NC H265

Authorizes the North Carolina Utilities Commission to approve an annual rider to electric utility rates to recover costs of acquiring and maintaining ownership interests in generating facilities purchased from joint municipal power agencies, with costs levelized over the useful life of assets.

Allows municipalities that are members of joint agencies to enter into support contracts to pay a proportionate share of refinanced bonds when joint agencies sell facilities, including financing collateral posting requirements for replacement power arrangements.

Permits joint agencies to issue bonds to refinance outstanding debt from facility sales and to finance collateral posting requirements for replacement power supply arrangements, secured by support contract payments from member municipalities.

Requires municipalities to fix electric rates sufficient to cover all operational costs, debt service on bonds, and amounts owed under support contracts to joint agencies, with authority for the Local Government Commission to enforce compliance.

Extends the legislative findings in Chapter 159B to acknowledge that municipalities may benefit from facility dispositions, debt refinancing, and replacement power resources through joint agencies.