SB 3 rolls along—but with resistance | North Carolina | Indy Week
Pin It

SB 3 rolls along—but with resistance 

click to enlarge followup.jpg

After a relatively smooth ride through Senate committees, renewable energy legislation packed with perks for utilities hit turbulence last week in the House Energy and Energy Efficiency Committee. After hours of debate, SB 3 passed favorably and now moves to the Public Utilities Committee.

SB 3 contains controversial provisions for construction work in progress, known as CWIP or "baseload financing." State Rep. Susan Fisher (D-Buncombe) proposed an amendment to delete CWIP from the bill, instead establishing a study commission to analyze its financial implications. Her motion failed.

CWIP allows energy companies to ask the N.C. Utilities Commission to raise rates to pay for construction before it is complete. This makes the venture less financially risky for utilities and their shareholders, but foists construction costs on ratepayers without guarantees the plantsespecially nuclear facilitieswould be built.

State legislation severely limited CWIP in 1982, and currently it applies only to instances in which a utility's financial state is "dire." SB 3 would require only that utilities successfully argue it is "prudent."

"The questions that remain are too great," Fisher said. "I've heard from constituents that it is time to move forward with renewable energy. This portion of the bill moves us backward."

Rep. Pryor Gibson (D-Anson, Union) countered that eliminating CWIP "would destroy 18 months of work."

In 2006, renewable energy legislation, which didn't include CWIP, died in the session's final hours. CWIP opponents have argued that the provision couldn't pass as a standalone bill and has to be piggybacked on renewables legislation to succeed.

Comments

Subscribe to this thread:

Add a comment

INDY Week publishes all kinds of comments, but we don't publish everything.

  • Comments that are not contributing to the conversation will be removed.
  • Comments that include ad hominem attacks will also be removed.
  • Please do not copy and paste the full text of a press release.

Permitted HTML:
  • To create paragraphs in your comment, type <p> at the start of a paragraph and </p> at the end of each paragraph.
  • To create bold text, type <b>bolded text</b> (please note the closing tag, </b>).
  • To create italicized text, type <i>italicized text</i> (please note the closing tag, </i>).
  • Proper web addresses will automatically become links.

Latest in North Carolina



Twitter Activity

Comments

SO, reward capitalists for being stupid enough to put facilities in flood plains?
JFC, who comes up with this …

by dodahman 1 on The Neuse River Is Sick, and Advocates Blame the Pork and Poultry Industries (North Carolina)

looking for single wide trailer i durham county granville creedmoor or wakke forestsmall wooded lot prefered contac johnhayes
641@yahoo.com …

by John Hayes on Abandoned mobile homes plague North Carolina (North Carolina)

Most Recent Comments

SO, reward capitalists for being stupid enough to put facilities in flood plains?
JFC, who comes up with this …

by dodahman 1 on The Neuse River Is Sick, and Advocates Blame the Pork and Poultry Industries (North Carolina)

looking for single wide trailer i durham county granville creedmoor or wakke forestsmall wooded lot prefered contac johnhayes
641@yahoo.com …

by John Hayes on Abandoned mobile homes plague North Carolina (North Carolina)

Its now 2017. Anyone have any free mobile homes? It doesnt matter if they need fixed up or not. We …

by William Josiah on Abandoned mobile homes plague North Carolina (North Carolina)

How can I go about trying to get a 3 or 4 bedroom double or triple wide mobile home. Me …

by Taetae on Abandoned mobile homes plague North Carolina (North Carolina)

One sentence from this article -- "Democrats tend to cluster in urban areas" -- if examined by a journalist or …

by Lee Mortimer on Can Republican-Sponsored Redistricting Reform Save North Carolina’s Democracy? (North Carolina)

© 2017 Indy Week • 320 E. Chapel Hill St., Suite 200, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
RSS Feeds | Powered by Foundation