You didn't build it!
You didn't break it! You shouldn't have to pay for it!
In 1978, Oregonians overwhelming passed a statutory initiative
prohibiting electric and telephone utilities from charging ratepayers
for utility plant or equipment not providing service to customers. Measure
90 repeals this law and allows private utility rates to include profits
on retired utility property not providing service.
Vote No on 90
Oregon state courts have interpreted the 1978 statutory initiative as prohibiting
private utility rates that include a "return on" or profit on plants or
equipment not providing service. Measure 90 would overturn these state
court decisions and allow Enron/PGE to collect from ratepayers $304 million
in profit on the abandoned Trojan Nuclear Plant.
Vote No on 90
Measure 90 would apply retroactively to all retired utility property. It
would enable the Public Utility Commission to reward electric and telephone
utilities for failure by forcing ratepayers to pay for utility property
no longer in service, just like Trojan.
Vote No on 90
When stockholders invest in the common stock of utilities, they elect management
and share in the rewards of good decision making and bear the costs of
bad decision making. That's the way it's supposed to be. Measure 90 turns
this on its head by forcing utility ratepayers to pay for mismanagement
while rewarding stockholders for failure. Measure 90 forces ratepayers
to become stockholders against their will.
Vote No on 90
For far too long electric utilities have had their way with the Legislature
and the Public Utility Commission. Again and again. public interest groups
have had to turn to the courts and Oregon's initiative and the referendum
process to protect ratepayers. The buck stops with you! The bottom line
is simple: You didn't build it! You didn't break it! You shouldn't have
to pay for it!
Vote No on 90
Lloyd Marbet
Pacific Green Party candidate for Secretary of State
www.marbet.org (503) 637-3549