A BILL TO BE ENTITLED AN ACT TO REDUCE THE BURDEN OF HIGH ENERGY COSTS ON THE CITIZENS OF NORTH CAROLINA BY ELIMINATING RENEWABLE ENERGY PORTFOLIO STANDARDS; AND TO PROVIDE FOR COST RECOVERY BY PUBLIC UTILITIES FOR CERTAIN COSTS OF COMPLIANCE WITH RENEWABLE ENERGY PORTFOLIO STANDARDS.
Amends GS 62-133.8 to delete subsections (b) through (f), which set out the Renewable Energy and Energy Efficiency Portfolio Standards (REPS). Makes conforming changesto subsection (a), which defines terms as used in this section. Amends the catch line to read Renewable Energy(was, Renewable Energy and Energy Efficiency Portfolio Standards (REPS)). Amends subsection (h) to provide for cost recovery for reasonable and prudent costs incurred by an electric power supplier before July 1, 2013, for certain costs of complying with REPS. Provides that after July 1, 2013, the Environmental Management Commission is restricted to allowing cost recovery only for the reasonable and prudent costs incurred before July 1, 2013. Specifies that those "costs incurred prior to July 1, 2013," are (1) costs under renewable energy purchase contracts entered into before July 1, 2013, and (2) costs of construction of renewable energy facilities for which a certificate of public convenienceand necessity was issued by the Commission before July 1, 2013.
Makes additional conforming changes to delete references regarding REPS. Also makes conforming changes to GS 62-2(a), the state's declaration of public policy with regards to the services and operations of public utilities.
Effective July 1, 2013.
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