Will FPL really buy FPUA?
FPL bought nearby Vero Beach in 2018. Vero beach also had a municipal-owned electric company and was a member of the Florida Municipal Power Agency. FPUA is a member of the same agency.
FPL took on 35,000 customers in Vero Beach who saved on average 20% on their electric bills.
Even more recently FPL’s parent company NextEra acquired Gulf Power on 01/01/2022
Under the plan, FPL’s typical 1,000-kWh residential bill is projected to remain well below the national average and among the lowest in Florida through 2025. For customers in Northwest Florida, a typical 1,000-kWh residential customer bill is projected to decline over the next four years.
FPL has already demonstrated they will buy electric companies and have bought our neighboring Vero Beach in the last 5 years.
Has this been done before?
In 2022 FPL’s parent company bought Gulf Power to expand their market in northwest Florida.
In 2018 Vero Beach’s power company was bought by FPL saving over 35,000 customers 20% on their monthly bills.
How will this affect my electric rates
When FPL bought Vero Beach The typical residential customer using about 1,000 kilowatts a month about 20 percent. Fort Pierce and Vero Beach both are/were buying power from the Florida Municipal Power Agency
Why would Fort Pierce get out of the electric business?
Fort Pierce electric customers have complained for more than 20 years about electric rates.
What does the process look like?
The process is not going to be sudden. There may need to be a city referendum.
When Vero Beach did the same thing in 2018 they had to get out of contractual obligations to the Florida Municipal Power Agency and get approval from the Public Service Commission.
This is achievable. Vero Beach did this in the last 5 years. It is our turn.
What happens to my deposit with FPUA?
When Vero Beach sold to FPL the Vero Beach power company refunded the deposit as a credit on the last bill.
Vero Beach will deduct the deposit from your final electric bill. Any remaining money from the deposit will be refunded. FPL does not require a deposit from former Vero Beach customers. – TCPalm
How would I pay my bill?
You will longer pay FPUA. You will pay FPUA which has an online portal and retail locations to make bill payments.
What happened to employees of the Vero Beach electric utility?
According to reports about 56 employees were affected by the sale. Of the six meter readers, three joined FPL and three continued as Vero Beach employees. FPL has hired about 53 city employees.