5 million customer accounts in Florida and is a leading employer in the state with nearly 11,000 employees. The company consistently outperforms national averages for service reliability while customer bills are well below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and the No. 1 energy efficiency program among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based FPL Group, Inc. (NYSE:FPL). For more information, visit www.FPL.com.
FPL Group and FPL: Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically express or involve discussion as to expectations, beliefs, plans, objectives, assumptions or future events or performance, climate change strategy or growth strategies and often, but not always, can be identified by the use of words such as "will," "expect," "believe," "anticipate," "estimate," and similar terms. Forward-looking statements are not statements of historical facts and involve estimates, assumptions and uncertainties.
Although FPL Group, Inc. (FPL Group) and Florida Power & Light Company (FPL) believe that their expectations are reasonable, because forward-looking statements are subject to risks and uncertainties, the companies can give no assurance that the forward-looking statements contained in this press release will prove to be correct. Important factors could cause FPL Group's and FPL's actual results to differ materially from those projected in the forward-looking statements in this press release. Factors that could have a significant impact on FPL Group's operations and financial results, and could cause FPL Group's and FPL's actual results or outcomes to differ materially from those discussed in the forward-looking statements include, among others:
-- FPL Group and FPL are subject to complex laws and regulations and to changes in laws and regulations as well as changing governmental policies and regulatory actions. FPL holds franchise agreements with local municipalities and counties, and must renegotiate expiring agreements. These factors may have a negative impact on the business and results of operations of FPL Group and FPL.
-- The operation and maintenance of power generation, transmission and distribution facilities involve significant risks that could adversely affect the results of operations and financial condition of FPL Group and FPL.
-- The operation and maintenance of nuclear facilities involves inherent risks, including environmental, health, regulatory, terrorism and financial risks, that could result in fines or the closure of nuclear units owned by FPL or NextEra Energy Resources, and which may present potential exposures in excess of insurance coverage.
-- The construction of, and capital improvements to, power generation and transmission facilities involve substantial risks. Should construction or capital improvement efforts be unsuccessful or delayed, the results of operations and financial condition of FPL Group and FPL could be adversely affected.
-- The use of derivative contracts by FPL Group and FPL in the normal course of business could result in financial losses or the payment of margin cash collateral that adversely impact the results of operations or cash flows of FPL Group and FPL.
-- FPL Group's competitive energy business is subject to risks, many of which are beyond the control of FPL Group, including, but not limited to, the efficient development and operation of generating assets, the successful and timely completion of project restructuring activities, the price and supply of fuel and equipment, transmission constraints, competition from other generators, including those using new sources of generation, excess generation capacity and demand for power, that may reduce the revenues and adversely impact the results of operations and financial condition of FPL Group.
-- FPL Group'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.
-- FPL Group and FPL participate in markets that are often subject to uncertain economic conditions, which makes it difficult to estimate growth, future income and expenditures.
-- Customer growth and customer usage in FPL's service area affect FPL Group's and FPL's results of operations.
-- Weather affects FPL Group's and FPL's results of operations, as can the impact of severe weather. Weather conditions directly influence the demand for electricity and natural gas, affect the price of energy commodities, and can affect the production of electricity at power generating facilities.
-- Adverse capital and credit market conditions may adversely affect FPL Group's and FPL's ability to meet liquidity needs, access capital and operate and grow their businesses, and increase the cost of capital. Disruptions, uncertainty or volatility in the financial markets can also adversely impact the results of operations and financial condition of FPL Group and FPL, as well as exert downward pressure on the market price of FPL Group's common stock.
-- FPL Group's, FPL Group Capital's and FPL's inability to maintain their current credit ratings may adversely affect FPL Group's and FPL's liquidity, limit the ability of FPL Group and FPL to grow their businesses, and would likely increase interest costs.
-- FPL Group and FPL are subject to credit and performance risk from third parties under supply and service contracts.
-- FPL Group and FPL are subject to costs and other potentially adverse effects of legal and regulatory proceedings, as well as regulatory compliance and changes in or additions to applicable tax laws, rates or policies, rates of inflation, accounting standards, securities laws, corporate governance requirements and labor and employment laws.
-- Threats of terrorism and catastrophic events that could result from terrorism, cyber attacks, or individuals and/or groups attempting to disrupt FPL Group's and FPL's business may impact the operations of FPL Group and FPL in unpredictable ways.
-- The ability of FPL Group and FPL to obtain insurance and the terms of any available insurance coverage could be adversely affected by international, national, state or local events and company-specific events.
-- FPL Group and FPL are subject to employee workforce factors that could adversely affect the businesses and financial condition of FPL Group and FPL.
These foregoing factors should be considered in connection with information regarding risks and uncertainties that may affect FPL Group's or FPL's future results included in FPL Group's and FPL's filings with the Securities and Exchange Commission, which may be found at www.sec.gov or at www.FPLGroup.com.
Any forward-looking statement speaks only as of the date on which such statement is made, and FPL Group and FPL undertake no obligation to update or review any forward-looking statement to reflect events or circumstances, including 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 facts, may cause actual results to differ materially from those contained in any forward-looking statement.
SOURCE: Florida Power & Light Company
Florida Power & Light Co. Jackie Anderson, 305-552-3888
Tags: accounting acquisition business ceo commodity construction corporate electric utility electrical electricity employment energy energy efficiency environmental impact federal financial results florida inflation insurance investment labor law legal local natural gas nuclear nyse power plant president rates regulations residential restructuring securities standards tax terrorism track utilities weather
Companies: FPL Group Inc (FPL)
Nov 06, 2009 (SmarTrend(R) Spotlight via COMTEX) --
SmarTrend, our proprietary pattern recognition system, called a Downtrend for FPL Group (NYSE:FPL) on September 02, 2009 at $55.49.
Since then, FPL Group has returned 10.1% as of today's recent price of $49.91. Want to profit from these alerts?
Go to www.mysmartrend.com now for a FREE two-week trial.
Write to Chip Brian at cbrian@tradethetrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html
Tags: market nyse profit securities trial
Companies: FPL Group Inc (FPL)
Total : 170 View more »
Pudential says group capital position robust; Analysis by Lucy Macdonald of RCM http://www.clipsyndicate.com/video/playlist/1998/725252?cpt=8&wpid=523
http://www.zibb.com/article/4203392/Video+Pudential+Group+Capital+Position+Robust
FPL Energy* is a leading clean-energy provider with natural gas, wind, solar, hydroelectric and nuclear power plants in operation in 25 states and Canada. More than 90 percent of FPL Energy's electricity is generated by clean fuels.
FPL Group, Inc. and Duke Energy have announced a commitment to transition their company cars and trucks to plug-in hybrid or all-electric vehicles.
http://tdworld.com/projects_in_progress/announcements/fpl-duke-plug-in-hybrid-1009/
Home | Contact Us | Site Map Environment Sustainability Governance Annual Report Shareholder Services Stock Performance Global 100 Most Sustainable Company Ranked #1 for environmental performance 5 straight years #1 in the U.S. in Wind, Solar, and Energy Conservation One-third of all wind capacity
Total : 473,000 View more »
Companies featured in this segment: FPL Group Incorporated (NYSE:FPL), Siemens AG (NYSE:SI), GlaxoSmithKline plc (NYSE:GSK), AstraZeneca plc (NYSE:AZN), Schering-Plough Corporation ...
http://financialmarkets.industrialinfo.com/industrialinfo?Ticker=FPL&Page=QUOTE
Investor-owned utility company providing electric power throughout Florida, a national provider of electricity services.
Gexa Energy provides electric plans for residential customers in Texas as well as commercial customers in Texas, Connecticut, Illinois, Maine, Maryland and Massachusetts. Sign up ...
With annual revenues of more than $16 billion and a presence in 27 states and Canada, FPL Group is one of the nation’s largest providers of electricity-related services and is ...