Authorizes the securitization of energy infrastructure, including coal plants, as a way to hasten their retirement and to bring additional funds to coal-dependent communities.
Authorizes the securitization of coal plants as a way to hasten their retirement and to bring additional funds to coal-dependent communities. It allows a utility company to swap its remaining coal plant debt for a ratepayer-backed bond.
Will shut down a coal power plant by creating a system to sell bonds that would make up for the money the utility would lose by closing the facility.
In 2019, Washington passed SB 5116, which will require utilities in Washington to stop buying electricity generated from coal by the end of 2025. Implementing rules require consultation with burdened communities.