K. Newman, a resident of Florida, expressed concerns regarding Clearwater’s proposal to establish a municipal electric utility. The primary worry is the city’s potential decision to bond nearly $1 billion to acquire Duke Energy’s existing infrastructure, which could result in increased costs for customers’ kilowatt-hour (kWh) bills. This statement was made during public comments responding to a column.
“The main financial concern of which I share–is the potential cost of acquiring Duke’s existing infrastructure,” said Newman. “Should the city have to bond for close to $1 billion just for that, the payments will be included in the kwh on top of any other generating and distribution costs.”
Clearwater is considering taking over Duke Energy’s electric system, which would necessitate the city assuming full ownership of the local grid. Duke Energy has said that its system is “not for sale,” indicating that any acquisition would have to proceed through eminent domain. This sets the stage for a lengthy and complex process before any transition could occur…