Texas Utilities Code
§ 39.653 — DEBT OBLIGATION ORDER
UT § 39.653Title 2. PUBLIC UTILITY REGULATORY ACT · Part B. ELECTRIC UTILITIES · Ch. 39. RESTRUCTURING OF ELECTRIC UTILITY INDUSTRY · Art. N. WINTER STORM URI UPLIFT FINANCING
Statute text
View on source(a)The independent organization shall file an application with the commission to establish a debt financing mechanism for the payment of the uplift balance if the commission finds that such financing will support the financial integrity of the wholesale market and is necessary to protect the public interest, considering the impacts on both wholesale market participants and retail customers.
(b)An order issued under this section must:
(1)state the uplift balance to be financed;
(2)state the period over which the uplift charges must be assessed to repay the debt obligations, which may not exceed 30 years; and
(3)provide the process for remitting the proceeds of the financing to load-serving entities who were exposed to the costs included in the uplift balance, including a requirement for the load-serving entities to submit documentation of their exposure.
(c)The independent organization shall assess uplift charges to all load-serving entities on a load ratio share basis, which may be translated to a kWh charge, including load serving entities who enter the market after an order has been issued under this subchapter, but excluding the load of entities that opt out under Subsection (d).
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Legislative history
Added by Acts 2021, 87th Leg., R.S., Ch. 908 (H.B. 4492), Sec. 5, eff. June 16, 2021.