The proposed bill aims to establish the Stable Energy Rates Protection Act in West Virginia by adding a new article to the state code. It mandates that the West Virginia Public Service Commission (PSC) amend its rules within six months of the bill's passage to prohibit the inclusion of costs related to the construction, operation, maintenance, or decommissioning of wind and solar energy facilities in any rate increases. This prohibition will not apply to existing contracts executed before the act's effective date, but future rate increases cannot be based on new commitments to wind or solar projects under those contracts. Additionally, the PSC is required to review all pending rate cases and adjust current or proposed rate increases to comply with this new regulation.

Furthermore, the bill requires the PSC to provide an annual report to the Legislature assessing the impact of this prohibition on energy rates and reliability in West Virginia, along with recommendations for further actions to ensure energy affordability and reliability. The act includes a severability clause, ensuring that if any provision is found invalid, the remaining provisions will still be effective. The bill is set to take effect upon its passage.

Statutes affected:
Introduced Version: 24-9-1, 24-9-2, 24-9-3, 24-9-4