This bill proposes to amend the Code of West Virginia by adding a new section, 24-2-4i, which establishes a cap on proposed rate increases by public utility companies. Specifically, it stipulates that any proposed rate increases shall not exceed 5% per year, effective July 1, 2026.

The intent of this legislation is to provide financial protection to consumers by limiting the extent to which public utilities can raise their rates annually. This measure aims to ensure that rate increases remain manageable for residents and businesses in West Virginia.

Statutes affected:
Introduced Version: 24-2-4i