N.C. Governor Josh Stein Vetoes SB 266
Governor Stein Vetoed Senate Bill 266 (SB 266) this last Wednesday, July 2. Environmental groups applaud his decision to veto the bill’s threats to North Carolina’s environment and economy.
Stein’s statement explaining his veto of SB 266 reads as follows: “This summer’s record heat and soaring utility bills has shown that we need to focus on lowering electricity costs for working families — not raising them. And as our state continues to grow, we need to diversify our energy portfolio so that we are not overly reliant on natural gas and its volatile fuel markets. Recent independent analysis of Senate Bill 266 shows that this bill could cost North Carolina ratepayers up to $23 billion through 2050 due to higher fuel costs.
“This bill not only makes everyone’s utility bills more expensive, but it also shifts the cost of electricity from large industrial users onto the backs of regular people – families will pay more so that industry pays less. Additionally, this 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.”
What Does this Veto Mean for North Carolina?
By vetoing SB 266, Stein demonstrates North Carolina’s commitment to a low-carbon, clean energy economy. His decision saves ratepayers from footing Duke Energy’s bills for expensive energy plants that have not been built.
“Governor Stein continues to stand up for hardworking North Carolinians against Duke Energy’s greed,” explains Dan Crawford, director of governmental relations at NCLCV. “Clean energy is good for ratepayers, our environment, and our economy. North Carolina ranks 9th in the nation for clean energy jobs and 1st for rural clean energy jobs. These are family-supporting jobs that help build a more affordable, sustainable future”
Stein made the right decision to protect North Carolinians. NC General Assembly members must follow suit.
