§5B-2N-2. Legislative findings; declaration of public policy.

(a) The Legislature finds that:

(1) The advent and advancement of new and existing technologies and drilling practices have created the opportunity for efficient development of natural gas in West Virginia, including opportunities for the production of electricity;

(2) Production of electricity utilizing natural gas produced in West Virginia is highly underdeveloped in comparison to nearby states with which West Virginia competes for economically beneficial projects. Natural gas electric generation projects have been undermined by existing regulatory requirements and related time delays;

(3) In developing regulatory actions and identifying appropriate approaches to encourage development of natural gas electric generation projects, agencies should attempt to promote coordination, simplification, and harmonization. Agencies should also seek to identify appropriate means to achieve regulatory goals that are designed to promote innovation and enhance West Virginia's competitiveness with surrounding states;

(4) Agencies should review their existing legislative and procedural rules to determine whether any such rules should be modified, streamlined, expanded, or repealed to make the agency's regulatory program more effective or less burdensome in achieving the regulatory objectives related to natural gas electric generation projects. Agencies should also evaluate the data that they have to determine what information might be useful to prompt permitting and approving natural gas generated electricity; and

(5) The West Virginia Department of Economic Development, established in §5B-2-1 et seq. of this code, is responsible for implementing this Grid Stabilization and Security Act and providing as much assistance as possible to grow and sustain the natural gas electric generation segment of the economy.

(b) The Legislature declares that facilitating the development of business activity directly and indirectly related to natural gas electric generation development, transportation, storage, and use serves the public interest of the citizens of this state by promoting economic development, improving economic opportunities for the citizens of this state, and providing additional opportunities to stabilize the price of electricity while increasing its reliability and availability.