Utility Profit Oversight Act.

SB 1045, titled the Utility Profit Oversight Act, requires the North Carolina General Assembly to explicitly approve any proposed electric utility rate increases that would raise the utility's authorized return on equity. Under this bill, the Public Service Commission must immediately suspend such rate changes until the legislature passes a specific act ratifying them, ensuring that significant profit increases receive direct legislative oversight. The legislation also mandates a study by the Commission to evaluate the cost of equity capital for electric utilities in the state. By shifting the approval power for these specific financial adjustments from the regulatory commission to the state legislature, the bill aims to add a layer of political accountability to utility pricing decisions.