nextera energy scandal

10 Takeaways from the IEA's Newest World Energy Outlook. Artiles is facing several felony charges for allegedly recruiting and paying an auto-parts dealer who shared the same surname as the Democratic incumbent in the race for Senate District 37 to run as a no-party candidate and confuse voters and influence the outcome of the 2020 election, according to his arrest affidavit. That scheme included over half a million dollars spent on political mailers promoting the spoiler candidates. Its frustrating to see the Public Service Commission express no interest or concern in Floridas largest investor-owned utility company engaging in questionable smear campaigns and potentially illegal election activity while they increase rates, she said Wednesday. The retirement and subsequent. Pimentel has been a well-known but low-key power industry figure whose familiarity with NextEra suggests he will provide consistent leadership for with NextEra's top subsidiary, said Glenrock Associates utility analyst Paul Patterson. Floridas largest utility has a lot of explaining to do after news organizations revealed some unseemly conduct. NextEra Energy CEO James Robo responded to a question from a Bank of America Securities analyst and said the company had FPL CEO Eric Silagy turn over emails and text messages and concluded. 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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. He also was instrumental in the 2019 political campaign against the so-called energy choice petition drive, which was opposed by FPL and other utilities. Date. Court documents obtained by the Miami Herald, as part of the state attorneys investigation, have shown that as part of the ghost candidate scheme Lets Preserve the American Dream paid former state Sen. Frank Artiles $125,000 for research and paid Grow United $1.15 million. They asked if the PSCs review was enough. 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. You want to measure economic success? 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. Our Standards: The Thomson Reuters Trust Principles. Click to email a link to a friend (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Reddit (Opens in new window), Utility Front Group Advertisement Tracker, American Coalition for Clean Coal Electricity, Gas utilities push RNG and hydrogen to expand fossil fuel infrastructure, AGA uses millions of dollars from utility customers to promote a fossil fuel agenda, Internal documents detail how gas utilities greenwash RNG and hydrogen, Front groups and trade associations funded by gas utilities fight electrification policies, List of deceptive RNG and hydrogen projects, Major investors find electric utilities are not on track to meet decarbonization goals. See here for a complete list of exchanges and delays. 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. In some parts of our organization there are capacities way beyond their need and that needs to be rectified, CEO Jochen Eickholt said in a conference call with analysts. Pomerantz said the goal of moving to zero emissions is a very good one, but he questions the feasibility of using hydrogen as a major part of generating electricity. 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. They then asked the PSC to supply answers to a series of questions about FPLs political spending that included: How was the $14 million FPL spent in 2018 on a nonprofit called Mothers for Moderation used and was any of it passed to other organizations at FPLs direction or with FPLs knowledge?. Some critics of Florida Power & Light, like Alissa Jean Schafer of watchdog group Energy Policy Institute, have welcomed Pimentels uneventful background. 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. 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. The legislators responded on Jan. 10, saying they considered the PSCs review incomplete given the news stories. Despite climate action often being frustrated by Republican leaders in Congress and at the local level, states with Republican governors and a majority of Republican state legislators are leading the nation in solar and wind. as reported by Miami Herald last December. Alvarados firm, Alvarado Strategies, was paid by three political committees with connections to Associated Industries of Florida (AIF), a corporate interest group with strong utility ties. FPL engaged with dark money political committees to keep their profits safe in the wake of proposed legislation. 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. Director, Pres & CEO of Sub of Nextera Energy Inc (30-Year Financial, Insider Trades) Eric E Silagy (insider trades) sold 14,131 shares of NEE on 04/07/2021 at an average price of $78 a share. You can keep up with her work on her site Environment.co. Energy Fairness played a role in setting up an attack on rooftop solar in 2020, via Florida Representative Lawrence McClure. The legislators responded on Jan. 10, saying they considered the commissions review incomplete given the news stories. On Tuesday, it became clear that Wall Street had noticed the stories. 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 investigation by the Federal Election Commission into the companys political giving. In November 2021, for example, the company spent $20 million to ban the 145-mile transmission line needed to transport clean energy in Maine. There are two civil lawsuits in the mix as well. Go to the kitchen tables of America. Nowhere in its 2021 ESG report does NextEra even mention methane . They cited the utilities expert, Karl Rabagos testimony in the rate case, in which he noted that FPL spent millions of dollars in dues paid to certain politically active trade associations and cited the PSCs own documents in the rate case. To help figure this out, I reached out to David Pomerantz, who makes a living investigating utility companies as executive director of the Energy and Policy Institute, a nonprofit watchdog organization. When asked by a Bank of AmericaSecurities analyst on a recent earnings call, NextEra CEO James Robo explained that he orderedFPL CEO Eric Silagy to turn over emails and other written communication, primarily focused onFLs work with two political committees: Grow United and Lets Preserve the AmericanDream, both tied to Simpson. 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). This is not the first cycle that a well-funded third party candidate has upset a campaign by a close margin, and its not the first where those candidates have had at least some connection to Artiles and Florida utilities. Canopy was started by former Matrix employees, led by Jeff Pitts. NextEra Energy is on the receiving end of a proposed class action lawsuit in which a Nebraska homeowner alleges the electricity provider's wind turbines placed near residential communities are a "nuisance" and effectively deprive homeowners of the use and enjoyment of their property. FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE), a clean energy company widely recognized for its efforts in sustainability, corporate responsibility, ethics and . The state senate districts were 9, 37, and 39. At the end of the earnings call, Robo announced he will be retiring from his position on March 1 and John Ketchum, currently president and CEO of NextEra Energy Resources, will succeed him. Eskamani of Orlando said Baezs response left her unsatisfied. Florida members of Congress have formally requested Attorney General Merrick Garland open an expansive corruption investigation to look into the source of potentially illegal funds used by Artiles. Bradleys political committee, Women Building the Future, has taken $47,500 from investor-owned utilities, with $12,500 coming from NextEra Energy and $35,000 from TECO. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. In this first story in a series, I look at how the plan has divided the community and strained relationships between longtime friends and neighbors. In the race for Perrys seat in 2018, an organization called Broken Promises donated over $130,000 to the political committee Friends of Charles Goston.. The reports show that Florida Power & Light hired a political consulting firm that engaged in dirty tricks to harm or otherwise neutralize the companys perceived opponents, including elected officials and journalists. Florida Power & Light has a monopoly on power in Florida. Armando Pimentel, who held executive roles in finance at NextEra for more than a decade before retiring in 2019, is coming back in what investors hope will mark the end of FP&Ls era of political and campaign-finance scandals. Id. Matrix LLC has since sued several former employees, including its ex-CEO Jeff Pitts, accusing them of conspiring with FPL's parent company NextEra Energy Inc. to work on secret projects . An early adopter of renewable power generation, NextEra is the third-largest U.S. energy company by market capitalization behind Exxon Mobil and Chevron. 2. Every day or once a week, our original stories and digest of the webs top headlines deliver the full story, for free. Who will build the $6 billion road and bridge projects underway in Tampa Bay? Dan Gearinos habit-forming weekly take on how to understand the energy transformation reshaping our world. We know about FPLs actions thanks to reporting by the Orlando Sentinel, Miami Herald and The Florida Times-Union, some of it in partnership with the nonprofit Floodlight. The closest NextEra has come is a promise to reduce its carbon emissions rate (i.e., emissions per unit of energy) 67% below 2005 levels by 2025. Before that, he covered politics and business in Iowa and in New Hampshire. Clarification: This story was updated on January 27, 2022, to reflect that the Jacksonville job was arranged by consultants for FPL, not directly by the company. "They probably chose him to be a steady the ship-type figure," said Jack Dearing, an analyst with Washington-based Capstone LLC, which advises investors and companies on policy issues. Another political committee that supported Goston, the third-party spoiler candidate in 2018, has financial connections to a group that appears to have utility connections. 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. The Florida Public Service Commission reaffirmed the states current net metering rule in 2019 after the utilities last effort to weaken it, calling it an effective way to promote solar in the net-metering workshop held at the request of McClure. Alabama political firm and former NextEra consultant Matrix LLC, led by Joe Perkins, sued Canopy LLC, another firm allegedly working with NextEra. The company was trading well above its peers before news that Silagy would leave his post this month and depart the company in mid-May. Has FPL ever given money to another nonprofit who worked with the consultants Lets Preserve the American Dream? That said, he acknowledges there is a cognitive dissonance between NextEras status as a major player in the transition to renewable energy and FPLs status as a utility that relies heavily on fossil fuels, with a reputation for fighting dirty in defending its interests. The 145-mile (233-kilometer), nearly $1 billion transmission line, known as New England Clean Energy Connect, broke ground in February after nearly three years of review by regulators. The club is suing, What makes Knaus Berry Farm such a landmark? Pimentel replaces outgoing FP&L CEO Eric Silagy, who joined NextEra roughly two decades ago, worked as a top lobbyist for the company and has been at the center of some of its publicity problems. The messy business of being 'green'. 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 NextEra's crown jewel utility, analysts say: stay out of the headlines. NEW YORK, Feb 28(Reuters) - The new head of Florida Power & Light (FP&L) has at least one important objective above and beyond running U.S. power giant NextEra's crown jewel utility, analysts say: stay out of the headlines. NextEra Energy CEO James Robo responded to a question from a Bank of America Securities analyst and said the company had FPL CEO Eric Silagy turn over emails and text messages and concluded there was no evidence of illegality or wrongdoing on the part of FPL or any of its employees.. Mary Ellen Klas: meklas@miamiherald.com and @MaryEllenKlas. This effort takes a lot of resources to gather and update. In response to the stories, FPL has repeatedly denied any wrongdoing. 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. The Orlando Sentinel connected Republican consultant Alex Alvarado to the production and printing of the mailers for the third-party candidates in October. Unlike other companies that actively work toward creating clean energy, NextEra stumbled into the renewable energy industry somewhat unintentionally. Perry has received $13,500 in direct political donations from Florida utilities, including $1,000 from NextEra, $2,500 from NextEra company Gulf Power, $4,500 from Duke, and $5,500 from TECO, according to campaign finance filings. Watchdog exposing the attacks on renewable energy and countering misinformation by fossil fuel interests, Artiles close relationship with NextEra Energy and Florida Power & Light included NASCAR perks, campaign contributions. I dont think youre going to see any headlines like that (with Pimentel). Pimentel was CEO of NextEra Energy Resources, the companys unregulated arm focused on renewable power, for eight years before retiring in 2019. 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. We have welcomed Armando Pimentel back to our company and have confidence that he will use his deep industry and company experience to further strengthen the FPL organization, NextEra Energy spokesperson David Reuter said. In Florida, DeSantis May End the Battle Over Rooftop Solar With a Pen Stroke - Corruption by Cops, In Florida, DeSantis May End the Battle Over Rooftop Solar With a Pen Stroke - Earth2, Utility executive contributions surge in Minnesota state senate race - Energy and Policy Institute, Amid Connections to Ongoing Election Scandals, NextEra Pours Millions into Floridas 2022 Election Cycle - Energy and Policy Institute, Southwest Gas aims to make customers pay for its American Gas Association membership dues. That political power has helped FPL to secure a return on equity of 10.6% in the latest rate increases that it secured from regulators much higher than the national average for utilities. 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.. A digest of the most pressing climate-related news, released every Tuesday and Friday. I dont expect much of a change, leaving aside all of the stuff going on with the outgoing CEO, Patterson said. A day later, Public Service Commission chairperson Andrew Fay responded with an unequivocal rejection of their request, saying that the commission has a long-standing prohibition on the inclusion of lobbying and other expenses, which have been determined to bring no benefit to ratepayers, among the expenses to be recovered through rates charged to the public for service., Fay added that when FPL filed its rate request, the appropriate auditing function was conducted during the commissions consideration of the most recent FPL rate case, and the audit produced no evidence that FPL used, or was intending to use, ratepayer funds for the private benefit of the companys lobbying, campaigning or marketing affairs.. Sources report that the current NextEra investigation may be part of a wider probe into ethicalcomplaints against Simpson, the Senate President, including allegations that campaign moneywas spent to cover the fact that he fathered a child out of wedlock with a lobbyist for the Publixsupermarket chain. While it is not illegal to conspire to place a third-party candidate into an election, paying for that placement and failing to properly report the money involved is. Inside Clean Energy is ICNs weekly bulletin of news and analysis about the energy transition. The other candidate later revealed that he had been bribed to run. Internal documents obtained by the Sentinel show that Silagy used a pseudonym email Theodore Hayes to communicate with consultant Jeff Pitts, who controlled Grow United, with the memos noting that one goal was to minimize all public reporting of entities and activities.. The 145-mile (233-kilometer), nearly US$1 billion transmission line, known as New England Clean Energy Connect, broke ground in February after nearly three . 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. News images are from video content on CNNs YouTube Channel. Bainter and Data Targeting have been the focus of suspected misdeeds over the years. Since 2020, Florida-based news organizations have reported about FP&Ls role in questionable political and campaign finance-related activity. NextEra Energy CEO James Robo responded to a question from a Bank of America Securities analyst and said the company had FPL CEO Eric Silagy turn over emails and text messages and concluded. Artiles has been connected to Florida utilities, including NextEra and its subsidiary Florida Power and Light (FPL), for years. Alabama political firm and former NextEra consultant Matrix LLC, led by Joe Perkins, sued Canopy LLC, another firm allegedly working with NextEra. FPL has also donated $20,000 to Perrys political committee, Building a Prosperous Florida, while TECO has donated $2,500. They probably chose him to be a steady the ship-type figure, said Jack Dearing, an analyst withWashington-based Capstone LLC, which advises investors and companies on policy issues. 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 . The shady business practices of FPL, as well as the discrepancy between NextEra being a catalyst in the clean energy movement while FPL relies on fossil fuels, may not bode well. Rodriguez has pleaded guilty and agreed to cooperate with prosecutors. Can the PSC provide a complete list of 501(c)4 social welfare organizations that FPL has provided funding to over the past five years? Its hard to predict what the scandal will mean for clean energy in the future or if it will have any effect at all. Siemens Gamesa, a Leading Maker of Wind Turbines, Is Struggling: Wind turbine maker Siemens Gamesa lowered its financial outlook for 2022 and said it expects to lose money this year and next as it deals with high costs of raw materials and tough competition. To the larger question of NextEras public image, Pomerantz answers with a question: What happens when the companys reputation as an unethical actor extends to their clean energy efforts? he asked. "We have welcomed Armando Pimentel back to our company and have confidence that he will use his deep industry and company experience to further strengthen the FPL organization, NextEra Energy spokesperson David Reuter said. Pasco park restaurant plans must wait for study of nearby burial mound, Tampa race has 4 candidates, including 2 council veterans, seeking open seat, St. Petersburg, Tampa Bay Rays to discuss these 9 topics about Tropicana Field, Rays Tyler Glasnow sustains oblique injury during practice, Hillsborough must right-size its school system | Editorial. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. It depends on how trustworthy community members find NextEra in the coming months and how that support affects any proposed clean energy legislation. Earlier this month, the reporting by the Orlando Sentinel, Florida Times-Union, and the Miami Herald prompted four Democratic lawmakers to ask state regulators to conduct an audit of FPL, the largest utility company in the nation and a monopoly regulated by the Florida Public Service Commission. All quotes delayed a minimum of 15 minutes. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Theres a recipe in triumph and tragedy, Company run out of a Brooklyn walk-up shorted Florida produce packers $159,000 in pay, What Is Chapter 13 Bankruptcy? The energy company that runs the Florida Power & Light utility, as. Dont miss a beat. In a Jan. 5 letter, they asked the commission to determine whether the company was using ratepayer money for political purposes. Alissa Jean Schafer is a research and communications specialist at the Energy and Policy Institute. NextEra Energy, Inc. (NYSE:NEE) Q4 2022 Earnings Call Transcript. It was also announced that Silagy, the president and CEO of FPL, will take on the added responsibility of chairman of FPL. Bradley and McClure have both taken tens of thousands of dollars in political contributions from Floridas investor-owned utilities. Crews said last month in a call with analysts that he is confident in the companys long-term plan to continue increasing development of wind, solar and batteries. If you havent already subscribed, please consider buying a print or digital subscription. Matrix spent big money on advertising for another candidate with the same last name as Rodrguez to split the vote. Dan Gearino covers the midwestern United States, part of ICNs National Environment Reporting Network. The documents also showed that Silagy coordinated with the political consultants to steer campaign contributions made through nonprofits in past elections. Possible outcomes from this scandal include increased wariness of NextEra from individuals and politicians, which could put the growth of clean energy at risk. For example, Richard Alexander, who lives in Cullman, Alabama, 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 papers also reported that a member of the Jacksonville City Council who didnt want to sell the citys utility company to FPL was offered a job that was arranged by consultants for FPL in an unsuccessful attempt to get him to resign from the commission. TALLAHASSEE Recent revelations about Florida Power & Lights involvement in a dark money scheme to siphon votes away from Senate Democratic candidates prompted its parent company to conduct an internal investigation, NextEra announced at an earnings call Tuesday. FPL spokespeople denied that FPL had any role in the spoiler candidate scheme in a comment to the Sentinel. History of Power: Dominion Energy's Fluid Transition. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. NextEra Energy ( NEE -1.10%) reported its first-quarter 2022 earnings yesterday, and its stock has been tumbling ever since. The no-party candidate, Alexis Alex Rodriguez, who did not campaign, received more than 6,000 votes. It begs the question of who the PSC serves is it Floridians or is it utility companies?. An internal NextEra investigation found no wrongdoing, executives on the companys latest earnings call said, adding that Silagys departure was unrelated to any controversies. It was also announced that Silagy, the president and CEO of FPL, will take on the added responsibility of chairman of FPL. Click to email a link to a friend (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Reddit (Opens in new window), Utility Front Group Advertisement Tracker, American Coalition for Clean Coal Electricity, Gas utilities push RNG and hydrogen to expand fossil fuel infrastructure, AGA uses millions of dollars from utility customers to promote a fossil fuel agenda, Internal documents detail how gas utilities greenwash RNG and hydrogen, Front groups and trade associations funded by gas utilities fight electrification policies, List of deceptive RNG and hydrogen projects, Major investors warn utilities against carbon capture and offsets, obtained and published by Orlando Sentinel, According to reporting from the Orlando Sentinel. In all races, the Republican won the []. 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