HB 4894
Relating to utility affordability and economic competitiveness
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill, the West Virginia Utility Affordability and Economic Competitiveness Act, aims to address high utility costs in West Virginia by establishing a three-year moratorium on rate increases and creating a phased approach to restore affordability and reliability. It defines key terms like ‘affordable’ and ‘clean’ energy, sets goals for reducing utility burdens, and requires a statewide assessment of utility costs. The bill also prioritizes energy sourced within West Virginia and prohibits the use of critical materials from foreign adversary nations.
Key provisions
- Establishes a three-year moratorium on utility rate increases.
- Defines ‘affordable’ and ‘clean’ energy with specific criteria.
- Sets affordability goals for electricity and water costs by 2030.
- Requires a comprehensive utility cost assessment within one year.
- Mandates statutory and regulatory reforms to achieve affordability and competitiveness goals.
- Designates the Department of Commerce as the coordinating authority for statewide efforts.
- Declares utility affordability and competitiveness as core budgetary priorities.
- Prioritizes energy sources produced within West Virginia and prohibits materials from foreign adversary nations.
Who is affected
- West Virginia residents and businesses
- Electric utilities
- Water utilities
- The Public Service Commission of West Virginia
- The State of West Virginia
Notable changes
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