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SB 716

Relating to failure to pay required contributions and interest payments for certain retirees who transfer between retirement systems

2025 Regular Session Introduced by Mike Oliverio

NCUC will study costs, benefits, feasibility, and legal needs of potential electricity-market reforms (EIM, RTO, SEEM) to boost competition and reliability.

Chapter 201, Acts, Regular Session, 2025
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Bill Summary · SB 716

SB 716 — Fair Competition Study Act (North Carolina) — Summary

Status: Passed 1st Reading
Introduced: February 21, 2025
Primary subject areas: utilities, electricity markets, infrastructure, studies, appropriations, commissions

Main purpose

SB 716 directs the North Carolina Utilities Commission (NCUC) to conduct a comprehensive, legislatively funded study to evaluate the costs, benefits, feasibility, and legal requirements of potential electricity-market reforms for North Carolina and the broader Southeastern U.S. The focus is on whether and how an energy imbalance market (EIM), a regional transmission organization (RTO), or other reforms (including changes to the Southeastern Energy Exchange Market — SEEM) could improve competition, reliability, emissions outcomes, and economic opportunities.

Key provisions

  • Requires the NCUC to initiate the study within 90 days of the act becoming law.
  • Study scope (explicit topics to be analyzed):
    • Costs and benefits of the current North Carolina energy market.
    • Possible reforms to the SEEM.
    • Feasibility, costs, and benefits of an EIM or an RTO covering NC, SC, or the Southeast.
    • Legal and procedural requirements at the state and Federal Energy Regulatory Commission (FERC) levels (identifying statutes/regulations that might need amendment).
    • Detailed analyses of impacts on:
    • generation mix, capacity adequacy and diversity;
    • customer service and electric rates;
    • environmental quality and carbon emissions;
    • economic opportunity;
    • impacts on disadvantaged or vulnerable communities.
  • Definitions provided for key terms (consultant, EIM, RTO, SEEM). Consultants retained must be independent and free of conflicts of interest.
  • The NCUC may contract for professional, clerical, or consultant services and should seek available federal funding.
  • Reporting requirement: NCUC must submit a written report to the Joint Legislative Energy Policy Commission within one year of enactment.
  • Appropriation: $350,000 (nonrecurring) from the General Fund to the NCUC for FY 2025–2026 to fund the study.
  • Effective immediately upon becoming law.

Who would be affected

  • State government: NCUC, Joint Legislative Energy Policy Commission.
  • Electricity providers and utilities (investor‑owned, municipal, cooperative), independent power producers, transmission operators.
  • Ratepayers (residential, commercial, industrial) through potential future market or policy changes.
  • Local governments, disadvantaged and vulnerable communities (explicit focus for impact analysis).
  • Possible federal involvement (FERC) if interstate market participation or RTO formation is pursued.

Procedural & timeline highlights

  • Study start: within 90 days of enactment.
  • Deliverable: written report to the Joint Legislative Energy Policy Commission within 1 year.
  • Funding: $350,000 allocated for the study in FY 2025–26 (one-time).

Potential next steps (post‑study)

The bill itself does not change market structure; it creates an evidence base. Depending on the study findings, the Legislature or NCUC could consider follow‑on rulemaking, statutory changes, or pursuing federal approvals to implement an EIM, RTO, or other reforms.

Compiled from official sources — confirm details with the bill’s official record.

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