RALEIGH, N.C. (AP/WNCN) – Legislative leaders and Democratic Gov. Roy Cooper have announced an agreement on an energy bill that aims to meet Cooper’s goals on greenhouse gas reductions.
The measure would remove most of the prescriptive actions that House Republicans laid out in an earlier version of the bill that passed the chamber in June.
Friday’s deal still would allow Duke Energy to seek multiyear rate increases, instead of year by year.
“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,” Cooper said in a news release.
Cooper said that the bill would include “strong protections that limit the utility’s ability to over earn.”
The new bill tells the Utilities Commission to create a roadmap on how to reach goals of reducing carbon dioxide emissions by 70% by 2030 compared to 2005 levels.
The agreement also calls for public utilities to use securitization at 50% to retire coal-fired power plants “resulting in lower cost to consumers,” a news release from Cooper’s office said.