This bill amends the West Virginia Code to enhance the transparency and ethical standards of the Public Service Commission (PSC). It introduces new requirements for financial disclosures by PSC members, mandating that these statements be published online. The bill clarifies the PSC's responsibility to act in the public interest while regulating electric utilities, emphasizing factors such as affordability, reliability, and environmental protection. It also revises the ethical criteria for commission membership, ensuring adherence to the code of judicial ethics, and repeals outdated provisions to streamline operations.

In addition to these reforms, the bill requires the PSC to conduct inquiries into emerging utility management concepts and report findings to the Governor and Legislature biennially. It aims to improve public understanding of utility regulation through annual reports to the Joint Committee on Government and Finance, detailing the commission's activities and policy decisions. The legislation also addresses issues related to natural gas rates, discouraging certain purchasing practices that lead to price increases, and limits the PSC's jurisdiction over water and sewer utilities that are political subdivisions of the state, while establishing a requirement for these utilities to maintain a working capital reserve.

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