Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 103

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 in a net regulatory liability of $40 million, which began amortizing as a refund to customers on March 1, 2025 over a twelve month period, as approved in OPUC Order 25-075 issued February 21, 2025. For the period of January 1, 2025 through February 28, 2025, PGE deferred an additional net $7 million regulatory liability, which remains subject to a future regulatory review, representing the deferred revenue requirement that PGE believes is probable of recovery, net of NVPC that is probable of refund to customers under the RAC for that period. The OPUC has significant discretion on overall prudence and in making the final determination of recovery or refund. Any cost disallowance or increased refunds would be recognized as a charge to earnings.

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

Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consist of the following (in millions):June 30, 2025December 31, 2024Accrued employee compensation and benefits$65 $80 Accrued taxes payable29 36 Accrued interest payable53 49 Accrued dividends payable60 57 Regulatory liabilities—current72 53 Margin deposits from wholesale counterparties5 5 Other155 130 Total accrued expenses and other current liabilities$439 $410 Credit FacilitiesOn September 10, 2024, PGE entered into an amendment of its existing revolving credit facility that extended the scheduled expiration into September 2029. As of June 30, 2025, PGE had a $750 million revolving credit facility that provides the Company the ability to expand to $850 million, if needed. Pursuant to the terms of the agreement, the revolving credit facility may be used for general corporate purposes, including as backup for commercial paper borrowings and to permit the issuance of standby letters of credit. PGE may borrow for one, three, or six months at a fixed interest rate established at the time of the borrowing, or at a variable interest rate for any period up to the then remaining term of the applicable credit facility. The revolving credit facility contains a provision that requires annual fees based on the Company’s unsecured credit ratings, and contains customary covenants and default provisions, including a requirement that limits consolidated indebtedness, as defined in the