NC S628

Allows natural gas utilities to recover costs for constructing natural gas infrastructure for large manufacturing projects through a rate adjustment surcharge mechanism, subject to North Carolina Utilities Commission approval.

Eligible projects must involve a business investing at least $200 million in real property and tangible personal property, employing at least 1,500 full-time employees, and paying wages at least 110% of the county average.

Utilities can only recover infrastructure costs if the project lacks adequate natural gas infrastructure, the business commits to 10-year service, and the infrastructure has negative net present value (economically infeasible without cost recovery).

Recoverable costs include planning, development, construction, return on investment, depreciation, and property taxes; annual investment is capped at $25 million per year and cumulative rate surcharges cannot exceed 5% of annual non-gas revenues.

Requires eligible businesses to provide health insurance covering at least 50% of premiums for employees, maintain a clean OSHA safety record, and meet environmental impact standards; requires annual wage and health insurance certifications while cost recovery mechanism is active.