Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 27

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 is dependent upon the magnitude of the price change and PGE’s position as either the buyer or seller under the contract. Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:Significant Unobservable InputPositionChange to InputImpact on Fair ValueMarket priceBuyIncrease (decrease)Gain (loss)Market priceSellIncrease (decrease)Loss (gain)

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Table of ContentsPORTLAND GENERAL ELECTRIC COMPANYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS, continued(Unaudited)

Changes in the fair value of net liabilities from price risk management activities (net of assets from price risk management activities) classified as Level 3 in the fair value hierarchy were as follows (in millions):Three Months Ended June 30, Six Months Ended June 30, 2025202420252024Balance as of the beginning of the period$39 $43 $34 $45 Net realized and unrealized losses/(gains)*(5)2 4 — Transfers from Level 3 to Level 2(3)— (7)— Balance as of the end of the period$31 $45 $31 $45 * Both realized and unrealized losses/(gains), of which the unrealized portions are offset by the effects of regulatory accounting until settlement of the underlying transactions, are recorded in Revenues, net or Purchased power and fuel expense in the condensed consolidated statements of income and comprehensive income. Amounts include $3 million and $2 million net realized gains for the three months ended June 30, 2025 and 2024, respectively. For the six-month periods ended June 30, 2025 and 2024, amounts include $4 million in net realized gain and $1 million in net realized gains, respectively.Transfers out of Level 3 occur when the significant inputs become more observable, such as when the time between the valuation date and the delivery term of a transaction becomes shorter. Long-term debt is recorded at amortized cost in PGE’s condensed consolidated balance sheets. The value of the Company’s Long-term debt is classified as a Level 2 fair value measurement. As of June 30, 2025, the carrying amount of PGE’s long-term debt was $4,731 million, net of $15 million of unamortized debt expense, and its estimated aggregate fair value was $4,251 million. As of December 31,