Bill > HF2255

This bill authorizes natural gas utilities in Minnesota to sell "extraordinary event bonds" in certain circumstances. Extraordinary events are defined as unforeseen circumstances, such as storms or natural disasters, that impose significant costs on customers. The bill establishes a process for the Public Utilities Commission to issue financing orders that allow utilities to recover these extraordinary event costs by issuing bonds and charging customers a nonbypassable fee to repay the bonds. The bill also specifies requirements for the financing orders, creates protections for the bond proceeds and revenue, and exempts assignees of the bonds from utility regulation.