Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 85

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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 expenses(1)(7)Vegetation management, inspection, wildfire mitigation, and distribution maintenance expenses(5)9 Service restoration and storm response costs1 4 Business transformation and optimization expenses2 3 Earnings test deferral release(17)(17)Miscellaneous expenses1 7 September 30, 2025$112 $336 Change in Generation, transmission and distribution$(19)$(1)

In the table above, changes shown for the three and nine months ended include $(1) million and $2 million related to vegetation management, respectively, zero and $13 million related to wildfire mitigation, $3 million and $4 million related to major maintenance costs, and zero and $3 million related to storm response costs that have been offset through customer prices or specific regulatory mechanisms.

Administrative and other is as follows for the three and nine months ended September 30, 2025 compared to the same periods in 2024 (in millions):

Three Months Ended Nine Months Ended September 30, 2024$102 $294 Regulatory and professional services costs(1)(1)Employee compensation and benefits(3)4 Customer related costs(3)(14)Amortization of COVID-19 bad debt expense deferral(3)(10)Business transformation and optimization expenses7 21 Miscellaneous expenses— (3)September 30, 2025$99 $291 Change in Administrative and other$(3)$(3)

In the table above, for the three and nine months ended September 30, 2025, respectively, $1 million and $9 million of the decrease in customer related costs is due to regulatory programs that have been offset through customer pricing or specific regulatory mechanisms.

Depreciation and amortization expense increased $22 million and $58 million in the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024. The increases were primarily due to higher utility plant balances. Included in expense for 2025 is $1 million related to business transformation and optimization.

Taxes other than income taxes increased $3 million and $7 million in the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024. The increases were driven by higher property taxes and higher franchise fees, partially offset by lower payroll taxes.

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Interest expense, net increased $7 million and $17 million in the three and nine months ended September 30