Texas HB2869 allows electric utilities to issue bonds for system restoration costs over $50 million.

HB2869 amends the Texas Utilities Code to establish a financing mechanism for electric utilities to recover costs from weather-related events or natural disasters. The bill allows utilities to apply for securitization and issuance of system restoration bonds for costs of $50 million or more annually. Utilities can file an application with the Public Utility Commission for a determination of eligible costs and a financing order. The estimated costs are subject to adjustment after the actual costs are known.

Texas HB2869 allows electric utilities to issue bonds for system restoration costs over $50 million.

HB2869 amends the Texas Utilities Code to establish a financing mechanism for electric utilities to recover costs from weather-related events or natural disasters. The bill allows utilities to apply for securitization and issuance of system restoration bonds for costs of $50 million or more annually. Utilities can file an application with the Public Utility Commission for a determination of eligible costs and a financing order. The estimated costs are subject to adjustment after the actual costs are known.