Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 74

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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 and funding of energy efficiency programs continues. Customers also continue to respond with increased air conditioning saturation and utilization as the region has experienced cooling degree days well above the 15-year averages for the last five consecutive cooling seasons.

The industrial class continues to show growth as overall energy deliveries are up 15.2% in the nine months ended September 30, 2025 compared to the same period in 2024, reflecting strength primarily in the digital services sector. 

The following table indicates the number of heating and cooling degree-days for the three and nine months ended September 30, 2025 and 2024, along with the current 15-year averages based on weather data provided by the National Weather Service, as measured at Portland International Airport: 

Heating Degree-daysCooling Degree-days20252024Avg.20252024Avg.First Quarter1,772 1,755 1,819 4 — — Second Quarter464 547 606 102 108 109 July2 — 6 209 300 202 August— 4 4 277 224 231 September17 32 51 102 119 88 Third Quarter19 36 61 588 643 521 Year-to-date2,255 2,338 2,486 694 751 630 (Decrease)/Increase from the 15-year average(9)%(6)%10 %19 %

During the three months ended September 30, 2025 compared to the same three months of 2024, weather had a less positive impact on Total Retail deliveries as the Company’s service territory saw fewer heating and cooling degree-days than in 2024, although cooling degree-days continue to run well above average. While temperatures were above average during the third quarters of both 2025 and 2024, the number of cooling degree-days recorded in the third quarter of 2025 were 13% above average compared to 23% above in the same period of 2024. 

The Company’s cost-of-service opt-out program caps participation by customers in the fixed three-year and minimum five-year opt-out programs, which account for the majority of energy delivered to Direct Access customers who purchase their energy from ESSs. Had the cap limit been fully subscribed and utilized, 12% of PGE’s total retail energy deliveries for the first nine months of 2025 would have been to these customers. 

PGE offers service to customers under an OP