Tells the PUC to look at the economic impact of a proposed rates if the rates lead to certain revenue results.

AMENDED: Directs the Public Utility Commission to look at the economic impact of a proposed residential rate or schedule of rates. Allows the PUC to adjust rates to mitigate an increase. Consider the cumulative economic impact of an electric or natural gas company’s proposed residential rate or schedule of rates. Requires an electric or natural gas company to file an analysis of the cumulative economic impact on the company’s residential rate payers if the company’s return on equity is subject to review and modification. Directs the commission to require an electric or natural gas company to establish a multiyear rate plan. Authorizes a public utility, upon approval by the commission, to issue bonds and securitize debt for costs and expense.

Ways & Means appropriated $463.653 to evaluate utility rate increases for electric and
natural gas providers.

This is like squeezing a balloon and not expecting it to pop. If residential customers have limits on the timing and the amount of their rate increases, it creates a situation where the difference in what a utility is authorized to recover from those customers will need to be collected or recovered from everyone else.

Natural gas rates have not been raise as much or as frequent as electric rates. Under this measure, it will make it harder for natural gas utilities to invest in the infrastructure needed to deliver reliable energy to Oregon’s hospitals and schools, and to operate and decarbonize their systems. The bill will harm customers by raising their rates, not lowering them. The bill requires utilities to carry more debt for longer periods, which will result in higher debt costs for customers and increased utility bills – contradictory to CUB’s mission to look out for the welfare of residential customers.

This is legislature making a problem, not solving anything.

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