Hurricane Milton wreaked havoc across Florida on Wednesday night, causing widespread power outages as it made landfall near Siesta Key in Sarasota County before barreling through the central part of the state.

What Happened: Over 2 million residents were left without power as the storm's winds and heavy rains swept across the region.

The storm's impact on Florida's power grid has been significant, affecting major utility providers throughout the state.

According to data from PowerOutage.us, which tracks about 11.5 million customers across Florida, Florida Power & Light Company which is owned by NextEra Energy Inc (NYSE:NEE) recorded the highest number of outages, with 929,918 customers without power.

Duke Energy Corp (NYSE:DUK) followed closely behind with 666,142 outages, while Tampa Electric reported 590,437 customers affected.

Hurricane Milton's power disruptions weren't limited to Florida. In North Carolina, Duke Energy reported 50,824 customers without power, contributing to the state's total outage count of 65,238. In Georgia, another 34,028 outages were reported.

Why It Matters: As Hurricane Milton approached, it was downgraded from a Category 5 to a Category 4 storm. Despite the downgrade, the storm's potential for damage remained significant, prompting evacuations and preparations across the state.

The storm's impact was expected to affect various sectors, including utilities, insurance, and regional banks, with companies like NextEra Energy Inc and Walt Disney Co taking precautionary measures.

In anticipation of the storm, Disney World closed its parks early, and Tesla Inc advised its vehicle owners to fully charge their electric vehicles, planning to deploy mobile superchargers post-storm.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors