Company: POR
Filing Date: 2025-06-18
Form Type: 8-K
Source: 0000784977-25-000110
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Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-06-18
Form: 8-K
Item: Item 8.01
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Item 8.01 Other Events.

On June 18, 2025, Portland General Electric Company (PGE or the Company) submitted a regulatory filing to the Public Utility Commission of Oregon (OPUC) to provide additional forecasts and update its 2023 Clean Energy Plan (CEP) and Integrated Resource Plan (IRP), as directed in OPUC Order 24-096, dated April 18, 2024. An Update addresses specific inputs that may have changed since the most recent IRP was acknowledged, without attempting to fully revise the IRP. This CEP/IRP Update refreshes the analysis filed with the 2023 CEP/IRP and provides status reports on actions and requirements from Order 24-096.

The CEP/IRP Update identified a new Preferred Portfolio as a result of the refreshed analysis. PGE is not proposing any changes to the Action Plan that was acknowledged within the 2023 CEP/IRP, which supports the Company's progress toward emissions targets and Preferred Portfolio resource need procurement through the 2025 All-Source Request for Proposals (RFP). This approach represents the best combination of cost, risk, community benefit, and decarbonization.

To better distinguish resource needs, the CEP/IRP Update reports the capacity from hybrid solar and battery storage resources by individual technology. This reporting change increases the stated need of the 2023 CEP/IRP Action Plan from a range of 2,700 to 3,700 megawatts (MW), with a 3,200 MW midpoint, to an updated range of 3,500 to 4,500 MW (4,000 MW midpoint) of renewable energy and non-emitting capacity, inclusive of 2023 RFP projects, which remain under negotiation.

The actions summarized in the CEP/IRP Update will also serve as an important tool in furthering conversations with all stakeholders, and the OPUC, on PGE’s path forward to making continued progress towards emission targets while continuing to serve customers safely, reliably, and at the lowest cost possible. PGE and parties will work through the regulatory review process for the CEP/IRP Update filing (OPUC Docket LC 80) during the coming months. PGE cannot predict the ultimate outcome of the regulatory process.

Background

In March 2023, PGE filed with the OPUC its first combined IRP and CEP. The CEP articulates the Company’s strategy to make continued progress towards the