The proposed bill, titled the "Reliable and Affordable Electricity Act," aims to amend the Code of West Virginia by introducing new articles that establish a framework for ensuring the reliability and affordability of electric utility services. The bill outlines legislative findings that emphasize the importance of reliable electric 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 mandates that the Public Service Commission consider bulk-power system reliability when determining the fairness and reasonableness of electric utility rates.

Key provisions of the bill include the requirement for electric utilities to provide detailed evaluations of their generation and transmission assets in rate adjustment applications, ensuring that these assets can reliably meet demand during peak periods. The bill also establishes a burden of proof for applicants to demonstrate that their proposed actions will not negatively impact their capacity contributions to bulk-power system reliability. Additionally, the Public Service 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 protect ratepayers from excessive costs related to underperforming utility assets during critical demand periods.

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