A BILL TO BE ENTITLED AN ACT TO REDUCE THE BURDEN OF HIGH ENERGY COSTS ON THE CITIZENS OF NORTH CAROLINA BY ELIMINATING RENEWABLE ENERGY PORTFOLIO STANDARDS; AND TO PROVIDE FOR COST RECOVERY BY PUBLIC UTILITIES FOR CERTAIN COSTS OF COMPLIANCE WITH RENEWABLE ENERGY PORTFOLIO STANDARDS.
House committee substitute makes the following changes to the 1st edition.
Deletes the conforming changes to GS 62-2(a), which amended subdivisions (3a), (6), and (8) and deleted subdivisions (7), (9), and (10), all pertaining to the policy of North Carolina regarding the regulation of public utilities.Amends subdivision (10) to clarify that it is the policy of this state to promote renewable energy and energy efficiency (was, to promote the development of)through the implementation of a Renewable Energy and Energy Efficiency Portfolio Standard (REPS).
Amends GS 62-133.8 toreplace subsections (b) through (f), which set out the Renewable Energy and Energy Efficiency Portfolio Standards (REPS) and were deleted in the first edition. Alsoremoves deletions to subsections (g), and (h), except for (h)(6),(i), and (k) and reinserts subsection (j) which was fully deleted in the first edition.
Provides that incremental costs incurred by an electric power supplier before July 1, 2013, may be recovered as provided in GS 62-133.8(h) to comply with any requirement repealed by this act. Delineates what these costs include for purposes of cost recovery under this act. Provides that in order to recover costs under GS 62-113.8(h), any contract entered into after July 1, 2013, in order to comply with the requirements of GS 62-133.8, as amended by this act, must end by December 31, 2018. Provides that incremental costs incurred by an electric power supplier after July 1, 2013, to comply with GS 62-133.8, as amended by this act, must be recovered before December 31, 2019.
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