This bill amends the Code of West Virginia to redefine the authority of the Public Service Commission (PSC) concerning public electric utilities. Specifically, it limits the PSC's jurisdiction to holding hearings on rate adjustment requests from these utilities and requires that any adjustments to electric utility rates must be approved by the Legislature through a specific bill. The bill also introduces new provisions that mandate electric utilities operating coal-fired generation facilities to maintain a minimum average generation rate of 75% of peak capacity. If a utility fails to meet this threshold, it will face a corresponding reduction in its guaranteed profit margin for the following year.

Additionally, the bill emphasizes the need for the PSC to issue recommendations to the Legislature regarding rate adjustments, thereby increasing legislative oversight of electric utility rates. The changes aim to ensure that rate adjustments are more closely monitored and controlled by the Legislature, reflecting a shift towards greater accountability in the regulation of public electric utilities in West Virginia.

Statutes affected:
Introduced Version: 24-1-1