Vero Beach electric utility sale takes step forward with federal commission's approval
By Ed Bierschenk , TC PALM
3:57 PM, Oct 7, 2013
4:06 PM, Oct 7, 2013
VERO BEACH - The proposed sale of the city's electric utility system to Florida Power & Light Co. took a significant step forward with Monday's approval of the transaction by the Federal Energy Regulatory Commission.
"I think it is another one of the hills we had to climb and fortunately we made it across that one and we will continue moving forward," said City Manager Jim O'Connor.
Several other approvals are needed, including one from the Florida Public Service Commission. O'Connor said he believes before a submittal is made to that commission that some type of agreement has to be reached with the Florida Municipal Power Agency, which is involved in four different wholesale power agreements with the city.
FPL is in negotiation with the agency on a deal that could potentially get the city out of these power agreements and allow it to sell its system to FPL.