A BILL TO BE ENTITLED AN ACT AUTHORIZING THE UTILITIES COMMISSION TO ADOPT, IMPLEMENT, MODIFY, OR ELIMINATE A RATE ADJUSTMENT MECHANISM FOR NATURAL GAS LOCAL DISTRIBUTION COMPANY RATES.
Amends Article 7 of GS Chapter 62 by enacting new GS 62-133.7A, allowing the Utilities Commission (Commission) to adopt, use, adjust, or eliminate the rate mechanism utilized for natural gas local distribution companies so that such companies can recover the expenses of complying with federal gas pipeline safety standards. Such adjustment is only allowed when the Commission finds it to be in the public's interest.
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