Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 102

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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 — 84 Trojan decommissioning activities— 165 — 161 February 2021 ice storm and damage14 35 14 44 January 2024 storm and damage— 47 — 46 Reliability contingency events— 89 — 90 2020 Labor Day wildfire6 15 6 18 Wildfire mitigation46 — 43 — Other24 125 27 119 Total regulatory assets$207 $599 $205 $632 Regulatory liabilities:Asset retirement removal costs$— $1,233 $— $1,199 Deferred income taxes— 231 — 179 Clearwater RAC25 6 — 40 Other36 21 53 22 Total regulatory liabilities$61 *$1,491 $53 *$1,440 * Included in Accrued expenses and other current liabilities in the condensed consolidated balance sheets. January 2024 storm and damage—Beginning January 13, 2024, the Company’s service territory encountered a severe winter weather event that included snow, ice, and high winds over several days that caused catastrophic 

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Table of ContentsPORTLAND GENERAL ELECTRIC COMPANYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS, continued(Unaudited)

damage to physical assets and resulted in widespread customer power outages. As a result of the historic winter storm, Oregon’s Governor declared a state of emergency on January 18, 2024, which allows PGE to seek recovery of incremental storm expenses through the OPUC pre-authorized emergency deferral mechanism, subject to the application of an earnings test. On February 9, 2024, PGE filed a Notice of Deferral with the OPUC, under Docket UM 2190, related to the emergency restoration costs for the January storm, and through September 30, 2025 the Company had deferred $47 million, including interest, under the deferral. PGE believes the amounts deferred as of September 30, 2025 are probable of recovery under the emergency deferral mechanism, and no earnings test adjustment is necessary as PGE's 2024 regulated return on equity did not exceed the OPUC's authorized rate. The Company submitted a request for recovery on July 3, 2025. The OPUC has significant discretion in making the final determination of recovery, and their conclusion of overall prudence, including application of the