The Battle Intensifies: House committee passes takeover bill; Sen. Hartsell maneuvers for quick floor vote

You never know what’s going to happen when you’re at the legislature. And Wednesday was one of the most surreal days I’ve ever experienced.

One week after a N.C. House Committee voted against a government takeover of the Alcoa’s Yadkin Hydroelectric Project, that same committee resurrected the bill and voted 8-7 to support an unprecedented government takeover that could cost North Carolina taxpayers more than $500 million.

The House Water Resources & Infrastructure Committee narrowly approved Senate Bill 967 despite the anticipated cost and strong opposition from lakefront homeowners, property rights advocates and local officials in Stanly County.

Within hours, Sen. Fletcher Hartsell began maneuvering the bill for a quick passage in both chambers. He amended an existing bill (House Bill 1099) to include the essence of SB 967 that creates the Yadkin Trust. The bill passed the Senate and was sent by special delivery to the House for a floor vote that could occur as early as tomorrow, effectively bypassing the House Public Utilities and House Finance committees.

At the same time, SB 967 was referred to the House Public Utilities Commission for a hearing on Thursday at 10am. This essentially gives the bill's supporters two different cracks at passing the Yadkin Trust bill. If SB 967 is defeated in committee, the full House can still pass HB 1099.

“Sen. Hartsell pulled out all the stops today. It looks like he’s willing to do whatever it takes to take away the business we started here in 1915,” said Gene Ellis, a spokesman for Alcoa. “Frankly, we’re stunned that this important legislation is being rammed through the legislature. This is a complex issue with far-reaching implications and it deserves a fair hearing.”

Alcoa will continue fighting to keep the Yadkin Project, which has generated clean, renewable energy in North Carolina for nearly 100 years. It is important to remember that regardless of what happens in the North Carolina legislature, only the federal government can consider a takeover of the Yadkin Project, Ellis said.

The Federal Energy Regulatory Commission (FERC) has all of the information it needs to issue a new long-term license for the Yadkin Project. FERC staff has already dismissed the possibility of a government takeover and recommended issuing a new license to Alcoa.