H1163 Summary

• Prohibits the North Carolina Utilities Commission from approving any merger involving a public utility that owns an electric generation facility in which a municipal power agency (created under Chapter 159B) holds an interest.

• Merger approval is blocked until the earlier of: (1) the municipal power agency retires all debt incurred to purchase its interest in the generation facility, or (2) the municipal power agency sells its interest in the facility.

• Imposes an additional fee equal to 25% of the standard regulatory fee on any merged public utility entity for the first two fiscal years following commission approval of the merger.

• Becomes effective upon enactment.