Yadkin River Trust Bill Up For Vote In N.C. House Committee
Hearing On Legislation Establishing A State Trust On Behalf Of North Carolina’s Citizens Scheduled For July 28
[USPRwire, Thu Aug 27 2009] The Stanly County Board of Commissioners (www.co.stanly.nc.us) is urging members of the N.C. House of Representatives to support an upcoming vote on Senate Bill 967 (Creation of Yadkin River Trust), legislation that would establish a Trust to develop, sell and distribute hydroelectric power generated by the Yadkin Hydroelectric Project for the benefit of the people of North Carolina, as well as maintain recreational facilities and ensure equitable distribution of water for public purposes at all times. The legislation supports Governor Perdue’s action to oppose Alcoa Power Generating Inc. (“Alcoa”), which has applied for a 50-year federal license to monopolize control of and exploit the water and hydroelectric power generated by the Project, which includes four dams and powerhouses along a 38-mile stretch of the Yadkin River at High Rock, Tuckertown, Narrows and Falls Reservoirs in Davie, Davidson, Rowan, Montgomery and Stanly counties. The bill is scheduled for a hearing in the House Water Resources and Infrastructure Committee on Tuesday, July 28, at 2 p.m. in Room 1228 of the Legislative Building.
The Trust will honor aspects of the Relicensing Settlement Agreement (RSA) negotiated by local government and environmental groups in 2008, including water for the City of Albemarle, a comprehensive drought management plan (the “Low Inflow Protocol”), water quality improvements for the Yadkin, and new and expanded public recreation facilities. However, the Trust will provide more benefits to North Carolina state residents than Alcoa, including:
• An assurance that the water of the Yadkin, which the public owns, will be valued for the benefit of all North Carolinians rather than exploited for profit.
• Priority consideration to local needs, with the intent of restoring and improving environmental, public health, economic and job considerations.
• Power generated from the Project will be used for the benefit of the citizens of North Carolina, not a multinational company answerable to no one in North Carolina.
The bill also establishes a Board of Directors of seven members appointed by the Governor and confirmed by the General Assembly to oversee the Yadkin River Trust and carry out its goals and activities.
Alcoa, the Project’s current license holder, has applied through the Federal Energy Regulatory Commission (FERC) for another 50-year license to continue its monopoly where it earns tens of millions of dollars annually by using the Yadkin’s water to power its turbines and sell hydropower on the electrical grid mostly out of state, with no regulation by the N.C. Utilities Commission. Its application is on hold due to an injunction preventing it from receiving a 401 Water Quality Certification from the State of North Carolina.
North Carolina Gov. Bev Perdue has intervened at FERC on behalf of the State of North Carolina. Gov. Perdue intervened in the proceeding to curtail Alcoa’s private control of this segment of the Yadkin River and to rededicate this valuable public resource to a significant public use.
If both the Yadkin River Trust is approved and the FERC agrees to recommend to Congress recapture of the Project’s license for subsequent transfer to the State of North Carolina, Alcoa would be entitled to be reimbursed for its “net investment,” not to exceed “fair value” plus any “severance damages” if the federal government requires the license to be returned. (The federal government alone has right to recapture the Project upon payment of net investment and severance damages to Alcoa. Congress can simultaneously provide in its law that the FERC be required to issue a license to the State of North Carolina, subject to payment of such net investment to the U.S. government.) The “net investment” for the Yadkin Project is $24.16 million, according to Alcoa’s license application filed with the FERC in April 2006. That means that Alcoa would be entitled to $24.16 million plus severance damages, which refer to only that portion of the project facilities that are rendered useless by the recapture. As the Project generates tens of millions of profits annually for Alcoa, the Trust would not cost taxpayers money.
The N.C. Senate overwhelmingly approved Senate Bill 967 by a vote of 44-4 on May 6. Its bipartisan sponsors are state Senators Fletcher L. Hartsell, Jr. (R-Cabarrus), Phil Berger (R-Rockingham), Stan Bingham (R-Davidson), Dan Clodfelter (D-Mecklenburg), William Purcell (D-Scotland, Stanly), Tony Rand (D-Cumberland), and Jerry Tillman (R-Montgomery, Randolph). A companion bill, House Bill 1455, is sponsored by state Representatives Harold J. Brubaker (R-Randolph), Justin Burr (R-Stanly, Union, Montgomery), Lorene Coates (D-Rowan) and Melanie Wade Goodwin (D-Montgomery, Richmond).
Related Links:
www.co.stanly.nc.us
http://www.ncleg.net/gascripts/BillLookUp/BillLookUp.pl?Session=2009&BillID=H1455
http://www.ncleg.net/gascripts/BillLookUp/BillLookUp.pl?Session=2009&BillID=S967
http://jackbetts.blogspot.com/2009/07/speaker-relents-alcoa-bill-up-in.html
Quotes:
“This bill’s backers, which include the Stanly County Board of Commissioners, are grateful that the House Water Resources Committee will vote on this legislation before the General Assembly adjourns this session,” said Stanly County Commissioner Lindsey Dunevant. “We ask legislators to consider thoroughly the benefits of recapturing our water rights for the Yadkin and how this opportunity can benefit all North Carolinians economically and environmentally in the long run.”
About This Effort:
In 1958, Alcoa, the world’s leading producer of primary aluminum, secured a federal hydroelectric license for the Yadkin Project on the Yadkin River in Stanly, Davidson, Montgomery and Rowan Counties in the Central Piedmont. In return, Alcoa promised aluminum manufacturing jobs for Stanly County for years to come. Alcoa has now essentially disappeared as a major employer in the region and shut down its manufacturing plants, but it wants to continue reaping the benefits of the Yadkin River after its license expires in April of this year. In addition, Alcoa discharged hazardous pollutants into North Carolina air and waterways for decades while harvesting immense profits from the Yadkin River, but has yet to finish cleaning up that contamination. It has filed an application with the Federal Energy Regulatory Commission (FERC) to obtain another 50-year license. If Alcoa is successful, one of North Carolina’s most valuable water resources will be used to maximize Alcoa’s profits, instead of being used to benefit the people of North Carolina, who themselves are in dire need of affordable electricity, local economic development, and clean, adequate drinking water.
Keywords:
MMI Associates, Inc., Public Relations, Stanly County Board of Commissioners, Water Rights, Gov. Bev Perdue, Yadkin River, Yadkin Hydroelectric Project, Alcoa, Alcoa Power Generating,
APGI, Department of Environmental and Natural Resources, Lindsey Dunevant, Yadkin River Trust, Chinalco, Rep. Larry Kissell, Rep. Harold J. Brubaker, Rep. Justin Burr, Rep. Lorene Coates, Rep. Melanie Wade Goodwin, Sen. Fletcher L. Hartsell, Jr., Sen. Phil Berger, Sen. Stan Bingham, Sen. Dan Clodfelter, Sen. William Purcell, Sen. Tony Rand, Sen. Jerry Tillman, Speaker Joe Hackney, Rep. Cullie Tarleton
