2005 Rhode Island Code - § 39-1-43 — Legislative findings and declarations.

    The general assembly finds and declares that it is in the public interest to facilitate the transition to a competitive retail market by providing a mechanism that will permit the more efficient financing and recovery of certain utility costs arising out of the introduction of competition on a basis that will achieve savings to electric ratepayers. This can be accomplished by authorizing electric distribution companies to apply to the commission for securitization orders to finance all or portions of the contract termination fees paid by electric distribution companies to their wholesale power suppliers. To achieve its purpose, this chapter is to be construed in such a manner as to give effect to the form and terms of the transactions effected pursuant to such orders.