(1) Notwithstanding any other law, people’s utility districts and municipal electric utilities may enter into transactions with other persons or entities for the production, supply or delivery of electricity on an economic, dependable and cost-effective basis, including financial products contracts and other service contracts that reduce the risk of economic losses in the transactions. This subsection does not authorize any transaction that:

Terms Used In Oregon Statutes 261.348

  • district: means an incorporated people's utility district, created under the provisions of this chapter. See Oregon Statutes 261.010
  • Utility: means a plant, works or other property used for development, generation, storage, distribution or transmission of electricity, or development or transmission of water for domestic or municipal purposes, but transmission of water shall not include water for irrigation or reclamation purposes, except as secondary to and when used in conjunction with a hydroelectric plant. See Oregon Statutes 261.010

(a) Constitutes the investment of surplus funds for the purpose of receiving interest or other earnings from the investment; or

(b) Is intended or useful for any purpose other than the production, supply or delivery of electricity on a cost-effective basis.

(2) Nothing in subsection (1) of this section prohibits a people’s utility district or a municipal electric utility from entering into any transaction for the acquisition, construction, improvement or equipping of a renewable energy facility or for the purchase or sale of electricity, electrical capacity or renewable energy certificates. [1999 c.683 § 1; 2007 c.301 § 40; 2007 c.895 § 11]

 

261.348 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS Chapter 261 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

 

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