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House Bill 1510 |
House Author: Metcalf et al. |
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Effective: 6-1-21 |
Senate Sponsor: Creighton |
House Bill 1510 amends the Utilities Code to provide for the securitization of system restoration costs for electric utilities operating solely outside of ERCOT. Among other provisions, the bill creates the Texas Electric Utility System Restoration Corporation as a special purpose public corporation and instrumentality of the state to provide a lower-cost supplemental financing mechanism available to the Public Utility Commission of Texas (PUC) and those electric utilities to attract low-cost capital to finance those costs and includes among the system restoration costs that an electric utility may obtain timely recovery of using securitization financing reasonable and necessary weatherization and storm-hardening costs incurred, as well as reasonable estimates of costs to be incurred, by the utility.
House Bill 1510 authorizes, but expressly does not require, an electric utility operating solely outside of ERCOT to obtain a certificate of convenience and necessity from the PUC to install, own, or operate a generation facility with a capacity of 10 megawatts or less.