HB881

Hawaii HB881 establishes the Catastrophic Wildfire Securitization Act to allow public utilities to raise capital for wildfire risk mitigation and.

Hawaii HB881, the Catastrophic Wildfire Securitization Act, enables public utilities to securitize rates to raise capital for costs and expenses related to catastrophic wildfires, including mitigation, disaster relief, and litigation. The Act allows public utilities to request the Hawaii Public Utilities Commission to issue financing orders authorizing the recovery of these costs through fixed recovery charges. These charges are nonbypassable and must be paid by consumers until the recovery bonds and associated financing costs are fully paid.