These monopolies vociferously protest Commission actions they consider harmful to credit ratings. However, they have no plan for the environmental considerations and consequences of climate change, which the investment company Moodys considers increasingly relevant when assessing credit quality. While some electric utilities have acknowledged climate risk in corporate filings with the U.S. Securities and Exchange Commission, most of these utilities have yet to integrate climate considerations into their planning decisions.
In Montana, a hotter, drier, climate intensifies the risk of utility-sparked wildfires, and resulting costs. Before these monopolies can pass costs related to these known risks on to Montanans, government regulators must assess a utility’s historic reliance on resources that contribute to climate change, and the planning they have undertaken to address it.
Montana law requires the commission to allow public comment on a utility’s procurement plan. To date, the Commission has not noticed the supplement for public comment. Montanans will want to watch how the commission allocates the consequences for failing to plan for climate risk. Monopolies should not recover costs from us if they didn’t adequately plan for climate risks such as severe storms, wildfires or flooding.
Monica Tranel grew up in eastern Montana and represents clients in front of the Montana Public Service Commission. She formerly worked as a staff attorney for the PSC and the Montana Consumer Counsel.
