Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 140

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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 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, PGE continues to evaluate the potential impact of these federal tax credit changes on project economics and overall portfolio cost. Loss of tax credit availability could increase renewable project costs and corresponding customer prices. In response, PGE incorporated additional information requirements into the RFP to better assess tax credit eligibility, supply chain risks, and cost implications. Further detail on the federal policy changes and associated risks is provided in "The One Big Beautiful Bill Act” in the Laws and Regulations section of this Overview.

PGE received regulatory approval of the 2025 All Source RFP from the OPUC on July 22, 2025. The Company issued the RFP to market on July 31, 2025, seeking bids for resources that can provide non-emitting dispatchable capacity and renewable generation. Bids were submitted in October 2025 and are currently being evaluated based on the OPUC-approved scoring methodology. PGE plans to file for acknowledgement of a proposed final shortlist in the first quarter of 2026, allowing PGE to begin negotiations with shortlisted bids.

Legal Challenges to the RFP Process

Various regulatory and legal challenges directed at the OPUC have been initiated by NewSun Energy LLC, related to PGE’s RFP process. PGE has joined the proceedings as an intervenor, and the challenges are in various stages of litigation or regulatory review. PGE cannot predict the outcome of these proceedings or potential impact, if any.

NewSun was an intervenor in the Clearwater RAC proceeding in Docket UE 427, in which the OPUC rejected NewSun’s proposals to change the RFP oversight process, but adopted conditions on how PGE should recognize Clearwater’s capacity factor and transmission assumptions in its Annual Power