NextEra shareholders meeting set for Thursday in Oklahoma City

NextEra Energy, Inc. logo. (PRNewsFoto/NextEra Energy, Inc.)

For the fourth year in a row, NextEra Energy Inc.,  headquartered in Juno Beach, plans to hold its annual shareholder meeting outside of Florida.

The meeting is scheduled to begin Thursday at 9 a.m. Eastern Time  at Embassy Suites in Oklahoma City.

A live webcast can be accessed at NextEraEnergy.com, by clicking the link provided on the home page.

“We’re a Fortune 200 company that has a very substantial presence in many states, including Oklahoma where we’ve made capital investments of approximately $3 billion through 2015,” NextEra spokesman Rob Gould said. “In fact, we own and operate 12 existing wind farms, generating approximately more than 1,300 megawatts of clean power and have two other wind projects in development.”

In 2015 NextEra, the parent company of Florida Power & Light Co., held its shareholders meeting in  Colorado Springs, and it was over in just 20 minutes. In 2013 the event that lasted 22 minutes was held in Dallas, making the  first time in the company’s history it was held outside Florida. In 2014 shareholders met in Indian Wells, Calif., and the event lasted 14 minutes.

The meetings outside the state have been a sharp contrast to those held in Juno Beach in 2012 and earlier in Palm Beach County because no shareholders stepped up to the microphone to ask any questions after CEO  Jim Robo gave a brief overview of FPL and NextEra.

When the annual meeting was held in Juno Beach, as many as 100 shareholders, most of them also FPL customers, attended, and asked the company’s executives questions about everything from its billing policies and rates to its nuclear plants. Protestors often picketed outside over various issues such as power plants. Time would run out before all the shareholders questions were answered.

In 2012  a dozen people disrupted the meeting inside the conference room and were removed after they chanted about executive compensation and tax credits.

Among the items on Thursday’s agenda is a proposed resolution from Coral Gables-based shareholders Alan Farago and Lisa Versaci on projected sea level rise and climate change impacts.

The proposal states that the company is using the lowest estimate of sea level rise for  two new reactors proposed for its Turkey Point plant south of Miami, predicting less than a foot by 2100.

The resolution seeks to require NextEra to report material risks and costs of sea level rise scenarios projecting forward to 2100, according to the  best available science, to make the report available to shareholders and investors by Dec. 1, 2016 and to prepare such a report annually at reasonable cost and omit proprietary information.

NextEra’s board opposes the proposal saying, among other reasons, that the proposal calls for a report that would require the company to speculate on events and the operations more than 80 years in the future and would be a waste of time and money.

The company said that the proposal incorrectly states the assumptions made by the company with respect to sea level rise. If approved, the new reactors would be built more than 25 feet above current sea level, well above any predicted rise.

 

 

 

 

 

 

 

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