FOR IMMEDIATE RELEASE
Monday, July 28, 2025
Advocates Call for NCGA to Support Gov. Stein Veto of Senate Bill 266
The “Ratepayer Risks Act” could add $23 billion in fossil fuel costs
RALEIGH, N.C. – Ratepayers, social justice advocates, environmental groups, and others called on the N.C. General Assembly on Monday (July 28) to support Gov. Josh Stein’s veto of Senate Bill 266. The “Ratepayer Risks Act” would allow Duke Energy to saddle North Carolinians with higher bills to cover volatile fossil fuel and power plant construction costs, and renege on a promise to lower carbon emissions.
Lawmakers are convening this week to vote on whether to override Governor Stein’s veto of S266, issued July 2. Advocates were obliged to cancel an outdoor rally against S266, scheduled for Monday evening across from the Legislative Building, due to punishingly high temperatures – yet another vivid representation of the impact of climate change-driven weather extremes in North Carolina.
S266 was rushed through the legislature with minimal opportunities for the public and rank-and-file lawmakers to study its impact. Since then, multiple studies have found that it poses significant threats to ratepayers, the clean energy economy, and the environment. Yet another study was released Monday that flags the bill’s potential economic damage to Duke Energy’s residential ratepayers in North Carolina.
Event speakers prepared the following remarks:
Latonia Holbrooks, Charlotte ratepayer (NC House District 106)
I am a working mother who raised three children – and, like most North Carolinians, I have worked hard my entire life to provide for my family and pay my own way. As a member and steward of SEIU/Workers United Local 570, I am proud to advocate for working-class North Carolinians who also pay their own way.
I am shocked to hear that Duke Energy, a multibillion-dollar company and a monopoly utility, somehow cannot afford to pay its own way like myself and millions of ordinary North Carolina ratepayers – and that they expect us to cover their costs. I don’t know why they think we can afford to pay for their costs, because I can barely afford to pay the electric bill already.
CWIP, or “construction work in progress,” is Duke Energy putting their hands in our pockets because the money they make already isn’t enough for them. Senate Bill 266 doesn’t help anyone but Duke Energy and its shareholders. It will do the opposite of what it claims: It will raise our energy bills, it will put additional burdens on ordinary North Carolinians like me, and it will be terrible for our environment.
Our legislators at the North Carolina General Assembly must know that we are watching them now, and that we will remember who is responsible when our power bills go up to pay for Duke Energy’s greed. I am calling on our elected representatives to sustain Governor Stein’s veto of SB266, and do their jobs to protect their constituents. Duke Energy didn’t vote for them, we did.
Chris Herndon, Chapter Director, NC Sierra Club:
Governor Stein looked out for everyday North Carolinians when he vetoed this bill. Our elected state legislators need to do the same for their constituents now, especially with the mounting evidence of the harm Senate Bill 266 will do to all North Carolinians.
Mikaela Curry, East/South Manager, Sierra Club’s Beyond Coal Campaign:
Certain lawmakers were in such a rush to pass Duke’s nonsense that they didn’t wait to get all of the information necessary to make an informed decision. Now they must do what’s right for their constituents by sustaining a veto. As a survivor of Helene, with family and friends still recovering from Chantal, to me the irony that we can’t go outside safely to exercise our first amendment rights today [Monday] because of extreme heat elevates the importance of stopping this risky bill for our wallets and our future. The choice for lawmakers is now crystal clear: Side with average North Carolinians’ health and wealth, or side with the insatiable greed of Duke Energy and financially healthy tech companies.
Drew Ball, Southeast Campaigns Director, Natural Resources Defense Council:
Senate Bill 266 is a handout to Duke Energy that shifts billions in cost and significant risks squarely onto North Carolina families. By eliminating the interim carbon target, this bill exposes ratepayers to volatile methane gas prices and locks in decades of higher energy bills. Duke will profit while residents pay the price through rising bills, lost jobs, and missed investment. Instead of building affordable, reliable clean energy, SB266 pushes outdated, costly gas plants that deepen our dependence on a fragile fuel supply. This isn’t forward-looking energy policy, it’s a handout to a corporate monopoly disguised as reform, and North Carolinians will foot the bill.
Susannah Tuttle, Eco-Justice Connection Director, NC Council of Churches:
The North Carolina Council of Churches stands in firm and prayerful opposition to Senate Bill 266, recognizing the moral injustice of shifting financial burdens from powerful industrial interests onto everyday people. This bill places an unfair strain on residential customers – especially low-income households – who were excluded from the decision-making process and cannot afford rising utility costs. As people of faith, we are called to speak out against such inequity. Scripture reminds us in Proverbs 31:9 to ‘”speak up, judge righteously, defend the rights of the poor and needy.” In that spirit, we urge our elected leaders to prioritize justice, compassion, and the common good for all North Carolinians.
Alex Campbell, Public Policy Analyst, NC Budget & Tax Center:
Senate Bill 266 is a handout to a state-sanctioned monopoly that we all have to pay for, both with our pocketbooks and with climate disasters like Chantal and Helene. It will raise our energy bills by increasing our dependence on volatile natural gas prices, and it forces North Carolinians to pay for high-risk energy investments and the energy used by large businesses that routinely pollute our communities. South Carolina passed similar legislation, and taxpayers were left to pay $9 billion for a nuclear power plant that was never completed. North Carolinians reject Senate Bill 266, and we demand a transparent and equitable energy policy that protects our environment, serves the people, and is under our democratic control.
Perri Morgan, Carolina Advocates for Climate Health / PA-C, PhD, Professor, Duke University Health System
NOTE: The opinions expressed are Dr. Morgan’s own and do not reflect the stance of Duke University.
Changes in our weather are already impacting the health of our communities. We are seeing increased rates of heat-related illnesses, deaths from heat stroke, increases in mosquito-borne diseases, water contamination from intense storms, and psychological impacts from extreme weather events. In the face of climate change, it is irresponsible for Duke Energy to build more power plants that rely on fossil fuels, since this will only make these problems worse.
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