In a 27-page report released today, the Federal Energy Regulatory Commission gave its approval to Florida Power & Light’s proposed purchase of Vero Electric.

A number of parties, including the Vero Beach Civic Association and Vero Beach City Councilman Jay Kramer, petitioned the FERC to hold hearings on the sale. They raised concerns about the lack of competitive bidding, the potential for reduced competition, the potential effect of taking Vero Beach generating capacity out of the wholesale power grid and other issues, none of which gave the FERC cause to deny FPL’s application.

The FERC did place a number of stipulations on its approval including the requirement that FPL notify the Commission within 30 days of any material changes in circumstances that departs from the facts the Commission relied upon in authorizing the proposed transaction.

FPL is still negotiating with the Florida Municipal Power Agency and is seeking the FMPA’s agreement to a transaction that differs from the one describe in FPL’s FERC application.  Even if the final deal does not have to go back to the FERC for reconsideration, it must still be approved by the Florida Public Service Commission.