This bill authorizes public utilities in Wyoming to issue cost recovery bonds to finance utility costs, with oversight from the public service commission. It establishes a new section, W.S. 37-6-108, which defines key terms such as "bond," "bond costs," "financing order," "securitization charge," and "securitization property." The bill outlines the process for utilities to apply for financing orders, which must be approved by the commission after a notice and hearing. It also specifies the requirements for the securitization charge that utilities can impose on customers to recover bond costs, including the need for annual adjustments to ensure timely payment.

Additionally, the bill stipulates that financing orders are irrevocable and binding on the public service commission, preventing any alterations that could affect the securitization charge once established. It clarifies that bonds issued under this section do not constitute state debt or liabilities, and the state pledges not to impair the rights of bondholders. The bill also addresses the treatment of surplus securitization charges and the classification of securitization property as utility property. The act is set to take effect on July 1, 2025.