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The Sale of <br />Vero Electric to FPL <br />• Why are we selling and what is the delay? <br />• Update on State Legislature regarding the audit <br />of the FMPA. <br />• Why FMPA valuation is essential to public <br />transparency and understanding FMPA exit <br />costs. <br />Why are We Selling? <br />• Because Vero Beach Electric cannot compete with FPL. <br />• Vero rates are currently 27% higher than FPL and are soon <br />to be 31% higher in May 2015 <br />• We lose over $2o million per year because Vero can't <br />compete with FPL. <br />• The electric business is not an essential service of <br />government, creating unnecessary bureaucracy. <br />gc <br />4/14/2015 <br />A <br />1 <br />