A BILL TO BE ENTITLED AN ACT PROVIDING THAT EACH ELECTRIC UTILITY IN THE STATE SHALL EQUIP PREMISES WITHIN THE UTILITY'S SERVICE AREA WITH A SMART METER TO HELP ITS CUSTOMERS CONTROL THEIR ENERGY USAGE AND COSTS.
Enacts new GS 62-110.8 requiring each electric utility regulated under GS Chapter 62 to equip each premises within its service area with a smart meter no later than January 1, 2016, to help customers control their energy usage and costs. Each electric utility must also submit an annual report of its activities under this section for the preceding year. Allows the utility to recover its costs through resale of power saved. Requires cost savings realized by the resale to be shared equally by the customer and the utility.
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