Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 212

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 2
Chunk 212
---
 (18)2021 PCAM deferral amortization(2)(7)RCE deferral— 73 June 30, 2025294 662 Change in Purchased power and fuel$19 $(18)Average variable power cost per MWh (in dollars):June 30, 2024$40.10 $52.00 June 30, 2025$41.34 $45.40 Total system load (MWhs in thousands):June 30, 20246,77414,384June 30, 20257,09514,638

For the three months ended June 30, 2025, the $20 million increase related to the change in average variable power cost per MWh was driven by an 18% increase in the average cost of purchased power and a 12% decrease in the average cost for the Company’s own generation. The $1 million increase related to total system load was comprised of a 7% decrease of energy obtained from purchased power, offset by an 18% increase in the Company’s own generation.

For the six months ended June 30, 2025, the $66 million decrease related to the change in average variable power cost per MWh was driven by an 11% decrease in the average cost of purchased power and a 5% decrease in the average cost for the Company’s own generation. The $18 million decrease related to total system load was comprised of a 7% decrease of energy obtained from purchased power, offset by a 9% increase in the Company’s own generation.

58

PGE’s sources of energy, total system load, and retail load requirement are as follows for the periods presented (MWhs in thousands):

Three Months Ended June 30, Six Months Ended June 30, 2025202420252024Generation:Thermal:Natural gas2,279 32 %1,641 24 %5,396 37 %4,669 32 %Coal294 4 255 4 827 6 781 5 Total thermal2,573 36 1,896 28 6,223 43 5,450 37 Hydro328 5 345 5 770 5 738 5 Wind866 12 948 14 1,465 10 1,538 11 Total generation3,767 53 3,189