A. It is the public policy of this state to gain the benefits of securitization by establishing irrevocable financing charges that are payable to a qualified special purpose entity and by creating and vesting in the qualified special purpose entity a present and alienable property interest in the resulting financing revenues. Those benefits include reducing all of the following:

1. 1. The unrecovered cost of transition assets that are subject to potential retirement, abandonment, sale, disposition or transition or that have been damaged or destroyed, including associated liabilities.
2. 2. The costs arising from or related to weather, wildfire or other significant events or incidents that cause damage or destruction or that otherwise render inoperable, in whole or in part, any of the public power entity's assets, facilities or infrastructure that are in operation providing service for customers.