NC H529

Repeals North Carolina's Renewable Energy and Energy Efficiency Portfolio Standard (REPS) that required electric utilities to meet renewable energy targets of 12.5% of retail sales by 2021.

Allows electric power suppliers to recover reasonable and prudent costs incurred prior to July 1, 2021, for REPS compliance through annual rider charges capped at $27.00 per residential account, $150.00 per commercial account, and $1,000.00 per industrial account.

Permits full cost recovery for expenses under renewable energy purchase contracts entered into before July 1, 2021, and construction costs for renewable facilities with certificates of public convenience and necessity issued before that date.

Modifies state policy to emphasize lowest-cost electric power and utilities' freedom to choose any energy resource type without state interference, replacing previous renewable energy promotion language.

States that carbon dioxide shall not be considered an air pollutant for purposes of renewable energy facility emissions requirements.

Takes effect July 1, 2021.