Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 190

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 190
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 to PGE under a 20-year agreement.

The agreements related to Clearwater and all BESS agreements represent the final procurement from the 2021 All-Source RFP. Resources required to meet the remaining 2030 need are anticipated to be procured through future acquisition processes, including, but not limited to, the 2023 and 2025 All-Source RFPs and future RFPs. 

The BESS facilities qualify for federal investment tax credits (ITCs). The agreements related to Clearwater qualify for production tax credits (PTCs) and are eligible under Oregon’s Renewable Portfolio Standard (RPS). These projects are estimated to produce approximately $262 million in combined ITC and PTC benefits over time on behalf of customers.

2023 All-Source RFP

PGE filed notice with the OPUC in January 2023 that an RFP was needed to procure resources to meet forecasted capacity shortfalls and to make continued progress toward decarbonization targets under HB 2021. These actions were consistent with the 2023 IRP Action Plan. PGE filed the draft 2023 All-Source RFP with the OPUC in May 2023 and regulatory approval was granted in January 2024. The Company issued the 2023 All-Source RFP to market in February 2024, seeking bids for resources that can provide non-emitting dispatchable capacity and renewable generation. 

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After a robust and competitive bidding process performed in accordance with Oregon's competitive bidding rules, and with the active participation of, and oversight by, an OPUC-selected third-party independent evaluator, on September 17, 2024, PGE submitted a request for acknowledgement of the final shortlist of bidders to the OPUC. The final shortlist was acknowledged by the OPUC, with conditions, on November 19, 2024.

Following passage of  House Resolution 1, the One Big Beautiful Bill Act (OBBB), on July 4, 2025, PGE provided an opportunity for all conforming 2023 RFP bidders to refresh their pricing to capture the impacts of the new legislation and recent trade tariffs. Evaluation of refreshed bids, including updates to bid scoring and ranking, was performed in collaboration with an OPUC-selected third-party independent evaluator.

On October 1, 2025, PGE submitted a regulatory filing to the OPUC requesting acknowledgement of an updated final shortlist of bidders for the 2023 RFP to meet PGE’s