This bill authorizes electric utilities to issue AAA-rated bonds to recover costs associated with storm-related damages and enhance infrastructure resilience. It amends RSA 369-B by inserting a declaration of purpose that highlights the public interest in issuing finance orders for rate reduction bonds that securitize storm costs. The bill defines "storm costs" as expenses prudently incurred by electric utilities for storm preparation, restoration, and response, including associated fees and transaction costs. It allows the Public Utilities Commission (PUC) to issue finance orders for these bonds upon petition from electric utilities, provided the issuance is deemed in the public interest. Additionally, the bill introduces new language regarding the inclusion of "premium, if any," in the calculations for the rate reduction bond (RRB) charge, which the PUC will set based on necessary amounts to cover principal, interest, and related expenses.

The bill also mandates that the PUC issue a final decision on financing applications within 180 days and establishes a rate reduction bond charge to recover costs associated with these bonds. It requires the PUC to review each securitization petition and issue a financing order within 60 days, necessitating the hiring of additional staff, including a Utility Analyst and an Attorney, with projected costs funded through the Utility Assessment Fund. While the immediate impact on state expenditures is indeterminable, the long-term savings for customers and the state remain uncertain due to fluctuating interest rates and recovery periods. The bill aims to streamline the recovery process for storm-related costs while ensuring consumer protection through regulatory oversight.

Statutes affected:
Introduced: 369-B:1, 369-B:2, 369-B:3, 369-B:4
As Amended by the House: 369-B:1, 369-B:2, 369-B:3, 369-B:4
HB1539 text: 369-B:1, 369-B:2, 369-B:3, 369-B:4