Imposing one-year moratorium on approval of certain public utility rate increases

SB 535 imposes a one-year moratorium (July 1, 2026 - June 30, 2027) on the Public Service Commission of West Virginia approving new electric, natural gas, and water utility rate increases for residential, commercial, and industrial customers. The moratorium does not apply to rate decreases, refunds, or rates required by federal mandates with written commission justification. The bill also mandates a comprehensive study examining utility cost structures (including capital spending and executive pay), ratemaking practices (like riders and return on equity), and fuel procurement methods to identify ways to reduce customer rates. This study must produce findings and recommendations for the legislature.