Investor Presentation
Attractive renewables economics are expected to continue
driving a transformation of the U.S. generation fleet
Estimated Costs of Generation Resources Late-2020s (1)
($/MWh)
Near-Firm Wind (2)
Near-Firm Solar (2)
Existing Natural Gas (3,4)
Existing Nuclear (3)
Existing Coal (3)
New Natural Gas CC (4)
New Offshore Wind
$14 - $21
$17 - $24
$27 - $40
$34 - $49
$43 - $74
$50-$63
$85 - $114
$105 $135
New Small Modular Nuclear
Storage Adder
Carbon Adder (5)
Even with $3/MM Btu gas prices, we believe near-firm wind and solar will
remain the lowest-cost option for new generation in the late-2020s
NextEra Energy Resources' estimate, based on current law (i.e. including the expected impacts of the IRA)
Near-firm assumes a 4-hour battery to achieve roughly equivalent reliability during peak hours for comparison
with dispatchable generation sources
3) Represents all-in cash operating cost per MWh including fuel and ongoing capital expenditures
4
Range assumes $3/MMBtu gas prices
Reflects modest CO2 cost consistent with existing state and regional CO2 policies and IOU planning conventions
NEXTera
ENERGY
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