OAR 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.