Today, the Oregon House of Representatives passed HB 2356, which bans the City of Portland from using its authority of condemnation in order to acquire electric utility property. Its purpose is to stop the City of Portland from acquiring PGE assets from Enron. |
"Legislators will surely regret voting for this," said Bill Michtom of the Oregon Public Power Coalition (OPPC), "as it could well enable Enron to sell its PGE assets out from under Oregon rate regulation, which appears to be Enron's plan in bankruptcy court." (A detailed explanation of that plan). "The result will likely be another $300 million annual rate increase on top of the $400 million annual rate increase PGE got from the Oregon Public Utility Commission (OPUC) less than 2 years ago."