SB 776
Increasing oversight and regulatory 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 aims to increase the Public Service Commission’s (PSC) oversight and regulatory authority over Public Service Districts (PSDs) in West Virginia. It mandates enhanced operational guidelines, biennial audits, continuing education requirements, regular inspections, and financial transparency reporting for PSDs. The PSC will also be granted expanded powers, including the ability to study and modify PSD plans, petition for board member removal, and create a division to provide technical assistance to PSDs, and the ability to impose fines and corrective actions for non-compliance.
Key provisions
- Requires PSDs to adopt and implement PSC-approved operational guidelines.
- Mandates biennial audits and annual financial transparency reports for PSDs.
- Requires board members and senior management to complete continuing education annually.
- Authorizes the PSC to conduct scheduled and unscheduled inspections of PSDs.
- Requires PSDs to submit annual reports detailing revenue, expenditures, and infrastructure investments.
- Expands the PSC’s jurisdiction to include the ability to study and modify PSD plans.
- Grants the PSC the power to petition for removal of PSD board members.
- Creates a division within the PSC to provide assistance to PSDs.
Who is affected
- Public Service Districts (PSDs)
- West Virginia Residents (indirectly, through utility services)
- The Public Service Commission
- State Government
- Energy Industry
Notable changes
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