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Committee hears securitization bill to allow gas utilities to spread extraordinary event costs
Summary
House File 1226 would allow regulated natural gas utilities to petition the Public Utilities Commission to issue long-term bonds to spread the cost of extraordinary events; sponsors and utility lawyers said the tool is optional and subject to PUC oversight.
Representatives Igoe and Hollins presented House File 1226, a bipartisan bill to authorize securitization as an optional financing tool for regulated natural gas utilities to recover extraordinary and unavoidable costs arising from disasters or other unforeseen events.
Representative Igoe said the legislation “creates the regulatory and legal framework needed to enable regulated natural gas utilities to seek securitization and allow the utility the option to petition to the PUC to issue long…
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