WV HB5492

Authorizes West Virginia's Division of Economic Development to enter advance purchase agreements with regulated electric utilities for substation transformers (150-200 MVA capacity) to reduce delays in attracting large-scale industrial and commercial projects

State may pay ordering costs and down payments to secure manufacturing slots, while the utility owns the transformer and the state retains authority to assign it to qualifying economic development projects

If no project is identified at delivery, the state may fund the remaining balance and the transformer stays in utility inventory for future assignment or system needs

State funds may be recovered through utility repayment when transformers enter service, project sponsor reimbursement, utility rate recovery approved by the Public Service Commission, or other authorized mechanisms

Division of Economic Development may forgive repayment obligations based on economic benefits including jobs created, wages, capital investment, and tax revenue generated by the project