North Carolina S1045 requires General Assembly approval for any electric utility rate increases that raise the utility's authorized rate of return on.

North Carolina S1045, the Utility Profit Oversight Act, mandates that any proposed retail electric rates that would increase an electric public utility's authorized rate of return on equity must be ratified by the General Assembly. The North Carolina Utilities Commission cannot establish or allow such rates to become effective without this approval. The Commission may suspend the implementation of proposed rates for up to 330 days pending investigation.

North Carolina S1045 requires General Assembly approval for any electric utility rate increases that raise the utility's authorized rate of return on.

North Carolina S1045, the Utility Profit Oversight Act, mandates that any proposed retail electric rates that would increase an electric public utility's authorized rate of return on equity must be ratified by the General Assembly. The North Carolina Utilities Commission cannot establish or allow such rates to become effective without this approval. The Commission may suspend the implementation of proposed rates for up to 330 days pending investigation.