SB 931
Relating to utility affordability and economic competitiveness
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- Passed Senate
- Passed House of Delegates
- 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 implementing phases for assessing needs, enacting reforms, and overseeing implementation. The bill seeks to make utility services more affordable, reliable, and competitive while prioritizing clean energy sources and ensuring supply chain security.
Key provisions
- Establishes a three-year moratorium on utility rate increases.
- Defines ‘affordable’ utility costs based on cost-effectiveness, household income impact, and comparisons with other states.
- Sets affordability goals for electricity and water costs by 2030, including reducing combined household utility expenditures.
- Requires utilities to prioritize fuel sources produced within West Virginia (with exceptions for generation technologies).
- Prohibits the use of critical materials sourced from foreign adversary nations.
- Creates a coordinating authority within the Department of Commerce to oversee statewide efforts.
- Designates utility affordability and competitiveness as core budgetary priorities.
- Mandates a comprehensive utility cost assessment within one year of the bill’s enactment.
Who is affected
- West Virginia residents and businesses
- Electric utilities
- Water utilities
- The Public Service Commission of West Virginia
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