Governor Stein Champions for Communities, Vetoing Bill That Would Have Increased Utility Bills
Governor Stein sides with communities, vetoing SB 266, a bill that permits utilities to raise rates outside of the usual procedures and charge customers for energy investments that may never be implemented. This legislation, which passed both the Senate and the House, directly undermined a 2021 bill designed to protect consumers by ensuring that utilities could not increase electricity rates without a comprehensive review process. SB 266 rescinded these protections, putting customers at risk of unexpectedly high electricity bills.
Vote Solar Regional Director of the Carolinas, William Munn, issued the following statement:
“Governor Stein’s veto of SB 266 is a critical win for North Carolinians. The data is clear: eliminating the interim carbon target could cost ratepayers up to $23 billion in added natural gas expenses by 2050—a $13 billion hit in today’s dollars. This bill would’ve locked families into volatile fossil fuel prices and rising energy bills. We need to be protecting people from those risks, not codifying them.”
Vote Solar Southeast Senior Regulatory Director, Jake Duncan, issued the following statement:
“By vetoing this bill, the Governor has sided with communities instead of profit-driven utilities. Both chambers were willing to hand Duke the power to use its captive customers as unwilling investors in risky new power plants, shifting financial risk away from shareholders and onto families and small businesses— just like the failed V.C. Summer project in South Carolina, where a similar policy left ratepayers with billions in debt. According to an independent analysis, this law would have given big industrial users a break while increasing residential bills by nearly 19%, or $87 million a year. To add insult to injury, the bill would have let Duke delay its plans to cut carbon pollution, locking in more emissions and more harm to our communities for years to come. Thankfully, the governor saw these risks and acted accordingly.
NC Bill Will Lead to Unexpected Utility Bill Increases
North Carolina lawmakers passed SB 266, a bill that permits utilities to raise rates outside of the usual procedures and charge customers for energy investments that may never be implemented. This legislation directly undermines a 2021 bill designed to protect consumers by ensuring that utilities could not increase electricity rates without a comprehensive review process. SB 266 rescinds these protections, putting customers at risk of unexpectedly high electricity bills.
Vote Solar Regional Director of the Carolinas, William Munn, issued the following statement:
“SB 266 or the ironically titled “Power Bill Reduction Act” threatens to push the financial burden of risky power plant investments onto everyday North Carolinians—especially low- and moderate-wealth families who would actually see higher bills. Instead of prioritizing affordability and clean energy progress, this bill gives utilities a blank check while communities across the state are left footing the bill for projects that may never come online. This isn’t just bad policy—it’s a step backward for energy justice in North Carolina.”
Vote Solar Southeast Senior Regulatory Director, Jake Duncan, issued the following statement:
“By passing this bill, the General Assembly has sided with Duke Energy over the people of North Carolina. Lawmakers have handed Duke the power to use its captive customers as unwilling investors in risky new power plants, shifting financial risk away from shareholders and onto families and small businesses— just like the failed V.C. Summer project in South Carolina, where a similar policy left ratepayers with billions in debt. Lawmakers have also approved a rate change that gives big industrial users a break while increasing residential bills by nearly 19%, or $87 million a year, according to an independent analysis. Worst of all, the bill lets Duke delay its plans to cut carbon pollution, locking in more emissions and more harm to our communities for years to come.”