POWERING TODAY.EMPOWERING TOMORROW.®

A Developer’s Perspective on New

Nuclear Plant Deployment

March 18, 2009

Steven D. ScroggsSenior Director, Project Development

Florida Power & Light Company

“ We believe meeting our customers’ need for reliable power must go hand in hand

with preserving the environment.”

-Lew Hay

FPL Group Chairman and CEO

Cautionary Statements and Risk Factors That May AffectFuture Results

Any statements made herein about future operating results or other future events are forward-looking statements under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, for example, statements regarding anticipated future financial and operating performance and results, including estimates for growth. Actual results may differ materially from such forward-looking statements. A discussion of factors that could cause actual results or events to vary is contained in our SEC filings.

Topics Lessons from our History

A Developer’s perspective:

What decisions must be made?

What are the roles of government?

What are the roles of industry?

What is needed to succeed?

Nuclear Industry History Teaches Lessons

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1980 1985 1990 1995 2000 2005

Units Entering Service

afterTMI

• 116 units under construction at the time of Three Mile Island (TMI):

• 66 were cancelled • 50 completed

•average delay of 6.3 years

Cost Overruns Existed Before TMI

Cost overruns were the result of multiple issues: Regulatory uncertainty Design changes & ineffective management Economic pressures

o demand destruction, inflation

Construction Start

Estimated Construction

Cost Actual Cost to

CompleteAmount Over

Estimate

($/kw, 2002) ($/kw, 2002) (%)

1966-67 $560 $1,170 109%

1968-69 $679 $2,000 195%

1970-71 $760 $2,650 249%

1972-73 $1,117 $3,555 218%

1974-75 $1,156 $4,410 281%

1976-77 $1,493 $4,008 168%

What Decisions?

Key Decisions(Going to the Big Dance)

Who are you going to the dance with?

How will you manage the expectations of all stakeholders?

When do you step on the gas, when do you step on the brake?

How aggressive should you be?

Is everyone onboard when you are at the commitment point?

As Important is How you make Decisions

Decide what you can, when you can

Collect, analyze, discuss, collect more…

Manage risk in a way that creates alignment

Assess, act, repeat…

Learn from others, share with others

There can be no single successful project

The Role of Government

Allow us to do our job

Provide Regulatory Certainty

Predictability of Review Process

Finality of decisions

Uphold commitments

The Role of Industry

Deliver No Excuses

Timing has positioned our product with unprecedented advantages

No Special Treatment

The economics work

No Mistakes

Existing Operations and New Construction Execution

What is Needed?

Commitment Regulatory relationships that are allowed to:

Leverage expertise, respect and communication between agencies

Administer the existing statutes and rules

An industry that will: Acknowledge that we have to earn the support of the public

Challenge accepted business models and relationships to develop creative, flexible execution teams