Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 162

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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 retail prices for the following calendar year. Any shortfall is generally replaced with power from higher cost sources, while any excess generally displaces power from higher cost sources.

(3)Plant availability reflects Colstrip, which PGE does not operate.

(4)Plant availability includes Wheatridge Renewable Energy Facility and Clearwater, neither of which does PGE operate.

Energy received from PGE-owned and jointly-owned thermal plants during the nine months ended September 30, 2025 compared to 2024 increased 7%. This increase was primarily driven by fewer outages in 2025 as compared to 2024. Energy expected to be received from thermal resources is projected annually in the AUT based on forecast market prices, variable costs to run the plant, and the constraints of the plant. PGE’s thermal generating plants require varying levels of annual maintenance, which is generally performed during the second quarter of the year.

Total energy received from hydroelectric generation sources, both PGE-owned generation and purchased, increased 4% during the nine months ended September 30, 2025 compared to 2024 primarily due to more favorable hydro conditions in the current period. Energy purchased from mid-Columbia and other regional hydroelectric projects increased 5% while energy generated by the Company-owned facilities increased 1% during the nine months ended September 30, 2025. Energy expected to be received from hydroelectric resources is projected annually in the AUT based on a modified hydro study, which utilizes 10 years of historical stream flow data. See “Purchased power and fuel” in the Results of Operations section in this Item 2, for further detail on regional hydro results.

Energy received from PGE-owned and under contract wind resources decreased 11% during the nine months ended September 30, 2025 compared to 2024. Energy expected to be received from wind generating resources is projected annually in the AUT based on historical generation. Wind generation forecasts are developed using a 5-year rolling average of historical wind levels or forecast studies when historical data is not available.

Under the PCAM, the Company may share with customers a portion of cost variances associated with NVPC. Customer prices can be adjusted annually to absorb a portion of the difference between the forecasted NVPC included in customer prices (baseline NVPC) and actual NVPC for the year, if such differences exceed a prescribed “deadband” limit, which ranges from $15 million below to $30 million above baseline NVPC. To the extent actual 

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NVPC, subject to