Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 190

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 2
Chunk 190
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 Ended March 31, 2024$405 Average variable power cost per MWh(85)Total system load(20)2021 PCAM deferral amortization(4)RCE deferral72 March 31, 2025368 Change in Purchased power and fuel$(37)Average variable power cost per MWh:March 31, 2024$62.58 March 31, 2025$49.23 Total system load (MWhs in thousands):March 31, 20247,610March 31, 20257,543

For the three months ended March 31, 2025, the $85 million decrease related to the change in average variable power cost per MWh was driven by a 26% decrease in the average cost of purchased power and a less than 1% decrease in the average cost for the Company’s own generation. The $20 million decrease related to total system load was comprised of an 7% decrease of energy obtained from purchased power, offset by a 3% increase in the Company’s own generation.

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PGE’s sources of energy, total system load, and retail load requirement are as follows for the periods presented (MWhs in thousands):

Three Months Ended March 31, 20252024Generation:Thermal:Natural gas3,117 41 %3,028 40 %Coal533 7 526 7 Total thermal3,650 48 3,554 47 Hydro442 6 393 5 Wind599 8 590 8 Total generation4,691 62 4,537 60 Purchased power:Hydro1,748 23 1,564 21 Wind289 4 306 4 Solar174 2 147 1 Natural Gas— — 94 1 Waste, Wood, and Landfill Gas25 — 39 1 Source not specified616 9 923 12 Total purchased power2,852 38 3,073 40 Total system load7,543 100 %7,610 100 %Less: wholesale sales(1,979)(2,179)Retail load requirement5,564 5,431 

Purchased power in the table above includes power received from qualifying facilities under the Public Utility Regulatory Policies Act of 1978 (PURPA) as follows:

Three Months Ended March