Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 150

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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. PGE has a Petition for Judicial Review of Order 25-075 pending at the Oregon Court of Appeals. For the period of January 1, 2025 through February 28, 2025, PGE deferred an additional net $7 million regulatory liability, which remains subject to a future regulatory review, representing the deferred revenue requirement that the Company believes is probable of recovery, net of NVPC that is probable of refund to customers under the RAC for that period. The OPUC has significant discretion on overall prudence and in making the final determination of recovery or refund. Any cost disallowance or increased refunds would be recognized as a charge to earnings.

Seaside Grid BESS recovery - On May 30, 2025, PGE submitted with the OPUC to request recovery of the revenue requirement associated with the Seaside Battery Energy Storage System (Seaside). The regulatory filing is pursuant to the expedited cost-recovery option introduced by the OPUC in its Order issued December 20, 2024 related to PGE's 2025 General Rate Case (OPUC Docket UE 435) and would allow PGE the opportunity to recover its revenue requirement for Seaside outside of a general rate case while balancing the interests of customers and PGE.

As a part of the filing, PGE requests that the Seaside tracker be authorized for inclusion in customer prices by October 31, 2025. PGE entered into a memorandum of understanding with intervenors, which establishes the scope of recovery mechanisms for both the Seaside BESS and the DSP. The Company is committed to continuing to collaborate with key stakeholders and providing safe, reliable service at the lowest possible cost for customers.

PGE’s request for recovery includes an annualized revenue requirement increase of $46 million, cost of capital figures based on OPUC approved amounts in UE 435, which included a 9.34% return on equity, and a rate base increase of $257 million, net of estimated Investment Tax Credit benefits of $117 million.

PGE and parties will work through the regulatory review process for the Seaside tracker filing (OPUC Docket UE 455) during the coming months. PGE cannot predict the ultimate outcome of the regulatory process. 

New Large Load—In December 2023, the OPUC established Docket UE 430 to investigate new load connection costs. Following a lengthy regulatory process, in December 2024, PGE filed Advice No. 24-38 with the OPUC. This filing introduced