This bill amends the Code of West Virginia to redefine the authority of the Public Service Commission (PSC) concerning electric utilities. It establishes that the PSC's jurisdiction is limited to hearing requests for rate adjustments from public electric utilities and making recommendations to the Legislature regarding these requests. Furthermore, the bill mandates that any adjustments to rates for public electric utilities must be approved through a specific bill passed by the Legislature.

Additionally, the bill includes provisions that emphasize the need for the PSC to ensure fair regulation of public utilities while also addressing the rising costs of natural gas and electricity. It highlights the importance of maintaining a working capital reserve for water and sewer utilities that are political subdivisions of the state, ensuring they can provide continuous service. The changes aim to enhance legislative oversight and accountability in the regulation of electric utility rates, thereby protecting consumer interests.

Statutes affected:
Introduced Version: 24-1-1