Washington § 80.28.309 - Costs as bondable rate recovery expenditures.

(1) Costs incurred before May 17, 2025, by electrical, gas, or water companies with respect to events described in RCW 80.28.005(3)(a) or energy or water conservation measures and services described in RCW 80.28.005(3)(b) shall constitute bondable rate recovery expenditures for purposes of RCW 80.28.005, 80.28.303, 80.28.306, and this section, if:

(a) The commission has previously issued a rate order authorizing the inclusion of such costs in rate base; and

(b) The commission authorizes the issuance of rate recovery bonds secured by rate recovery assets associated with such costs.

(2) If costs incurred before May 17, 2025, by electrical, gas, or water companies with respect to events described in RCW 80.28.005(3)(a) or energy or water conservation measures described in RCW 80.28.005(3)(b) have not previously been considered by the commission for inclusion in rate base, an electrical, gas, or water company may apply to the commission for approval of such costs. If the commission finds that the expenditures are bondable rate recovery expenditures, the commission shall by order designate such expenditures as bondable rate recovery expenditures, which shall be subject to RCW 80.28.005, 80.28.303, 80.28.306, 80.28.490, and 80.28.500, and this section.

Purpose—Intent—Severability—Validity of actions taken pursuant to financing orders—Application—Effective date—2025 c 310: See notes following RCW 80.28.005.