Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 15

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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, 2025December 31, 2024CurrentNoncurrentCurrentNoncurrentRegulatory assets:Price risk management$83 $60 $115 $70 Pension and other postretirement plans— 84 — 84 Trojan decommissioning activities— 162 — 161 February 2021 ice storm and damage13 43 14 44 January 2024 storm and damage— 46 — 46 Reliability contingency events— 95 — 90 2020 Labor Day wildfire5 18 6 18 Wildfire mitigation44 — 43 — Other19 125 27 119 Total regulatory assets$164 $633 $205 $632 Regulatory liabilities:Asset retirement removal costs$— $1,210 $— $1,199 Deferred income taxes— 174 — 179 Clearwater RAC41 4 — 40 Other40 24 53 22 Total regulatory liabilities$81 *$1,412 $53 *$1,440 * Included in Accrued expenses and other current liabilities in the condensed consolidated balance sheets. January 2024 storm and damage—Beginning January 13, 2024, the Company’s service territory encountered a severe winter weather event that included snow, ice, and high winds over several days that caused catastrophic damage to physical assets and resulted in widespread customer power outages. As a result of the historic winter storm, Oregon’s Governor declared a state of emergency on January 18, 2024, which allows PGE to seek recovery of incremental storm expenses through the OPUC pre-authorized emergency deferral mechanism, subject to the application of an earnings test. On February 9, 2024, PGE filed a Notice of Deferral with the OPUC, under Docket 

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Table of ContentsPORTLAND GENERAL ELECTRIC COMPANYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS, continued(Unaudited)

UM 2190, related to the emergency restoration costs for the January storm, and through March 31, 2025 the Company had deferred $46 million, including interest, under the deferral. PGE's 2024 preliminary regulated return on equity, based on actual results, did not exceed the OPUC's authorized rate. PGE believes the full amounts deferred as of March 31, 2025 are probable of recovery under the