Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 98

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 deposits40 125 Other current assets$126 $238 

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

Electric Utility Plant, NetElectric utility plant, net consists of the following (in millions):     June 30, 2025December 31, 2024Electric utility plant in-service*$15,202 $14,863 Construction work-in-progress718 567 Total cost15,920 15,430 Less: accumulated depreciation and amortization(5,275)(5,085)Electric utility plant, net$10,645 $10,345 *The Seaside Battery Energy Storage System Project, with $340 million in CWIP as of June 30, 2025, was placed in-service on July 8, 2025.Accumulated depreciation and amortization in the table above includes accumulated amortization related to intangible assets of $649 million and $611 million as of June 30, 2025 and December 31, 2024, respectively. Amortization expense related to intangible assets was $19 million and $18 million for the three months ended June 30, 2025 and 2024, respectively, and $38 million and $36 million for the six months ended June 30, 2025 and 2024, respectively. The Company’s intangible assets primarily consist of computer software development and hydro licensing costs.Regulatory Assets and Liabilities Regulatory assets and liabilities consist of the following (in millions): June 30, 2025December 31, 2024CurrentNoncurrentCurrentNoncurrentRegulatory assets:Price risk management$100 $22 $115 $70 Pension and other postretirement plans— 84 — 84 Trojan decommissioning activities— 164 — 161 February 2021 ice storm and damage13 39 14 44 January 2024 storm and damage— 47 — 46 Reliability contingency events— 95 — 90 2020 Labor Day wildfire5 16 6 18 Wildfire mitigation44 — 43 — Other26 114 27 119 Total regulatory assets$188 $581 $205 $632 Regulatory liabilities:Asset retirement removal costs$— $1,221 $—