SB 687
Relating to authority of PSC
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill changes the authority of the Public Service Commission (PSC) in West Virginia. It requires the PSC to forward rate adjustment recommendations to the Legislature and mandates that any rate adjustments for electric utilities must be specifically approved by the Legislature. The bill also directs the PSC to study and report on issues related to natural gas supply and potential reorganization plans, aiming to improve regulatory oversight and protect consumer interests.
Key provisions
- Requires the PSC to forward rate adjustment recommendations to the Legislature.
- Mandates that electric utility rate adjustments require legislative approval.
- Directs the PSC to study and report on natural gas supply issues, including capped wells and out-of-state gas purchases.
- Calls for the PSC to develop and submit a plan for internal reorganization to the Legislature.
- Establishes a requirement for water and sewer utilities to maintain a working capital reserve.
- Limits the PSC’s jurisdiction over electric utilities to rate adjustment hearings and recommendations.
- Specifies that the PSC’s role in regulating water and sewer utilities is limited to local governing bodies.
- Requires the PSC to cooperate with the Joint Committee on Government and Finance in regulatory reviews.
Who is affected
- Public Service Commission (PSC)
- Electric Utilities
- Natural Gas Utilities
- West Virginia Residents (consumers of utilities)
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