- Requires the NC Utilities Commission (Utilities Commission) to follow the least cost pathway in reducing carbon emissions by 70% by the year 2030 and achieving carbon neutrality by 2050 without sacrificing reliability. The plan will be developed by the Utilities Commission with utility and stakeholder input and reviewed every two years to allow for improving and emerging technologies.
- Requires 45% of solar power to come from a competitive bidding process among Independent Power Producers (IPP) and 55% from Public Utilities, which will help reduce costs and encourage innovation.
- Makes energy efficiency improvements more affordable for more North Carolinians, particularly those with low to moderate incomes. Consumers would benefit from access to low to zero interest capital and the ability to qualify based on factors beyond credit scores and collateral. They could also pay down the cost of these improvements through a monthly payment that is taken care of by the resulting savings on their lower cost electric bill.
- Requires Public Utilities to use securitization at 50% to retire coal-fired power plants resulting in lower cost to consumers.
- Provides for the Utilities Commission to develop multi-year rate plans and performance-based incentives on ratemaking. This provides the utility a better pathway to invest in what’s needed to make the clean energy transition and align more of their earnings to match energy efficient savings and other public interest goals. It also includes strong protections that limit the utility’s ability to over earn.
- Helps ensure reliable energy by maintaining the Public Utility vertical integration model with a Utilities Commission that retains robust regulatory authority and discretion.
Today Governor Cooper vetoed two common sense bills. House Bill 805 would have enforced harsher penalties for rioters while striking a common sense balance of cracking down on violence while preserving the first amendment rights of protestors. House Bill 324 would have protected students from discrimination in the classroom and teachers from discriminatory and radical training programs.
House Speaker Tim Moore said, “Last year, I watched rioters cause enormous damage to downtown Raleigh while the Governor did nothing. Today’s veto is another slap in the face to the small business owners and residents of cities and towns across this state that were damaged by lawless riots.”
“House Bill 805 is a common sense bill that would have protected small businesses and individuals in the event that a protest became violent and focused solely on the perpetrators of violence rather than peaceful protestors. Every suggested change to improve the bill from the other side of the aisle was incorporated. Unfortunately, for this Governor pandering to the far left is more important than the rule of law.”
He continued, “The governor also vetoed House Bill 324 today, which would have ensured that students of every race would be protected from discrimination in the classroom. I am disappointed that Governor Cooper would block legislation that simply protects students or teachers from being forced to accept the false idea that one race is superior or inferior to another.”