Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 168

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 2
Chunk 168
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 project resources.

On December 12, 2024, Project 1 in Group A notified PGE that it was withdrawing from commercial negotiations. PGE continues to negotiate with the remaining Group A projects and aims to finalize contracts over the second half of 2025.

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RFP final shortlist projects were evaluated and selected based on conditions as of the final shortlist date and are subject to risks and uncertainties, including, but not limited to, regulatory processes, inflationary impacts, supply chain constraints, supply cost increases (including the application of trade tariffs), and legislative uncertainty.

Additional details of the 2023 RFP (OPUC Docket UM 2274) are available on the OPUC website at www.oregon.gov/puc.

Both the 2021 and 2023 RFPs were the subject of regulatory and legal challenges initiated by NewSun Energy LLC, focused on the scoring methodology of the RFPs and OPUC acknowledgement of the final shortlists. Two of NewSun’s challenges to the 2021 RFP were dismissed as moot in recent court decisions, although NewSun has indicated it will file further appeals. PGE has joined the proceedings as an intervenor, and the remaining challenges are in various stages of litigation or regulatory review. PGE cannot predict the outcome of these proceedings or potential impact, if any, on its 2021 and 2023 All-Source RFP process.

NewSun was an intervenor in the Clearwater RAC proceeding in Docket UE 427, in which the OPUC rejected NewSun’s proposals to change the RFP oversight process but adopted conditions proposed by OPUC staff on how PGE should recognize Clearwater’s capacity factor and transmission assumptions in its AUT and PCAM beginning in 2025. While PGE is seeking review of the OPUC’s February 21, 2025 order adopting the conditions, PGE cannot predict the outcome or potential impact, if any, on future RFP, AUT, or PCAM proceedings.

2025 All-Source RFP

PGE filed notice with the OPUC in November 2024 that an RFP in 2025 was needed to procure resources to meet a forecasted 2029 capacity shortfall and to make continued progress toward decarbonization targets under HB 2021. These actions were consistent with the 2023 IRP Action Plan and CEP. PGE filed the draft 2025 All-Source RFP on April 17, 2025.

Transmission Upgrades

In