Regulators Poised to Take Up FPL Deal

State regulators next week are slated to consider a plan by Florida Power & Light to purchase a utility system run by the city of Vero Beach. The Florida Public Service Commission on June 5 will take up the issue, which comes after a long-running battle in Indian River County about electric service.

That battle, at least in part, has pitted the city against Indian River County and led in 2016 to a Florida Supreme Court ruling in favor of the city.

Vero Beach has provided service for decades in some unincorporated areas of the county, with FPL serving surrounding areas. But with the planned deal, FPL would provide electricity to all of the areas through elimination of what is known as a “territorial agreement” that carved up the county.

The Public Service Commission needs to approve a series of issues, such as ending the territorial agreement and giving FPL the authority to charge its rates to Vero Beach’s customers. A commission staff analysis said FPL would make a $185 million cash payment as part of the deal. Vero Beach currently serves 35,123 customers, with 29,258 of them residential customers, the staff analysis said.

NSF Staff – reposted with permission from The News Service of Florida

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