Placing a two year a cap on electrical utility rates

HB 4195 would temporarily cap electric utility rates in West Virginia at current levels for two years, through July 1, 2027. This directly affects all residential and business customers of electric utilities across the state, freezing their rates except for limited adjustments tied to fuel and purchased power costs. The bill aims to provide immediate relief from rapidly rising rates - highlighted as having more than doubled since 2005 - particularly for low-income households and elderly residents relying on fixed incomes. After the cap expires, utilities would return to standard rate-setting processes under existing law.