Texas Utilities Code

§ 41.157 — TRUE-UP

UT § 41.157Title 2. PUBLIC UTILITY REGULATORY ACT · Part B. ELECTRIC UTILITIES · Ch. 41. ELECTRIC COOPERATIVES AND COMPETITION · Art. D. MARKET PARTICIPATION AND SECURITIZATION

Statute text

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(a)A financing order shall be reviewed and adjusted promptly if after its adoption there are additional charges, reductions, or refunds of extraordinary costs and expenses, to:

(1)ensure that there is not an over-collection or an under-collection of extraordinary costs and expenses; and

(2)ensure that collections on the securitized property will be sufficient to timely make all periodic and final payments of principal, interest, fees, and other amounts and to timely fund all reserve accounts, if any, related to the securitized bonds.

(b)A financing order shall also include a mechanism requiring that securitized charges be reviewed by the board and adjusted at least annually, not later than the 45th day after the anniversary date of the issuance of the securitized bonds, to:

(1)correct over-collections or under-collections of the preceding 12 months; and

(2)ensure the expected recovery of amounts sufficient to timely provide all payments of debt service and other required amounts and charges in connection with the securitized bonds.

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Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 950 (S.B. 1580), Sec. 1, eff. June 18, 2021.