Energy company FPL Group Inc. (FPL) today reported adjusted net earnings of $1.38 per share for the third quarter of 2009, in line with the Zacks Consensus Estimate of $1.39 and above $1.25 reported last year. The improvement from last year’s results was due to positive contributions from FPL’s NextEra Energy Resources subsidiary, offset by a decline in customer base at the Florida Power & Light subsidiary.  Total revenue during the quarter declined to $4,473 million from $5,387 million a year ago. Revenue at Florida Power & Light Company declined 3.6% year-over-year to $3,301 million, primarily due to the economic challenges faced at Florida. NextEra Energy Resources’ revenue in the quarter was down 40.7% from last year at $1,136 million, due to unfavorable market conditions for the company’s fossil power plants in Texas and below normal wind resource across the fleet.  At Florida Power & Light ...

Florida Power & Light, a FPL Group (FPL) company, recently submitted its mid-year fuel report to the Florida Public Service Commission (FPSC), which contains the detail of the fuel expenses incurred during the first half of 2009. It has also presented the fuel cost estimates for 2010 to the commission.   Florida Power & Light’s current fuel bill is running nearly 6% lower than initial estimates and it expects to pass on the benefit to customers on their 2010 bills, if the trend continues. The company estimates the bills for residential customers using 1,000 kilowatt hours of electricity per month to decline to around $100 in January 2010 from roughly $109 in December 2009. This, however, is subject to necessary approvals by the FPSC.   Florida Power & Light’s latest estimates include the impact of its pending request for a base rate adjustment (filed to the FPSC earlier ...

MasTec Inc. (...

MasTec Inc. (...