Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 157

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 157
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 Company purchases and sells electricity in the wholesale market. To fuel its generation portfolio, the Company purchases natural gas in the United States and Canada and sells excess gas back into the wholesale market. PGE also performs portfolio management and wholesale market sales services for third parties in the region and purchases and sells environmental credits bundled with electricity in the wholesale marketplace. 

The Company participates in the California Independent System Operator's (CAISO) western Energy Imbalance Market (EIM), which enables, among other benefits, greater integration of renewable energy onto the grid by better balancing the variable output of renewable resources. 

PGE signed an implementation agreement and filed tariff changes with the FERC to join the CAISO’s Extended Day-Ahead Market (EDAM), which is expected to build on the success of the western EIM and help provide the Company and its customers access to more affordable, reliable, and clean energy. In August 2025, the FERC approved PGE’s revisions to its Open Access Transmission Tariff for EDAM participation. In September 2025, the California Legislature approved Assembly Bill 825 (the Pathways Bill), authorizing the CAISO to transition market governance, including the EDAM, to an independent regional organization.

The EDAM, anticipated to begin operation in 2026, will allow market participants to submit bids for their forecasted energy demand and available generation resources a day ahead of expected use. The EDAM will then optimize transmission and resource use across all market participants, enabling access to the lowest-cost resources to meet regional needs. The EDAM is expected to leverage PGE’s existing technology and systems and utilize the Company’s transmission system to connect regional resources, such as hydropower and wind facilities in the Pacific Northwest and solar facilities in California and the desert Southwest, across a unified market platform. 

Given significant uncertainties in key elements of the Western Resource Adequacy Program (WRAP)—including program structure, reliability metrics, and technological readiness—planning for the first binding season has become more challenging. As a result, PGE has notified the Western Power Pool of its intent to withdraw from the WRAP. 

As part of its ongoing commitment to reliably serving both retail and wholesale customers, PGE is evaluating alternatives to participation as a financially binding entity in the WRAP. While PGE continues to support the regional planning and analytical framework established by the WRAP, the Company is also in collaboration with utilities committed to the EDAM to develop and adopt a resource adequacy framework that enhances reliability, is aligned more closely with the ED