Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 115

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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audited)

PGE’s Assets and Liabilities from price risk management activities consist of the following (in millions): September 30, 2025December 31, 2024Current assets:Commodity contracts:Electricity$14 $18 Natural gas2 14 Total current derivative assets (1)16 32 Noncurrent assets:Commodity contracts:Electricity— 1 Natural gas4 1 Total noncurrent derivative assets (1)4 2 Total derivative assets (2)$20 $34 Current liabilities:Commodity contracts:Electricity$16 $32 Natural gas117 115 Total current derivative liabilities133 147 Noncurrent liabilities:Commodity contracts:Electricity25 24 Natural gas18 48 Total noncurrent derivative liabilities43 72 Total derivative liabilities (2)$176 $219 (1) Total current derivative assets are included in Other current assets, and Total noncurrent derivative assets are included in Other noncurrent assets on the condensed consolidated balance sheets.(2) As of September 30, 2025 and December 31, 2024, no commodity derivative assets or liabilities were designated as hedging instruments.PGE’s net volumes related to its Assets and Liabilities from price risk management activities resulting from its derivative transactions, which are expected to deliver or settle at various dates through 2035 were as follows (in millions): September 30, 2025December 31, 2024Commodity contracts:Electricity— MWhs2 MWhsNatural gas224 Decatherms199 DecathermsForeign currency$15 Canadian$34 CanadianPGE has elected to report positive and negative exposures resulting from derivative instruments pursuant to agreements that meet the definition of a master netting arrangement gross on the condensed consolidated balance sheets. In the case of default on, or termination of, any contract under the master netting arrangements, such agreements provide for the net settlement of all related contractual obligations with a given counterparty through a single payment. These types of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, receivables and payables arising from settled positions, and other forms of non-cash collateral, 

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

such as letters of credit. As of September 30, 2025, gross amounts included as Price