North Carolina legislation · 2025-2026 Session
North Carolina S1045: Utility Profit Oversight Act.
Status: Introduced, May 5, 2026
What the bill says
An act to require ratification by the general assembly of any rates proposed by an electric public utility that increases the utility's authorized rate of return on equity.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO REQUIRE RATIFICATION BY THE GENERAL ASSEMBLY OF ANY RATES PROPOSED BY AN ELECTRIC PUBLIC UTILITY THAT INCREASES THE UTILITY'S AUTHORIZED RATE OF RETURN ON EQUITY. The General Assembly of North Carolina enacts: SECTION 1. Article 7 of Chapter 62 of the General Statutes is amended by adding a new section to read: "§ 62-130.1. General Assembly ratification of rates that increase an electric public utility's authorized rate of return on equity. (a) Ratification Requirement. - Notwithstanding any other provisions of this Chapter, the Commission shall not establish or allow to become effective any retail electric rates that increase, or have the effect of increasing, an electric public utility's authorized rate of return on equity, unless ratified by an act of the General Assembly that specifically approves such retail electric rates. (b) Suspension Order. - If an electric public utility files with the Commission retail electric rates set at an amount that would have the effect of increasing the utility's authorized rate of return on equity, the Commission shall issue an order to suspend the operation of such retail electric rates to the extent that it would allow revenue recovery in excess of the utility's current rate of return on equity authorized by the Commission. Notwithstanding the provisions of G.S. 62-133.16(d), 62-134(b), and …
Sponsors
- Salvador, DeAndrea (D, 39) · primary sponsor
- Garrett, Michael (D, 27) · primary sponsor
- Grafstein, Lisa (D, 13) · primary sponsor
- Adcock, Gale (D, 16)
- Applewhite, Val (D, 19)
- Batch, Sydney (D, 17)
- Garson, Jonah (D, 23)
- Mohammed, Mujtaba A. (D, 38)
- Smith, Kandie D. (D, 5)
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- : Withdrawn From Com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, ELECTRICITY GENERATION & DISTRIBUTION, COMMERCE, UTILITIES, REPORTS, PUBLIC, COMMISSIONS, WATER & SEWER SYSTEMS
Common questions
- What is S1045?
- S1045 is a bill in the North Carolina Legislature (2025-2026 Session): Utility Profit Oversight Act.
- What does S1045 do?
- In its own words: An act to require ratification by the general assembly of any rates proposed by an electric public utility that increases the utility's authorized rate of return on equity.
- What is the status of S1045?
- Introduced as of May 5, 2026. Latest action: Re-ref Com On Appropriations/Base Budget (May 5, 2026).
- Who sponsored S1045?
- Salvador, DeAndrea (D, 39), with 8 co-sponsors.
- Where is the official record for S1045?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S1045
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.