WV SB981

Imposes a one-year moratorium on Public Service Commission approval of electric, natural gas, and water utility rate increases from July 1, 2026 through June 30, 2027

Defines "rate increase" broadly to include base rates, riders, surcharges, trackers, and any mechanisms resulting in higher customer charges, whether temporary or permanent

Exempts rate decreases, customer refunds, and rates implemented solely to comply with federal mandates where non-compliance would result in immediate penalties

Requires the Public Service Commission to conduct a comprehensive study examining utility cost structures, ratemaking practices, executive compensation, fuel costs, infrastructure investments, and customer impact on low-income and fixed-income residents

Mandates a report to the Governor, Senate President, and Speaker of the House by December 1, 2026, with specific recommendations for reducing utility rates and draft legislation to implement changes