Washington HB1656 allows electrical companies to securitize certain wildfire-related costs to lower costs to customers.

Washington HB1656 amends state law to authorize electrical, gas, and water companies to securitize certain costs related to emergency events like wildfires. The bill allows these companies to issue bonds to finance these costs, which can then be recovered through customer rates. The Washington Utilities and Transportation Commission must approve the issuance of these bonds and the associated rates. The bill aims to lower the total rates for customers by using securitization financing, which may be more favorable than other methods of recovery.

Washington HB1656 allows electrical companies to securitize certain wildfire-related costs to lower costs to customers.

Washington HB1656 amends state law to authorize electrical, gas, and water companies to securitize certain costs related to emergency events like wildfires. The bill allows these companies to issue bonds to finance these costs, which can then be recovered through customer rates. The Washington Utilities and Transportation Commission must approve the issuance of these bonds and the associated rates. The bill aims to lower the total rates for customers by using securitization financing, which may be more favorable than other methods of recovery.