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Committee advances securitization change to expedite recovery of Hurricane Helene storm costs
Summary
A bill would let investor‑owned utilities securitize estimated storm costs and reconcile actual costs later, which witnesses said would speed recovery of over $500 million in Duke Energy storm costs and could limit credit‑rating pressure; ORS and the PSC remain central reviewers.
A committee advanced legislation that would let electric utilities use the state’s securitization framework to finance storm‑recovery costs based on estimated invoices and reconcile actual costs in a later proceeding.
The securitization mechanism, enacted in 2022, allows utilities to issue low‑cost, bond‑like instruments to recover catastrophic storm costs if the Public Service Commission finds a quantifiable net benefit to customers compared with traditional rate recovery. Under the bill…
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