Relating to electric utilities; appropriating money; and declaring an emergency.
Catchline/Summary:
Sets conditions and process for establishing public corporation to negotiate for purchase of investor-owned utility if purchase of controlling interest in utility is proposed. Sets conditions and process for establishing public corporation to negotiate for purchase of investor-owned utility if purchase of controlling interest in utility is proposed. Specifies conditions would include agreement of utility, Public Utility Commission and local governments in service area.
Permits cities and counties in service area to form acquisition review committees upon notification of proposed purchase of 50 percent or more of voting shares of utility. Establishes Oregon Community Power Utility Acquisition Fund and continuously appropriates moneys in fund to Public Utility Commission for purpose of transferring moneys to acquisition review committees to fund preliminary activities and negotiations. Specifies that cities and counties representing two-thirds of customers of utility must agree to negotiate for purchase and, if negotiations with utility are successful, to approve decision to apply to Public Utility Commission for acquisition of utility.
Requires Governor to activate public corporation, Oregon Community Power, if Public Utility Commission and regulatory agencies in other states served by utility approve public acquisition.
Provides for nominations and Governor appointment of Oregon Community Power board of directors. Specifies duties, functions and powers of board. Establishes duties, functions and powers of Oregon Community Power as public corporation, including authority to establish rates and to issue and sell revenue bonds. Gives Citizens' Utility Board of Governors standing to intervene in or obtain judicial review of proceedings affecting interests of utility customers.
Limits use of eminent domain to acquire incumbent utility unless utility consents to its use. Establishes provisions relating to taxation, direct access, electricity service suppliers, financing agreements and public purpose charges.
Declares emergency, effective on passage.
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SB 443
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