Bill Summary for H 265 (2015-2016)
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| View NCGA Bill Details | 2015-2016 Session |
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.Intro. by Collins, S. Martin, Stam, Pierce.
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Bill summary
House committee substitute makes the following changes to the 1st edition.
Amends new GS 62-133.14, which allows the North Carolina Utilities Commission (Commission), upon petition of an electric public utility and after a hearing, to approve an annual rider to the electric public utility's rates to recover specified costs, adding a new requirement that the Commissioner must utilize the customer allocation methodology approved by the Commission in the electric public utility's most recent general rate case in determining the amount of the rider. Adds a new annual adjustment to the rider that the utility is required to file, providing that it must file any changes to the customer allocation methodology determined in any general rate proceeding occurring after the initial establishment of the rider.
Amends proposed GS 159B-14, deleting "as authorized in GS 159B-12" from the provision that allowed the issuance of refinancing bonds for the purpose of financing any collateral posting requirements of replacement power supply arrangements as authorized in GS 159B‑12.