Relating to a financing mechanism allowing electric utilities to obtain recovery of costs associated with a weather-related event or other natural disaster; granting authority to issue bonds.

HB 2869 allows Texas electric utilities to recover costs from major weather-related events or natural disasters by issuing special "system restoration bonds." Utilities with estimated or actual restoration costs of $50 million or more in a single year can apply to the Public Utility Commission for approval to use this financing method. The Commission must approve applications within 150 days, authorizing the bonds and creating "system restoration charges" on customer bills. These charges are later adjusted to match actual costs once known, ensuring billing aligns with verified expenses.