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Committee backs bill letting utilities securitize prudently incurred storm costs; amendment extends PUC review window
Summary
The Science, Technology and Energy Committee advanced HB 15‑39, which would let utilities securitize PUC‑approved storm recovery costs to spread payments over decades. Supporters say it reduces near‑term bill shocks; critics and state agencies warned about administrative costs and oversight resources.
Representative Michael Vose introduced HB 15‑39, saying the bill would add prudently incurred storm recovery costs to RSA 369‑B and allow the Public Utilities Commission to approve securitization — the issuance of AAA‑rated, rate‑reduction bonds — so utilities could spread repayment over bond terms and reduce immediate bill impacts.
Supporters argued securitization is an established regulatory tool. Mark Brown of the Consumer Energy Alliance pointed to examples in other states where securitization reduced customer costs, and Eversource’s Michael Licata told the committee New Hampshire has used securitization before and that recent storm seasons produced very large costs:…
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