Increasing oversight and regulatory authority of PSC

SB 776 expands the West Virginia Public Service Commission's (PSC) oversight authority over public service districts (PSDs), which provide essential utility services like water and electricity in local communities. The bill requires PSDs to adopt PSC-approved operational guidelines, undergo mandatory biennial audits, submit annual financial transparency reports, and ensure board members complete continuing education. It also grants the PSC power to conduct scheduled and unscheduled inspections and impose fines or require management changes for non-compliance. These provisions aim to standardize PSD operations, enhance accountability, and ensure financial transparency for the communities they serve.