Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 66

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 5 4 %Wholesale1,979 2,179 (9)Total7,807 7,752 1 %

Three Months Ended March 31, 20252024Average number of retail customers:Residential837,109 88 %824,23988 %Commercial114,191 12 112,86912 Industrial216 — 204— Direct access589 — 514— Total952,105 100 %937,826 100 %

Total retail energy deliveries for the three months ended March 31, 2025 increased 4.6% compared with the three months ended March 31, 2024, driven by an increase in industrial deliveries. The first quarter of 2025 contained one fewer delivery day due to leap year in 2024.

Residential weather-adjusted deliveries saw average usage per customer 2.5% lower during the first three months of 2025 compared with 2024, while the average number of residential customers was 1.6% greater. PGE has seen the number of rooftop solar installations increase in its service territory over the past few years, and continued funding of energy efficiency programs, both of which weigh on average usage per customer. 

The industrial class continues to show growth in energy deliveries, up 16.4% in the three months ended March 31, 2025 compared to the same period in 2024, reflecting strength in the high-tech manufacturing and digital services sectors. 

49

The following table indicates the number of heating degree-days for the three months ended March 31, 2025 and 2024, along with the current 15-year averages based on weather data provided by the National Weather Service, as measured at Portland International Airport:

Heating Degree-days20252024Avg.January725 759 703 February613 539 597 March434 457 519 Year-to-date1,772 1,755 1,819 (Decrease) from the 15-year average(3)%(4)%

During the three months ended March 31, 2025 compared to the same three months of 2024, weather had a modest positive impact on Total Retail deliveries. While temperatures were slightly above average during the first quarters of both 2025 and 2024, the number of heating degree-days recorded in 2025 were 3% below average compared to 4% below in the same period of