NC H921

Requires each electric utility regulated in North Carolina to install smart meters at all premises within its service area by January 1, 2016.

Defines "smart meter" as a digital electric meter connected to high-speed internet that measures usage data in real time and enables two-way communication between utility and customer.

Mandates utilities submit annual reports to the Commission beginning January 1 of each year detailing smart meter installation progress and customer cost-savings.

Allows utilities to recover smart meter installation costs and automation expenses through resale of power saved by customers, with savings split equally between customer and utility.

Permits utilities to issue customer savings as a monthly billing credit rather than separate payment.