The bill outlines a reduction to the credit, which would dramatically limit the number of people who could affordably lease or buy panels. While FPL maintains they didnt know the full extent of what the firm was doing, piles of leaked emails and texts say otherwise. An early adopter of renewable power generation, NextEra is the third-largest U.S. energy company by market capitalization behind Exxon Mobil (XOM.N) and Chevron (CVX.N). He grew up in Warren County, Iowa, just south of Des Moines, and lives in Columbus, Ohio. In November 2021, for example, the company spent $20 million to ban the 145-mile transmission line needed to transport clean energy in Maine. He was previously chief financial officer of NextEra Energy, a partner at Deloitte & Touche and an accounting fellow at the U.S. Securities and Exchange Commission. Operator: Good morning, and welcome to the NextEra Energy and NextEra Energy Partners Fourth Quarter 2022 Earnings Call. In 2018-19, Mary Ellen was a Nieman Fellow at Harvard University. Ive been spending time in Williamsport, Ohio, to look at the debate over the solar proposal. I know theres been a lot of back and forth and perhaps theres a lot of context to provide there. Dumoulin-Smith is director of U.S. Power, Utilities and Alternative Energy Equity Research for Bank of American Securities. When McClure first introduced the concept of changing Floridas net metering policy in 2019, he had already taken over $20,000 from investor-owned utilities. Consumers for Energy Fairness does not have a website or any public presence, but it spent over $5,000 with the public affairs firm McNicholas & Associates on beverages and food in 2019. Entergy, which donated $10,000 to the Party and [], [] has not shied away from shady political dealings in the past. On Wednesday, FPL spokesperson Chris McGrath denied that FPL was involved in the ghost candidate scheme. Through skillful manipulation of the credits, NextEra from 2005 to 2009 'paid just $88 million in taxes on earnings of nearly $7 billion,' Business Week reports. The no-party candidate, Alexis Alex Rodriguez, who did not campaign, received more than 6,000 votes. This is a very good deal for the climate.. I reported this story with Tracy Wholf, coordinating climate producer for ABC News, and we also worked together on a special episode of ABCs podcast Start Here that delves into the nuanced concerns on both sides of the conflict. He said that federal rules prohibit the PSC from including political expenses in the rate base and the company did not include these expenses as part of their supporting documentation and concluded that rates are not based upon costs for such prohibited purposes., Baez also defended the PSCs use of sampling as a means of auditing FPLs expenses saying it is common in all disciplines that use large amounts of data.. Enforcement for funneling money through a partisan political committee to a ghost candidatescheme that has already resulted in felony charges against five political operatives. Dan Gearino covers the midwestern United States, part of ICNs National Environment Reporting Network. Its useless at this time because theres nothing out there and the cars that you do find, everythings gone up in price.. Bainter was also heavily involved in Perrys campaign and was suspected by some observers to have orchestrated the funding behind Gostons third-party candidacy, which may have included funds connected to a utility front group. Life expectancy in the U.S. fell during the same period that a Reagan-era law raised the retirement age by two years. For example, Richard Alexander, who lives in Cullman, Ala., and not only chairs Grow United, he also has been tied to groups that were created to promote the agenda of Floridas powerful sugar and electric utilities industries, according to the Orlando Sentinel. The reporting also found that the same FPL consultants have been involved in setting up front groups to advance FPLs political agenda, and paid activists to promote FPLs interests. According to sources, NextEra subsidiary Florida Power & Light (FPL) funneled millions of dollarto run so-called ghost candidates in Florida state Senate campaigns. As the biggest player in the game, investors, politicians, and civilians rely on NextEra to play a major role in encouraging and supporting clean energy legislation. Republican Ileana Garcia won the election by 32 votes. Consumers for Energy Fairness own expenditures have gone to Republican candidates and Republican-affiliated PACs that have also received funding from the states utilities, like Jobs for Florida and Floridians for Economic Freedom. Shares of NextEra sank late last month by nearly 9%, their biggest daily drop in more than two years, after the company abruptly announced Silagy would retire under the threat of a formal. The retirement and subsequent. Sources contacted were unsure the degree to which Governor DeSantis was aware of the FPLpayments and the alleged illegitimate child. He started by questioning my premise that NextEra has a good reputation while its subsidiary, FPL, has taken some serious hits. A former NextEra colleague of Pimentels, who spoke on the condition of anonymity, said Pimentel was a straightforward, fact-based and driven coworker with a calm temperament. Jim Robo, the current chairman and CEO, will become executive chairman for a transition period, and it is anticipated that Mr. Ketchum will also be appointed to the company's board of directors effective . With the Florida state senate hanging in the balance in the 2020 election, a network of dark-money groups engineered a brazen scheme to siphon votes from Democrats to third-party ghost candidates in three of Floridas legislative elections, all of which were won by Republicans, two by razor-thin margins. We take all allegations seriously, and weve found no evidence that either FPL or our employees had any involvement in, financially supported, or directed any third party to support ghost candidates during last years Florida election cycle, he said. That scheme included over half a million dollars spent on political mailers promoting the spoiler candidates. Last week, Seaport Global Securities downgraded NextEras stock from buy to neutral, citing concerns about growing media scrutiny of FPLs lobbying practices. But NextEras stock price has risen since then, largely in reaction to Sen. Joe Manchins announcement he is supporting clean energy legislation, which is good news for companies developing wind, solar and batteries. The Florida Legislative Session begins January 11, 2022. His political committee, Veterans for Conservative Principles, received nearly $13,000 from NextEra and $5,000 from Duke. The scandal brings light to the measures electric companies will go to in order to protect their profits even those that claim to be in favor of pursuing renewable energy. (Rooftop solar systems generally last for 25 years or longer.) Inside Clean Energy is ICNs weekly bulletin of news and analysis about the energy transition. McClure also worked closely with utility front group Energy Fairness, as reported by the Energy and Policy Institute. [] utility Florida Power & Light backed the legislation, and, according to an investigation by the Energy and Policy Institute, a watchdog group, donated tens of thousands of dollars in [], [] more brazen attempt to interfere in state politics, FPL executives including Silagy were closely connected to a state election scandal that involved recruiting and funding sham candidates to siphon votes away from incumbent Democrats [], [] Herald. NEW YORK(Reuters) The new head of Florida Power & Light (FP&L) has at least one important objective above and beyond running U.S. power giant NextEras crown jewel utility, analysts say: stay out of the headlines. China: A World Powerhouse . In the 2020 cycle alone, the Florida Republican Senate Campaign Committee (FRSCC) reported over $7 million dollars in expenditures to Data Targeting, for services including research, polling, advertising, campaign staff, and line items only reported as consulting. Nearly $183,000 of FRSCCs spending with Data Targeting was earmarked for the Senate District 37 race, the same race that led to Artiles arrest. Learn More 2022 ESG Report TOP 20 in the world for innovation, according to Fortune NextEras executives and shareholders have reason to worry, but its too soon to know how much. Director, Pres & CEO of Sub of Nextera Energy Inc (30-Year Financial, Insider Trades) Eric E Silagy (insider trades) sold 28,564 shares of NEE on 03/15/2021 at an average price of $75.63 a share. Since then, the legislature replaced the previous leader of that office, J.R. Kelly, with a former utility lobbyist, Richard Gentry. Their power over utilities in Florida was challenged by legislation proposed by the Democratic Senator of Florida, Jos Javier Rodrguez, in 2019. Real-time updates and all local stories you want right in the palm of your hand. Where the scorpions on the corner just might kill you. Id. In one case, one of those three committees got $115,000 from an Associated Industries-controlled group and immediately paid $104,909 to Alvarado Strategies, the Sentinel reported. But the company is limited in what it can do to defend itself because of reams of evidence, in leaked emails and texts, showing that company executives were aware of at least some of what was happening. But it will be take more than a change of guard for the utility to shake off the scandals that took place under Silagy, said Schafer. Though this bill had massive potential to make clean energy more accessible for everyday people, FPL realized their profits would be cut if it were passed. Robo responded: Sure, Julian, I think you know, on some of the Florida political headlines I think what Id like to say on that is pretty simple., He said that when the company received the report and those allegations that have been in the press, we conducted a very extensive and thorough investigation that included looking at company financial records and include looking at everyone who was named and its company emails. He said those involved all provided access to their personal emails and texts to us as part of that investigation., He concluded: The bottom line is we found no evidence of any issues at all, any illegality, or any wrongdoing on the part of FPL or any of its employees., Robo added that he felt very good about the investigation that we did, and I feel very good that there is, you know, no basis to any of these allegations. So, thats probably all that were going to say on that today.. The no-party candidate, Alexis Alex Rodriguez, who did not campaign, received more than 6,000 votes. FPL engaged with dark money political committees to keep their profits safe in the wake of proposed legislation. Prior to his resignation, Artiles fast-tracked pro-utility bills as former chairman of the Florida Senates Communications, Energy and Public Utilities Committee, including one that would have allowed NextEra to charge its Florida customers for exploratory fracking in Oklahoma, an attempted end-run around a Florida Supreme Court ruling against FPL on the matter. See here for a complete list of exchanges and delays. On January 24th, the stock of renewables pioneer NextEra - now the U.S.'s largest utility company - dropped 8.8% on news the head of its FP&L unit was retiring. New Bucs offensive coordinator Dave Canales staff nearly set. Floridas largest utility has a lot of explaining to do after news organizations revealed some unseemly conduct. Despite its position as a renewable energy generator, the company has been shrouded in controversy - the most recent of which has to do with Florida Power & Light (FPL), one of the companies operating beneath them. NextEra, TECO, and AIF did not respond to a request for comment. Sources explain that inthe scheme, Senate President Wilton Simpson, a Republican endorsed by both PresidentDonald Trump and Governor Ron DeSantis, received FL contributions through the FloridaRepublican Senatorial Campaign Committee (FRSCC). Artiles has been connected to Florida utilities, including NextEra and its subsidiary Florida Power and Light (FPL), for years. Both South Florida mailers for Alex Rodriguez and Celso Alfonso and Central Florida mailers for Jestine Iannotti featured identical text, focused on fixing health care, fighting climate change, and speaking truth to power. The nonprofit committees were set up by political consultants working for FPL, who had consulted with Silagy, according to reporting by the Orlando Sentinel, the Miami Herald and the Florida Times-Union. Pimentel has been a well-known but low-key power industry figure whose familiarity with NextEra suggests he will provide consistent leadership for with NextEras top subsidiary, said Glenrock Associates utility analyst Paul Patterson. The Orlando Sentinel connected Republican consultant Alex Alvarado, Jobs for Florida and Floridians for Economic Freedom, attack on rooftop solar in 2020, via Florida Representative Lawrence McClure, NextEra, Florida utilities closely aligned with election fraud suspect Frank Artiles DangerousWombatDream, NextEra, Florida utilities closely aligned with election fraud suspect Frank Artiles shoukhin vlog, Records Show Senior Florida Power & Light Execs Closely Connected to Election Scandals - Energy and Policy Institute, Louisiana Democratic Party Funneled Utility Donations to Climate Candidate Challenger - DeSmog, Louisiana Democratic Party Funneled Utility Donations to Climate Candidate Challenger | Climate Change, Louisiana Democratic Party funneled utility donations to climate candidate's - Tools for Investors | News, Louisiana Democratic Party Funneled Utility Donations to Climate Candidate Challenger CommunistNews.net, Louisiana Democratic Party funneled utility donations to climate candidate challenger - Verite, Michigan utilities front groups begin misleading ad campaigns ahead of a vote on energy legislation. ICN provides award-winning climate coverage free of charge and advertising. The scandal ballooned last week when three more arrests were made, including of Ben Paris, the chair of the Seminole County (FL) Republican Executive Committee. NextEra Energy ( NEE -1.10%) reported its first-quarter 2022 earnings yesterday, and its stock has been tumbling ever since. A digest of the most pressing climate-related news, released every Tuesday and Friday. A former NextEra colleague of Pimentel's, who spoke on the condition of anonymity, said Pimentel was a "straightforward, fact-based and driven" coworker with a calm temperament. This reporting has raised significant questions around the potential of ratepayer funds being used to not only influence elections but to undermine democracy through fake candidate schemes, astroturfing, and attempted bribes, wrote state Reps. Anna Eskamani, Carlos Guillermo Smith, Angie Nixon and Travaris McCurdy. 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