AN ACT TO PROVIDE COST RECOVERY FOR ACQUISITION OF JOINT MUNICIPAL POWER AGENCY OWNERSHIP INTEREST IN GENERATING FACILITIES, TO AUTHORIZE MUNICIPALITIES THAT ARE MEMBERS OF JOINT MUNICIPAL POWER AGENCIES TO ENTER INTO SUPPORT CONTRACTS, AND TO ISSUE BONDS TO PAY THE COSTS OF PROJECTS THAT ARE SOLD.
Senate committee substitute to the 1st edition makes the following changes.
Amends GS 62-133.14 to add to the factors that must be considered in determining the amount of the annual rider to the electric public utility's rates that the customer allocation method approved by the Utilities Commission (Commission) in the electric public utility's most recent general rate case must be used. Adds to the items that must be included in the rider's annual adjustment any changes to the customer allocation method determined in any general rate proceeding occurring after the initial establishment of the rider.
Amends GS 159B-14, concerning issuance of bonds for refinancing bonds for costs to a project to no longer limit power supply arrangements to those authorized in GS 159B-12.
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