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Senate Energy Industry and Mining Committee advances committee substitute for House Bill 4012 limiting PSC rate approvals
Summary
The committee adopted a strike-and-insert amendment and voted to report the engrossed committee substitute for House Bill 4012 to the full Senate with a recommendation that it pass as amended. The measure would require the Public Service Commission to justify rate increases and tighten approval standards for high-voltage transmission certificates.
The West Virginia Senate Energy Industry and Mining Committee adopted a strike-and-insert amendment and voted to report the engrossed committee substitute for House Bill 4012 to the full Senate with the recommendation that it pass as amended, the committee chair said.
Committee counsel summarized the measure, saying it would change how the Public Service Commission (PSC) reviews proposed rate increases. "This bill prohibits the public service commission from approving any increase in rates, charges, or costs paid by West Virginia retail rate payers unless it finds based upon a preponderance of the evidence that the costs assigned to the rate payers are proportionate to or less than the benefits the rate payers will likely receive," the counsel said during the committee meeting. Counsel also said that if the commission…
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