Company: POR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000784977-25-000012
Chunk: 7

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 7
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 customer (in dollars):$8,067 $7,133 $6,491 Usage per customer (in kilowatt hours):61,641 63,713 63,923 Revenue per kilowatt hour (in cents):13.09 ¢11.20 ¢10.15 ¢IndustrialRevenue per customer (in dollars):$1,627,956 $1,347,661 $1,156,371 Usage per customer (in kilowatt hours):24,702,680 23,052,538 22,097,472 Revenue per kilowatt hour (in cents):6.59 ¢5.85 ¢5.23 ¢

9

For additional information, see the Results of Operations section in Item 7.—“Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Residential customers include single family housing, multiple family housing (such as apartments, duplexes, and town homes), mobile homes, and small farms. Residential demand is sensitive to the effects of the weather and seasonal temperature changes lead to variations in both heating and cooling needs. Based on the climate in PGE’s service area, the heating season tends to span a longer time period while cooling needs, although robust, are reflected over a shorter span concentrated in the summer months of June through September.

Economic conditions can also affect residential demand as job growth and population increases in PGE’s service territory have led to customer growth. The COVID-19 pandemic introduced additional behavioral patterns that reflected the shift that occurred with respect to hybrid work schedules as residential customers spent more time at home, the impact of which has largely normalized in the last few years. Residential demand is also impacted by energy efficiency measures and increased rooftop solar penetration in the service territory. 

Commercial customers consist of non-residential customers who accept energy deliveries at voltages equivalent to those delivered to residential customers. This customer class includes most businesses, small industrial companies, and public street and highway lighting accounts. The Company’s commercial customer demand is somewhat less susceptible to weather conditions than residential customer demand. Economic conditions and fluctuations in total employment in the region can be indicative of changes in energy demand from commercial customers. Energy efficiency measures also impact commercial demand, as measures have focused on the commercial sector in recent years.

Industrial customers consist of non-residential customers who accept delivery at higher voltages than commercial customers. Demand from industrial customers is primarily driven by economic conditions, with weather having limited impact on this customer class. Strength in