This bill proposes amendments to the Code of West Virginia, specifically targeting public utility rate increases. It establishes a one-year moratorium on the approval of any rate increases for electric, natural gas, and water utilities, effective from July 1, 2026, to June 30, 2027. During this period, the Public Service Commission and political subdivisions are still permitted to conduct hearings, investigations, and audits, as well as approve rate decreases or refunds. The bill also outlines specific exceptions to the moratorium, such as rates implemented to comply with federal mandates and any rate decreases.

Additionally, the bill mandates a comprehensive study by the Public Service Commission to explore methods for reducing utility rates. This study will examine various factors, including utility cost structures, ratemaking policies, and customer impacts, and will culminate in a report due by December 1, 2026. The report will provide findings, conclusions, and recommendations for regulatory or statutory changes aimed at reducing utility rates, along with an assessment of the anticipated impacts of these measures. The bill aims to address the rising utility costs that disproportionately affect households and small businesses in West Virginia.

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