WICHITA, Kansas — Utility companies in Kansas will soon have a new accounting tool that could speed the closure of coal-fired power plants — and save customers money.
The financial tool is known as securitization. It’s not a new idea, but it is complex. The Kansas Legislature passed a bill approving the use of the tool after more than two years of discussion.
It’s a way for a utility company to refinance what it owes on some of its large investments — think mostly coal plants — at a much lower interest rate.