West Virginia HB4824 mandates utilities to allocate 5% of any rate increase to an infrastructure improvement fund for physical utility infrastructure.

West Virginia HB4824 establishes a requirement for public and private utility systems to set aside 5% of any granted rate increase into an "infrastructure improvement" fund. This fund is intended for physical utility infrastructure repairs and improvements, excluding routine maintenance. The fund cannot be used for new utility infrastructure and cannot be passed on to consumers through fees or future rate increases. The bill aims to ensure that infrastructure improvements are funded through rate increases without burdening consumers.

West Virginia HB4824 mandates utilities to allocate 5% of any rate increase to an infrastructure improvement fund for physical utility infrastructure.

West Virginia HB4824 establishes a requirement for public and private utility systems to set aside 5% of any granted rate increase into an "infrastructure improvement" fund. This fund is intended for physical utility infrastructure repairs and improvements, excluding routine maintenance. The fund cannot be used for new utility infrastructure and cannot be passed on to consumers through fees or future rate increases. The bill aims to ensure that infrastructure improvements are funded through rate increases without burdening consumers.