The Arizona Senate and House of Representatives have struck a victory for affordable, reliable and cleaner energy by sending House Bill 2679 to Gov. Katie Hobbs’ desk for her signature.
HB2679 is commonsense legislation that will enable the use of utility securitization in Arizona. The tool, which is authorized for use in 33 other states across the country, allows electricity providers to refinance assets like aging power plants and infrastructure damaged by natural disasters in order to save customers money on their utility bills. This is similar to when you refinance your mortgage at a lower interest rate to save money every month.