NC H356

Caps the utilities regulatory fee reserve at one-half of the Commission and Public Staff's annual operating costs, clarifying previous reserve fund limitations.

Sets statutory public utility regulatory fees at 0.148% for noncompetitive jurisdictional revenues, 0.04% for subsection (h) competitive revenues (reduced from 0.06%), and 0.02% for subsection (m) competitive revenues (reduced from 0.05%), effective July 1, 2016.

Grants the Commission authority to increase or decrease the public utility regulatory fee on noncompetitive jurisdictional revenues during the fiscal year if operating costs warrant adjustment, with a maximum cap of 0.175%.

Sets the electric membership corporation regulatory fee at $200,000 annually, removing the previous requirement for annual General Assembly approval.

Allows utilities to recover regulatory fee changes through rate adjustments or Commission-approved accounting orders for deferral of fee obligation changes, effective July 1, 2015.