Amends the Renewable Energy and Energy Efficient Portfolio Standards (REPS) provided in GS 62-133.8 as follows.
Decreases the REPS requirement for electric public utilities from 10% to 8% of 2017 North Carolina retail sales for the 2018 calendar year and thereafter (currently, the Standard includes 10% of 2017 NC retail sales for calendar year 2018, and 12.5% of 2020 NC retail sales for calendar year 2021 and thereafter).
Decreases the REPS requirement for electric membership corporations or municipalities that sell electric power to retail electric power customers from 10% to 8% of 2017 North Carolina retail sales for the 2018 calendar year and thereafter.
Effective July 1, 2017, and applies to cost recovery proceedings that occur on or after that date.
Amends GS 62-133.8(b), which sets forth seven ways in which an electric public utility can meet the REPS requirements of subsection (b), to specifically amend the option of meeting the requirements by reducing energy consumption through the implementation of an energy efficiency measure. Establishes that an electric public utility can meet up to 40% of the requirements of subsection (b) through savings due to implementation of energy efficiency measures beginning in calendar year 2018 and each year thereafter (currently, beginning in 2021 and thereafter). Effective July 1, 2017.
Provides for recovery of incremental costs incurred by an electric power supplier prior to July 1, 2017 for the purpose of complying with any requirement repealed or amended by this act in accordance with the provisions of GS 62-133.8(h). Details costs incurred prior to July 1, 2017, that may be recovered.
Includes a severability clause.
Bill Summaries: H267 (2017-2018 Session)
Bill H 267 (2017-2018)Summary date: Mar 7 2017 - View summary