NextEra (NEE) Unit Provides Useful Energy Conservation Tips

NextEra Energy, Inc.’s (NYSE:NEE) unit, Florida Power & Light Company (“FPL”) is focused on leveraging modern technologies for controlling costs. The company recently offered essential tech-savvy tips to its customers which will help bring their energy usage under control.

Backed by smart investments in high-efficiency energy centers, FPL has been trimming fuel costs and enabling customers to save more than $8 billion in electricity bills since 2001. The company is known for recording one of the lowest electric bills in the state, which is also 30% lower than the national average.

Technology to Conserve Energy

FPL's Online Energy Dashboard allows customers to track how much energy they are using on a monthly, daily and even on an hourly basis. The smart technologies will allow users to efficiently utilize energy and save money. FPL further advised customers to use smart thermostats and plugs to control energy consumption.

NEXTERA ENERGY Price

In addition, customers may replace their traditional incandescent bulbs with LED lights as these use 90% lesser energy and last up to 10 times longer. By installing variable speed pool pumps, they will also be able to generate savings of $100 a year on reducing the pool pump’s daily run time.

Smart Moves to Trim Costs

Customers were offered tips that they can follow throughout the year to manage energy costs. According to FPL, smaller appliances for cooking that use lesser energy should be used. Also, proper maintenance of electrical gadgets, which includes turning of them after use, should save energy and reduce bills.

The Reason Behind

We note that the mild winter hurt the revenues of electric utilities last quarter. Nevertheless, a normal summer could spur the demand for utilities again. This will, in turn, benefit electric utilities like NextEra Energy and Spark energy, Inc. (NASDAQ:SPKE) among others.

Meanwhile, the ongoing economic recovery in Florida is allowing FPL to expand its customer base consistently. With this energy conservation guide in place, the company would enable energy conservation and reduce energy wastage, which will allow it cater to the increasing demand more efficiently.

Peers’ Initiatives

Educating customers about the proper utilization of electricity and lowering wastage could help utilities serve a larger customer base without increasing power production or constructing new generating units.

Black Hills Corporation’s (NYSE:BKH) unit, Black Hills Energy Company and Dominion Resources, Inc.’s (NYSE:D) unit, Dominion Virginia Power offer various energy efficiency programs to help customers conserve energy and maximize savings.