Bill Summary for H 332 (2015-2016)

Summary date: 

Apr 16 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 332 (Public) Filed Monday, March 23, 2015
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.
Intro. by Hager, Collins, McElraft, Saine.

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Bill summary

House committee substitute makes the following changes to the 2nd edition.

Amends proposed GS 62-133.13(e) concerning rate adjustment mechanisms, providing that any rate adjustment surcharge mechanism adopted under the statute terminates upon the earlier of the full recovery of the allowed costs as specified or 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 (previously, only could terminate with the next general rate case as specified). Adds language to subsection (f), the limitations provision, providing that the aggregate amount of eligible infrastructure development costs recovered under rate adjustment surcharge mechanisms for natural gas local distribution companies in North Carolina cannot exceed $75 million. 

Makes clarifying changes. 

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