Or. Admin. R. 860-038-0100 - Auction Process
(1)
Each electric company must follow the process provided in sections (2) and (3)
of this rule for all generating resources, or portions thereof, that it intends
to sell pursuant to the Resource Plan, unless it presents to the Commission,
and the Commission approves, an alternative process.
(2) The auction process will be the process
adopted by the Commission in Order No. 99-765, except that affiliates of the
electric company may participate in the auction as eligible buyers, in which
case the auction will be subject to such requirements to assure independent
decision making as the Commission may determine.
(3) Unless otherwise provided in the Resource
Plan, the electric company shall not begin its auction process until the
Commission issues a final order valuing all of the electric company's Oregon
share of generating resources pursuant to a process to be established by
rule.
(4) Notwithstanding section
(3) of this rule, the electric company may, at its option, immediately auction
all or a portion of generating resources identified by the Commission as exempt
from section (3) of this rule. Any such auction will be subject to ORS
757.480 and OAR
860-027-0025.
(5) The electric
company shall recover through the transition balancing account the costs of an
auction process, including but not limited to the reasonable costs of
investment bankers and other advisors.
Notes
Stat. Auth.: ORS 183, 756 & 757
Stats. Implemented: ORS 756.040 & 757.600 - 757.667
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