Bill Summary for S 559 (2019-2020)

Summary date: 

Aug 20 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 559 (Public) Filed Tuesday, April 2, 2019
AN ACT TO PERMIT FINANCING FOR CERTAIN STORM RECOVERY COSTS.
Intro. by Rabon, Hise, Blue.

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Bill summary

House amendment to the 4th edition makes the following changes.

Part II.

Eliminates all provisions of Part II, including proposed GS 62-133A, which authorized the Utilities Commission to approve alternate rate methodology.

Instead, directs the Utilities Commission (Commission) to study the advisability of authorizing specified alternative methods for fixing rates under GS 62-133 for general rate case proceedings for electric public utilities, including studying multiyear rate plans, banding of authorized returns, performance-based ratemaking, revenue decoupling, or any combination of those methods. Requires the Commission to coordinate with Public Staff, and examine other states' experiences allowing alternative rate-setting mechanisms, identify associated advantages and disadvantages, and their impact on consumers, service quality, reliability, resource integration, electric grid modernization, emissions, and any other relevant factors. Directs the Commission to establish a stakeholder process within 60 days of the effective date of the act to support and provide comment on the study. Identifies 12 stakeholders to be included in the process to the extent feasible. Requires the Commission to report to the specified NCGA committee by March 1, 2020.

Part III.

Makes conforming changes to the act's effective date provisions. Changes the act's long title.

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