NC S720

North Carolina Eastern Municipal Electric Power Agency (NCEMPA) shall actively negotiate with Duke Energy to transfer or sell ownership interests in five electric generating assets: two nuclear units at Brunswick Plant, one nuclear unit at Harris Plant, and two coal-fired plants in Person County.

NCEMPA shall seek to renegotiate contracts with Duke Energy to eliminate or amend exclusive electricity purchase requirements if such renegotiation results in cost savings for NCEMPA, member cities, and their citizens.

NCEMPA must submit results of negotiation efforts to the Utilities Commission and Joint Legislative Commission on Governmental Operations no later than December 31, 2013.

General Assembly intent is for NCEMPA to explore all feasible options to divest ownership in the five generating assets and reduce electric rates for residential and business customers.