HB 4077
Authorizes a public utility, upon approval by the Public Utility Commission, to issue bonds and securitize debt for costs and expenses incurred or to be incurred by the public utility associated with a self-insurance or captive insurance program.
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Sign in to take actionPublic sentiment
Support
33%
Oppose
67%
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill allows Oregon public utilities, with approval from the Public Utility Commission, to borrow money and sell debt to finance insurance costs. Specifically, it enables them to issue bonds and securitize debt related to self-insurance or captive insurance programs. The bill amends existing law to define key terms related to this process, such as ‘rate recovery assets’ and ‘financing costs.’ It will take effect 91 days after the end of the legislative session.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Arguments in favor
Reasons to support this legislation.
Supporters of the proposal believe that allowing utilities to securitize costs associated with Commission-approved self-insurance or captive insurance programs would provide a vital tool for protecting customer bills and ensuring affordability. By doing so, this approach could help mitigate the financial burden on ratepayers, particularly during periods of high demand or unexpected expenses. This measure is seen as a crucial step towards maintaining affordability and promoting long-term sustainability in the utility sector, with proponents arguing that it would enable utilities to better manage risks and invest in infrastructure while keeping costs stable for consumers.
Source: Testimony Summaries
Arguments opposed
Reasons to oppose this legislation.
Opponents of HB 4077 express concerns that the proposed energy conservation program may unfairly target vulnerable populations, such as low-income individuals and those with disabilities, who are currently exempt from uniform Pacific Gas & Electric (PGE) bills. They argue that these groups may be disproportionately affected by the program's requirements, potentially exacerbating existing economic and social disparities. Additionally, critics contend that PGE's non-uniform billing structure, which allows some customers to opt for renewable energy sources at a premium rate, creates an uneven playing field and undermines the program's intended benefits.
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