What are other electric utilities charging or doing to recover their winter storm-related costs?
The expenses to recoup for many utilities are also considerably high. After the winter event, the total cost to the entire State of Texas was estimated to be at least $190 billion. Within that cost, every electric utility had various levels of charges billed to them based on the amount of electric usage during that event. This catastrophic winter event turned into a catastrophic financial event for everyone.
To address winter storm costs, the majority of electric utilities have enacted or are considering increasing their rates. It's important to note that other electric utilities may not itemize the Winter Storm Uri charge on their bills. HILCO has chosen to separate these securitization charges to be transparent, while others may include them in their energy rates. At HILCO, the securitization charge is a pass-through charge. It is required to be billed, collected, and remitted by HILCO. It is not marked up or a profit to HILCO.