Company: POR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000784977-25-000012
Chunk: 102

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 102
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 natural gas imports, reviewing agency actions that burden domestic energy resources, pausing disbursement of federal funding, streamlining permitting processes, and declaring a national emergency to expedite energy projects, particularly on the West Coast.

PGE is analyzing these executive orders to understand their potential impact on grant funding, which include Diversity, Equity, and Inclusion and Community Benefits Plans, and potential supply tariffs, including natural gas used as fuel that is imported from Canada. PGE plans to collaborate with industry groups to engage with the administration when appropriate, while closely monitoring the implementation and legal challenges arising from these executive orders. The Company is unable to predict the outcome of executive orders or the impact they may have on its financial position, results of operations, or cash flows.

Federal Grants—In November 2021, the $1.2 trillion IIJA, which includes approximately $550 billion of new federal spending, was signed into law. PGE continues to pursue multiple areas under the IIJA, and other state and federal programs, for potential grant funding of projects. These projects target improvements in electrical system reliability and resiliency, wildfire situational awareness and mitigation, greater communications capabilities, advancements in customer usage analytics using artificial intelligence, renewable resources and advanced electrical grid support, hydro generation operations, hydrogen production, and regional transmission capacity constraints. 

As of December 31, 2024, PGE has been associated with the submission of 42 grant applications as the Prime or Sub-recipient/Supporter and has been awarded 10 grants totaling $315 million, including the following:

•U.S. DOE Bethel-Round Butte Transmission Line Upgrade—The U.S. DOE selected the CTWS, with PGE as a subrecipient under the grant, for a $250 million grant to upgrade the existing 230 kV Bethel-Round Butte Transmission line to 500 kV. The US DOE and CTWS, as the prime recipient, entered into a Cooperative Agreement on August 13, 2024. Subsequently CTWS entered into a subrecipient agreement with PGE on December 1, 2024. These agreements memorialize the funding and scope for the multiyear line upgrade. See “Transmission Upgrades” in this Overview for further discussion.

•U.S. DOE Grid Edge Devices—The U.S. DOE selected and subsequently entered into an agreement on October 1, 2024 with PGE leading a consortium for a $50 million grant for the Grid Edge Devices project. The project will enable real-time information at each meter