Part I.

Amends GS 62-133.2 instead of requiring that the North Carolina Utilities Commission (Commission) permit an electric public utility generating power by fossil or nuclear fuel to charge an increment or decrement as a rider for changes in the cost of fuel, to now specify that those utilities must request approval from the Commission and conditions this on the Commission establishing a fuel cost and purchased power cost sharing mechanism in new (d3). New (d3) requires the Commission to establish the cost sharing mechanism by order or rule. Sets out provisions governing the baseline, calculation of variances, sharing allocation, review of what portion of a variance was reasonably and prudently incurred, and an annual accounting and reporting requirement. Amends the requirements for annualized information and data that the electric public utilities must submit to the Commission, to now require that it be submitted at least 30 days before the annual hearing, and to require that the information on fuel procurement practices and fuel inventories for each facility include unredacted fuel supply agreements. Requires that the Commission use consecutive historical 12-month periods (was, use consecutive test periods) in reaching its decision. Makes conforming changes.

Part II.

Sets out NCGA findings.

Enacts new GS 62-159.5 establishing the Bring Your Own Generation (BYOG) Program. Defines BYOG as an arrangement under which an eligible large customer develops, owns, or contracts for on-site generation capacity and connects that capacity to the electric grid for the purpose of serving some or all of the customer's own load, and providing available capacity as a grid service resource. Defines eligible large customer as an electric utility customer with a peak demand of one megawatt (MW) or greater, or at some other level of peak demand as defined by rule or order of the Commission. Sets out and defines additional terms.

Requires each electric public utility to file an application with the Commission for approval of a BYOG Program that provides standardized terms and conditions for: (1) an interconnection agreement with participating eligible large customers connecting on-site generation capacity and (2) a grid services agreement for participating eligible large customers to offer grid service resources to the utility. Also requires the application to include rates and interconnection fees and a description of the cost allocation method used to establish rates. Also allows the participating eligible large customers to make their on-site generation capacity or controllable load available to the electric public utility as a grid service resource under the terms of a grid services agreement. Requires each electric public utility to file for Commission approval rates for electric services applicable to participating eligible large customers and sets out additional requirements for those rates. Sets out the required timeline by which an electric public utility must process applications from eligible large customers.

Requires the Department of Commerce to consult with the State Energy Office and Department of Environmental Quality to develop: (1) a single point-of-contact process through which eligible large customers seeking to develop on-site generation capacity may coordinate with relevant State agencies regarding applicable permits and approvals; (2) a model permit checklist identifying all State-level permits, registrations, and approvals that may be required for on-site generation capacity of different technologies at different scales.

Subjects local government development regulation that imposes a permit requirement applicable to the construction of new on-site generation capacity to four requirements, including setting out requiring for the timing of application decisions, that the permit application be available electronically, and that the local government only apply land use requirements for on-site generation capacity that is reasonably related to public safety, building code compliance, or compatibility with local land use plans.

Requires an electric public utility to file an annual report with the Commission on the BYOG Program and set out what must be included in the report. Requires the Commission to report a summary of those reports annually to the NCGA, along with recommendations for modifying the BYOG Program.

Requires that no later than 180 days after the section becomes effective that: (1) an electric public utility submit an application for a BYOG Program, and (2) the Department of Commerce develop the single point-of-contact process and the model permit checklist.

Part III.

Appropriates $35 million for 2026-27 from the General Fund to the NC Housing Finance Agency to be allocated to the Workforce Housing Loan Program. Effective July 1, 2026.