Governor Josh Stein recently vetoed Senate Bill 266 – the Power Bill Reduction Act, raising concerns about potential long-term costs. His veto message referenced an independent memo from professors affiliated with NC State that claimed the bill could cost up to $23 billion. However, this analysis was based on the highest possible natural gas price projections — a scenario experts say is highly unlikely. The data used in the memo has been widely criticized as misleading and not representative of realistic market trends.
Despite the veto, SB 266 maintained strong bipartisan support in both the North Carolina House and Senate, and both chambers voted to override the veto, ensuring the bill becomes law. This is a major victory for cooperative members across the state who depend on affordable, reliable electricity.
North Carolina’s energy system is currently facing an urgent challenge. Projected peak electricity demand has surged by 4,000 megawatts in just two years, due to rapid population growth and the state’s success in attracting new, energy-intensive manufacturing. At the same time, traditional generation sources are being retired, placing more strain on the grid. The situation demands immediate and strategic action — and SB 266 delivers.
This bill eliminates the interim 2030 carbon reduction target established under House Bill 951 in 2021. That target, while well-meaning, has proven unachievable with current technology and would have required a rapid, expensive buildout of renewable infrastructure and transmission lines. These efforts come with high costs and lack the assurance that power would be available when our members need it most.
By shifting the focus to the long-term, achievable goal of net-zero carbon emissions by 2050, SB 266 supports the continued transition to cleaner energy — but in a way that protects our members from skyrocketing costs and potential reliability issues. According to the non-partisan Public Staff, this change is expected to save North Carolinian’s $13 billion, by avoiding unnecessary infrastructure investments and unreliable timelines.
At its core, SB 266 is about keeping power affordable and reliable for the people we serve. It allows room for the development of more cost-effective, dependable solutions, such as advanced nuclear energy, which can play a critical role in meeting future energy needs without placing an unfair financial burden on consumers.
We are grateful to the legislators who supported SB 266 and stood with electric cooperative members across the state. Thank you to Representative Timothy Reeder, MD (NC House), Representative Shelly Willingham (NC House) and Senator Norman Sanderson (NC Senate) for voting in favor of this important legislation. Your support helps protect our members from unnecessary costs and ensures the reliability of our power grid in the years to come.
Unfortunately, not all of our legislators in our service area chose to stand with cooperative members on this issue. Representative Gloristine Brown (NC House) and Senator Kandie Smith (NC Senate) voted against the override, despite the bill’s clear benefits to those they represent.
The successful override votes in both the House and Senate reflect a clear understanding among many legislators that our state must take a practical approach to energy policy — one that balances environmental goals with economic realities. For the 2.8 million residents served by electric cooperatives, this bill means continued investment in a stable grid, smarter long-term planning, and protection from unnecessary cost increases.
We thank the legislators who stood with cooperative members to support SB 266 and reaffirm their commitment to an energy future that works for all North Carolinians.
Winston Howell
Winston Howell