As NC grows, we can secure our energy future by investing smartly and safely | Opinion
Beginning in the early 1960’s, utilities in the Carolinas took forward-leaning steps to plan and deploy nuclear power plants, and today those facilities represent around 50% of the electricity generated in the two-state area. These investments, which have provided decades of low-cost power, are a key part of the engine that has fueled the economic growth and prosperity of North and South Carolina.
In that spirit, as North Carolina continues to grow, the need for reliable energy will be increasingly important to the future our children will inherit, and we need to be making the same long-range choices as our predecessors. Additionally, with the rapid growth in population, as well as the deployment of data centers and advanced manufacturing facilities that will require reliable, resilient and cost-effective power, the need for thoughtful energy investment is more important than ever.
North Carolina’s Senate Bill 261, recently rolled into to Senate Bill 266, is a legislative initiative that addresses this need and will foster our regional economic growth by lowering the cost of resilient, always-on power plants for utility customers. The bill not only promises significant benefits for consumers but also ensures robust safeguards to protect their interests.
The legislation would modernize policies to allow utilities to collect financing costs for nuclear plants and other facilities while they are being built, helping to reduce interest costs over the lifetime of those projects, which can take five years or more to construct. By paying the construction cost along the way, it reduces the amount of interest that is built up during construction time and minimizes the total cost for customers by avoiding sudden price spikes when new resources are brought online.
Critics who point to past nuclear projects in other states fail to recognize how nuclear technology has advanced, the strong foundation of regulatory oversight which sets North Carolina apart and the careful approach the state’s utilities and regulators have taken to evaluating nuclear technologies prior to deployment.
One of the primary advantages of the bill is its potential to drive investment in modern infrastructure like nuclear energy. North Carolinians are fortunate to have assets like the McGuire Nuclear Station to provide reliable power to our homes and businesses, and over its 40+ year lifetime, this facility has provided some of the lowest cost energy to consumers in our state. Senate Bill 266 would allow utilities to invest in energy sources like nuclear power plants in a way that minimizes the cost to customers and avoids sudden price spikes when they are brought online. In the long term, nuclear power is among the least expensive forms of power in the U.S. and is fully carbon-free — also a key attribute.
Moreover, S.B. 266 includes stringent regulatory safeguards designed to protect customers and maintains opportunities for public input as utilities plan for the future. The bill mandates strict oversight by the North Carolina Utilities Commission, ensuring that any rate adjustments are justified, transparent and result in savings for customers when compared to other options. This legislation incorporates lessons learned from projects in other states by creating higher standards of regulatory review and a heavier consequence for wasteful spending.
Senate Bill 266 represents a thoughtful and forward-looking approach to utility regulation. As a former Commissioner for the U.S. Nuclear Regulatory Commission, I can confidently say these policies balance the need for modernization and innovation with the need to protect consumers. By supporting this bill, our legislators can help pave the way for an abundant and reliable long-term energy future for our communities.
This story was originally published June 5, 2025 at 6:00 AM with the headline "As NC grows, we can secure our energy future by investing smartly and safely | Opinion."