A 2016 ballot initiative seeking to ramp up clean energy deployment has been filed with the secretary of state. Measure 64 requires electric utilities to eliminate all coal-fired resources from their electricity supply by 2030, or by December 31 in the year in which a coal-fired resource is fully depreciated, whichever is sooner. Measure 64 would also raise Oregon’s existing RPS for “large” utilities (i.e., PGE, PacifiCorp and EWEB) to the following levels:
- 22% for years 2020-2024 (up from the current level of 20%)
- 30% for years 2025-2029 (up from the current level of 25% by 2025)
- 40% for years 2030-2034
- 45% for years 2035-2039
- 50% for 2040 and thereafter
The initiative also defines a REC as a “unique representation of all environmental, economic, and social benefits associated with the generation of electricity from renewable energy resources that produce qualifying electricity,” and allows REC transactions to be conducted independently of transactions for the associated electricity. Current law allows RECs to be banked and carried forward indefinitely; the ballot initiative places a three-year limit on RECs issued after the effective date of the initiative.
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