Utilities

A $3.52 billion Texas Natural Gas Securitization Finance Corp. deal includes a make-whole redemption over three years to call bonds if the state appropriates funds to pay them off.

The much-delayed $3.5 billion deal has an optional limited make-whole redemption if state lawmakers appropriate funds to defray costs for natural gas customers.

The authority's issues hamper the USVI economy, Gov. Bryan says in his state of the territory speech.

The authority said it expects production problems and higher costs in the near future.

A full review of the deal pushes its consideration by the Texas Bond Review Board into January.

The financially distressed utility has less than two weeks to find a substitute supplier of 80% of its fuel.

The deal has until the end of Friday to clear the Texas Bond Review Board, whose members had no questions about the transaction when it was presented at a Thursday meeting.

The Kansas Corporation Commission approved a $92.7 million securitization for Atmos Energy. It had already approved $328 million for Kansas Gas Service.

The goal is to reduce energy costs and exposure to energy price spikes.

The public power industry continues to deal with a host of issues from extreme weather events to environmental concerns and rising inflation.

Utah Associated Municipal Power Systems is advancing the nation's first small modular reactor, a $6 billion project supporters say is the future of nuclear energy.

The pension system has sued WAPA demanding immediate payment of more than $2 million in employee contributions.

Kansas Gas Service is the third division of Tulsa-based ONE Gas, Inc., to participate in a state-sanctioned securitization related to Winter Storm Uri.

The finance team on the Western Placer Waste Management Authority deal hopes to benefit from an improving market with increased inflows.

Oklahoma's first utility securitization bond deal related to 2021's Winter Storm Uri continued to attract criticism from a state regulator who called for an independent review.

The county wants to enter into a public-private partnership to finance, build and operate a public utility and multiple microgrids that will sell power to advanced manufacturers who require hyper-reliable energy.

While an Oklahoma regulatory official said the bond sale's results for ratepayers was “simply horrifying,” the rapid increase in U.S. Treasury and municipal interest rates since the start of the year were directly correlated.

A heat wave blasting Texas and other states is unlikely to lead to days-long blackouts as 2021's Winter Storm Uri did, the rating agency said.

The board also approved a rollover of bond anticipation notes because it doesn't have access to the bond market.

The authority will takes steps to raise $1 billion to address expected growth of expenses.