Jennifer Hiller
speaker
49 appearances
1 recordings
1 series
first heard Dec 2022
last heard Dec 2022
Jennifer Hiller’s voice in public audio — every appearance, attributed to the second.
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Appearances
It's a debt that's actually the responsibility of the ratepayers.
Companies borrow money in different ways.
This is just a little bit cheaper, essentially.
It's a slightly cheaper way to pay the debt.
So if a company is going to go borrow money, it's based on their own capital mix and the health of that company.
So if a utility went and borrowed this money, it would be a slightly higher cost of borrowing than the securitization.
What the securitization does is it sort of spreads that responsibility across a whole bunch of people
across thousands and thousands of utility rate payers.
And you could actually have a situation where a utility goes bankrupt and this debt does not go away because the debt is actually sort of attached to the customers, not to the company.
And so that's why it is a little bit cheaper.
You can get a lower interest rate, but it is also sort of permanently attached until it gets paid back.
Yeah, there's a lot of different securitizations going on right now.
They're not common.
There's a lot more of them now than we've seen in the last few years.
But they are being considered for things like coal plant closures for states that want to see their coal plants maybe close a little bit early.
To cover the cost of doing that, that's one kind of securitization that we're seeing.
So it's basically a financial tool that has been around for a long time, but it's just being used maybe more frequently for weather these days.
This is something that's going to make utility bills more expensive, and they had already been growing more expensive.
And so that's a big issue.
I mean, across the country, we're seeing a lot of people fall behind on their electric and gas bills.
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