Energy

This bill restricts the City of Rocky Mount from using money earned by its electric utility to fund general city expenses beyond specific operational needs. It mandates that revenue from electric rates must primarily cover the costs of running the power system, paying off related debts, and keeping rates low for customers. The only exception allows the city to transfer a limited amount of surplus funds to other municipal accounts, capped at the greater of 3% of the system's assets or 5% of its annual revenue. Effective July 1, 2026, these rules apply exclusively to Rocky Mount, preventing the transfer of electric utility profits to the city's general fund for unrelated purposes.

Senate Bill 730 proposes to expand North Carolina's Clean Energy and Energy Efficiency Portfolio Standard (CEPS). The bill aims to include existing nuclear and large hydroelectric power facilities within the definition of what counts as clean energy. Specifically, it amends the definition of "New clean energy facility" to include nuclear energy facilities (including uprates) and fusion energy facilities placed into service on or after January 1, 2007. This change would allow electric power suppliers to use these sources to meet their state-mandated clean energy targets.