1. (1) As used in this section, “electric or natural gas company” means any entity that is a public utility that is engaged in the business of distributing electricity or natural gas to retail customers in this state.

2. (2)

   1. (a) The Public Utility Commission shall establish rules requiring an electric or natural gas company to establish a multiyear rate plan for rate revisions that subject an electric or natural gas company’s return on equity to review or modification.

   2. (b) The rules must:

      1. (A) Include procedural and content requirements for a multiyear rate plan.
      2. (B) Require an electric or natural gas company to file a multiyear rate plan on a regular interval that is no less than three and no more than seven years long.
      3. (C) Establish a limit on the number of electric or natural gas companies that are allowed to request a rate increase in any given year.

   3. (c) The rules may:

      1. (A) Provide for incentives for efficient utility operations.
      2. (B) Authorize refunds to customers under certain circumstances.
      3. (C) Allow an electric or natural gas company, or third party, to request an exception to a requirement established by rule under this section on a showing of good cause.
3. (3) The provisions of this section do not allow for cost recovery that is not permitted under ORS 757.355.

Note: 757.217 and 757.218 were added to and made a part of ORS chapter 757 by legislative action but were not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.

[2025 c.503 §7]