West Virginia HB5492: Relating to advance purchase agreements for electric substation transformers

What the bill says

To amend the Code of West Virginia, 1931, as amended, by adding a new section, designated §5B-2-22, relating to advance purchase agreements for electric substation transformers by the Department of Economic Development to accelerate economic development projects for projects that the that are subject to regulation by the Public Service Commission; listing specifications for eligible transformers; listing requirements for ordering, payment and maintenance; granting rulemaking authority to the Department of Economic Development; addressing debt forgiveness and economic relief; delineating.

From the introduced text, February 13, 2026:

A BILL to amend the Code of West Virginia, 1931, as amended, by adding a new section, designated §5B-2-22, relating to advance purchase agreements for electric substation transformers by the Department of Economic Development to accelerate economic development projects for projects that the that are subject to regulation by the Public Service Commission; listing specifications for eligible transformers; listing requirements for ordering, payment and maintenance; granting rulemaking authority to the Department of Economic Development; addressing debt forgiveness and economic relief; delineating the recovery processes for state funds; and clarifying that the Public Service Commission does not have approval power for these purchases. article 2. department of economic development. §5B-2-22. Advance purchase agreements for electric substation transformers serving economic development projects. (a) Legislative Findings: -- The Legislature finds that the timely availability of electric substation transformers is a critical factor in attracting and supporting large scale industrial, commercial, and advanced technology development within the State of West Virginia. The Legislature further finds that nationwide shortages and extended manufacturing lead times for high voltage power transformers materially delay economic development projects and limit the ability of the state to compete for new investment. It is the intent of the Legislature to authorize the strategic advance purchase of standardized, reusable substation transformers through regulated electric utilities in order to shorten project timelines while …