other adjustments, the net increase that a typical residential customer would pay is currently estimated at less than $2.50 per month, or about 8 cents per day. So even with the increase, we expect to continue to deliver the lowest typical residential bill in Florida. 

## NextEra Energy Resources 

NextEra Energy Resources reported 2011 net income on a GAAP basis of $774 million, or $1.85 per share, compared with $980 million, or $2.37 per share, in 2010. On an adjusted basis, NextEra Energy Resources’ 2011 earnings were $679 million, or $1.62 per share, compared with $800 million, or $1.93 per share, for the full year 2010. 4 

These results did not meet the expectations we set out for ourselves at the beginning of the year, for several reasons. We were overly optimistic about the market environment for our proprietary trading activities, and so we have reduced our expectations for these activities to reflect softer market conditions. We had unplanned and extended outages at our Seabrook nuclear facility, which led to less availability than we had anticipated. We were negatively impacted by the extreme heat in Texas in August, and since then we have made a number of operational changes to improve our responsiveness and resilience should such extreme conditions recur. 

Finally, we had hoped to get a few more megawatts of new renewable projects in the ground by the end of 2011. Instead, two projects were pushed into the first quarter of this year. The long-term financial impact on these projects will be minimal, as the projects are still expected to qualify for relevant tax incentives. 

Strong enterprises succeed despite their challenges, and that is what NextEra Energy Resources did in 2011. Our non-nuclear generating facilities performed exceptionally well, with one of our lowest forced-outage rates on record. We had a banner year for development of new renewable energy projects, which created the largest backlog of new renewable energy projects in our history. We believe we are positioned well to grow in the years ahead, and to extend 

our leadership as the largest generator in the United States of renewable energy from the wind and the sun. 

We entered into long-term contracts for more than 1,600 MW of wind generation during 2011, with expected in-service dates through 2014. We added approximately 380 MW of wind generation during the year, and we remain on track to add approximately 1,400 to 2,000 MW of new wind assets to our portfolio during the two years ending on Dec. 31, 2012. 

On the solar front, our company’s backlog of 940 MW of contracted solar projects includes our 50 percent portion of the recently announced Desert Sunlight project and 100 percent of the recently announced McCoy photovoltaic project, both in California. Including all of the planned solar projects that are already under long-term contract, NextEra Energy Resources plans to invest between $2.1 billion and $2.3 billion from 2011 through 2012, and between $1.3 billion and $1.5 billion in 2013 and 2014 in solar development projects. The backlog of contracted solar opportunities is expected to begin contributing meaningfully to cash flow and earnings in 2013. 

In 2012, NextEra Energy is urging policymakers to extend policy support for renewable energy, including through extension of the federal Production Tax Credit (PTC) for wind energy. This incentive is a good deal for U.S. taxpayers, as it has encouraged tens of billions of dollars of private investment in high-tech American manufacturing. Indeed, investment in new wind projects that would follow an extension of the PTC is projected to generate tax revenues for federal, state and local governments that are larger than the cost of the extension itself. Over the past three years, investment in wind technology has decreased the cost of wind energy by nearly one-third and increased its efficiency by more than 20 percent. We believe the PTC has proven its value, and we are hoping that the past bipartisan consensus to support it will re-emerge. 

## Recognition of Excellence 

As NextEra Energy’s leadership position in the electric power industry has grown, so has our reputation. In 2011, 

