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Bulletin: FPL Group Unit's $998 Million Nuclear Power Plant Acquisition Does Not Affect Rating Dec 06 Product Image

Bulletin: FPL Group Unit's $998 Million Nuclear Power Plant Acquisition Does Not Affect Rating Dec 06

  • ID: 1820831
  • December 2006
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Dec. 20, 2006--Standard & Poor's Rating Services said today that FPL Energy LLC's announcement that it will purchase the 1,033 MW Point Beach nuclear plant from Wisconsin Electric Power Co. (WEPCO; A-/Negative/A-2) for $998 million ($996/kW) does not immediately affect the ratings on FPL Group Capital Inc. (A/Stable/A-1), FPL Energy's parent, or FPL Group Inc. (A/Stable/--), which owns FPL Group Capital. The acquisition will increase FPL Energy's nuclear capacity by 70% to 2,523 MW (net) and the share of nuclear capacity to 18% of its total capacity from about 11%. Partially offsetting this increase in nuclear risk exposure will be a long-term contract to sell all Point Beach generation back to WEPCO through plant license...

Companies mentioned in this report are:
- NextEra Energy Inc.
- NextEra Energy Capital Holdings Inc.

Action: Bulletin

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- NextEra Energy Inc.
- NextEra Energy Capital Holdings Inc.

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