NC S261

Eliminates the interim 2030 deadline requiring a 70% reduction in CO2 emissions from electric utilities, while retaining only the 2050 carbon neutrality goal

Extends the deadline for the Utilities Commission to develop a Carbon Plan with electric utilities from December 31, 2022 to December 31, 2026

Creates a new alternative cost recovery mechanism allowing utilities to increase base rates for construction work in progress on baseload electric generating facilities outside of standard rate-making proceedings, effective 30 days after Commission approval

Requires the Commission to find overall cost-savings for customers over the facility's lifetime before approving the alternative rate recovery mechanism for construction work in progress

Applies to electric public utilities serving at least 150,000 North Carolina retail customers as of January 1, 2021