Oregon SB1553 addresses wildfires caused by electric companies, prohibiting cost recovery from consumers and establishing a Wildfire Recovery Fund.

Oregon SB1553 aims to address wildfires resulting from the negligence or higher degree of fault on the part of an electric company. The bill prohibits electric companies from recovering certain litigation or settlement costs and expenses from retail electricity consumers if found liable for damages. It mandates the establishment of a qualified escrow fund for those found liable in civil actions. The bill also establishes the Wildfire Recovery Fund, with 60% of punitive damages from such cases deposited into it. The fund is intended to support wildfire recovery efforts.

Oregon SB1553 addresses wildfires caused by electric companies, prohibiting cost recovery from consumers and establishing a Wildfire Recovery Fund.

Oregon SB1553 aims to address wildfires resulting from the negligence or higher degree of fault on the part of an electric company. The bill prohibits electric companies from recovering certain litigation or settlement costs and expenses from retail electricity consumers if found liable for damages. It mandates the establishment of a qualified escrow fund for those found liable in civil actions. The bill also establishes the Wildfire Recovery Fund, with 60% of punitive damages from such cases deposited into it. The fund is intended to support wildfire recovery efforts.