Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 84

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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 24 Solar207 209 507 496 Waste, Wood, and Landfill Gas23 32 77 91 Total242 253 629 635 

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The following table presents the actual April-to-September 2025 and actual 2024 runoff at particular points of major rivers relevant to PGE’s hydro resources: 

Runoff as a Percent of Normal*Location2025 Actual2024 ActualColumbia River at The Dalles, Oregon77 %74 %Mid-Columbia River at Grand Coulee, Washington78 74 Clackamas River at Estacada, Oregon69 91 Deschutes River at Moody, Oregon93 93 

* Volumetric water supply forecasts and historical averages for the Pacific Northwest region are prepared by the Northwest River Forecast Center, with the Natural Resources Conservation Service and other cooperating agencies.

Actual NVPC for the three and nine months ended September 30, 2025 increased compared to the same periods in 2024 as follows (in millions): 

Three Months Ended Nine Months Ended September 30, 2024$188 $593 Purchased power and fuel expense (21)(105)Wholesale revenues56 143 2021 PCAM deferral amortization2 (11)RCE deferral11 90 September 30, 2025$236 $710 Change in NVPC$48 $117 

For further information regarding NVPC in relation to the PCAM, see “Purchased power and fuel expense” within this “Results of Operations” for more details. 

For the three months ended September 30, 2025 and 2024, actual NVPC was $15 million above and $35 million below baseline NVPC, respectively. For the nine months ended September 30, 2025 and 2024, actual NVPC was $3 million and $87 million below baseline NVPC, respectively.

Based on forecast data, NVPC for the year ending December 31, 2025 is currently estimated to be below the baseline and within the deadband. Accordingly, there is no estimated refund to customers expected under the PCAM for 2025.

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Generation, transmission and distribution decreased as follows for the three and nine months ended September 30, 2025 compared to the same periods in 2024 (in millions):

Three Months Ended Nine Months Ended September 30, 2024$131 $337 Generating facility