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PUC authorizes pursuit of up to $62M lease financing for advanced meters
Summary
The Commission authorized staff to pursue lease financing through the state G‑SMART program or alternative shorter‑term mechanisms (up to $62 million, term not to exceed 20 years) for the automated meter infrastructure project; payments were already assumed in adopted retail rates.
The Commission on June 23 authorized the general manager to negotiate and execute lease financing for the automated meter infrastructure (AMI) project, approving the form of a lease‑purchase agreement and permitting staff to select a lender and financing alternative.
Todd Reedstrom, identified as chief financial officer and assistant general manager,…
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