Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 191

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 191
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 articulated resource needs, as shown in the table below:

2023 RFP Updated Final ShortlistProjectTechnologyStructure MWCompany-owned MW1Solar, BatteryBTA2502502Solar, BatteryHybrid(1)3651753BatteryBTA400400

(1) Hybrid commercial structure includes a PPA portion and a Company-owned portion via a build transfer agreement (BTA) for project resources

The Company has requested acknowledgement of the updated final shortlist by the end of the year to enable PGE to finalize contract negotiations, keep project costs as low as possible, make continued progress towards Oregon’s decarbonization goals and support system reliability needs as identified in the 2023 Integrated Resource Plan and Clean Energy Plan update. PGE is proceeding to commercial negotiations with bidders for projects on the updated final shortlist and expects finalization of contracts for projects that meet selection criteria by the end of 2025 or in the first quarter of 2026, with projects in service by the end of 2027.

The 2023 RFP is a component of PGE’s multi-pronged procurement approach focused on customer affordability, system reliability, and decarbonization. In parallel with the 2023 RFP, the Company is seeking additional renewable energy and non-emitting capacity through PPAs, including a bilateral all-call for PPAs, community-based renewable energy procurement, and the ongoing 2025 RFP process.

 The updated RFP final shortlist projects were evaluated and selected based on conditions as of the updated final shortlist date and are subject to risks and uncertainties, including, but not limited to, regulatory processes, inflationary impacts, supply chain constraints, supply cost increases (including the application of trade tariffs), securing of federal tax incentives and legislative uncertainty.

Additional details of the 2023 RFP (OPUC Docket UM 2274) are available on the OPUC website at www.oregon.gov/puc.

2025 All-Source RFP

PGE filed notice with the OPUC in November 2024 that an RFP in 2025 was needed to procure resources to meet a forecasted 2029 capacity shortfall and to make continued progress toward decarbonization targets under HB 2021. These actions were consistent with the 2023 IRP Action Plan and CEP Update. PGE filed the draft 2025 All-Source RFP on April 17, 2025. 

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Following the enactment of the OBBB and related executive orders in July 2025