NC H726

Eliminates the Renewable Energy and Energy Efficiency Portfolio Standard (REPS) requirements that required electric utilities to source specified percentages of electricity from renewable energy and energy efficiency measures by 2021 and thereafter.

Modifies state energy policy declaration to prioritize lowest-cost electric power and allow utilities to choose any energy resource free of state interference, replacing language promoting renewable energy development.

Allows electric utilities to recover all reasonable and prudent costs incurred prior to July 1, 2019, for REPS compliance through annual rider charges on customer bills, with specified per-account maximum charges ($27 residential, $150 commercial, $1,000 industrial as of 2015 and thereafter).

Permits recovery of costs under renewable energy contracts and facility construction costs for which a certificate of public convenience and necessity was issued before July 1, 2019, but restricts new cost recovery after that date.

Takes effect July 1, 2019.