Bill altering emissions reductions awaits signature

Senate Bill 266 changes emissions reductions to 70% by 2050 instead of 2030

A bill headed to Gov. Josh Stein would push back emissions standards that were signed into law in 2021. (Chuck Burton / AP Photo)

RALEIGH — A bill altering the schedule for reduction in emissions in the state has been sent to Gov. Josh Stein for his signature.

Senate Bill 266, filed by Sens. Tim Moffitt (R-Henderson), Warren Daniel (R-Burke) and Danny Britt (R-Robeson), unanimously passed the Senate on May 7 by a vote of 47-0.

The centerpiece of the bill eliminates the previous schedule in a 2021 law that ordered a 70% emissions reduction by 2030 and replaces it with a goal of 2050.

According to the Senate’s press release, the changes made by the bill will save North Carolinians an estimated $15 billion.

“If our state wants to remain competitive globally, we need to take steps now to keep our energy sources reliable and least-cost,” Moffitt said in a press release. “By taking these proactive steps, our residents and job creators can confidently build a future here knowing that blackouts and astronomical bills won’t plague North Carolina.”

The bill was originally a piece of legislation dealing with building code flood plain exemptions.

“Our residents shouldn’t be saddled with higher power bills to satisfy arbitrary targets,” Senate Leader Phil Berger (R-Eden) said. “Senate Bill 266 ensures that North Carolina will have reliable energy at competitive prices to serve our citizens and businesses. Gov. Stein must sign this bill immediately.”

On June 5, the House introduced a committee substitute, which was later passed by that body in a 75-36 vote June 10. The Senate concurred with the House’s version on June 19 by a vote of 29-11.
Democrat Sens. Dan Blue (Wake), Paul Lowe (Forsyth) and Joyce Waddell (Mecklenburg) voted in favor of passage.

The measure also allows North Carolina electric utilities to recover financing costs (around 5%) for construction work in progress on baseload electric generating facilities, such as nuclear or natural gas plants, through base rate increases. Those costs can be passed on to customers but are subject to annual oversight by the state’s Utilities Commission.

Additionally, recovery is limited to financing costs on approved construction expenses, with a sunset provision for natural gas facilities after Dec. 31, 2033.

It is unclear what action Stein will take on the measure. His predecessor, Roy Cooper, signed the 2021 legislation. Cooper sought a 70% reduction in energy producer carbon emissions from 2005 levels by 2030, aiming to achieve “zero-net” CO2 emissions by 2050.

About A.P. Dillon 1689 Articles
A.P. Dillon is a North State Journal reporter located near Raleigh, North Carolina. Find her on Twitter: @APDillon_