When hurricane, tornado, fire, or ice season comes, the first order of business is getting everyone to safety. then restoration begins.

It's not callous to think of the financial impacts, as with any storm restoration, there are many moving parts. If your system has a mutual aid electric crew assisting in cleanup, there are other complications. Eventually, these cleanup costs will need to be assessed for their rate impacts on your customers.

The use of regulatory accounting under both ASC 980 and GASB 62 is well suited for instances of major storm damage clean-up, i.e. snow, ice, hurricanes, tornados, fire. Here’s a common example of smoothing utility rates for recovery of uninsured storm damages.