Company: POR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000784977-25-000012
Chunk: 124

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 124
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4 compared to the year ended December 31, 2023 (in millions): 

Year ended December 31, 2023$773 Purchased power and fuel expense 314 Wholesale revenues(140)2024 RCE deferral(87)Year ended December 31, 2024860 Change in NVPC$87 

For further information regarding NVPC in relation to the PCAM, see “Power operations” in the Overview section of this Item 7. 

Generation, transmission and distribution expense increased $62 million or 17% for the year ended December 31, 2024 compared to the year ended December 31, 2023, with the change attributed largely to the following items (in millions): 

Year ended December 31, 2023$374 Vegetation management, inspection, wildfire mitigation, and distribution maintenance expenses33 Generation facility maintenance expenses driven by major maintenance activities and increased run hours31 Service restoration and storm response costs(5)Miscellaneous expenses3 Year ended December 31, 2024436 Change in Generation, transmission and distribution$62 

In the table above, $24 million related to vegetation management, $5 million related to wildfire mitigation, and $4 million related to major maintenance have been offset through customer prices or specific regulatory mechanisms.

Administrative and other expense increased $62 million, 18%, for the year ended December 31, 2024 compared to the year ended December 31, 2023 due largely to the following items (in millions):

Year ended December 31, 2023$341 Employee compensation including stock compensation and benefits expenses23 Regulatory and Professional service costs13 Customer related costs and bad debt expense11 Workers’ compensation and general liability insurance7 Amortization of COVID-19 bad debt expense deferral4 Miscellaneous expenses4 Year ended December 31, 2024403 Change in Administrative and other$62 

62

In addition to the $4 million related to amortization of COVID-19 bad debt expense deferral, another $2 million increase is due to other regulatory-related programs that have been offset through customer prices or specific regulatory mechanisms.

Depreciation and amortization expense increased $38 million or 8% for the year ended December 31, 2024 compared to year ended December 31, 2023, with the change largely resulting from the following items (in millions):

Year ended December 31, 202