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NextEra's considers nuclear restart in Iowa, while renewable deals swell

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NextEra's considers nuclear restart in Iowa, while renewable deals swell


By Laila Kearney, Seher Dareen

(Reuters) -NextEra Energy is conducting engineering studies and speaking with federal regulators about the possible restart of its Duane Arnold nuclear power plant in Iowa, company executives said on Wednesday.

Growing power demand from AI data centers, and the electrification of buildings and transportation, has propelled the country’s electric utility industry and led to unprecedented power contracts.

NextEra is assessing the condition of its Duane Arnold nuclear power plant in Iowa and speaking with regulators with the Nuclear Regulatory Commission, NextEra CEO John Ketchum said on a company earnings call.

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“We’re very interested in recommissioning the plant,” said Ketchum, adding that the site uses a boiling water reactor, which can be simpler than other systems to revive.

Two U.S. nuclear power plants, including Three Mile Island Pennsylvania, are currently in the process of being restarted. A fully shut nuclear plant has never been revived.

“That gives us optimism of being able to do this at an attractive price and without as much risk,” Ketchum said.

NextEra, which includes the world’s largest renewables company and one of the biggest U.S. regulated electric utilities, has also entered into “incremental framework agreements” with Fortune-50 to develop 10.3 gigawatts renewable energy and storage.

The company’s third-quarter profit beat Wall Street estimates on Wednesday, helped by strength in its renewables unit. The S&P index tracking utilities jumped 18.4% in the third quarter, compared to a 5.5% rise in the S&P 500.

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NextEra’s renewables business, NextEra Energy Resources, projected a backlog of 24 gigawatts (GW) in the third quarter, up from nearly 22.6 GW in the second quarter.

The company’s regulated utilities business, Florida Power & Light, reported net income of $1.29 billion, compared with $1.18 billion a year earlier.

NextEra’s overall quarterly revenue of $7.57 billion, however, missed estimates of around $8.10 billion, according to analysts’ estimates compiled by LSEG.

The company, which is based in Florida, maintained its 2024 adjusted earnings-per-share forecast. Executives said they expect EPS in 2025 to be in a range of $3.45 to $3.70.

On an adjusted basis, NextEra earned $1.03 per share in the quarter, compared with estimate of 98 cents, according to data compiled by LSEG.

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NextEra Energy Partners, a unit of the company created to acquire, manage and own contracted energy projects, said it would repower an additional 225 megawatts (MW) of wind facilities, bringing the total backlog of wind repowerings to around 1.6 GW through 2026.

However, the unit reported a loss of $40 million due to higher interest payments and a loss on some continuing operations, compared to year-ago net income of $53 million. Its shares were down 11.5% in early morning trade.

(Reporting by Seher Dareen in Bengaluru and Laila Kearney in New York; Editing by Pooja Desai and Maju Samuel and Franklin Paul)



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Iowa

Kim Reynolds announces new child care initiatives after lawmakers fail to pass her bill

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Kim Reynolds announces new child care initiatives after lawmakers fail to pass her bill


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  • A new grant program announced by Gov. Kim Reynolds would provide preschools and child care centers with $300,000 over three years to offer all-day care for 4-year-olds.
  • Reynolds also proposed a new fund to solicit donations from businesses to boost child care workers’ wages. And she extended a pilot making child care workers eligible for child care assistance funds.
  • Reynolds proposed similar initiatives in a bill that failed to pass the Iowa Legislature this year.

Gov. Kim Reynolds is launching a new grant program for preschools and child care centers to partner and provide all-day care for 4-year-olds and boost Iowa’s child care workforce.

The move comes after state lawmakers ended the 2025 Iowa legislative session without passing Reynolds’ proposal to add similar programs to state law.

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Reynolds announced a range of child care-focused steps in a May 20 news release. They include:

  • Creating a new continuum of care grant program to provide grants of $300,000 over three years to preschools and licensed child care providers to offer all-day care for 4-year-olds.
  • Establishing a Statewide Child Care Solutions Fund that matches donations from businesses to boost child care workers’ wages.
  • And extending a pilot program that makes child care workers eligible for state child care assistance funding, even if they exceed the program’s income limits.

“When individuals, businesses and government all work together to solve a problem, Iowans benefit. Nowhere is this more evident than in child care,” Reynolds said in a statement. “Programs like the Child Care Assistance pilot and the Statewide Solutions Fund will continue to increase our child care workforce and capacity. And the Early Childhood Continuum of Care grant will help give working parents what they need — a full day continuum of care for their children.”

Several of the initiatives Reynolds announced Tuesday were in her bill to incentivize partnerships between preschools and child care providers. The legislation passed the Iowa Senate April 23, but it never received a vote in the House.

Democrats had criticized the bill for redirecting existing funding that went to Early Childhood Iowa programs instead of providing new money for child care and preschool programs.

Grants would incentivize preschool and child care partnerships for all-day care

The continuum of care grants will be available to licensed child care centers and participants in Iowa’s statewide voluntary preschool program.

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The grants are worth up to $100,000 per year for three years.

An online request for proposal page said “the source of funding is a combination of state and federal funding sources.”

“This first-of-its-kind grant opportunity supports partnerships between high-quality preschool and child care programs, providing a full day of care that meets the needs of children and working families,” Iowa Department of Education Director McKenzie Snow said in a statement. “We know that about 90 percent of a child’s brain develops by age 5, and Iowa’s new Continuum of Care grant will expand family access to high-quality early childhood options that lay the foundation for learner success in school and beyond.”

Statewide fund seeks donations to boost child care workers’ wages

Reynolds is seeking donations from businesses and individuals for a new Statewide Child Care Solutions Fund, which would provide money to hire new child care workers.

The program would build on a 2024 pilot program that created regional child care solutions funds in several counties around the state.

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Reynolds cited a study by the Common Sense Institute of Iowa that examined the pilot program and determined a statewide fund could add 11,000 new child care slots around the state, create 8,000 jobs around Iowa and allow 5,000 more women to enter the workforce.

Restricted donations would go towards the local fund in the area specified by the donor while the state will provide a 2-to-1 match for unrestricted donations.

A spokesperson for Reynolds could not immediately answer questions about the cost of the state match or how it would be funded.

Reynolds extends pilot program letting child care workers access child care assistance

Reynolds will also extend a pilot program begun in 2023 that makes all child care workers eligible for child care assistance, regardless of their income level, to try to keep more child care workers in the workforce.

Iowa’s child care assistance program subsidizes the cost of child care for low-income families.

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The pilot program currently serves 900 families and 1,500 children, according to the state’s news release.

A spokesperson for Reynolds did not immediately answer questions about how Reynolds would fund the extension of the pilot program.

Stephen Gruber-Miller covers the Iowa Statehouse and politics for the Register. He can be reached by email at sgrubermil@registermedia.com or by phone at 515-284-8169. Follow him on X at @sgrubermiller.





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Iowa Agriculture Secretary Mike Naig rules out run for governor, will run to keep seat

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Iowa Agriculture Secretary Mike Naig rules out run for governor, will run to keep seat


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Iowa Secretary of Agriculture Mike Naig announced he will seek reelection in 2026, officially forgoing a campaign for governor.

Naig, a Republican, had been among those considering a run to replace outgoing Gov. Kim Reynolds after she made a surprise announcement in April that she would not run for another term.

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According to a release, Naig “decided there’s still work to be done growing our state and economy as Secretary of Agriculture.”

“I’m incredibly grateful for the opportunity to serve the people of Iowa as we work to advance an Iowa First agenda that puts farmers, families, and freedom at the center of our future,” Naig said in a statement. “We have made tremendous progress over the past few years, but there remains important work ahead and we’re not done yet —building markets for Iowa products, defending our livestock industry, accelerating soil and water conservation efforts, and making sure rural Iowa thrives for future generations.”

According to the release, a formal campaign launch will occur at a later date.

Naig was first elected to his position in 2018 and reelected in 2022. Before running for his current role, he was deputy agriculture secretary in 2013 and an agriculture industry lobbyist.  

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He said in an April 16 statement that people had encouraged him to consider a gubernatorial bid, and he said that he and his family were “thoughtfully discussing that possibility and keeping all options on the table.”

Brianne Pfannenstiel is the chief politics reporter for the Des Moines Register. Reach her at bpfann@dmreg.com or 515-284-8244. Follow her on X at @brianneDMR.



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Three Thoughts on Iowa WBB Adding Emely Rodriguez

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Three Thoughts on Iowa WBB Adding Emely Rodriguez


Iowa basketball made a notable addition from the transfer portal on Monday, picking up a commitment from Central Florida guard/forward Emely Rodriguez. In Three Thoughts, we’ll take a look at what Rodriguez brings to Iowa, the potential positional fits for Rodriguez with the Hawkeyes, and what her addition means to the rest of the Iowa depth chart.



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