ORS 757.135¹
Closing accounts and filing balance sheet
  • rules
  • auditing accounts

(1) Except as provided in subsection (2) of this section, the accounts required under ORS 757.120 (Accounts required) and 757.125 (Duty of utility to keep records and accounts) shall be closed annually on December 31 and a balance sheet of that date promptly taken therefrom. On or before a date prescribed by the Public Utility Commission by rule, such balance sheet, together with such other information as the commission shall prescribe, verified by an officer of the public utility, shall be filed with the commission.

(2) If a public utility maintains its accounts and records on a fiscal year basis, the accounts required by ORS 757.120 (Accounts required) and 757.125 (Duty of utility to keep records and accounts) shall be closed annually on the last day of the fiscal year and a balance sheet shall be promptly taken from those accounts. On or before the first day of the fourth month following the end of the public utility’s fiscal year, the balance sheet together with such information as the commission shall prescribe must be verified by an officer of the public utility and filed with the commission. The commission may require that a public utility filing information at the time specified in this subsection also file with the commission on a calendar year basis such additional information as may be prescribed by the commission.

(3) The commission may examine and audit any account. Items shall be allocated to the accounts in the manner prescribed by the commission. [Amended by 1983 c.540 §4; 2001 c.733 §1; 2013 c.96 §2]

Chapter 757

Notes of Decisions

Under regulatory scheme, Public Utility Commissioner has authority to promulgate rule limiting telephone company’s liability for directory listing errors or omissions. Garrison v. Pacific NW Bell, 45 Or App 523, 608 P2d 1206 (1980)

Refund is proper exercise of Public Utility Commission’s general powers if refund (1) is based only on in­for­ma­­tion in existence at time of rate order for which refund is being made; (2) is not based on evalua­tion of public utility’s actual expenses or revenues; and (3) is not effectuated by offsetting future rates. Gearhart v. Public Utility Commission, 255 Or App 58, 299 P3d 533 (2013), aff’d 356 Or 216, 339 P3d 904 (2014)

Atty. Gen. Opinions

Authority of Governor and Public Utility Commissioner to enter into binding agree­ments with respect to uniform curtail­ment plans, (1977) Vol 38, p 861

1 Legislative Counsel Committee, CHAPTER 757—Utility Regulation Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors757.­html (2019) (last ac­cessed May 16, 2020).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 757, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano757.­html (2019) (last ac­cessed May 16, 2020).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information