Good news -- lower energy bills expected from power agency sale! North Carolina Eastern Municipal Power Agency (NCEMPA) and Duke Energy announced an agreement for the purchase of NCEMPA’s power-generating assets. The sale still must be approved by regulators but would reduce the debt owed by NCEMPA from $1.9 billion to approximately $480 million. The reduced costs for NCEMPA is expected to lower power bills significantly. The agreement follows a plan I advocated (read H889 below) last year. We urged NCEMPA to pursue a sale of its assets to an investor-owned utility in order to reduce the utility’s massive debt, which drove up the cost of electric power significantly higher than other parts of the state. Once regulators approve, this positive step forward will lead to more jobs for our area. High energy costs are preventing businesses from moving here or new businesses from starting here. Family budgets are tight, and lower energy costs will make a big difference on everyone’s bottom line. This approach is the right way to lower costs quickly while maintaining a reliable power supply.
Posted on: Mon, 28 Jul 2014 20:46:11 +0000
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