HB2665: Electric utilities; rate caps, Commission on Electric Utility Regulation, utility rate reviews.

Legislative Summary

Electric utilities; rate caps; Commission on Electric Utility Regulation; utility rate reviews. Requires the State Corporation Commission to establish capped rates for Appalachian Power. The bill requires the capped rates to be the rates in effect for each Phase I electric utility as of July 1, 2025. The bill authorizes the Commission to adjust such capped rates in connection with the electric utility's recovery of fuel and purchased power costs. The bill's capped rates expire on July 1, 2027. The bill requires the Commission on Electric Utility Regulation (the Commission) to review and make recommendations regarding certain petitions filed by Appalachian Power with the State Corporation Commission. For each such review, the bill requires the Commission to convene a subcommittee that includes one nonlegislative citizen member from each planning district commission within the Phase I Utility's service territory, each of whom is appointed by the relevant planning district commission. The Commission shall submit its recommendation to the State Corporation Commission no later than 90 days following the date such petition is filed. The bill prohibits the Commission from adopting any recommendation if a majority of the members of the subcommittee vote against the recommendation. The bill requires the State Corporation Commission to consider the recommendations of the Commission.