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. The financing order will specify the estimated costs to be recovered, the duration of the securitization charge, and the formula for determining the charge. Additionally, the commission is granted rulemaking authority to facilitate the administration of this section.

The bill also includes provisions for adjusting the securitization charge, ensuring timely payment of bond costs, and stipulates that the financing order is irrevocable once issued. It clarifies that bonds issued under this section do not constitute a debt or liability of the state, and the securitization charge will be treated as a utility service charge for credit and collection purposes. Any surplus amounts collected beyond what is necessary to pay bond costs must be refunded to customers. The act is set to take effect on July 1, 2025.