CHARLESTON, WV (LOOTPRESS) – Two committees of the West Virginia House of Delegates deliberated and passed major legislation on Thursday to strengthen West Virginia’s electric grid and the state’s coal industry.
“We appreciate the work of members of the House Finance Committee, led by Chairman Vernon Criss, and members of the House Infrastructure & Technology Committee, led by Chairman Daniel Linville, to enact legislation that will improve the reliability of West Virginia’s electric grid, lower energy costs for consumers, and encourage greater capital investment in coal production and processing facilities,” said Chris Hamilton, President of the West Virginia Coal Association.
Hamilton said HB 3308, which authorizes the West Virginia Public Service Commission to consider and issue financing orders to certain utilities to permit the recovery of certain costs through securitization via consumer rate relief bonds, was advanced by the House Finance Committee on Thursday. The bill allows for securitization of investments needed as an option to allow West Virginia coal-fired electric generating plants in West Virginia to continue to operate for decades to come. The legislation also spares electric consumers a potential rate increase from skyrocketing energy costs. The bill will now be voted on by the full House of Delegates.
HB 3133, legislation to create a credit against the severance tax to encourage private companies to make infrastructure improvements to local roads and bridges in the state, was advanced by the House Technology & Infrastructure Committee on Thursday. The bill additionally provides a tax credit for mine infrastructure investments to sustain and expand coal production in the state, allowing West Virginia to build the next generation of the coal industry. The bill will now be considered by the House Finance Committee