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 the charge and the irrevocability of financing orders once issued.

Additionally, the bill clarifies that bonds issued under this section do not constitute a debt or liability of the state or its political subdivisions, and it emphasizes that the securitization charge will be treated as a utility service charge for credit and collection purposes. Any surplus from the securitization charge beyond what is necessary to cover bond costs must be refunded to customers. The act is set to take effect on July 1, 2025.