A BILL TO BE ENTITLED
AN ACT providing that each electric utility in the state shall equip premises within the utility's service area with a smart meter to help its customers control their energy usage and costs.
The General Assembly of North Carolina enacts:
SECTION 1.  Article 6 of Chapter 62 of the General Statutes is amended by adding a new section to read as follows:
"§ 62‑110.8.  Smart meters; smart grid technologies.
(a)	Each electric utility regulated under this Chapter shall equip each premises within its service area with a smart meter no later than January 1, 2016, to help customers control their energy usage and costs. For purposes of this section, the term "smart meter" means a digital electric meter connected to high-speed internet that measures and records usage data in real time and allows for two‑way communications between the utility and the customer. The term "premises" has the same meaning as in G.S. 62‑110.2(a)(1), and the term "electric utility" includes an electric membership cooperation operating within this State. Not later than January 1 of each year, each electric utility shall submit an annual report of its activities under this section for the preceding year to the Commission. The report shall include the progress made in equipping premises in the utility's service area with smart meters and information on cost-savings to the utility's customers.
(b)	The electric utility shall recover its costs through resale of the power saved in complying with the provisions of this section, including the costs of digitally automating the components of its power supply system. The cost-savings realized by the utility's resale of the power saved by customers using smart meters shall be shared equally by the customer and the utility. The utility may elect to reflect the customer's savings as a credit on the customer's monthly billing statement."
SECTION 2.  This act is effective when it becomes law.