Clarifies when the Public Service Commission can approve utility rate increases.

This bill amends the West Virginia Code to clarify when the Public Service Commission can approve utility rate increases. It specifies that the commission cannot approve rate increases unless it finds the costs assigned to ratepayers are reasonably proportionate to the benefits expected. The bill also mandates a biennial review of rate increases and allows the commission to audit and investigate management practices and policies to ensure efficiency and sound management. The commission can exclude certain costs from rates if it determines the requirements are no longer satisfied.

Clarifies when the Public Service Commission can approve utility rate increases.

This bill amends the West Virginia Code to clarify when the Public Service Commission can approve utility rate increases. It specifies that the commission cannot approve rate increases unless it finds the costs assigned to ratepayers are reasonably proportionate to the benefits expected. The bill also mandates a biennial review of rate increases and allows the commission to audit and investigate management practices and policies to ensure efficiency and sound management. The commission can exclude certain costs from rates if it determines the requirements are no longer satisfied.