Texas Utilities Code

§ 39.603 — DEBT OBLIGATION ORDER

UT § 39.603Title 2. PUBLIC UTILITY REGULATORY ACT · Part B. ELECTRIC UTILITIES · Ch. 39. RESTRUCTURING OF ELECTRIC UTILITY INDUSTRY · Art. M. WINTER STORM URI DEFAULT BALANCE FINANCING

Statute text

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(a)On application by the independent organization, the commission by order may authorize the independent organization to establish a debt financing mechanism to finance the default balance if the commission finds that the debt obligations are needed to preserve the integrity of the wholesale market and the public interest, after considering:

(1)the need to timely replenish financial revenue auction receipts used by the independent organization to reduce amounts short-paid to wholesale market participants;

(2)the interests of wholesale market participants that are owed balances; and

(3)the potential effects of uplifting those balances to the wholesale market without a financing vehicle.

(b)The order must state:

(1)the default balance to be financed; and

…

Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 908 (H.B. 4492), Sec. 5, eff. June 16, 2021.