The proposed bill, titled the "Reliable and Affordable Electricity Act," aims to amend the Code of West Virginia by introducing new articles 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 reliable energy capacity. The bill also establishes a legal standard for determining fair, just, and reasonable rates, mandating that the Public Service Commission consider bulk-power system reliability when approving costs and expenses related to electric generation and transmission assets.

Key provisions of the bill include definitions of critical terms such as "bulk-power system," "electric generation unit," and "capacity value," as well as requirements for applicants seeking adjustments in electric utility rates. The bill mandates that applicants provide detailed evaluations of their proposed electric generation and transmission assets, demonstrating their ability to meet capacity contributions to bulk-power system reliability during peak demand. Additionally, the bill places the burden of proof on applicants to establish that their proposed actions will not negatively impact reliability. 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.

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