Cap a utility provider’s rates increases at no more than 5% per year

HB 4385 would cap annual rate increases by West Virginia utility companies (like electricity and gas providers) at a maximum of 5% per year. The bill requires all proposed rate hikes by public utilities to stay within this 5% limit, effective July 1, 2026. This directly affects utility companies and their customers by limiting how much rates can rise annually. The provision applies to all future rate increase requests, replacing any higher proposed increases with the 5% maximum.