HB 4195
Placing a two year a cap on electrical utility rates
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to limit electrical utility rates in West Virginia for a period of two years. It establishes a cap on rates set by the Public Service Commission, acknowledging that electricity costs have significantly increased in the state, disproportionately impacting lower-income residents and hindering economic growth. The cap will apply to generation and distribution services, with adjustments allowed for fuel and purchased power costs, ensuring continued service availability at the capped rates until July 1, 2027.
Key provisions
- Establishes a two-year rate cap on electrical utility rates.
- The Public Service Commission will set the capped rates.
- Capped rates will include generation and distribution services.
- Adjustments to the capped rates are permitted to cover fuel and purchased power costs.
- Incumbent utilities must continue to provide service at the capped rates until the cap expires.
- Rates will remain at the capped level until changed by the Commission.
- The bill cites significant increases in electricity rates between 2005 and 2022.
- The cap is intended to alleviate hardship for West Virginia residents, particularly those with low incomes.
Who is affected
- West Virginia residents
- Electric utility customers
- Electric utility companies
- Low-income residents
- Businesses in West Virginia
Notable changes
- A temporary rate cap is being implemented on electrical utility rates.
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