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Earnings Calls: 
FPL Group Fourth Quarter Earnings Call
Author: Rozalina Destanova
123jump.com
Last Update: 12:22 PM EST January 30 2008


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The wind power company’s revenue was $3.7 billion, failing to meet expectations of $3.9 billion. Items included an after-tax loss of $58 million for hedges. Adjusted earnings rose to 71 cents a share from 63 cents a share. In December the company received regulatory approval to implement extended power uprights at all four existing Florida nuclear units. FPL expects 2008 full-year adjusted earnings per share to be between $3.83 and $3.93, and 2009 earnings per share of $4.15 to $4.35.


Investors Question and Answers

 
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Moray Dewhurst: We are still in the pilot or early development phase and our philosophy in just about everything we attempt is to work hard on a small scale to work out all the bugs before we scale things up. That has worked well for us in lots of areas in the past.

Armando Olivera: This is affectively our third technology pilot and the reason we felt more comfortable coming out and talking about it is because it has been successful pilot but it has been primarily along the technology side and making sure that it has the flexibility and a broad set of future functionality. We have not yet done any testing for changes in customer behavior as a result of having this technology in place. We are contemplating a number of those, most of them would require some sort of regulatory approval and a pilot rate but we are not there today yet. We are still focused on the technology and making sure that it works in our environment.

Paul Ridzon (KeyBanc Capital Markets): You had monetized 600 MW for 94% of the capital costs, what would that percentage is of new build?

Moray Dewhurst: These are essentially all new build projects.
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