The proposed bill, titled the "Reliable and Affordable Electricity Act," aims to amend the Code of West Virginia by introducing new provisions that focus on ensuring energy reliability and affordability for its citizens. The bill outlines legislative findings that emphasize the importance of reliable electric utility service for various sectors, including families, schools, and businesses. It highlights the challenges posed by the transition from fossil fuel-based power generation to carbon-neutral alternatives, stressing the need for electric utilities to maintain a reliable energy capacity. The bill establishes a legal standard for determining fair, just, and reasonable rates, requiring the Public Service Commission to consider bulk-power system reliability and other factors when approving costs associated with electric generation and transmission assets.

Additionally, the bill mandates that applicants for adjustments in electric utility rates provide comprehensive evaluations of their proposed electric generation and transmission units, including their contributions to bulk-power system reliability during peak demand. It places the burden of proof on applicants to demonstrate that their proposed actions will not negatively impact their ability to meet reliability standards. The commission is directed to include specific findings in its orders approving rate adjustments, ensuring transparency regarding the costs and expenses associated with electric generation and transmission assets. Overall, the bill seeks to enhance the reliability of electric service while maintaining affordability for West Virginia residents.

Statutes affected:
Introduced Version: 24-2J-1, 24-2J-2, 24-2J-3, 24-2J-4, 24-2J-5
Committee Substitute: 24-2J-1, 24-2J-2, 24-2J-3, 24-2J-4, 24-2J-5