MARK SCHUMANN

In 2009, then candidate Charlie Wilson promised Vero Beach voters the sale of their electric utility would lead to a 30 percent reduction in rates, while netting the city $90 million in cash to invest.  The investment proceeds, Wilson promised, would offset the annual $5.5 million transfer from the electric utility to the general fund.

It is now clear the average savings for Vero Electric customers would be closer to 15 percent, but even less for several years, as the city’s electric customers pay a $26 million surcharge to help fund the sale.  Far from $90 million, net proceeds to the City of Vero Beach would be next to nothing. Wilson, who was removed from office by court order following his 2009 election, is again running for a seat on the city council.  Wilson has said that, if elected, he hopes to be chosen by his fellow council members to serve as mayor.  In that position, he promises to do whatever is necessary to push through the sale of Vero Electric to Florida Power & Light.

In his interview with Vero Beach 32963’s Mary Beth McDonald Wilson said,“I have a plan that will allow us to leave the power business without increasing taxes, and can reduce your rates by up to 30 percent…The power plant is worth about $150 million. We owe about $60 million dollars. My plan is, it will take about a year, is to sell the power plant to Florida Power & Light, take the $150 million, pay off all of the debt, which is $60 million dollars, that leaves us $90 million dollars left. We can invest that $90 million in secure things, like government bonds, and that will yield us the same about of money that is now being transferred from the power plant to the general fund.”