Relating to utility rate increases

HB 4824 requires utilities (both public and private) in West Virginia that receive rate increases from the West Virginia Public Service Commission to set aside 5% of the new rate increase (from customer bills) into a dedicated infrastructure fund. This fund must be used exclusively for physical infrastructure repairs and improvements, such as water lines, electrical transmission lines, and treatment facilities, but cannot cover routine maintenance. Utilities are prohibited from passing the cost of this fund to consumers through future rate hikes or fees. The bill ensures that a portion of rate increases directly supports infrastructure upgrades without increasing customer bills.