Natural gas utilities authorized to sell extraordinary event bonds under certain circumstances, account established, and money appropriated.

HF 1226 allows natural gas utilities in Minnesota to issue special "extraordinary event bonds" to cover costs from major disasters like storms, cyberattacks, or sudden gas price spikes. Utilities would recover these costs through a separate, nonbypassable "extraordinary event charge" added to customers' bills, distinct from regular rates. The bonds must have high credit ratings (AA or better), mature within 30 years, and only cover approved, necessary recovery costs after accounting for insurance and government aid. This directly affects all natural gas customers in Minnesota who pay utility bills, as the new charge would apply to their accounts following qualifying emergencies.