Bill > S1026

This bill, titled "Power Bill Protection/Large Load Tariff," aims to reform how North Carolina handles large electricity consumers, defined as "large-load customers" who use 50 megawatts (MW) or more of electricity, and even larger "very large-load customers" using 100 MW or more. Key provisions include requiring electric utilities to file tariffs, or schedules of rates and services, specifically for these large customers with the Utilities Commission, which is the state agency that regulates utility companies. These tariffs must include terms like a minimum 20-year contract, a requirement for customers to pay for infrastructure improvements needed to serve them, and a mechanism to protect other ratepayers from financial harm if a large customer leaves or reduces their usage. For very large-load customers, there are additional requirements to either secure dedicated energy resources or participate in programs to mitigate system costs. The bill also establishes a "Grid Modernization Projects Fund" financed by a surcharge on large-load customers to invest in projects that improve the electricity grid's reliability and efficiency, and it mandates that utilities develop a grid modernization plan to prepare for climate-related threats and other challenges. Furthermore, large-load customers will be required to report their annual energy and water consumption, and the Utilities Commission will consider this data in its planning. Finally, the bill includes an appropriation of $10,000 to the Utilities Commission for purposes related to the act.