WV SB505

Requires the West Virginia Public Service Commission to evaluate bulk-power system reliability, energy capacity, on-demand dispatch ability, useful life, intermittent operational nature, and overall costs when determining whether electric utility rate adjustments are fair, just, and reasonable

Mandates electric utilities seeking rate adjustments provide detailed statements assessing how proposed new generation units or retirements of existing units will impact their capacity contributions to bulk-power system reliability during peak demand periods

Establishes a "clear and convincing evidence" legal standard requiring utilities to prove that proposed generation units and transmission assets fully meet reliability requirements before cost recovery through rates is approved

Adjusts the allowed rate of return for new generation assets based on their capacity value (effective load carrying capacity), reducing returns for intermittent resources like wind and solar that contribute less reliable capacity compared to their nameplate ratings

Authorizes the Commission to deny rate recovery for costs and expenses related to generation units or transmission assets that fail to meet reliability requirements, shifting those costs to utility shareholders rather than ratepayers