Oregon Statutes 757.483 – Condemnation or acquisition of service territory or property of electric company by electric utility; stranded costs obligation
(1) For purposes of this section:
Terms Used In Oregon Statutes 757.483
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(a) ‘Electric company’ has the meaning given that term in ORS § 757.600.
(b) ‘Electric utility’ has the meaning given that term in ORS § 757.600.
(c) ‘Retail electricity consumer’ has the meaning given that term in ORS § 757.600.
(2) Upon the request of an electric company, the Public Utility Commission shall establish a stranded costs obligation payable by an electric utility to an electric company in association with a condemnation or transaction described in subsection (3) of this section.
(3)(a) An electric utility that condemns the service territory or property of an electric company, or acquires property pursuant to a transaction described in ORS § 757.480, must pay the stranded costs obligation established by the commission under subsection (2) of this section.
(b) The purpose of the stranded costs obligation is to prevent shifting the costs associated with the loss of service territory or property of an electric company from the retail electricity consumers of the electric utility to the retail electricity consumers of the electric company.
(4) The commission may determine the stranded costs obligation in accordance with the Federal Energy Regulatory Commission’s current methodology for determining stranded costs under the same or similar circumstances.
(5) This section does not interfere with or supersede the jurisdiction of the Federal Energy Regulatory Commission. [2016 c.28 § 18]