Table of Contents
Table of Contents 2
List of Tables 8
Company Snapshot 9
Key Information 9
Company Overview 9
SWOT Snapshot 9
Operational Metrics 10
Portland General Electric Co, Operational Metrics, By Capacity 10
Portland General Electric Co, Operational Metrics, By Generation 10
Portland General Electric Co, Operational Metrics, By Transmission 11
Portland General Electric Co, Operational Metrics, By Distribution 11
Portland General Electric Co, Operational Metrics, By Customers 11
Portland General Electric Co, Operational Metrics, By Segmental Information 11
Portland General Electric Co, Operational Metrics, By Sales 11
Portland General Electric Co, Wind Farms 13
Portland General Electric Co, Wind Farms, United States 13
Portland General Electric Co, Solar PV Parks 14
Portland General Electric Co, Solar PV Parks, United States 14
Portland General Electric Co, Hydro Power Plants 16
Portland General Electric Co, Hydro Power Plants, United States 16
Portland General Electric Co, Biopower Plants 17
Portland General Electric Co, Biopower Plants, United States 17
Portland General Electric Co, Thermal Power Plants 18
Portland General Electric Co, Thermal Power Plants, United States 18
Portland General Electric Co, Commercial Reactors 19
Portland General Electric Co, Commercial Reactors, United States 19
Business Description 20
Business Overview 20
Major Products and Services 21
History 22
SWOT Analysis 26
Overview 26
Portland General Electric Co Strengths 26
Power Purchase Agreements 26
Diverse Generation Base 26
Market Position 26
Portland General Electric Co Weaknesses 27
Increasing Debt 27
Power Outages 27
Portland General Electric Co Opportunities 27
Expansion Initiatives 27
Prospective Growth in Demand for Electricity: the US 27
Integrated Resource Plan 27
Portland General Electric Co Threats 27
Weather Conditions 27
Environmental Laws and Regulations 28
Transmission and Distribution Network Security 28
Financial Ratios – Capital Market Ratios 29
Financial Ratios – Annual Ratios 29
Financial Ratios – Interim Ratios 31
Key Employees 32
Key Employee Biographies 33
Company Statement 34
Locations And Subsidiaries 36
Head Office 36
Other Locations & Subsidiaries 36
Financial Deals Landscape 37
Portland General Electric Co, Deals Summary 37
Portland General Electric Co, Power, Deal Details 38
Asset Transactions 38
Portland General Electric Invests USD500 Million In Tucannon River Wind Farm in Washington, US 38
Portland General Electric Acquires Lower Snake River Wind Farm II In Washington, US From Puget Sound Energy 39
Portland General Electric To Invest US$455 Million In Natural Gas Fired Power Plant Near Boardman, UK 40
Portland General Electric And Oregon Department of Transportation Completes Project Financing For Baldock Solar Station In Oregon, US 41
Debt Offering 42
Portland General Electric to Raise USD150 Million in Private Placement of 3.98% Bonds Due 2047 42
Portland General Electric Raises USD75 Million in Private Placement of 3.98% Bonds Due 2048 43
Recent Developments 44
Portland General Electric Co – Recent Developments 44
Aug 08, 2018: City of Portland, PSU, PGE and MIT partnering on first-ever emergency preparedness hub 44
Oct 25, 2017: Organic Valley introduces new solar partnership to be 100% renewably powered by 2019 44
Apr 22, 2016: Nest Expands Energy Business to More Than 50 Energy Providers; Nest Thermostat Rebates and Rewards Available to 30 Percent of U.S. Homes 46
Mar 27, 2014: PGE Resource Plan Lays Groundwork for Energy Future 47
May 31, 2013: Eaton Collaborates PGE To Power Smart Grid Demonstration Project In US 48
Mar 11, 2013: PGE To Begin Negotiations For Additional Renewable Power Resources 48
Jan 14, 2013: PGE And BPA Sign MoU To Pursue Modification To Proposed Cascade Crossing Transmission Project 48
Aug 10, 2011: BPA To Upgrade California-Oregon Intertie 49
Feb 17, 2011: PGE And BPA Agree To Discuss Mutual Interests In Transmission Projects 49
Aug 24, 2010: Ford Motor And PGE Team Up To Prepare Oregon For EVs 50
Aug 05, 2010: PGE And NEC Open North America’s First Public-Use Quick-Charge Station For EVs 50
Aug 03, 2010: PGE And PacifiCorp Sign MoU To Open Discussions On Joint Development Of Cascade Crossing Transmission Project 51
Mar 02, 2010: PGE plans for 2.4MW solar project in the Pacific Northwest 51
Mar 02, 2010: Portland General Electric Rolls Out Another Rooftop Solar Project With ProLogis, Increasing Its Total Solar Energy Capacity To More Than 12MW 51
Oct 14, 2008: PGE Announces Solar Project In Pacific Northwest 52
Apr 23, 2008: PGE Issues RFP To Secure Renewable Power 53
Sep 14, 2006: NorthWestern Energy And Partners Announce Transmission Upgrade Efforts 53
Jul 15, 2010: PGE Starts Electricity Generation From Final Phase Of Biglow Canyon Wind Farm 53
Jul 27, 2018: Portland General Electric Announces Second Quarter 2018 Results 54
Apr 27, 2018: Portland General Electric Announces First Quarter 2018 Results 55
Feb 16, 2018: Portland General Electric reports 2017 financial results and initiates 2018 earnings guidance 57
Oct 27, 2017: Portland General Electric Announces Third Quarter 2017 Results 60
Jul 28, 2017: Portland General Electric Announces Second Quarter 2017 Results 62
Apr 28, 2017: Portland General Electric Announces First Quarter 2017 Results 65
Feb 17, 2017: Portland General Electric Reports 2016 Financial Results and Initiates 2017 Earnings Guidance 67
Oct 28, 2016: Portland General Electric Announces Third Quarter 2016 Results 69
Aug 03, 2016: Portland General Electric Announces Second Quarter 2016 Results 72
Apr 29, 2016: Portland General Electric Announces First Quarter 2016 Results 74
Feb 12, 2016: Portland General Electric Reports 2015 Financial Results and Initiates 2016 Earnings Guidance 76
Oct 26, 2015: Portland General Electric Announces Third Quarter 2015 Results 79
Jul 28, 2015: Portland General Electric Announces Second Quarter Results 81
Apr 28, 2015: Portland General Electric Announces First Quarter Results 83
Feb 18, 2015: Portland General Electric Declares Dividend 84
Feb 13, 2015: Portland General Electric Reports 2014 Financial Results and Initiates 2015 Earnings Guidance 84
Jan 16, 2015: Portland General Electric Schedules Earnings Release and Conference Call for Friday, February 13 85
Oct 28, 2014: Portland General Electric Announces Third Quarter Results 85
Oct 23, 2014: Portland General Electric Declares Dividend 87
Jul 29, 2014: Portland General Electric Announces Second Quarter Results 87
Jul 24, 2014: Portland General Electric Declares Dividend 89
May 07, 2014: Portland General Electric Increases Dividend 89
Apr 29, 2014: Portland General Electric Announces First Quarter Results 89
Feb 19, 2014: Portland General Electric Declares Dividend 91
Feb 14, 2014: Portland General Electric Reports 2013 Financial Results and Initiates 2014 Earnings Guidance 91
Nov 01, 2013: Portland General Electric Announces Third Quarter Results 93
Oct 30, 2013: Portland General Electric Declares Dividend 94
Oct 01, 2013: Portland General Electric Schedules Earnings Release and Conference Call for Friday, November 1 95
Aug 02, 2013: Portland General Electric Announces Second Quarter Results 95
Jul 31, 2013: Portland General Electric Declares Dividend 96
May 01, 2013: Portland General Electric Reports Revenue Of $473m In Q1 2013 97
Feb 22, 2013: Portland General Electric Reports Revenue Of $1.8 Billion In 2012 98
Nov 08, 2012: Portland General Electric Reports Revenue Of $450m In Q3 2012 100
Aug 07, 2012: Portland General Electric Reports Revenue Of $413m In Q2 2012 101
May 03, 2012: Portland General Electric Reports Revenue Of $479m In Q1 2012 102
Feb 24, 2012: Portland General Electric Reports Revenue Of $1.8 Billion In 2011 103
Nov 03, 2011: PGE Reports Revenue Of $439m In Q3 2011 105
Aug 05, 2011: PGE Reports Net Revenues Of $411m In Q2 2011 106
May 05, 2011: Portland General Electric Reports Net Revenues Of $484m In Q1 2011 107
Feb 25, 2011: Portland General Electric Reports Net Revenues Of $1.7 Billion In 2010 108
Oct 28, 2010: Portland General Electric Reports Net Revenues Of $464 Million In Q3 2010 109
Aug 05, 2010: Portland General Electric Reports Net Revenues Of $415 Million In Q2 2010 110
May 04, 2010: Portland General Electric Reports Net Income Of $27 Million In Q1 2010 110
Feb 25, 2010: Portland General Electric Reports Net Income Of $95 Million In 2009 112
Oct 29, 2009: Portland General Electric Reports Net Income Of $31 Million In Q3 2009 113
May 04, 2009: Portland General Electric Reports Net Income Of $24 Million In Q1 2009 114
Feb 25, 2009: Portland General Electric Reports 2008 Results 116
Feb 19, 2009: Portland General Electric Declares Quarterly Dividend 118
Oct 30, 2008: PGEC Declares Nine Months 2008 Results 118
Oct 30, 2008: PGEC Declares Quarterly Dividend 118
Aug 07, 2008: PGEC Declares 2Q 2008 Results 119
Aug 06, 2008: PGEC Declares Quarterly Dividend 120
May 07, 2008: PGEC Declares Quarterly Dividend 121
May 05, 2008: PGEC Declares Q1 2008 Results 121
Feb 26, 2008: PGEC Declares Q4 2007 Results 122
Feb 20, 2008: PGEC Declares Quarterly Dividend 125
Nov 01, 2007: PGEC Declares Q3 2007 Results 125
Oct 25, 2007: PGEC Declares Quarterly Dividend 126
Aug 02, 2007: PGEC Declares Quarterly Dividend 126
Jul 30, 2007: PGEC Declares Q2 2007 Results 127
May 02, 2007: PGEC Declares Quarterly Dividend 128
Apr 30, 2007: PGEC Declares Q1 2007 Results 128
Mar 01, 2007: PGEC Declares Quarterly Dividend 130
Mar 01, 2007: PGEC Declares Q4 2006 Results 130
Aug 16, 2018: PGE releases latest annual sustainability report 132
Jul 31, 2018: PGE Settles Contractor Disputed New Gas-Fired Power Plant 132
May 22, 2018: PGE Seeks 100 Average Megawatts of New Renewable Resources 132
Mar 01, 2018: Successful Torrefied Biomass Test Burn at a Coal Power Plant 133
Feb 27, 2018: PGE Continues to Lead the Charge on Electric Transportation with New Plan 133
Dec 21, 2017: OPUC Approves PGE Price Changes for 2018 133
Nov 01, 2017: PGE submits storage plan to Oregon Public Utilities Commission 134
Oct 24, 2017: PCI Provides Integrated Platform for Portland General Electric Company’s Participation in Western Energy Imbalance Market 135
Oct 18, 2017: Western EIM benefits remained strong during Q3 2017 135
Oct 02, 2017: Portland General Electric joins western Energy Imbalance Market 136
Aug 30, 2017: Portland agrees to sell hydroelectric power to PGE for undisclosed amount 136
Jul 28, 2017: PGE Announces CEO Succession Plan 136
Jun 28, 2017: PGE Receives Approval From Oregon PUC To Sell Oil Storage Tanks 137
Jun 03, 2017: Construction Begins On Gas Pipeline From Mist To Port Westward 137
May 12, 2017: PGE Suspends Permitting Processes for New Power Plant Sites 137
Mar 14, 2017: Utilities Overwhelmingly Select FirstFuel for Business Customer Engagement in 2016 138
Nov 15, 2016: PGE files Integrated Resource Plan with Public Utility Commission 138
Oct 03, 2016: NW Natural Receives Notice To Proceed On Its North Mist Expansion Project 139
Aug 16, 2016: DRA Files Federal Lawsuit to Enforce Clean Water Act 140
Mar 02, 2016: Oregon Legislature Sets New Renewable Energy Standards 140
Dec 21, 2015: PGE Assumes Control of Carty Generating Station Construction 141
Dec 17, 2015: Infomart Portland Receives Approval for Direct Access Power Service 141
Dec 16, 2015: OPUC Approves PGE Price Changes for 2016 142
Dec 07, 2015: DEQ fines PGE for air quality violation in Clatskanie 142
Nov 23, 2015: Portland General Electric Formalizes Agreement to Join EIM 142
Aug 14, 2015: PGE to implement Willamette River sediment cleanup near Tilikum Crossing Bridge 143
Jul 27, 2015: DEQ to hold public hearing August 25 on air quality permit for operation of gas-fired power plant near Boardman 143
Feb 06, 2015: NW Natural To Proceed With North Mist Expansion Project Permitting 143
Jan 20, 2015: Lucid Energy Announces Portland Water Pipeline Now Producing Renewable Energy for PGE Customers 144
Jan 15, 2015: Wind-integrating power plant supplied by Wartsila now operational in Oregon, USA 144
Jan 02, 2015: New PGE Plant Will Help Balance Renewables and Meet Peak Demand for Customers 145
Dec 18, 2014: RES Americas Announces Completion of 267 MW Washington Wind Project 145
Dec 15, 2014: PGE Announces Completion of Tucannon River Wind Farm 146
Jun 05, 2014: PGE begins construction of natural gas-fired power plant in Boardman, Oregon 146
Aug 02, 2013: Portland General Electric Restarts Boardman Coal-fired Power Plant In Oregon 147
Jul 16, 2013: PGE Expects To Spent About $12m On Repair Of Two Coal-fired Power Plants 147
Jun 12, 2013: RES Americas To Construct Phase II Of Lower Snake River Wind Project In US 147
Jun 04, 2013: PGE Announces New Wind Farm in SE Washington 148
Mar 05, 2013: PGE To Hold Open Houses On Cascade Crossing Transmission Project 148
Feb 22, 2013: PGE Names Jim Lobdell As CFO 148
Feb 15, 2013: PGE Asks OPUC To Review Customer Prices 149
Jan 24, 2013: Constellation Energy Completes 5.7 MW Solar Generation Project For PGE 149
Nov 26, 2012: PGE Provides Update On RFP Response For Renewable Generating Resources 149
Oct 01, 2012: PGE Issues RFP For New Renewable Resources 150
Sep 10, 2012: PGE Reports On Response To RFP For New Generating Resources 150
Aug 23, 2012: Montana PSC Sponsors Energy Transmission Forum 151
Aug 20, 2012: PGE Launches Process To Pre-qualify Bidders For Upcoming Demand Response RFP 151
Jul 25, 2012: Sierra Club And MEIC To Initiate Lawsuit Against Colstrip Coal-fired Power Plant 152
Jul 03, 2012: PGE Seeks Input On Draft RFP For New Renewable Resources 152
Jun 08, 2012: PGE Issues Request For Proposals For Electric Power Generating Resources 152
Feb 27, 2012: PGE To Hold Open Houses On Cascade Crossing Transmission Project 153
Jan 12, 2012: BPA And PGE Continue Discussing Potential Collaboration On Cascade Crossing Transmission Project 153
Dec 30, 2011: Electric Rates To Change In 2012 For PacifiCorp And PGE Customers: Oregon PUC 154
Dec 29, 2011: Idaho Power Files Cost Plan On Boardman Power Plant Shutdown 154
Nov 15, 2011: Nanosolar And EDF Energies Nouvelles Commission Solar Projects Totaling 6 MW Capacity In France And US 155
Sep 14, 2011: Advanced Energy Announces SEGIS Technology Demonstration 155
Aug 23, 2011: PGE And ODOT Commence Construction On 1.75 MW Solar Highway Project 155
Jul 19, 2011: PGE Reports Progress In Implementation Of Boardman Power Plant Emissions Reduction Strategy 156
Jul 19, 2011: Shorter-Term Scheduling Boosts Flexibility Of Western Energy Markets: BPA 157
Jul 06, 2011: PGE And RTP Controls Offer New Energy Partner Demand Response Program To Business Customers 157
Apr 14, 2011: PGE Appoints Bill Nicholson As Senior Vice President 158
Mar 02, 2011: PGE To Host Open House On Upcoming Projects In Boardman Area, Oregon 158
Dec 17, 2010: Oregon PUC Issues Decision On PGE’s General Rate Case For 2011 159
Dec 15, 2010: Nissan Delivers Oregon’s First Electric Nissan LEAF 159
Dec 09, 2010: Oregon EQC Adopts DEQ Proposal For Shutdown Of Portland General Electric’s Boardman Power Plant 160
Dec 03, 2010: DEQ Proposes Revisions To Air Pollution Control Rules For PGE’s Boardman Coal-Fired Power Plant In Oregon, US 160
Nov 19, 2010: Oregon PUC Acknowledges PGE’s 2009 Integrated Resource Plan 161
Oct 13, 2010: Eaton Selects Wilsonville As Key Site For Electric Vehicle DC Quick Charger 162
Sep 29, 2010: PGE Withdraws Waiver Request For Rock Creek Wind Farm In Gilliam County, Oregon 162
Sep 09, 2010: 450-MW Wind Farm Online in Oregon 163
Sep 08, 2010: PGE Announces Completion Of Biglow Canyon Wind Farm 163
Aug 31, 2010: Oregon DEQ To Open Comment Period On Proposed Emission Controls For PGE’s Coal-Fired Power Plant In Boardman, US 164
Jul 26, 2010: PGE Completes Installation Of $14 Million Solar Project In US And Brings It Online 164
Jun 28, 2010: PGE Responds To DEQ Emissions Control Options For Boardman Plant 164
Jun 28, 2010: DEQ Provides Draft Proposal For Early Shutdown Of PGE’s Boardman Power Plant 165
Jun 17, 2010: OEQC Denies PGE Petition To Revise Boardman Plant Pollution Controls 166
May 18, 2010: OEQC To Hear DEQ’s Recommendation On PGE’s Request To Revise Boardman Plant’s Pollution Controls 166
Apr 09, 2010: PGE Files Revised Resource Plan With OPUC Seeking Closure Of Boardman Power Plant By 2020 166
Apr 02, 2010: PGE Seeks DEQ To Allow Early Closure Of Coal-Fired Boardman Power Plant In Oregon 167
Mar 12, 2010: PV Powered Announces Installation Of Inverters At 2.4MW Project In Portland, Oregon 168
Mar 02, 2010: PGE plans for 2.4MW solar project in the Pacific Northwest 168
Feb 16, 2010: Portland General Electric Asks OPUC To Review Its Costs Of Providing Service 169
Jan 27, 2010: Seko’s Portland Facility Installs 31 kW Solar Voltaic System 169
Jan 14, 2010: Portland General Electric Informs OPUC Its Alternative Operating Plan For Boardman Coal-Fired Power Plant 170
Jan 06, 2010: Portland General Electric Applies To Oregon’s DEQ For Air Contaminant Discharge Permit 170
Aug 20, 2009: Portland General Completes Second Phase Of Biglow Canyon Wind Farm In Sherman County, Oregon 170
Jul 17, 2009: Portland General Electric Appoints Four New Vice Presidents 171
Jun 18, 2009: Portland General Electric Appoints Kirby A. Dyess To Its Board 172
Jun 18, 2009: Portland General Updates On Biglow Canyon Wind Farm 172
Apr 15, 2009: Portland General Electric Completes Smart Metering Systems Testing And Moves Forward For Their Installation Territory-Wide 173
Apr 01, 2009: TransAlta, Portland General Electric Agree To Cut Mercury And Haze Pollution From Their Coal-Fired Power Plants 173
Dec 29, 2008: PGEC Announces Senior Management Appointments 173
Dec 12, 2008: Solarcity Installs 100 kW Electric PV System At Intel’s Jones Farm 4 Campus In Hillsboro 174
Nov 24, 2008: PGE Completes Decommissioning Of Trojan Nuclear Plant 174
Oct 14, 2008: ProLogis Agrees To Lease Roof Space To PGEC For Construction Of Multiple PV Systems 175
Dec 21, 2007: PGE Starts Operations Of Biglow Canyon Wind Farm 175
Oct 15, 2007: PGEC Updates On Biglow Canyon Wind Farm 175
Jul 11, 2007: PGEC To Focus On Renewables 176
Feb 27, 2007: PGEC Appoints New Board Member 177
Aug 16, 2018: Portland General Electric Governor Replacement Project 177
Mar 08, 2018: PGE inks power purchase agreement with BPA 178
Apr 21, 2015: Linde switches to wind-generated electricity for a significant portion of load at Oregon air separation plant 178
Sep 25, 2013: Wartsila inks service agreement with PGE for Port Westward power plant in US 179
Aug 20, 2013: Siemens receives major U.S. wind order 179
Jun 04, 2013: Abengoa Selected By PGE To Develop 440 MW Combined Cycle Power Plant In US 179
Feb 04, 2013: Wartsila To Supply Generating Sets For Port Westward Unit 2 Plant In Oregon 180
Jun 18, 2012: Shaw To Install Emissions Reduction Equipment At Boardman Station In Oregon 180
Jan 04, 2012: PGE Issues Draft RFP For Electric Power Generating Resources 180
Apr 21, 2011: PGE Issues Draft RFP For New Electric Power Resources 181
Jan 25, 2011: PGE Seeks Independent Evaluator For Power Proposals 181
Jan 19, 2011: Nalco Mobotec Signs Contract With PGE For Mercury Emission Control At Boardman Station In Boardman, Oregon, US 182
Sep 21, 2010: enXco Signs Power Purchase Agreements With PGE For Solar PV Installations 182
Mar 03, 2010: ECD Announces 2.4MW Rooftop Solar Project In Portland 183
Nov 25, 2009: EnerDel Enters Utility Energy Storage Market, Will Supply New DOE-Backed Smart Grid Program 183
May 12, 2009: Emerson Wins Contract To Install Ovation SCADA System At PGE’s Biglow Canyon Wind Farm 184
Oct 14, 2008: SIT Receives Contract To Install BIPV Roofing Systems At Solar Project In Pacific Northwest 184
Apr 03, 2008: PGEC To Buy Turbines From Siemens For Biglow Canyon Wind Project Expansion 185
Apr 03, 2008: Siemens Wins Order From PGE For Wind Turbines 186
Appendix 187
Report Scope 187
GlobalData Coverage 187
Benchmarking 187
GlobalData’s Methodology 187
Secondary Research 187
Primary Research 188
Contact Us 188
Disclaimer 188
Portland General Electric Co, Key Facts 9
Portland General Electric Co, Operational Metrics, Capacity 10
Portland General Electric Co, Operational Metrics, Generation 10
Portland General Electric Co, Operational Metrics, Transmission 11
Portland General Electric Co, Operational Metrics, Distribution 11
Portland General Electric Co, Operational Metrics, Customers 11
Portland General Electric Co, Operational Metrics, Segmental Information 11
Portland General Electric Co, Operational Metrics, Sales 11
Portland General Electric Co, Wind Farms, United States 13
Portland General Electric Co, Solar PV Parks, United States 14
Portland General Electric Co, Hydro Power Plants, United States 16
Portland General Electric Co, Biopower Plants, United States 17
Portland General Electric Co, Thermal Power Plants, United States 18
Portland General Electric Co, Commercial Reactors, United States 19
Major Products and Services 21
Portland General Electric Co, SWOT Analysis 26
Portland General Electric Co, Ratios based on current share price 29
Portland General Electric Co, Annual Ratios 29
Portland General Electric Co, Interim Ratios 31
Portland General Electric Co, Key Employees 32
Portland General Electric Co, Other Locations 36
Portland General Electric Co, Deals Summary 37
Portland General Electric Invests USD500 Million In Tucannon River Wind Farm in Washington, US 38
Portland General Electric Acquires Lower Snake River Wind Farm II In Washington, US From Puget Sound Energy 39
Portland General Electric To Invest US$455 Million In Natural Gas Fired Power Plant Near Boardman, UK 40
Portland General Electric And Oregon Department of Transportation Completes Project Financing For Baldock Solar Station In Oregon, US 41
Portland General Electric to Raise USD150 Million in Private Placement of 3.98% Bonds Due 2047 42
Portland General Electric Raises USD75 Million in Private Placement of 3.98% Bonds Due 2048 43
