AN ACT TO PROVIDE RECOVERY OF CAPITAL RELATED COSTS INCURRED BY A NATURAL GAS UTILITY FOR CONSTRUCTING NATURAL GAS INFRASTRUCTURE FOR A LARGE MANUFACTURING EMPLOYER, AND TO AMEND THE LAWS RELATED TO ENERGY POLICY.
House committee substitute to the 1st edition makes the following changes.
Amends GS 62-133.13 to modify the conditions that must be met for natural gas economic development infrastructure cost recovery to: (1) require the project be in an area where adequate natural gas infrastructure for the project is not economically feasible (was, is not available); (2) include a prospective customer in those that can enter into a binding commitment; and (3) require that the projected margin revenues not recoverable under GS 62-133.4 (was, the projected non-gas revenues) will not be sufficient to cover the cost of the infrastructure. Adds that any rate adjustment surcharge mechanism adopted under the statute terminates with the natural gas local distribution company's next general rate case, in which the eligible infrastructure development costs must be included in the company's rate base. Provides that nothing in the statute precludes the company from recovering eligible economic development infrastructure costs in a general rate case. Makes clarifying changes.
Amends GS 143B-437.021 to amend the eligibility requirements to include that the business employs or intends to employ (was, employs) the specified number of employees.
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