Vote Smart's Synopsis:

Vote to pass a bill that authorizes increases in electrical cost for power plants not yet built in North Carolina.

Highlights:

• Authorizes increases in electrical costs for power plants not yet built in North Carolina (Sec. 1).

• Specifies that if the state utility commission determines there is an overall cost-savings for customers over the life of the generating facility and a baseload electric generating facility has been subject to an annual ongoing review process the Commission shall, upon determining through the ongoing review process that the expenditures were reasonably and prudently incurred, and allow an increase in base rates outside of the rate-making processes established under this bill (Sec. 1).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the Governor (Sec. 2).

Full Bill Text