Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 107

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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 market funds— — — 7 7 Non-qualified benefit plan trust: (3)Debt securities—domestic government2 — — — 2 Paid Leave Oregon Trust:Money market funds— — — 4 4 Price risk management activities: (1) (4)Electricity— 18 1 — 19 Natural gas— 15 — — 15 $24 $46 $1 $11 $82 Liabilities:Price risk management activities: (1) (4)Electricity$— $25 $31 $— $56 Natural gas— 159 4 — 163 $— $184 $35 $— $219  (1)Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in Regulatory assets or Regulatory liabilities as appropriate.(2)Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.(3)Excludes insurance policies of $32 million, which are recorded at cash surrender value.(4)For further information, see Note 5, Risk Management.Cash equivalents are highly liquid investments with maturities of three months or less at the date of acquisition and primarily consist of money market funds. Such funds seek to maintain a stable NAV and are comprised of short-term, government funds. Policies of such funds require that the weighted average maturity of securities holdings of such funds not exceed 90 days and provide investors with the ability to redeem shares of the funds daily at their respective NAV. Cash equivalents are classified as Level 1 in the fair value hierarchy due to the availability of quoted prices for identical assets in an active market as of the measurement date. Principal markets for money market fund prices include published exchanges such as the National Association of Securities Dealers Automated Quotations (Nasdaq) and the New York Stock Exchange (NYSE).Assets held in the Nuclear decommissioning trust (NDT), NQBP trust, and Paid Leave Oregon trust are recorded at fair value in PGE’s condensed consolidated balance sheets and invested in securities that are exposed to interest rate, credit, and market volatility risks. These assets are classified within Level 1, 2, or 3 based on the following factors: Debt securities—PGE invests in highly-liquid United States Treasury securities to support the investment objectives of the trusts. These domestic government securities are classified as