PORTLAND GENERAL ELECTRIC CO

Portland General Electric Company (NYSE: PGE) operates as a vertically-integrated electric utility engaged in the generation, transmission, distribution, and retail sale of electricity throughout Oregon. The company's website is PortlandGeneral.com.

PGE serves approximately 960,000 retail customers across a 4,000 square mile service territory encompassing 51 incorporated cities in Oregon. The company operates as a single business segment with revenues derived from retail electricity sales, wholesale market activities, and other operating services. Retail revenues are generated from residential, commercial, and industrial customer classes, with residential customers representing approximately 48 percent of retail revenues, commercial customers 32 percent, and industrial customers 18 percent as of 2025.

The company's power supply portfolio consists of owned generation capacity and purchased power contracts totaling approximately 5,985 megawatts. Generation assets include five natural gas-fired plants, a 20 percent ownership stake in a coal-fired facility, two owned wind farms, and seven hydroelectric projects. PGE supplements its generation with long-term power purchase agreements for hydro, wind, solar, and biomass resources, as well as contracts with qualifying facilities under federal law. The company also operates approximately 522 megawatts of battery energy storage capacity.

PGE's transmission system spans 1,744 circuit miles of lines operating at or above 57 kilovolts and is integrated with the Western Interconnection regional grid. The company participates in wholesale electricity markets including the western Energy Imbalance Market and has committed to joining the California Independent System Operator's Extended Day Ahead Market.

As a regulated utility, PGE operates under the jurisdiction of the Public Utility Commission of Oregon, which determines retail customer prices based on forecasted costs and authorized rates of return. The company is also subject to federal regulation by the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission, and various environmental agencies. PGE's operations are guided by Oregon's renewable portfolio standards and clean energy targets requiring 80 percent greenhouse gas emissions reductions by 2030, with complete decarbonization by 2040.