(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:
(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]
Note: 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.Section: Previous 261.320 261.325 261.327 261.330 261.335 261.340 261.345 261.348 261.350 261.355 261.360 261.365 261.370 261.371 261.375 Next
Last modified: August 7, 2008