Here is a NYT article by top financial journalist, Gretchen Morgenson: difficult topic, written in easy to understand manner, raises important issues, surprise ending.
In the News: Recent Developments
- “DTE Utility Deal Braves High Costs”
- “Saber Partners, LLC Chosen by Colorado Public Utilities Commission to Provide Guidance on Utility Securitization”
- “Kentucky Public Service Commission Chooses Saber Partners as Financial Advisor for Utility Securitization”
- “Saber Briefs South Carolina Regulators on Capital Market Issues”
- “US Households Expected to Pay Higher Utility Bills for Decades”
- “Utility Bills Rise as Americans Pay Off Storm-Recovery Costs for Decades to Come”
- “Utility Regulators’ Interview Saber Partners’ CEO About Firm’s Expertise, Accomplishments”
- “Recovery bond market set for issuance ‘waterfall’ – IFR News”
- “Former Top Texas Utility Regulators Endorse Saber Partners as Top Utility Securitization Advisor and Ratepayer Advocate”
- “North Carolina Utilities Commission Public Staff Releases Evaluation of Saber Partners Utility Securitization Advisory Services”
- “Congress Should Suspend Payroll Taxes, Reduce Long-Term Unemployment”
- “Southern California Edison Company hires Saber Partners, LLC as a Financial Advisor on Potential $1 Billion Securitization”
- “North Carolina Utilities Commission Issues Storm Securitization Financing Order”
- “PG&E: largest utility ABS ever wins approval”
- “Unprecedented PG&E Ratepayer Bond Gets Final Okay”
- “Possible hundreds of billions in US power plant securitizations spur ratepayer protection debate”
- “Investors Leap on Rare Utility Recovery Bond ”
- “APS’s plan for closing coal plants could be a gamechanger, analysts say, but who will pay?”
- “Utility customers owe up to $40B in COVID-19 debt, but who will pay it?”
- “PG&E Touts Biggest Ratepayer Bond in U.S. History”
- “CPUC Judge Adds Ratepayer Protections to $337M SCE Bond”
- “CPUC, Not SCE, Calls Shots on Ratepayer Bonds, Lawmaker Says”
- “North Carolina Utilities Commission Public Staff Selects Saber Partners, LLC as Advisor on Utility Securitization”
- “To Our Clients and Friends: COVID-19 Response”
- “Traditional Ways of Paying for Fires, Floods Aren’t Cutting It: Utility companies are facing climate change-related costs so high they can no longer pass them directly to customers”
- “Saber Partners’ CEO Joseph Fichera to Speak on Innovative Products at Hong Kong Securitization Conference”
- “Securitization Fever: Renewables Advocates Seize Wall Street’s Innovative Way to End Coal”
- “NARUC Electricity Committee Briefing on Utility Securitization”
- “SURFA Securitization Presentation Details History, Uses and Issues with Utility Securitization”
- “Saber Partners’ CEO Joseph Fichera Speaks at Society of Utility Regulatory Financial Analyst Conference”
- “Coal Plant Closure Bonds Gain Steam With Shift In Power Mix”
- “New Mexico Lawmakers Mull Securitization to Hasten Coal-Fired Plant Closures; Saber Partners Discusses “Best Practices” with Regulators”
- “National Regulatory Research Institute Publishes “Insights” Article on Utility Securitization By Saber CEO, Joseph Fichera”
- “Florida PSC Letter Describes Saber Partners’ Performance as Financial Advisor”
- “California Regulatory Commission Has Saber & PGE Testify on Securitization; PGE & Saber Agree on Financing Tool”
- “National Italian American Foundation (NIAF) Honors Saber CEO Joseph Fichera with Special Achievement Award in Finance; Presentation to More than 800 at New York Gala”
- “Saber Provides Detailed, Expert Testimony on Utility Securitization in California Public Utility Commission Proceeding on Community Choice and Exit Fees”
- “Hurricane Irma / Florida Power & Light – A Case Study of Federal Tax Law Changes and Florida’s Storm Recovery Financing Act – $200 Million in Savings Swept Away”
- “BofA Pays Tutor Perini $37M to Settle Fraud Case (Saber Provided Expert Analysis and Testimony to Tutor Perini)”
- “Testimony of Saber CEO, Joseph S. Fichera, Before Colorado Senate on Proposed “Colorado Energy Impact Assistance” Legislation”
- “Colorado Opens Door to Utility-Fee Deals”
- “Why This Florida Regulator is Crying Foul Over Two Letters”
- “Puerto Rico Electric Power Authority’s rate burden to face renewed scrutiny”
- “Duke Energy Bond Chooses Corp. Bond Audience Over ABS”
- “Duke’s Utility Fee Securitization Sets Important Precedent”
- “Barclays Risk Analytics and Index Solutions, Technical Note:Classification of Duke Energy Florida Project Finance, LLC”
- “Nuclear Asset-Recovery Bonds Issued for Duke Energy Florida LLC”
- “Florida Ratepayers, Regulators Speak on Saber Partners’ Effectiveness”
- “Utility Securitization Bills Advance in Florida”
- “Funding Sought for Nuclear-Plant Shutdowns”
- “Martin O’Malley’s Message for Bankers: Pull Over!”
- “SEC Commissioner Stein Says Overlooking Bank Criminal Activity Will Lead To Further Criminal Activity”
- “Risky CPS debt raises questions about SEC protections for governments”
- “Good Medicine for Bad Bankers”
- “Wall Street needs a lesson from the DMV”
- “Make the SEC like the DMV”
- “Banks Kept CPS in Shaky Bond Market”
- “The S.E.C. Should Copy the D.M.V.”
- “Saber Partners, LLC’s Chief Executive Officer (CEO), Joseph Fichera, Hospitalized”
- “Investors Pay More for Munis than Dealers, MSRB Report Shows”
- “Alabama Utility Shows How to Win Back Bank Swap Fee: Muni Credit”
- “Were Detroit’s Swaps Unfair?”
- “Appalachian Power prices USD 380.3m utility ABS; tranches in line with, tight of talk”
- “Price Transparency and the ABS Market”
- “FirstEnergy Tests Market Appetite for Utility ABS”
- “Saber Partners Sees Strong Investor Demand, Low Coupons for FirstEnergy Pass-Through Certificates”
- “Denver Pays Wall Street $216 Million as Swaps Fail: Muni Credit”
- “Ex-Jefferies Arrest Shows Market Lacking Transparency: Mortgages”
- “Clean Up: Financing the Retirement and Remediation of Coal-fired Power Plants”
- “MSRB to Change ARS Data As Urged by Advisor”
- “Municipal-Bond Regulator to Change Auction Rate Securities Data”
