“Reisman and his colleagues at Treasure Coast Newspapers persist in presenting the rate differential between Vero Electric and FPL in a way that shows how much more FPL customers would pay, if they switched to Vero Electric. This is a misleading and meaningless comparison. The relevant percentage is the savings Vero Electric customers could expect by switching to FPL. At 1000 kilowatt hours, that number is 8.7% for county customers and 6.3% for customers within the city. At 1200 kilowatt hours, based on today’s rates, the savings would be 14.3% for county customers and 9.1% for customers within the city.”
For years, in comparing rates between Vero Electric and Florida Power and Light, the FPL-friendly Press Journal has followed FPL’s lead in quoting 1000 kilowatt hour rates. Probably because this measure now yields the least favorable comparison from FPL’s perspective, the Press Journal is quoting rates at 1,200 kilowatt hours.
On the mainland, inside and outside the city limits, some 90 percent of Vero Electric’s residential customers use an average of less than 1000 kilowatt hours per month. Based on the most recent information available from FPL and the City, at 1000 kilowatt hours, the rate differential between the two utilities is 8.7 percent, $116.08 for Vero Electric and $102.64 for FPL. Reisman seems not to want to use these numbers, probably because he has for the last 7 years been telling his readers they could save 25 percent or more, if the City would only sell its electric system to FPL. In fact, the FPL-friendly Press Journal has played key role in leading the public to embrace an exaggerated sense of the benefits of the proposed power sale.
Not only has Reisman taken to using a different rate level for comparison, he misstates the delta. As of March, FPL’s rate for 1200 kilowatts of residential power was $122.40. Vero Beach’s rate was $142.87. The difference between those two rates is 14.3 percent, not 17 percent, as Reisman claimed when he wrote, “That’s about 17 percent more than FPL rates.” The simple, undeniable, indisputable fact is that at 1200 kilowatt hours customers of FPL are paying 14.3 percent less than customers of Vero Electric, not 17%. More…