H611 Summary

• North Carolina Utilities Commission must conduct a study of wholesale electricity market reforms and report findings to the General Assembly by the 2023 Regular Session (extendable by one year if needed).

• Study must evaluate proposed market structures including establishing a regional transmission organization (RTO), energy imbalance markets, participation in the Southeastern Energy Exchange Market, and other reforms like customer choice programs.

• Commission must examine costs, benefits, and risks of market reforms across generation, transmission, customer rates, environmental quality, economic opportunity, nuclear power plants, and impacts on disadvantaged populations.

• An advisory board with representatives from utilities, state agencies, clean energy organizations, environmental advocates, consumer groups, and academia must be established within 30 days to guide the study.

• Five hundred thousand dollars ($500,000) in nonrecurring funds appropriated to the Utilities Commission for the 2021-2022 fiscal year to hire an independent consulting firm with wholesale electricity market expertise.