This bill seeks to enhance the transparency and ethical standards of the West Virginia Public Service Commission (PSC) by implementing several key changes. It requires PSC commissioners to publish their financial statements online and mandates a $100,000 bond upon appointment. The bill emphasizes the importance of affordability, reliability, and environmental protection in determining the public interest, while also discouraging certain purchasing practices by natural gas utilities that have led to increased prices. Additionally, it limits the PSC's jurisdiction over water and sewer utilities that are political subdivisions of the state.

The legislation also modifies the qualifications for PSC commissioners to ensure that individuals with recent ties to regulated entities cannot serve, promoting impartiality within the commission. It streamlines the regulatory framework by repealing outdated provisions and introduces new language that requires the PSC to consider a comprehensive energy strategy, including the modernization of the electric grid. Furthermore, the bill establishes that the PSC's rules and regulations will not undergo the same legislative review procedures as before, allowing for more efficient governance while aligning the commission's operations with the highest ethical standards, including adherence to the State Code of Judicial Ethics.

Statutes affected:
Introduced Version: 6B-2-6, 24-1-1, 24-1-3, 24-1-7, 24-1-1a, 24-1-1b