Core Viewpoint - DTE Energy is set to announce its full year 2025 earnings on February 17, 2026, before the market opens, followed by a conference call to discuss the results [1]. Group 1: Earnings Announcement - The earnings announcement will take place before the market opens on February 17, 2026 [1]. - A conference call to discuss the earnings results is scheduled for 9:00 a.m. ET on the same day [1]. Group 2: Access to Earnings Call - Investors and the public can listen to a live internet broadcast of the call at dteenergy.com/investors [2]. - The U.S. and Canada toll-free telephone dial-in number is (888) 510-2008, with international options available [2]. - The passcode for the call is 4987588, and the webcast will be archived on the DTE Energy website [2]. Group 3: Company Overview - DTE Energy is a diversified energy company based in Detroit, serving 2.3 million electric customers and 1.3 million natural gas customers in Michigan [3]. - The company focuses on custom energy solutions, renewable energy generation, and energy marketing and trading [3]. - DTE Energy is committed to carbon reduction goals and engages in various community initiatives, including volunteerism and philanthropy [3].

Financial Data and Key Metrics Changes - NextEra Energy reported full-year adjusted earnings per share of $3.71, an increase of over 8% from 2024, slightly exceeding previous guidance [4][32] - The company expects to grow adjusted earnings per share at a compound annual growth rate of over 8% through 2032 and maintain the same growth rate from 2032 to 2035, based on the 2025 earnings base [4][33] - NextEra Energy's consolidated results showed a decrease of $0.12 per share in adjusted earnings from the corporate and other segment year-over-year, primarily due to higher interest costs [32] Business Line Data and Key Metrics Changes - Florida Power & Light (FPL) achieved a full-year earnings per share increase of $0.21 compared to 2024, driven by regulatory capital employed growth of approximately 8.1% [26] - FPL's capital expenditures for 2025 totaled approximately $8.9 billion, with a reported return on equity for regulatory purposes expected to be around 11.7% [26][27] - Energy Resources added approximately 13.5 GW to its backlog, including a record quarter of 3.6 GW, and placed 7.2 GW of projects into commercial operations, marking a record for a single year [12][31] Market Data and Key Metrics Changes - FPL's retail sales increased by 1.7% year-over-year on a weather-normalized basis, attributed to strong customer growth, adding over 90,000 customers in the fourth quarter of 2025 [29] - Florida's economy is robust, with an annual GDP of approximately $1.8 trillion, making it the 15th largest economy globally [28][29] - The state is projected to surpass 26 million residents by 2040, with expectations of adding 1.5 million new jobs by 2034 [9][10] Company Strategy and Development Direction - NextEra Energy is focused on executing its strategic plan with over 12 growth opportunities, emphasizing the need for more energy infrastructure in the U.S. [5] - FPL's new four-year rate agreement allows for significant infrastructure investments, targeting $90 billion to $100 billion through 2032 [6] - The company aims to grow its electric and gas transmission business to $20 billion of total regulated and invested capital by 2032, reflecting a 20% compound annual growth rate off a 2025 base [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet growing power demand and highlighted the importance of being a reliable energy infrastructure builder [4][25] - The management team noted that the current economic environment presents significant opportunities for growth, particularly in renewable energy and battery storage [14][25] - The company is leveraging a strategic partnership with Google Cloud to enhance its AI capabilities, which is expected to drive operational efficiencies and innovation [24][25] Other Important Information - NextEra Energy's customer supply and trading business contributed positively to results, driven by increased origination activity and higher margins [30] - The company has secured solar panels and battery storage to meet development expectations through 2029, ensuring a robust supply chain [13][14] - The acquisition of Symmetry Energy Solutions enhances NextEra's ability to deliver a broad range of solutions for customers across the U.S. [23] Q&A Session Summary Question: How does Google's acquisition of Intersect fit with NextEra's partnership with Google? - Management stated that the acquisition has no impact on their partnership, emphasizing NextEra's unique position and capabilities compared to smaller developers [36][40] Question: What are the current legislative developments in Florida regarding data centers? - Management indicated that there are constructive legislative efforts underway that will support data center development and protect customer interests [41][42] Question: What are the expectations for announcements related to large load in Florida? - Management expects to make announcements regarding large load in 2026, driven by strong interest and ongoing discussions with customers [51][76] Question: What is the status of nuclear recontracting in Wisconsin? - Management noted significant interest in Point Beach and emphasized a careful approach to marketing open capacity while considering local demand [64][66] Question: Will NextEra participate in the PJM backstop auction? - Management indicated that regulatory certainty is needed before committing capital to new investments in PJM, but they are monitoring developments closely [68][70]

EDP Capital Markets Day 2025 Summary Company Overview - **Company**: EDP (EDP Renováveis) - **Event**: 2025 Capital Markets Day - **Date**: November 06, 2025 Key Industry Insights - **Renewable Energy Demand**: Significant growth in demand for renewable energy, particularly driven by data centers. A specific data center in Portugal is projected to require 1.2 gigawatts, representing 20% of Portugal's energy demand [4][5] - **Electrification Trends**: Demand in Portugal and Spain has grown by over 3% after years of stagnation, indicating a shift towards electrification and increased energy consumption [5][6] - **Investment in Infrastructure**: Approximately 25% of transformers in Portugal are over 40 years old, necessitating a wave of investment in energy networks that will extend beyond 2030 to 2040 [7][19] Financial Commitments and Projections - **Investment Plans**: EDP plans to invest EUR 12 billion, primarily in networks in Iberia and US renewables, with a focus on core markets [10] - **Operational Efficiency**: EDP maintains a strong operational efficiency with 26% OpEx over gross profit, aiming for a net debt reduction of EUR 1 billion [10][11] - **EBITDA Growth**: Projected increase in EBITDA and earnings, with a commitment to maintaining a stable dividend policy [11][54] Regulatory and Market Context - **Regulatory Clarity**: Improved visibility on regulatory frameworks in the US, Portugal, and Spain, including capacity payments expected to be implemented in 2026 for Spain and 2027 for Portugal [9][10] - **Tax Incentives**: Networks in Portugal are now exempt from extraordinary taxes, providing an uplift in returns of about 0.85% [12] Renewable Energy Strategy - **Focus on Renewables**: EDP Renováveis is expected to see significant growth, with a target of 20 gigawatts of generation assets, particularly in North America [29][30] - **Long-term Contracts**: Approximately 70% of EDP's energy will be long-term contracted, with expectations of higher prices for new contracts compared to previous years [33][40] Client Solutions and Market Positioning - **Client Engagement**: EDP has established contracts with major tech companies, securing over 3 gigawatts of power through PPAs [34] - **FlexGen Strategy**: EDP is focusing on flexible generation to adapt to the increasing demand for ancillary services, with expected growth in flexible services between 25% and 28% [27][28] Global Market Focus - **US Market**: EDP is well-positioned in the US, particularly in MISO and PJM regions, where demand from data centers is growing [38] - **European Market**: EDP continues to focus on key markets in Europe, including Italy, France, and Spain, while also exploring opportunities in APAC [44][46] Conclusion - **Strategic Vision**: EDP is committed to a sustainable growth strategy, focusing on renewable energy, operational efficiency, and strong client relationships, with a clear path to achieving its financial and operational goals by 2028 [48][49]

Core Viewpoint - DTE Energy is set to announce its second quarter 2025 earnings on July 29, 2025, before the market opens, followed by a conference call to discuss the results [1]. Group 1: Earnings Announcement - The earnings announcement will take place before the market opens on July 29, 2025 [1]. - A conference call to discuss the earnings results is scheduled for 9:00 a.m. ET on the same day [1]. Group 2: Access to Earnings Call - Investors and the public can listen to a live internet broadcast of the call at dteenergy.com/investors [2]. - The U.S. and Canada toll-free dial-in number is (888) 510-2008, with additional toll numbers provided for the U.S. and Canada [2]. - The passcode for the call is 4987588, and the webcast will be archived on the DTE Energy website [2]. Group 3: Company Overview - DTE Energy is a diversified energy company based in Detroit, serving 2.3 million electric customers and 1.3 million natural gas customers in Michigan [3]. - The company focuses on custom energy solutions, renewable energy generation, and energy marketing and trading [3]. - DTE Energy is committed to carbon reduction goals and engages in various community initiatives, including volunteerism and philanthropy [3].