POWERING TODAY. EMPOWERING TOMORROW. ® A Developer’s Perspective on New Nuclear Plant Deployment March 18, 2009 Steven D. Scroggs Senior Director, Project Development Florida Power & Light Company “ We believe meeting our customers’ need for reliable power must go hand in hand with preserving the environment.” -Lew Hay FPL Group Chairman and CEO

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Topics  Lessons from our History  A Developer’s perspective:  What decisions must be made?  What are the roles of government?  What are the roles of industry?  What is needed to succeed?

Nuclear Industry History Teaches Lessons Units Entering Service after TMI 116 units under construction at the time of Three Mile Island (TMI): 66 were cancelled 50 completed average delay of 6.3 years

Cost Overruns Existed Before TMI  Cost overruns were the result of multiple issues:  Regulatory uncertainty  Design changes & ineffective management  Economic pressures o demand destruction, inflation

What Decisions?

Key Decisions (Going to the Big Dance)  Who are you going to the dance with?  How will you manage the expectations of all stakeholders?  When do you step on the gas, when do you step on the brake?  How aggressive should you be?  Is everyone onboard when you are at the commitment point?

As Important is How you make Decisions  Decide what you can, when you can  Collect, analyze, discuss, collect more…  Manage risk in a way that creates alignment  Assess, act, repeat…  Learn from others, share with others  There can be no single successful project

The Role of Government

Allow us to do our job  Provide Regulatory Certainty  Predictability of Review Process  Finality of decisions  Uphold commitments

The Role of Industry

Deliver  No Excuses  Timing has positioned our product with unprecedented advantages  No Special Treatment  The economics work  No Mistakes  Existing Operations and New Construction Execution

What is Needed?

Commitment  Regulatory relationships that are allowed to:  Leverage expertise, respect and communication between agencies  Administer the existing statutes and rules  An industry that will:  Acknowledge that we have to earn the support of the public  Challenge accepted business models and relationships to develop creative, flexible execution teams