There appears to be a light at the end of the tunnel — and, possibly, a cheaper light to burn.

Last week, two identical bills were introduced into the N.C. General Assembly, one bill in each chamber. Those bills, if they become law, would allow the 32 members of the North Carolina Eastern Municipal Power Agency, of which Washington and Belhaven are members, to shed debt that should result in lower power rates for their customers.

It’s about time these customers got a break.

Area legislators are supporting legislation that would allow Washington, Belhaven and other eastern North Carolina cities and towns to proceed with a sales agreement that should reduce electricity rates and spur economic development and job growth across the region.

The agreement would permit Duke Energy Progress to buy stakes in power-generation facilities now owned, in part, by NCEMPA. The Federal Energy Regulatory Commission has approved the agreement, however, approval by the General Assembly is needed for the agreement to take effect. The commission approved the agreement in December 2014.

For many years, NCEMPA customers have paid as much as 35 percent more than power customers in other parts of the state for electricity, a result of the power agency carrying nearly $2 billion in debt for around 33 years. In 2010, the movement to do something about that debt took on new life when several NCEMPA members explored withdrawing from NCEMPA. They faced several contractual and fiscal challenges if they did so.

In Washington’s case, about 70 percent of the city’s wholesale electric bill goes toward retiring the city’s share of that debt, according to city officials.

State Sen. Buck Newton, a Republican from Wilson and a primary sponsor of the Senate bill, hit the nail on the head when he said, “This initiative is a win-win – it will bring affordable energy to eastern North Carolina, make the region far more competitive for new jobs and ensure all customers of both entities ultimately pay less on their utility bills.”

The sooner the goals of the legislation and agreement are realized, the better for many power customers and economic development in eastern North Carolina.