Like many, I'm new to the forums but have been listening to the podcasts for quite some time. Something of interest came up in a Florida market I thought some of you may be interested in. A state/nationwide electric utility (Florida Power and Light) is trying to acquire a municipal utility in Vero Beach, FL. I'm not trying to hide any details, I just want to learn how some others may take action on this information. Some questions I have:
Does a large and successful company moving into a regulated utility market drive land/home value up, and how fast?
I suspect it won't add nor remove any jobs from the local market (maybe +- 5% of the jobs in the specific business) so I'm not sure how much the market will be impacted, but the power quality and reliability will undoubtedly go up over time possibly making for a good buy-and-hold action.
I may be of additional help because of my background in electric utilities as an electrical engineer, so if you have any questions for me please feel free to reach out. Sorry I don't have a photo or anything fancy yet, but I promise I'm a real person with equally real goals!
If anyone really is interested, I live in Vero Beach; and can pretty much say for a fact that property in the Vero Beach city limits will sell quicker, and for a slightly higher price, once FPL takes over supplying electricity to the town. Vero has been supplying electricity to it's residents at exorbitant rates, in order to beef up the general fund for years. A few years back when the rates were at their highest, some residents were paying in the $600 per month range, while I was paying around $200 per month. The electric supplier to Vero has been coming up with any and every reason to stop the sale from happening, and the sale is currently at a loggerhead because of them. The town government has had it's own members adding to trying to stop the sale through providing misleading information at times, too. Haven't seen any current numbers as to the percentage of house sales inside the town limits vs. the Vero area (outside the town limits, but in the Vero mailing address area which goes to the border of the town's north and south of it.). My feeling is that the percentage sold inside the limits isn't all that big a deal because I doubt that anyone selling a house inside the limits tells a prospective buyer about the terrible electric rate. Once the lawyer finds a way to get the deal. done, it'll happen fairly fast.