Texas Utilities Code
§ 36.456 — FINANCING ORDER
UT § 36.456Title 2. PUBLIC UTILITY REGULATORY ACT · Part B. ELECTRIC UTILITIES · Ch. 36. RATES · Art. J. LOWER-COST FINANCING MECHANISM FOR SECURITIZATION FOR RECOVERY OF SYSTEM RESTORATION COSTS
Statute text
View on source(a)This section applies to the commission's issuance of a financing order under this subchapter.
(b)Except as otherwise specifically provided by this subchapter, the provisions of Subchapter I of this chapter and, to the extent made applicable to Subchapter I of this chapter, Subchapter G, Chapter 39, that address the commission's issuance of a financing order apply to the commission's issuance of a financing order under this subchapter. (b-1) Notwithstanding Sections 36.405(c) and (d), an electric utility may file an application with the commission under this subchapter for:
(1)a determination of the amount of estimated and actual system restoration costs eligible for recovery and securitization; and
(2)a financing order that authorizes the securitization of estimated and actual system restoration costs, the issuance of system restoration bonds, and the creation of system restoration charges for the recovery of qualified costs. (b-2) For an application filed under Subsection (b-1), the commission shall issue an order that determines the amount of estimated and actual system restoration costs eligible for recovery and securitization and a financing order that authorizes the securitization of estimated and actual system restoration costs, the issuance of system restoration bonds, and the creation of system restoration charges for the recovery of qualified costs not later than the 150th day after the date the application is filed. (b-3) For an application filed under Subsection (b-1), the estimated system restoration costs shall be subject to true-up and reconciliation and system restoration charges shall be adjusted after the actual system restoration costs are known.
(c)The corporation and any issuer must be a party to the commission's proceedings that address the issuance of a financing order along with the relevant electric utility.
(d)In addition to the requirements of Subchapter I, as applicable, a financing order issued under this subchapter must:
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Legislative history
Acts 2025, 89th Leg., R.S., Ch. 71 (S.B. 1963), Sec. 2, eff. September 1, 2025.