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Officials warn lawmakers utility insolvency, wildfire liability and reinsurance pressures threaten investments and affordability
Summary
PUC and industry witnesses told the Senate committee that utilities’ financial instability raises borrowing costs, slows investment, risks renegotiation of contracts in bankruptcy, and could shift costs to ratepayers; co‑op insurers reported sharp reinsurance cost increases that threaten coverage availability.
A panel including the Oregon Public Utility Commission’s legislative affairs director, a former California PUC commissioner, a market analyst and representatives of electric cooperatives told the Senate Interim Committee on Energy and Environment that financial stress at investor‑owned utilities and rising wildfire liability could slow investments, increase rates and in extreme cases lead to bankruptcy processes that weaken state policy control.
Laura Taber, legislative affairs director for the Oregon Public Utility Commission, explained the mechanics regulators use to set rates — reviewing forecasted operating costs, capital investments for prudency and setting a return on equity — and…
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