AN ACT TO DIRECT THE NORTH CAROLINA UTILITIES COMMISSION TO CONDUCT A STUDY OF NORTH CAROLINA WHOLESALE ELECTRICITY MARKET REFORMS AND ISSUE A REPORT TO THE GENERAL ASSEMBLY REGARDING ANY PROPOSED REFORMS AND PUBLIC BENEFITS ASSOCIATED THEREWITH.
Includes whereas clauses. Directs the NC Utilities Commission (Commission) to conduct a study to evaluate the reform of the regulatory wholesale electricity market in the State. Requires the Commission to (1) evaluate proposed market structures, including four specified, such as participation in the Southeastern Energy Exchange Market (defined as a proposed 15-minute automated energy exchange market between balancing authorities in the southeastern US involving over 15 entities), (2) examine five specified components, including the legal and procedural requirements in NC, at the Federal Energy Regulatory Commission, or in other states associated with adoption of any recommended electricity market reform measures, and (3) consider how to maintain or enhance stakeholders' input into the electricity regulatory and policy development processes and social equity in providing affordable electricity to all communities and customer classes under the proposed wholesale market reform structure.
Directs the Commission to initiate the study within 30 days of the date the act becomes law, and by that date, establish an advisory board for the conduct of the study. Establishes minimum membership of the advisory board, including representatives from the Department of Environmental Quality, the NC Public Staff, the Attorney General, Duke Energy, Dominion Energy, municipal and cooperative utilities, the NC Clean Energy Business Alliance, the NC Sustainable Energy Association, as well as representatives of each class of consumers, power producers, academia, and environmental advocacy and social equity and justice communities.
Directs the Commission to report to the NCGA upon its convening of the 2023 Regular Session. Authorizes a one-year extension as deemed necessary by the Commission to adequately evaluate all matters required by the study. Requires legislative recommendations regarding whether to enact reformations to NC's wholesale electricity marketplace, including draft legislation, applicable requirements under statute and rule, and a proposed schedule, as specified.
Sets forth four defined terms used in the act.
Appropriates $500,000 from the General Fund to the Commission for 2021-22 to engage an independent consulting firm with experience and expertise in wholesale electricity markets to assist the Commission with the study.
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