|
investor-owned utilities that were made unrecoverable as a result |
| of the restructuring of the electric industry. The costs include, |
| among other things, long-term energy contracts, the prices of which |
| exceed market prices. Currently, investor-owned transmission and |
| distribution utilities are provided a reasonable opportunity over |
| time to recover these costs through rates. The proceeds of this |
| bond issue would be used to pay the stranded costs of the 3 |
| investor-owned transmission and distribution utilities operating in |
| the State. These costs are currently projected through the year |
| 2015 to be $1,088,750,000. |
