Adds new GS 62-130.1 to prohibit the Utilities Commission (NCUC) from establishing or allowing any retail electric rates that increase an electric public utility’s authorized rate of return on equity without NCGA ratification of an act that specifically approves such rates. Directs NCUC to order suspension of a retail electric rate that would allow such excess revenue recovery for the electric public utility upon filing of such rate. Provides that the suspension order shall remain in effect until the proposed rates are ratified by the NCGA. States that nothing in this section shall limit NCUC’s general authority to oversee electric public utilities and to prevent the charge of unreasonable rates. For retail electric rates ratified by NCGA, authorizes NCUC (1) to disallow the recovery of rates found to be unjust, unreasonable, discriminatory, or in violation of any other applicable law; (2) to impose conditions on the approval of rates; (3) to rescind, alter, or amend an order approving the rates; or (4) to revise or change the rates in a subsequent rate proceeding.

Amends GS 62-133.16(d)(3) to provide that a suspension of proposed rates subject to NCGA ratification under new GS 62-130.1 may exceed 330 days. Makes technical changes.

Amends GS 62-134(b) to except NCUC suspension orders issued for rates subject to NCGA ratification under new GS 62-130.1 from the requirements of this subsection.

Amends GS 62-135(a) to allow electric public utilities subject to new GS 62-130.1 to temporarily put such suspended rates into effect subject to the existing provisions of this section concerning hearing and suspension of rates. Makes technical changes.

Requires NCUC to conduct a study evaluating the cost of equity capital for electric public utilities doing business in North Carolina and sets out four specified considerations for evaluation. Directs NCUC to submit the study to the specified NCGA committees by January 1, 2027.

Appropriates $10,000 for 2026-27 from the General Fund to NCUC to implement this act.

Effective July 1, 2026.