§ 39-1-43 - Legislative findings and declarations. - Rhode Island Statutes

SECTION 39-1-43

   § 39-1-43  Legislative findings anddeclarations. – The general assembly finds and declares that it is in the public interest tofacilitate the transition to a competitive retail market by providing amechanism that will permit the more efficient financing and recovery of certainutility costs arising out of the introduction of competition on a basis thatwill achieve savings to electric ratepayers. This can be accomplished byauthorizing electric distribution companies to apply to the commission forsecuritization orders to finance all or portions of the contract terminationfees paid by electric distribution companies to their wholesale powersuppliers. To achieve its purpose, this chapter is to be construed in such amanner as to give effect to the form and terms of the transactions effectedpursuant to such orders.