This is a classic example of the mafia selling protection to people who do not want their protection. They are forced to take it and pay for it.
That is just what is happening in Indian River.
The town of Indian River Shores wants to create their own municipal electric authority to establish home rule for their residents. This would allow them to decide who gets to provide electricity to town residents.
This is bad news for Vero Beach as this will end their racket of imposing taxes on Shores residents thru overly high electric rates which spill over to the Vero Beach city general fund. The Shores is gone sick of this scheme.
A deal to sell the Shores portion off to FPL has stalled due to a $50 million dollar difference between Vero and FPL.
But negotiations ended this month almost as soon as they began, when Vero placed a $64.5 million value on the Shores system.. The amount is more than $50 million higher than the $13 million FPL offered the city.
Vero Beach is warning of retaliation should the Shores decide to stick up for their residents against this tax-funding rate scheme of Vero Beach.
Let’s hope those in Fort Pierce and outside the city limits share the same sentiment.
Source: Analysis: Indian River Shores leaders trying to take control of town’s electric rates