The cold days of winter have barely set in, and electricity is already one of the biggest concerns in West Virginia. At kitchen tables, in campaign speeches, and at national energy forums, people are asking the same questions: How do we keep power affordable? reliable? All while demand grows?

At local hearings, residents are worried about rising bills. At economic-development meetings, leaders are debating how to power energy-hungry data centers. And just the other week in Charleston, energy experts at the West Virginia Energy Summit outlined a stark reality: demand is climbing, costs are rising, and staying competitive will require a new approach. A major focus of the Summit was Governor Patrick Morrisey’s “50 by 50” goal — a forward-thinking plan to generate 50 gigawatts (GW) of power capacity by 2050. Today, West Virginia produces about 15 GW of capacity generation. Meeting that target would mean unprecedented energy investment and could position the state to attract new industries and drive economic growth.

But as we consider how to meet that goal, we can’t ignore a hard truth: electricity in West Virginia is becoming too expensive for the businesses and families who rely on it.

And for utilities to build new power plants, energy users will only continue to see their bills rise to pay for those costs. For businesses, the state’s West Virginia Forward — a collaborative project between the state, West Virginia University and Marshall University on economic development strategies — reveals that rising electricity costs are already hurting competitiveness. Since 2008, the price percentage change for large energy user electricity rates has increased more than almost all other states:

Commercial businesses have risen by 92 percent — the second-fastest increase in the nation.

Industrial businesses are up 85 percent, also second worst in the country.

West Virginia businesses are focused on getting by, when they should be focused on growing operations.

While West Virginia’s energy costs surge, neighboring states — Ohio, Pennsylvania, Maryland, and Virginia — allow large commercial and industrial customers to procure their own electricity through a competitive wholesale market. This simple policy difference lets businesses shop for contracts and prices that fit their needs, potentially saving them millions in the process. The results are undeniable. A Cleveland State University study found that between 2019 and 2024, Ohio businesses using competitive procurement — instead of their local utility — saved $1.17 billion per year. That’s a billion-dollar proof point that choice lowers cost.

West Virginia businesses don’t have that option. They’re required to buy electricity at rates set by the utilities — no matter how high those rates climb. That rigidity is discouraging new companies from locating or expanding here. And many existing employers are struggling under the weight of rising power bills.

The problem could accelerate if utilities begin building new generation to meet the 50 by 50 goal. Constructing just one 700-megawatt natural gas plant could cost more than $800 million — and those costs are not paid by the utilities, but passed directly on to you, the ratepayer.

There’s a better way to meet growing energy needs, protect consumers, and make West Virginia more attractive for future business: allow the largest energy users to buy their own electricity.

A modernized wholesale shopping option simply gives large employers an additional tool to manage their energy needs. Utilities would continue serving the vast majority of West Virginia customers and still serve as the default option for large users. This approach doesn’t replace the existing structure — it complements it — giving major employers more flexibility and stability in planning their long-term energy costs.

Opening the market would also send a clear and constructive signal to independent power producers that West Virginia welcomes private investment in new generation.

Rather than relying solely on utility-built projects — and the ratepayer obligations that come with them — the state could tap billions in outside investment to supplement utility plans. Importantly, this structure shifts the financial risk of new generation away from households and small businesses and onto private developers, especially in the event that future demand does not materialize as projected. That’s a safeguard to protect the pockets of consumers.

Critically, none of this requires sacrificing oversight, reliability, or West Virginia’s longstanding commitment to a strong grid. Neighboring states have shown that competitive procurement and incumbent utilities can coexist successfully. The result is a system that accelerates investment, attracts new industry, and applies downward pressure on price — without compromising reliability.

West Virginia must stay competitive and prevent jobs from drifting to neighboring states. Give businesses confidence to invest, and put the Mountain State back in the running to attract new industries — and keep those that are already here. Letting large users manage their own power is a simple way to stay in the highly competitive fight; and just as important, help protect the pockets of Mountaineers.

(Chris Ercoli is the president and CEO of Retail Energy Advancement League (REAL), a national advocacy organization dedicated to the expansion and modernization of American retail energy markets.)