ATLANTA - The Sebring, Fla., Utilities Commission has approved a proposal to sell its remaining electric power assets to the Florida Power Corp., ending months of debate over how to avoid a possible default.

The commissioners agreed among themselves Wednesday to sell the assets for at least $17.8 million, which the utility could then use to help avert a default on $85.6 million in outstanding debt.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.