Clearwater leaders are considering a historic move: severing ties with Duke Energy and establishing a city-run public utility.

On Monday, the city council voted unanimously to move forward with an appraisal of Dukes assets and the creation of a timeline for potential next steps, which advances a process that could ultimately take years to play out.

This is one of those rare opportunities to do something monumental, said Councilmember Ryan Cotton.

The city spent about $504,000 on a feasibility study.

That report concluded customers could save an average of 7% in the first five years under a public utility and as much as 18% annually over the next 25 years. However, another independent analysis by Concentric Energy Advisors projected the city would face more than $1.1 billion in costs to

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