Bill > SB688

This bill establishes a framework for performance-based regulation of electric utilities in Oregon, aimed at incentivizing electric companies to improve their operations and align with public interest goals. The bill defines key terms like "distributed energy resources" (small-scale energy systems located behind-the-meter) and "anthropogenic gases" (including greenhouse gases like carbon dioxide and methane). The Public Utility Commission is authorized to develop a regulatory approach that creates performance standards and metrics for electric companies, with the goal of reducing emissions, expanding renewable energy resources, improving electricity service reliability, offering flexible payment plans for low-income customers, and reducing overall costs. The framework must include clear, objective performance metrics, identify mechanisms for meeting standards, and establish incentives or penalties based on an electric company's performance. The commission is required to consider the potential impact of these incentives and penalties on ratepayer costs. Additionally, the bill provides an additional $974,013 to the Public Utility Commission to investigate and develop this performance-based regulatory framework. The bill emphasizes broader public interest objectives such as greenhouse gas reduction, energy efficiency, grid reliability, and equitable service for all customers.