Bill > SF2166

This bill authorizes natural gas utilities in Minnesota to sell "extraordinary event bonds" under certain circumstances. The key provisions are: - It defines an "extraordinary event" as an unforeseen circumstance, such as a storm or sharp increase in wholesale natural gas prices, that imposes significant costs on customers. - It allows utilities to apply to the Public Utilities Commission for a "financing order" to issue the extraordinary event bonds to recover the costs of repairing or replacing natural gas facilities damaged by an extraordinary event. - The financing order would approve the maximum amount of costs that can be financed, describe the customer billing mechanism for the associated "extraordinary event charges," and specify other requirements for the bond issuance. - The bill establishes protections for the extraordinary event property and bonds, including making the charges nonbypassable for customers and prohibiting the state or commission from impairing the bonds or charges. - The bill also allows the commission to use outside experts to assist in reviewing the utility's financing application and costs, and requires the utility to comply with certain reporting and transparency requirements.