Bill > HB1539

This bill authorizes electric utilities to issue AAA-rated bonds for recovering storm-related costs through a process called securitization. Specifically, the bill allows electric utilities to petition the Public Utilities Commission (PUC) to issue finance orders that enable the utility to sell "rate reduction bonds" to pay for storm-related expenses. "Storm costs" are defined as expenses prudently incurred by a utility for storm preparation, restoration, and response, including associated transaction fees. The PUC must make a determination that issuing these bonds is in the public interest, which can be based on factors like potentially lower overall costs for customers or mitigating bill impacts compared to traditional cost recovery methods. The bill requires the PUC to issue a final decision on such applications within 60 days and allows for periodic adjustments to the storm-recovery charge to ensure full recovery of bond costs. The rate reduction bonds will be structured to recover principal, interest, and other associated expenses, with charges adjusted at least annually to ensure timely repayment. This approach is intended to provide electric utilities with a financial tool to manage significant storm-related expenses while potentially offering customers more favorable cost recovery terms.

Agriculture and Natural Resources, Budget and Finance, Business and Industry

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1810&inflect=2