Amends GS 62-3 to add definitions of large-load data center (a facility (1) whose primary services are the storage, management, and processing of digital data, (2) that is used to house computer and network systems, including associated components such as servers and other telecommunications equipment and appliances, and (3) that has or is projected to have an aggregate demand of more than 20 megawatts) and tariff (any compensation, charge, fare, rate, schedule, toll, or classification demanded, observed, charged, or collected by any public utility, for any service product or commodity offered by it to the public, and any rules, regulations, practices, or contracts affecting such compensation, charge, fare, rate, schedule, toll, or classification). Makes technical changes.

Adds new GS 62-133.25 to Article 7, Rates of Public Utilities, of GS Chapter 62 titled “Electric Service Tariffs for Large-Load Data Centers.” Requires public utilities to file a tariff for the provision of electric service to large-load data centers for approval by the North Carolina Utilities Commission (NCUC). Authorizes the NCUC to approve tiered tariff schedules based on factors related to the cost of service to large-load data centers. Provides that the tariff applications are designed to ensure that large-load data centers bear all costs of capital investments or operational expenses necessary for the public utility to provide electric service to large-load data centers, and to protect the public utility’s other electric customers from rate increases or stranded costs caused by service of large-load data centers.

Directs the NCUC to require each tariff incorporate specified terms and conditions: (1)  minimum contract term of at least 10 years, (2) minimum billing demand to pay for a period of no less than 10 years after beginning service, at least 85% of maximum electric service requested, (3) financial assurance to prevent material rate increase for other customers if the large-load data center ceases operations or uses less service than requested, (4) advanced notice of anticipated reduction in demand for electricity, and (5) other reasonable provisions in the public interest.

Authorizes the NCUC to only approve tariff applications for electric service to large-load data centers if the application complies with the requirements of this statute and contains additional terms necessary to ensure other customers do not bear increased costs attributable to serving large-load data centers.

Requires tariff applications to be filed no later than 180 days after this section becomes law. Prohibits public utilities from providing electric service to large-load data centers except in accordance with this section effective January 1, 2028.

Repeals GS 105-164.3(47) (defining datacenter), GS 105-164.3(79) (defining eligible internet datacenter), GS 105-164.3(201) (defining qualifying datacenter), GS 105-164.13(43a)b (sales tax exemption for computer software sold to datacenter operators for datacenter use), and GS 105-164.13(55a) (sales tax exemption for electricity used at qualifying datacenters for a listed purpose). Effective on and applies to sales made on or after January 1, 2027.