The proposed bill, known as the "West Virginia First Energy Act," aims to amend the Code of West Virginia by establishing a framework to enhance the reliability and affordability of electric generation in the state. It includes provisions that require coal-fired electric generating facilities to maintain a minimum utilization rate of 69% and mandates a 30-day on-site coal inventory for these facilities. Additionally, it stipulates that natural gas facilities must have firm supply contracts to ensure reliability during peak demand. The bill also seeks to prevent the premature retirement of coal and natural gas facilities without prior approval from the Public Service Commission, ensuring that any such changes do not negatively impact retail rates or grid reliability.

Furthermore, the bill restricts utilities from recovering costs associated with new intermittent generation resources, such as wind and solar, unless they can demonstrate that these investments do not increase retail rates or reliance on wholesale markets. Rate increases for utilities will be contingent upon compliance with the established utilization and fuel supply requirements. The legislation also emphasizes the importance of coordinating with the Electric Grid Stabilization and Security Fund and mandates annual reporting on the use of West Virginia coal and natural gas. The bill is set to take effect on July 1, 2026, and aims to preserve jobs and investment in the state's coal and natural gas industries while ensuring a stable energy supply.

Statutes affected:
Introduced Version: 24-9-1, 24-9-2, 24-9-3, 24-9-4, 24-9-5, 24-9-6, 24-9-7, 24-9-8, 24-9-9, 24-9-10