Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 191

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 2
Chunk 191
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 31, 20252024Sources of energy (MWhs in thousands):PURPA purchased power:Hydro10 11 Wind4 5 Solar96 91 Waste, Wood, and Landfill Gas25 28 Total135 135 

The following table presents the forecast April-to-September 2025 and actual 2024 runoff at particular points of major rivers relevant to PGE’s hydro resources: 

Runoff as a Percent of Normal*Location2025 Forecast2024 ActualColumbia River at The Dalles, Oregon90 %74 %Mid-Columbia River at Grand Coulee, Washington91 74 Clackamas River at Estacada, Oregon90 91 Deschutes River at Moody, Oregon103 93 

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* Volumetric water supply forecasts and historical averages for the Pacific Northwest region are prepared by the Northwest River Forecast Center, with the Natural Resources Conservation Service and other cooperating agencies.

Actual NVPC for the three months ended March 31, 2025 increased compared to the same period in 2024 as follows (in millions): 

Three Months Ended March 31, 2024$229 Purchased power and fuel expense (105)Wholesale revenues76 2021 PCAM deferral amortization(4)RCE deferral72 March 31, 2025$268 Change in NVPC$39 

For further information regarding NVPC in relation to the PCAM, see “Purchased power and fuel expense” and “Revenues” within this “Results of Operations” for more details. 

For the three months ended March 31, 2025 and 2024, actual NVPC was $6 million and $19 million below baseline NVPC, respectively. 

Based on forecast data, NVPC for the year ending December 31, 2025 is currently estimated to be below the baseline and outside the deadband. Pursuant to the PCAM and related earnings test, because PGE’s preliminary regulatory ROE is estimated to be below 10.34%, there is no estimated refund to customers expected under the PCAM for 2025.

Generation, transmission, distribution increased as follows for the three months ended March 31, 2025 compared to the same period in 2024 (in millions):

Three Months Ended March 31, 2024$99 Vegetation management, inspection, wildfire mitigation, and distribution maintenance expenses7 Service restoration and