Authorizing electrical companies to securitize certain wildfire-related costs to lower costs to customers.

 H-1367.1

SUBSTITUTE HOUSE BILL 1656

State of Washington

69th Legislature

2025 Regular Session

By House Environment & Energy (originally sponsored by Representatives Abbarno, Doglio, Steele, Fey, Dye, Mena, Barnard, Klicker, Ley, Stuebe, Ybarra, Volz, Springer, Scott, Parshley, and Graham)

READ FIRST TIME 02/17/25.

AN ACT Relating to authorizing electrical companies to securitize certain wildfire-related costs to lower costs to customers; amending RCW 80.28.005 , 80.28.303 , 80.28.306 , 80.28.309 , and 80.08.140 ; adding new sections to chapter 80.28 RCW; creating new sections; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1. The purpose of this act is to allow an electrical, gas, or water company, if authorized by an order issued by the utilities and transportation commission, to use securitization financing for certain types of costs related to emergency events and approved for recovery in rates. The legislature finds that:

(1) Securitized debt may lower the total rates in comparison with other methods of recovery and may benefit the citizens of this state who are electrical, gas, or water company customers;