North Carolina’s clean energy future, and your household budget, are under immediate threat. Governor Josh Stein has vetoed Senate Bill 266, misleadingly titled “The Power Bill Reduction Act.” We applaud the Governor for rejecting a bill that would allow unchecked utility rate increases.
But the fight isn’t over. Now, the bill goes back to the General Assembly, where legislators will have the opportunity to vote to override the Governor’s veto. To prevent this harmful bill from becoming law, we need them to uphold the veto.
SB 266 is a revised and more expansive version of the SB 261 bill we’ve been tracking for months, and would modify several aspects of the state’s energy policy.
Here’s what SB 266, as revised, would do:
A recent analysis by NC State University shows that SB 266 would increase the fuel costs paid by North Carolina households by $23 billion through 2050. This is simply unacceptable. North Carolina has already endured some of the highest rate increases in the country over the past year. SB 266 would approve another mechanism for Duke Energy to bypass normal regulatory oversight and force more costs onto consumers, while allowing Duke Energy to back out of its pledge to lower carbon emissions by 2030.
Your voice is critical. Contact your state legislators and urge them to vote NO on overriding the Governor’s veto, and to prioritize affordable, clean energy for all North Carolinians.
