Vote Smart's Synopsis:

Vote to pass a bill that reduces reliance on coal-burning plants in the state and also boosts solar energy in the state.

Highlights:

• Defines "coal retirement and replacement plan" as a plan for retiring a subcritical coal-fired electric generating facility located in North Carolina by December 31, 2030, and the replacement of such a facility with a new source of energy and capacity (Sec. 1-1.b).

• Alleges it is in the public interest for the electric public utilities to accelerate retirement of certain coal-fired electric generating facilities in an orderly and disciplined manner (Sec. 1-4).

• Requires a coal retirement and replacement plan to include all of the following (Sec. 1.d-1):

• The proposed retirement date for the applicable subcritical coal-fired generating facility and the reasons for that proposed retirement date;

• The proposed type, size, and location of the replacement resource or resources intended to replace the energy and capacity of the subcritical coal-fired generating facility in order to ensure safe, reliable, and cost-effective service to the electric public utility's customers and the projected timing of the commercial operation of such replacement resource or resources;

• A forecast of capital costs, fuel costs, other operation and maintenance costs, and the capacity factors of the proposed replacement resource, as well as any assumptions about future regulatory compliance costs; and

• In the case of replacement resources that would require a certificate or otherwise, to the extent not already required above, the information that would be required in connection with an application for certificate of a generating facility.

• Requires an electric public utility to be permitted to submit a PBR application in a general rate case proceeding. A PBR application will include a decoupling rate-making mechanism, one or more PIMs, and a MYRP, including both an earnings sharing mechanism and proposed revenue requirements and base rates for each of the years that a MYRP is in effect or a method for calculating the same (Sec. 3.c.c).

• Requires the North Carolina Utilities Commission to adopt rules to implement the requirements of this law. Rules adopted shall include all of the following matters (Sec. 4.a.j):

• The specific procedures and requirements that an electric public utility shall meet when requesting approval of a PBR application;

• The criteria for evaluating a PBR application;

• The parameters for a technical conference process to be conducted by the Commission prior to submission of any PBR application consisting of one or more public meetings at which the electric public utility presents information regarding projected transmission and distribution expenditures and interested parties are permitted to provide comment and feedback; provided, however, no cross-examination of parties shall be permitted. The technical conference process to be established will not exceed a duration of 60 days from the date on which the electric public utility requests initiation of such process.

• In the event the Commission rejects a PBR application, the process by which an electric public utility may address the Commission's reasons for rejection of a PBR application, the process may include collaboration between stakeholders and the electric public utility to cure any identified deficiency in an electric public utility's PBR application."

• Requires a solar choice tariff to prospectively constitute an electric public utility's net metering arrangement for new customer participation after its effective date (Sec. 6.a-9).

• Establishes it is the policy of the State to encourage electric public utilities to provide expanded renewable energy options for North Carolina large commercial or industrial customers, small commercial or industrial customers, units of local government, and residential customers and to foster the use of renewable energy as part of the electric public utilities' generation mix (Sec. 6.b.a).

Full Bill Text