Natural gas utilities authorization to sell extraordinary event bonds under certain circumstances

This bill authorizes Minnesota natural gas utilities to issue "extraordinary event bonds" to cover significant costs from major disasters or unexpected events like storms, cyberattacks, or sudden gas price spikes. Utilities would recover these costs through a new, separate nonbypassable charge added to all customers' bills (excluding small users served by utilities with fewer than 350,000 customers), not included in regular rates. The bonds must be rated AA or higher, mature within 30 years, and repayment is tied specifically to the approved disaster-related costs, with oversight by the Public Utilities Commission.