Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 200

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 2
Chunk 200
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 PGE submitted with the OPUC to request recovery of the revenue requirement associated with the Seaside Battery Energy Storage System (Seaside). The regulatory filing is pursuant to the expedited cost-recovery option introduced by the OPUC in its Order issued December 20, 2024 related to PGE's 2025 General Rate Case (OPUC Docket UE 435) and would allow PGE the opportunity to recover its revenue requirement for Seaside outside of a general rate case while balancing the interests of customers and PGE.

As a part of the filing, PGE requests that the Seaside tracker be authorized for inclusion in customer prices by October 31, 2025. PGE entered into a memorandum of understanding with intervenors, which establishes the scope of recovery mechanisms for both the Seaside BESS and the DSP. The Company is committed to continuing to collaborate with key stakeholders and providing safe, reliable service at the lowest possible cost for customers.

PGE’s request for recovery includes an annualized revenue requirement increase of $46 million, cost of capital figures based on OPUC approved amounts in UE 435, which included a 9.34% return on equity, and a rate base increase of $257 million, net of estimated Investment Tax Credit benefits of $117 million.

PGE and parties will work through the regulatory review process for the Seaside tracker filing (OPUC Docket UE 455) during the coming months. PGE cannot predict the ultimate outcome of the regulatory process. 

New Large Load—In December 2023, the OPUC established Docket UE 430 to investigate new load connection costs. Following a lengthy regulatory process, in December 2024, PGE filed Advice No. 24-38 with the OPUC. This filing introduced several proposed changes to PGE policies and tariffs that, if approved, would: i) reasonably protect other customers from the cost to connect new large load customers; ii) improve transmission system planning and capacity; iii) provide fair recovery of distribution investment costs from large load users; and iv) implement contractual requirements designed to appropriately allocate and recover distribution and transmission costs and mitigate the risk of stranded assets, while providing flexibility to meet large customer needs.

On April 15, 2025, the OPUC approved PGE's filing, as revised, with an effective date of April 16, 2025, on condition that the issues raised in the filing would be addressed in a new Commission docket, UM 2377. This allowed PGE to begin