SB 720

Adds terms advertising, Commission (NC Utilities Commission) , lobbying, political influence activities, public official, public utility, rate base, regulatory matters, and test-year method to GS 62-133.8. Makes technical changes. Expands the fees that must be just and reasonable under GS 62-131 to include tolls, charges, and schedules made by public utilities. Specifies that those fees will only be deemed reasonable if all of the three listed criteria are met, including (1) the utility demonstrates that the aggregate rates provide revenues that are no greater than the actual costs incurred in serving NC customers, as described; (2) the utility demonstrates that no part of its rates, tolls, or charges include recovery of the 13 described prohibited costs; and (3) rates must equitably classify customer groups and ensure fairness across all categories, including residential, commercial, and industrial customers. Authorizes the Commission to apply a test-year method of estimating revenue needs and to approve special rates or contracts for individual customers or customer classes if it determines that such measures are in the public interest, do not unreasonably burden other customers, and align with State emissions reductions goals.