Monitoring the Session

SB 1963

Storm Repairs Hit $50M? Your Power Bill Repays The Bonds

Became law, effective Sep 1, 2025

Verdict: No flags

No flagsInitial review
Sen. Brandon CreightonRSenate 4

Initial review · graded Oct 22, 2026 · Headline, summary and grade are analysis of the bill text, not a finding about any person · How we grade

Caption

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.

Caption from analyzed text · version H.

Summary

ERCOT utilities get the low-cost storm bonds others already use. Ruling due within 150 days.

The bill lets electric utilities inside the ERCOT grid use the same low-cost bond financing for storm repair costs that utilities outside ERCOT already use. It lets a utility apply based on estimated and actual repair costs of $50 million or more in a year, and it requires the Public Utility Commission to rule within 150 days. Utility customers repay these bonds through system restoration charges on their bills, and the charges are adjusted once the actual costs are known.

Receipt

The receipt

89R-SB1963 · 2025-03-05

SOLD BY

Sen. Brandon CreightonRSenate 4

ITEM

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.

WHAT IT DOES

ERCOT utilities get the low-cost storm bonds others already use. Ruling due within 150 days.

The bill lets electric utilities inside the ERCOT grid use the same low-cost bond financing for storm repair costs that utilities outside ERCOT already use. It lets a utility apply based on estimated and actual repair costs of $50 million or more in a year, and it requires the Public Utility Commission to rule within 150 days. Utility customers repay these bonds through system restoration charges on their bills, and the charges are adjusted once the actual costs are known.

CHARGES

[ ] NONE FOUND

TOTAL

Net to General Revenue · FY 2026($690,385)

LBB estimate, flow · fiscal note version I · ( ) = negative · source

Sources

Fiscal note · version I · April 2, 2025

Estimated Two-year Net Impact to General Revenue Related Funds for SB1963, As Introduced: a negative impact of ($1,380,770) through the biennium ending August 31, 2027. The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.

First year · FY 2026 · ($690,385)

Probable Net Positive/(Negative) Impact to General Revenue Related Funds

LBB published estimates · flow over the stated periods.

Source snapshot 2026-10-19, Central time.

HISTORY

  1. Received by the Secretary of the Senate
  2. Filed
  3. Read first time
  4. Referred to Business & Commerce
  5. Scheduled for public hearing on . . .
  6. Considered in public hearing
  7. Testimony taken in committee
  8. Left pending in committee
  9. Considered in public hearing
  10. Vote taken in committee
  11. Reported favorably w/o amendments
  12. Committee report printed and distributed
  13. Placed on intent calendar
  14. Rules suspended-Regular order of business
  15. Record vote
  16. Read 2nd time & passed to engrossment
  17. Record vote
  18. Three day rule suspended
  19. Record vote
  20. Read 3rd time
  21. Passed
  22. Record vote
  23. Reported engrossed
  24. Received from the Senate
  25. Read first time
  26. Referred to State Affairs
  27. Considered in public hearing
  28. Reported favorably w/o amendment(s)
  29. Comte report filed with Committee Coordinator
  30. Committee report distributed
  31. Laid out in lieu of companion HB 2869
  32. Read 2nd time
  33. Passed to 3rd reading
  34. Record vote RV#1224
  35. Statement(s) of vote recorded in Journal
  36. Committee report sent to Calendars
  37. Read 3rd time
  38. Passed
  39. Record vote RV#1352
  40. Statement(s) of vote recorded in Journal
  41. House passage reported
  42. Reported enrolled
  43. Signed in the Senate
  44. Signed in the House
  45. Sent to the Governor
  46. Signed by the Governor
  47. Effective on 9/1/25
FILED UNDER

DATA CENTERS, WATER AND THE GRID

THE TEXT

…“the issuance of system restoration bonds, and the creation of system restoration charges for the recovery of qualified costs”…

Bill text, House committee report version (H)

The bill lets grid utilities pass storm repair costs, including estimated ones, to customers through bond-backed charges on their bills.

SIGNED FOR BY

House · 99 yea · 24 nay

Senate · 27 yea · 4 nay

Sources

House: Final passage · May 2, 2025. Journal. Published stock for this vote. Snapshot 2026-10-19, Central time.

Senate: Final passage · Apr 23, 2025. Journal. Published stock for this vote. Snapshot 2026-10-19, Central time.

All floor motions and other positions below.

No flags

THANK YOU FOR CHECKING THE RECEIPT

CAMPAIGN PAID FOR BY

CAMPAIGN PAID FOR BY

Brandon Creighton

Donors

Donors report through Friends of Brandon Creighton.

Not tied to this bill.

Sources

The author's campaign account only. Own money and internal transfers are separate on the member page.

$0 raised since Jul 1, 2024. Derived sum of published report totals. blank in the state's data, consistent with zero. Flow, Jul 1, 2024 through Jun 30, 2026. State filing data as of Nov 4, 2026. 4 of 4 filed reports carry a published figure.

Report 101060909: Published total from the filed report. Retrieved Oct 29, 2026. Filed report 101060909

$0 spent Jan 1, 2026 to Jun 30, 2026. Published total from the filed report. Flow, Jan 1, 2026 through Jun 30, 2026. State filing data as of Nov 4, 2026. 1 of 1 filed reports carry a published figure.

Report 101060909: Published total from the filed report. Retrieved Oct 29, 2026. Filed report 101060909

$0 cash on hand. Published report total. Stock, as of Jun 30, 2026. State filing data as of Nov 4, 2026.

$0 loans outstanding. Published report total. Stock, as of Jun 30, 2026. State filing data as of Nov 4, 2026.

Derived sum of itemized contributions in regular reports and uncovered special-session dates. Unitemized contributions are not included. Flow, Jul 1, 2024 through Jun 30, 2026. State filing data as of Nov 4, 2026.

Money

Missing data does not establish zero giving. Display amounts are rounded.

Votes6

House May 2, 2025

Yea
99
Nay
24
Present, not voting
1
Absent
3
Excused
23
Names

Named positions matched to lawmakers. See the journal for unmatched names.

House journal

Sources

Record 1352

SB 1963 was passed by (Record 1352): 99 Yeas, 24 Nays, 1 Present, not voting.

Published stock of positions for this vote, except where marked derived.

  • Yea: 99 (published)
  • Nay: 24 (published)
  • Present, not voting: 1 (published)
  • Absent: 3 (derived from named list)
  • Excused: 23 (derived from named list)

House journal. Source snapshot 2026-10-19, Central time.

House May 1, 2025

Yea
117
Nay
20
Present, not voting
2
Absent
7
Excused
4
Names

Named positions matched to lawmakers. See the journal for unmatched names.

House journal

Sources

Record 1224

SB 1963 was passed to third reading by (Record 1224): 117 Yeas, 20 Nays, 2 Present, not voting.

Published stock of positions for this vote, except where marked derived.

  • Yea: 117 (published)
  • Nay: 20 (published)
  • Present, not voting: 2 (published)
  • Absent: 7 (derived from named list)
  • Excused: 4 (derived from named list)

House journal. Source snapshot 2026-10-19, Central time.

Senate Apr 23, 2025

Yea
27
Nay
4
Present, not voting
Not printed
Absent
0
Excused
0
Names

Named positions matched to lawmakers. See the journal for unmatched names.

Senate journal

Sources

The bill was read third time and was passed by the following vote: Yeas 27, Nays 4. (Same as previous roll call)

Published stock of positions for this vote, except where marked derived.

  • Yea: 27 (published)
  • Nay: 4 (published)
  • Present, not voting: Not printed
  • Absent: 0 (derived from named list)
  • Excused: 0 (derived from named list)

Senate journal. Source snapshot 2026-10-19, Central time.

Senate Apr 23, 2025

Yea
27
Nay
4
Present, not voting
Not printed
Absent
0
Excused
0
Names

Named positions matched to lawmakers. See the journal for unmatched names.

Senate journal

Sources

Senator Creighton moved that Senate Rule 7.18 and the Constitutional Rule requiring bills to be read on three several days be suspended and that SB 1963 be placed on its third reading and final passage. The motion prevailed by the following vote: Yeas 27, Nays 4.

Published stock of positions for this vote, except where marked derived.

  • Yea: 27 (published)
  • Nay: 4 (published)
  • Present, not voting: Not printed
  • Absent: 0 (derived from named list)
  • Excused: 0 (derived from named list)

Senate journal. Source snapshot 2026-10-19, Central time.

Senate Apr 23, 2025

Yea
27
Nay
4
Present, not voting
Not printed
Absent
0
Excused
0
Names

Named positions matched to lawmakers. See the journal for unmatched names.

Senate journal

Sources

The bill was read second time and was passed to engrossment by the following vote: Yeas 27, Nays 4. (Same as previous roll call)

Published stock of positions for this vote, except where marked derived.

  • Yea: 27 (published)
  • Nay: 4 (published)
  • Present, not voting: Not printed
  • Absent: 0 (derived from named list)
  • Excused: 0 (derived from named list)

Senate journal. Source snapshot 2026-10-19, Central time.

Senate Apr 23, 2025

Yea
27
Nay
4
Present, not voting
Not printed
Absent
0
Excused
0
Names

Named positions matched to lawmakers. See the journal for unmatched names.

Senate journal

Sources

Senator Creighton moved to suspend the regular order of business to take up for consideration SB 1963 at this time on its second reading: SB 1963, 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. The motion prevailed by the following vote: Yeas 27, Nays 4.

Published stock of positions for this vote, except where marked derived.

  • Yea: 27 (published)
  • Nay: 4 (published)
  • Present, not voting: Not printed
  • Absent: 0 (derived from named list)
  • Excused: 0 (derived from named list)

Senate journal. Source snapshot 2026-10-19, Central time.

Witnesses7
For
5
Against
1
On
1
Names

For

  • Association of Electric Companies of Texas1 registration
  • CenterPoint Energy Inc1 registration
  • Electric Transmission Texas1 registration
  • Entergy Texas Inc.1 registration
  • Texas New Mexico Power1 registration

Against

  • Sierra Club Lone Star Chapter1 registration

On

  • Public Utility Commission of Texas1 registration
Sources

7 parsed registrations across the loaded witness lists.

Derived stock of witness registrations. Repeated appearances count separately. Organizations and self-representation appear as printed.

Senate witness list. Source snapshot 2026-10-20, Central time.

Fiscal
Net to General Revenue · FY 2026($690,385)

LBB estimate, flow · fiscal note version I · ( ) = negative · source

Sources

Fiscal note · version I · April 2, 2025

Estimated Two-year Net Impact to General Revenue Related Funds for SB1963, As Introduced: a negative impact of ($1,380,770) through the biennium ending August 31, 2027. The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.

First year · FY 2026 · ($690,385)

Probable Net Positive/(Negative) Impact to General Revenue Related Funds

LBB published estimates · flow over the stated periods.

Source snapshot 2026-10-19, Central time.

How this was graded

Analysis of text version H by claude-opus-5-5, Oct 22, 2026, against the published rubric.

Sources

Texas Senate · Filed Mar 5, 2025

05/19/2025 E Effective on 9/1/25

Texas Legislature Online · Introduced · Senate Committee Report · Engrossed · House Committee Report · Enrolled

Data snapshot Oct 26, 2026 at 4:20 AM CDT. Grades, charges, quotes and corrections follow the published record.

Sponsors
Will MetcalfRHouse 16

House committee · State Affairs · Committee vote 14 aye, 1 nay · Out of committee

Senate committee · Business & Commerce · Committee vote 9 aye, 1 nay, 1 absent · Out of committee

Companion

HB 2869 by Metcalf (identical)

Subjects

Disaster Preparedness & Relief

Utilities--Electric

BONDS

PUBLIC UTILITY COMMISSION

Text

The text as introduced · 442 words

89R12142 SCR-F

By: Creighton
S.B. No. 1963

A BILL TO BE ENTITLED

AN ACT

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.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 36.451, Utilities Code, is amended by

amending Subsection (b) and adding Subsection (i) to read as

follows:

(b) The purpose of this subchapter is to make available a

lower-cost, supplemental financing mechanism to allow an electric

utility [ operating solely outside of ERCOT ] to obtain timely

recovery of system restoration costs under Subchapter I through

securitization and the issuance of transition bonds or system

restoration bonds by an issuer other than the electric utility or an

affiliated special purpose entity. Financing of system restoration

costs under this subchapter is a valid and essential public

purpose.

(i) Notwithstanding Section 36.403(j), an electric utility

may apply for securitization and the issuance of system restoration

bonds under this subchapter for estimated and actual system

restoration costs of $50 million or more in any calendar year.

SECTION 2. Section 36.456, Utilities Code, is amended by

adding Subsections (b-1), (b-2), and (b-3) to read as follows:

(b-1) Notwithstanding Sections 36.405(c) and (d), an

electric utility may file an application with the commission under

this subchapter for:

(1) a determination of the amount of estimated and

actual system restoration costs eligible for recovery and

securitization; and

(2) a financing order that authorizes the

securitization of estimated and actual system restoration costs,

the issuance of system restoration bonds, and the creation of

system restoration charges for the recovery of qualified costs.

(b-2) For an application filed under Subsection (b-1), the

commission shall issue an order that determines the amount of

estimated and actual system restoration costs eligible for recovery

and securitization and a financing order that authorizes the

securitization of estimated and actual system restoration costs,

the issuance of system restoration bonds, and the creation of

system restoration charges for the recovery of qualified costs not

later than the 150th day after the date the application is filed.

(b-3) For an application filed under Subsection (b-1), the

estimated system restoration costs shall be subject to true-up and

reconciliation and system restoration charges shall be adjusted

after the actual system restoration costs are known.

SECTION 3. This Act takes effect immediately if it receives

a vote of two-thirds of all the members elected to each house, as

provided by Section 39, Article III, Texas Constitution. If this

Act does not receive the vote necessary for immediate effect, this

Act takes effect September 1, 2025.