Relating to utility affordability and economic competitiveness

HB 4894, the "West Virginia Utility Affordability and Economic Competitiveness Act," prohibits utility companies from raising rates for one year (a moratorium) and establishes a phased approach to reduce high utility costs for West Virginia residents and businesses. It requires utilities to evaluate all costs - including base rates, fees, environmental impacts, and long-term system reliability - when making future rate decisions, rather than focusing solely on individual projects. The bill directly affects all West Virginia households and businesses that pay utility bills, aiming to lower the state’s position as having some of the highest combined electricity and water costs in the U.S. The law mandates that affordability be measured by total system costs and competitiveness relative to neighboring states, not just immediate rate changes.