Raleigh, NC – Today the NC House unanimously passed bipartisan legislation that would allow dozens of eastern North Carolina communities to proceed with a critical sales agreement that will reduce electricity rates and spur job growth and economic development across eastern North Carolina. A signing ceremony by the Governor is being planned in (208 E. Nash St,Wilson) for Thursday at 11 am.
This sales agreement has already been approved by the Federal Energy Regulatory commission, but requires state legislative action to proceed.
The agreement would allow Duke Energy Progress to purchase stakes in power generation facilities currently owned in part by North Carolina Eastern Municipal Power Agency (NCEMPA). The agency is currently comprised of 32 cities and towns in eastern North Carolina.
“This effort is an opportunity to take one of the structural steps necessary to reduce the disparities between the east and the rest of the state. It will make the region more competitive, attract new jobs, and reduce rates for families and businesses, allowing them to have comparable electric rates to surrounding communities. It will encourage growth and prosperity that has largely been stifled in the eastern part of the state,” said Sen. Angela Bryant.
This effort is the cornerstone legislation of a decade’s long struggle for the 32 cities and towns in Eastern North Carolina to reduce the high energy rates that resulted from the 1975 Joint Municipal Power and Energy act. A former member of the NC House, Bryant has been pushing legislation to ease this cost burden for years. In 2011, she worked with Rep. Farmer-Butterfield to shepherd through legislation requiring that NCEMPA hold a public meeting, and for municipalities to hold public hearings, before any and all rate changes. Both the public meetings and the hearings require two weeks’ notice so the public has time to participate. This ensures that those affected by the new agreement between Duke and NCEMPA will remain informed, and that the process is transparent and open to the public.
“This sale doesn’t just benefit eastern North Carolina, as it will provide fuel savings to all Duke Progress customers and support economic growth and development across the state. This agreement has been a long time in the making. This effort has taken years, and after a long fought battle for the people of Eastern North Carolina, I am so pleased to see the bipartisan support it has received,” said Sen. Bryant.