North Carolina legislation · 2025-2026 Session
North Carolina S1024: My Power Bill Is Too High.
Status: Introduced, May 6, 2026
What the bill says
An act to repeal multiyear rate-making authority authorized by s.l. 2021-165 and to direct a reexamination of performance-based rate making to better protect north carolina customers.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO REPEAL MULTIYEAR RATE-MAKING AUTHORITY AUTHORIZED BY S.L. 2021-165 AND TO DIRECT A REEXAMINATION OF PERFORMANCE-BASED RATE MAKING TO BETTER PROTECT NORTH CAROLINA CUSTOMERS. Whereas, S.L. 2021-165 (House Bill 951) authorized performance-based rate making and multiyear rate plans for electric public utilities; and Whereas, under current law, electric public utilities are permitted to propose multiyear rate plans (MYRPs) that allow rates to increase automatically over several years without the same levels of annual regulatory scrutiny; and Whereas, performance-based rate making was intended to align utility financial incentives with outcomes that matter to consumers, including lower costs, reliability, and efficiency; and Whereas, under House Bill 951, performance incentive mechanisms (PIMs) are tied to utility earnings but remain limited in financial impact relative to overall utility revenues and capital investment decisions; and Whereas, utilities operating under traditional regulatory structures continue to earn results based primarily on capital investment, meaning they are financially incentivized to build more generation, transmission, and infrastructure, regardless of whether lower-cost alternatives such as energy efficiency or demand-side management would better serve customers; and Whereas, performance incentive mechanisms in North Carolina have been discussed and implemented at levels that are effectively capped at approximately one percent (1%) of utility earnings, which is insufficient to outweigh the financial incentives associated with large-scale capital …
Sponsors
- Murdock, Natalie S. (D, 20) · primary sponsor
- Salvador, DeAndrea (D, 39) · primary sponsor
- Smith, Kandie D. (D, 5)
- Theodros, Caleb (D, 41)
Latest actions
- : Re-ref Com On Appropriations/Base Budget
- : Withdrawn From Com
- : Ref To Com On Rules and Operations of the Senate
- : Passed 1st Reading
- : Filed
Subjects: INFRASTRUCTURE, BUDGETING, ELECTRICITY GENERATION & DISTRIBUTION, COMMERCE, INSURANCE, UTILITIES, REPORTS, PUBLIC
Common questions
- What is S1024?
- S1024 is a bill in the North Carolina Legislature (2025-2026 Session): My Power Bill Is Too High.
- What does S1024 do?
- In its own words: An act to repeal multiyear rate-making authority authorized by s.l. 2021-165 and to direct a reexamination of performance-based rate making to better protect north carolina customers.
- What is the status of S1024?
- Introduced as of May 6, 2026. Latest action: Re-ref Com On Appropriations/Base Budget (May 6, 2026).
- Who sponsored S1024?
- Murdock, Natalie S. (D, 20), with 3 co-sponsors.
- Where is the official record for S1024?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S1024
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.