West Virginia HB5492 establishes guidelines for advance purchase agreements for electric substation transformers to accelerate economic development.
West Virginia HB5492 aims to facilitate economic development projects by allowing the state to pre-purchase electric substation transformers. The bill authorizes the Department of Commerce, Division of Economic Development, to enter into advance purchase agreements with regulated electric utilities. These agreements cover the ordering cost and required down payment for eligible transformers, which must meet specific specifications.
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