Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 215

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 2
Chunk 215
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 mechanisms.

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

Three Months Ended Six Months Ended June 30, 2024$97 $192 Regulatory and professional services costs(5)— Employee compensation and benefits— 6 Customer related costs(5)(12)Amortization of COVID-19 bad debt expense deferral(6)(6)Business transformation and optimization expenses14 14 Miscellaneous expenses1 (2)June 30, 2025$96 $192 Change in Administrative and other$(1)$— 

In the table above, for the three and six months ended June 30, 2025, respectively, $4 million and $8 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 $17 million and $36 million in the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024. The increases were primarily due to higher utility plant balances.

Taxes other than income taxes increased $5 million and $4 million in the three and six months ended June 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.

Interest expense, net increased $5 million and $10 million in the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, primarily due to higher long-term debt balances.

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Other income, net decreased $2 million and $3 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024. The decreases were primarily driven by lower pension and Other Post Employment Benefits non-service costs.

Income tax expense increased $5 million and $14 million in the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, primarily driven by lower PTC benefits resulting from the expiration of the 10-year PTC generation window at Tucannon near the end of 2024.

Critical Accounting Policies and Estimates

There have been no material changes to the Company’s critical accounting policies and estimates as previously disclosed in Item 7 of the