Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 129

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 into law. PGE continues to pursue multiple areas under the IIJA, and other state and federal programs, for potential grant funding of projects. These projects target improvements in electrical system reliability and resiliency, wildfire situational awareness and mitigation, greater communications capabilities, advancements in customer usage analytics using artificial intelligence, renewable resources and advanced electrical grid support, hydro generation operations, hydrogen production, and regional transmission capacity constraints. 

As of March 31, 2025, PGE has been associated with the submission of 42 grant applications as the recipient or Sub-recipient and has been awarded 16 grants totaling $319 million, including the following:

•U.S. DOE Bethel-Round Butte Transmission Line Upgrade—The U.S. DOE selected the CTWS, with PGE as a subrecipient under the grant, for a $250 million grant to upgrade the existing 230 kV Bethel-Round Butte Transmission Line to 500 kV. The U.S DOE and the CTWS, as the prime recipient, entered into a Cooperative Agreement on August 13, 2024. Subsequently the CTWS entered into a subrecipient agreement with PGE on December 1, 2024. These agreements memorialize the funding and scope for the multiyear transmission line upgrade. See “Transmission Upgrades” in this Overview for further discussion.

•U.S. DOE Grid Edge Devices—The U.S. DOE selected and subsequently entered into an agreement on October 1, 2024 with PGE leading a consortium for a $50 million grant for the Grid Edge Devices project. 

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The project will enable real-time information at each meter to improve the visibility of the electrical system to grid operators, providing detection of potential operational problems and shorten outage times, ultimately helping to anticipate and mitigate the impacts of extreme weather on grid resiliency.

As of March 31, 2025, PGE has incurred an immaterial amount of costs associated with its Federal grants and continues to assess the impacts of these federal grants on the Company’s financial position and results of operations. A series of Presidential executive orders were recently issued related to energy and environmental policies. These orders could lead to delays, reviews, and potential terminations or modifications of grants. PGE is analyzing these executive orders to understand their potential impact on grant funding, and associated work that was originally required as a part of certain Community Benefits Plans. As of March 31, 2025, the grants disclosed above continue to be executed. Although PGE continues to apply