Washington HB1990 allows utility companies to securitize costs related to disasters or emergencies to lower costs to customers.

Washington HB1990 permits electrical, gas, and water companies to securitize certain costs related to emergency events, such as severe weather or pandemics, to lower costs to customers. The bill allows these companies to issue bonds to finance these costs, which are then recovered through customer rates. The Washington Utilities and Transportation Commission must approve the inclusion of these costs in rate base and the issuance of bonds. The bill also outlines the terms and conditions for the creation, transfer, and enforcement of security interests in rate recovery assets.

Washington HB1990 allows utility companies to securitize costs related to disasters or emergencies to lower costs to customers.

Washington HB1990 permits electrical, gas, and water companies to securitize certain costs related to emergency events, such as severe weather or pandemics, to lower costs to customers. The bill allows these companies to issue bonds to finance these costs, which are then recovered through customer rates. The Washington Utilities and Transportation Commission must approve the inclusion of these costs in rate base and the issuance of bonds. The bill also outlines the terms and conditions for the creation, transfer, and enforcement of security interests in rate recovery assets.