This bill proposes amendments to the Code of West Virginia, specifically targeting public utility rate increases. It recommends a one-year moratorium on the approval of any rate increases for electric, natural gas, water, and wastewater utilities, effective from July 1, 2026, to June 30, 2027. The bill articulates legislative findings that highlight the significant rise in utility rates, which disproportionately affects low-income households and small businesses in West Virginia. It emphasizes the need for a comprehensive study to evaluate existing ratemaking practices and explore alternative methods to reduce utility rates.

Additionally, the bill mandates the Public Service Commission to conduct a thorough study on various factors influencing utility rates, including cost structures, regulatory constraints, and customer impacts. The findings from this study are to be reported by February 1, 2027, to key state officials, along with recommendations for regulatory or statutory changes aimed at reducing utility rates. The report will also include cost-saving measures and an assessment of the anticipated rate impact of any proposed changes, ensuring transparency by making the report publicly available on the commission's website.

Statutes affected:
Introduced Version: 24-1-2, 24-2B-1, 24-2B-2, 24-2B-3, 24-2B-4
Committee Substitute: 24-1-2, 24-2B-1, 24-2B-2, 24-2B-3, 24-2B-4