North Carolina Governor Josh Stein vetoed legislation that would partly repeal an interim mandate for greenhouse gas reductions set in a 2021 law, arguing that the bill would harm consumers and discourage a diverse energy mix.
According to AP News, the proposed legislation largely addressed activities involving the state’s largest utility, Duke Energy, and sought to eliminate the current requirement for electric regulators to “take all reasonable steps to achieve” the reduction of carbon dioxide output by 70% from 2005 levels by 2030.
The 2021 greenhouse gas law was the result of an agreement by then-Democratic Governor Roy Cooper and Republican lawmakers. At least 17 other states have laws with similar net-zero power plant emissions or 100% renewable energy targets.
The bill also contains language that would support Duke Energy in raising electric rates to cover financing costs for the construction of nuclear or gas-powered plants incrementally instead of at the end of the projects.
The bill “walks back our state’s commitment to reduce carbon emissions, sending the wrong signal to businesses that want to be a part of our clean energy economy. My job is to do everything in my power to lower costs and grow the economy. This bill fails that test,” Stein said in a statement.
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