PUC hearing centers on securitization in Public Service wildfire plan as parties debate incentives

Public Service Company of Colorado’s proposed wildfire mitigation package — which parties estimate at about $1.9 billion over three years — includes a settlement commitment that the utility will seek a financing order and pursue securitization of the investments. Commissioners and intervenors focused much of the May 13 Colorado Public Utilities Commission hearing on whether the settlement and the statute give the company a binding duty to complete securitization and on how much value securitization would deliver to customers.

The settlement, filed April 18, 2025, says the company will “file a financing order under the statute” and staff and other intervenors said that language was intended to require the company to make the financing‑order filing. “This provision in the settlement waives the company's discretion on filing that financing order,” company witness Paul McGregor said on the record when reading the settlement text into the record.

Why it matters: parties said securitization materially affects customer cost outcomes and the company’s short‑term finances. Company witness Jonathan Berman pointed to an illustrative company model showing present‑value customer savings…