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 Company, Operational Metrics, By Capacity 10
Portland General Electric Company, Operational Metrics, By Generation 10
Portland General Electric Company, Operational Metrics, By Transmission 11
Portland General Electric Company, Operational Metrics, By Distribution 11
Portland General Electric Company, Operational Metrics, By Customers 11
Portland General Electric Company, Operational Metrics, By Segmental Information 11
Portland General Electric Company, Operational Metrics, By Sales 11
Portland General Electric Company, Wind Farms 13
Portland General Electric Company, Wind Farms, United States 13
Portland General Electric Company, Solar PV Parks 14
Portland General Electric Company, Solar PV Parks, United States 14
Portland General Electric Company, Hydro Power Plants 16
Portland General Electric Company, Hydro Power Plants, United States 16
Portland General Electric Company, Biopower Plants 17
Portland General Electric Company, Biopower Plants, United States 17
Portland General Electric Company, Thermal Power Plants 18
Portland General Electric Company, Thermal Power Plants, United States 18
Portland General Electric Company, Commercial Reactors 19
Portland General Electric Company, Commercial Reactors, United States 19
Business Description 20
Business Overview 20
Major Products and Services 21
History 22
SWOT Analysis 25
Overview 25
Portland General Electric Company Strengths 25
Power Purchase Agreements 25
Diverse Generation Base 25
Market Position 25
Portland General Electric Company Weaknesses 26
Working Capital Deficit 26
Portland General Electric Company Opportunities 26
SunShot Initiative 26
Prospective Growth in Demand for Electricity: the US 26
Integrated Resource Plan 26
Portland General Electric Company Threats 26
Weather Conditions 26
Environmental Laws and Regulations 27
Transmission and Distribution Network Security 27
Financial Ratios – Capital Market Ratios 28
Financial Ratios – Annual Ratios 28
Financial Ratios – Interim Ratios 30
Key Employees 31
Key Employee Biographies 32
Company Statement 33
Locations And Subsidiaries 34
Head Office 34
Other Locations & Subsidiaries 34
Financial Deals Landscape 35
Portland General Electric Company, Deals Summary 35
Portland General Electric Company, Power, Deal Details 36
Asset Transactions 36
Portland General Electric Invests USD500 Million In Tucannon River Wind Farm in Washington, US 36
Portland General Electric Acquires Lower Snake River Wind Farm II In Washington, US From Puget Sound Energy 37
Portland General Electric To Invest US$455 Million In Natural Gas Fired Power Plant Near Boardman, UK 38
Portland General Electric And Oregon Department of Transportation Completes Project Financing For Baldock Solar Station In Oregon, US 39
ODOT And PGE Announce Project Financing For Solar Highway Power Project In Oregon, US 40
Debt Offering 41
Portland General Electric to Raise USD150 Million in Private Placement of 3.98% Bonds Due 2047 41
Portland General Electric Raises USD75 Million in Private Placement of 3.98% Bonds Due 2048 42
Recent Developments 43
Portland General Electric Company – Recent Developments 43
Oct 25, 2017: Organic Valley introduces new solar partnership to be 100% renewably powered by 2019 43
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 44
Mar 27, 2014: PGE Resource Plan Lays Groundwork for Energy Future 45
May 31, 2013: Eaton Collaborates PGE To Power Smart Grid Demonstration Project In US 46
Mar 11, 2013: PGE To Begin Negotiations For Additional Renewable Power Resources 46
Jan 14, 2013: PGE And BPA Sign MoU To Pursue Modification To Proposed Cascade Crossing Transmission Project 47
Aug 10, 2011: BPA To Upgrade California-Oregon Intertie 47
Feb 17, 2011: PGE And BPA Agree To Discuss Mutual Interests In Transmission Projects 48
Aug 24, 2010: Ford Motor And PGE Team Up To Prepare Oregon For EVs 48
Aug 05, 2010: PGE And NEC Open North America’s First Public-Use Quick-Charge Station For EVs 49
Aug 03, 2010: PGE And PacifiCorp Sign MoU To Open Discussions On Joint Development Of Cascade Crossing Transmission Project 49
Mar 02, 2010: PGE plans for 2.4MW solar project in the Pacific Northwest 50
Mar 02, 2010: Portland General Electric Rolls Out Another Rooftop Solar Project With ProLogis, Increasing Its Total Solar Energy Capacity To More Than 12MW 50
Oct 14, 2008: PGE Announces Solar Project In Pacific Northwest 51
Apr 23, 2008: PGE Issues RFP To Secure Renewable Power 51
Sep 14, 2006: NorthWestern Energy And Partners Announce Transmission Upgrade Efforts 51
Jul 15, 2010: PGE Starts Electricity Generation From Final Phase Of Biglow Canyon Wind Farm 52
Oct 27, 2017: Portland General Electric Announces Third Quarter 2017 Results 52
Jul 28, 2017: Portland General Electric Announces Second Quarter 2017 Results 54
Apr 28, 2017: Portland General Electric Announces First Quarter 2017 Results 56
Feb 17, 2017: Portland General Electric Reports 2016 Financial Results and Initiates 2017 Earnings Guidance 59
Oct 28, 2016: Portland General Electric Announces Third Quarter 2016 Results 61
Aug 03, 2016: Portland General Electric Announces Second Quarter 2016 Results 63
Apr 29, 2016: Portland General Electric Announces First Quarter 2016 Results 66
Feb 12, 2016: Portland General Electric Reports 2015 Financial Results and Initiates 2016 Earnings Guidance 68
Oct 26, 2015: Portland General Electric Announces Third Quarter 2015 Results 71
Jul 28, 2015: Portland General Electric Announces Second Quarter Results 72
Apr 28, 2015: Portland General Electric Announces First Quarter Results 74
Feb 18, 2015: Portland General Electric Declares Dividend 76
Feb 13, 2015: Portland General Electric Reports 2014 Financial Results and Initiates 2015 Earnings Guidance 76
Jan 16, 2015: Portland General Electric Schedules Earnings Release and Conference Call for Friday, February 13 77
Oct 28, 2014: Portland General Electric Announces Third Quarter Results 77
Oct 23, 2014: Portland General Electric Declares Dividend 79
Jul 29, 2014: Portland General Electric Announces Second Quarter Results 79
Jul 24, 2014: Portland General Electric Declares Dividend 81
May 07, 2014: Portland General Electric Increases Dividend 81
Apr 29, 2014: Portland General Electric Announces First Quarter Results 81
Feb 19, 2014: Portland General Electric Declares Dividend 83
Feb 14, 2014: Portland General Electric Reports 2013 Financial Results and Initiates 2014 Earnings Guidance 83
Nov 01, 2013: Portland General Electric Announces Third Quarter Results 85
Oct 30, 2013: Portland General Electric Declares Dividend 86
Oct 01, 2013: Portland General Electric Schedules Earnings Release and Conference Call for Friday, November 1 86
Aug 02, 2013: Portland General Electric Announces Second Quarter Results 87
Jul 31, 2013: Portland General Electric Declares Dividend 88
May 01, 2013: Portland General Electric Reports Revenue Of $473m In Q1 2013 88
Feb 22, 2013: Portland General Electric Reports Revenue Of $1.8 Billion In 2012 90
Nov 08, 2012: Portland General Electric Reports Revenue Of $450m In Q3 2012 92
Aug 07, 2012: Portland General Electric Reports Revenue Of $413m In Q2 2012 93
May 03, 2012: Portland General Electric Reports Revenue Of $479m In Q1 2012 94
Feb 24, 2012: Portland General Electric Reports Revenue Of $1.8 Billion In 2011 95
Nov 03, 2011: PGE Reports Revenue Of $439m In Q3 2011 97
Aug 05, 2011: PGE Reports Net Revenues Of $411m In Q2 2011 98
May 05, 2011: Portland General Electric Reports Net Revenues Of $484m In Q1 2011 99
Feb 25, 2011: Portland General Electric Reports Net Revenues Of $1.7 Billion In 2010 100
Oct 28, 2010: Portland General Electric Reports Net Revenues Of $464 Million In Q3 2010 101
Aug 05, 2010: Portland General Electric Reports Net Revenues Of $415 Million In Q2 2010 101
May 04, 2010: Portland General Electric Reports Net Income Of $27 Million In Q1 2010 102
Feb 25, 2010: Portland General Electric Reports Net Income Of $95 Million In 2009 104
Oct 29, 2009: Portland General Electric Reports Net Income Of $31 Million In Q3 2009 105
May 04, 2009: Portland General Electric Reports Net Income Of $24 Million In Q1 2009 106
Feb 25, 2009: Portland General Electric Reports 2008 Results 108
Feb 19, 2009: Portland General Electric Declares Quarterly Dividend 109
Oct 30, 2008: PGEC Declares Nine Months 2008 Results 109
Oct 30, 2008: PGEC Declares Quarterly Dividend 110
Aug 07, 2008: PGEC Declares 2Q 2008 Results 110
Aug 06, 2008: PGEC Declares Quarterly Dividend 112
May 07, 2008: PGEC Declares Quarterly Dividend 112
May 05, 2008: PGEC Declares Q1 2008 Results 112
Feb 26, 2008: PGEC Declares Q4 2007 Results 114
Feb 20, 2008: PGEC Declares Quarterly Dividend 116
Nov 01, 2007: PGEC Declares Q3 2007 Results 117
Oct 25, 2007: PGEC Declares Quarterly Dividend 118
Aug 02, 2007: PGEC Declares Quarterly Dividend 118
Jul 30, 2007: PGEC Declares Q2 2007 Results 118
May 02, 2007: PGEC Declares Quarterly Dividend 120
Apr 30, 2007: PGEC Declares Q1 2007 Results 120
Mar 01, 2007: PGEC Declares Quarterly Dividend 122
Mar 01, 2007: PGEC Declares Q4 2006 Results 122
Nov 01, 2017: PGE submits storage plan to Oregon Public Utilities Commission 124
Oct 24, 2017: PCI Provides Integrated Platform for Portland General Electric Company’s Participation in Western Energy Imbalance Market 124
Oct 18, 2017: Western EIM benefits remained strong during Q3 2017 125
Oct 02, 2017: Portland General Electric joins western Energy Imbalance Market 125
Aug 30, 2017: Portland agrees to sell hydroelectric power to PGE for undisclosed amount 126
Jul 28, 2017: PGE Announces CEO Succession Plan 126
Jun 28, 2017: PGE Receives Approval From Oregon PUC To Sell Oil Storage Tanks 127
Jun 03, 2017: Construction Begins On Gas Pipeline From Mist To Port Westward 127
May 12, 2017: PGE Suspends Permitting Processes for New Power Plant Sites 127
Mar 14, 2017: Utilities Overwhelmingly Select FirstFuel for Business Customer Engagement in 2016 127
Nov 15, 2016: PGE files Integrated Resource Plan with Public Utility Commission 128
Oct 03, 2016: NW Natural Receives Notice To Proceed On Its North Mist Expansion Project 129
Aug 16, 2016: DRA Files Federal Lawsuit to Enforce Clean Water Act 129
Mar 02, 2016: Oregon Legislature Sets New Renewable Energy Standards 129
Dec 21, 2015: PGE Assumes Control of Carty Generating Station Construction 130
Dec 17, 2015: Infomart Portland Receives Approval for Direct Access Power Service 131
Dec 16, 2015: OPUC Approves PGE Price Changes for 2016 131
Dec 07, 2015: DEQ fines PGE for air quality violation in Clatskanie 131
Nov 23, 2015: Portland General Electric Formalizes Agreement to Join EIM 132
Aug 14, 2015: PGE to implement Willamette River sediment cleanup near Tilikum Crossing Bridge 132
Jul 27, 2015: DEQ to hold public hearing August 25 on air quality permit for operation of gas-fired power plant near Boardman 132
Feb 06, 2015: NW Natural To Proceed With North Mist Expansion Project Permitting 133
Jan 20, 2015: Lucid Energy Announces Portland Water Pipeline Now Producing Renewable Energy for PGE Customers 133
Jan 15, 2015: Wind-integrating power plant supplied by Wartsila now operational in Oregon, USA 134
Jan 02, 2015: New PGE Plant Will Help Balance Renewables and Meet Peak Demand for Customers 134
Dec 18, 2014: RES Americas Announces Completion of 267 MW Washington Wind Project 135
Dec 15, 2014: PGE Announces Completion of Tucannon River Wind Farm 135
Jun 05, 2014: PGE begins construction of natural gas-fired power plant in Boardman, Oregon 136
Aug 02, 2013: Portland General Electric Restarts Boardman Coal-fired Power Plant In Oregon 136
Jul 16, 2013: PGE Expects To Spent About $12m On Repair Of Two Coal-fired Power Plants 137
Jun 12, 2013: RES Americas To Construct Phase II Of Lower Snake River Wind Project In US 137
Jun 04, 2013: PGE Announces New Wind Farm in SE Washington 137
Mar 05, 2013: PGE To Hold Open Houses On Cascade Crossing Transmission Project 138
Feb 22, 2013: PGE Names Jim Lobdell As CFO 138
Feb 15, 2013: PGE Asks OPUC To Review Customer Prices 138
Jan 24, 2013: Constellation Energy Completes 5.7 MW Solar Generation Project For PGE 139
Nov 26, 2012: PGE Provides Update On RFP Response For Renewable Generating Resources 139
Oct 01, 2012: PGE Issues RFP For New Renewable Resources 139
Sep 10, 2012: PGE Reports On Response To RFP For New Generating Resources 140
Aug 23, 2012: Montana PSC Sponsors Energy Transmission Forum 140
Aug 20, 2012: PGE Launches Process To Pre-qualify Bidders For Upcoming Demand Response RFP 141
Jul 25, 2012: Sierra Club And MEIC To Initiate Lawsuit Against Colstrip Coal-fired Power Plant 141
Jul 03, 2012: PGE Seeks Input On Draft RFP For New Renewable Resources 141
Jun 08, 2012: PGE Issues Request For Proposals For Electric Power Generating Resources 142
Feb 27, 2012: PGE To Hold Open Houses On Cascade Crossing Transmission Project 143
Jan 12, 2012: BPA And PGE Continue Discussing Potential Collaboration On Cascade Crossing Transmission Project 143
Dec 30, 2011: Electric Rates To Change In 2012 For PacifiCorp And PGE Customers: Oregon PUC 143
Dec 29, 2011: Idaho Power Files Cost Plan On Boardman Power Plant Shutdown 144
Nov 15, 2011: Nanosolar And EDF Energies Nouvelles Commission Solar Projects Totaling 6 MW Capacity In France And US 144
Sep 14, 2011: Advanced Energy Announces SEGIS Technology Demonstration 145
Aug 23, 2011: PGE And ODOT Commence Construction On 1.75 MW Solar Highway Project 145
Jul 19, 2011: PGE Reports Progress In Implementation Of Boardman Power Plant Emissions Reduction Strategy 145
Jul 19, 2011: Shorter-Term Scheduling Boosts Flexibility Of Western Energy Markets: BPA 146
Jul 06, 2011: PGE And RTP Controls Offer New Energy Partner Demand Response Program To Business Customers 147
Apr 14, 2011: PGE Appoints Bill Nicholson As Senior Vice President 147
Mar 02, 2011: PGE To Host Open House On Upcoming Projects In Boardman Area, Oregon 148
Dec 17, 2010: Oregon PUC Issues Decision On PGE’s General Rate Case For 2011 148
Dec 15, 2010: Nissan Delivers Oregon’s First Electric Nissan LEAF 149
Dec 09, 2010: Oregon EQC Adopts DEQ Proposal For Shutdown Of Portland General Electric’s Boardman Power Plant 150
Dec 03, 2010: DEQ Proposes Revisions To Air Pollution Control Rules For PGE’s Boardman Coal-Fired Power Plant In Oregon, US 150
Nov 19, 2010: Oregon PUC Acknowledges PGE’s 2009 Integrated Resource Plan 151
Oct 13, 2010: Eaton Selects Wilsonville As Key Site For Electric Vehicle DC Quick Charger 151
Sep 29, 2010: PGE Withdraws Waiver Request For Rock Creek Wind Farm In Gilliam County, Oregon 152
Sep 09, 2010: 450-MW Wind Farm Online in Oregon 152
Sep 08, 2010: PGE Announces Completion Of Biglow Canyon Wind Farm 153
Aug 31, 2010: Oregon DEQ To Open Comment Period On Proposed Emission Controls For PGE’s Coal-Fired Power Plant In Boardman, US 153
Jul 26, 2010: PGE Completes Installation Of $14 Million Solar Project In US And Brings It Online 154
Jun 28, 2010: PGE Responds To DEQ Emissions Control Options For Boardman Plant 154
Jun 28, 2010: DEQ Provides Draft Proposal For Early Shutdown Of PGE’s Boardman Power Plant 155
Jun 17, 2010: OEQC Denies PGE Petition To Revise Boardman Plant Pollution Controls 155
May 18, 2010: OEQC To Hear DEQ’s Recommendation On PGE’s Request To Revise Boardman Plant’s Pollution Controls 156
Apr 09, 2010: PGE Files Revised Resource Plan With OPUC Seeking Closure Of Boardman Power Plant By 2020 156
Apr 02, 2010: PGE Seeks DEQ To Allow Early Closure Of Coal-Fired Boardman Power Plant In Oregon 157
Mar 12, 2010: PV Powered Announces Installation Of Inverters At 2.4MW Project In Portland, Oregon 157
Mar 02, 2010: PGE plans for 2.4MW solar project in the Pacific Northwest 158
Feb 16, 2010: Portland General Electric Asks OPUC To Review Its Costs Of Providing Service 158
Jan 27, 2010: Seko’s Portland Facility Installs 31 kW Solar Voltaic System 159
Jan 14, 2010: Portland General Electric Informs OPUC Its Alternative Operating Plan For Boardman Coal-Fired Power Plant 159
Jan 06, 2010: Portland General Electric Applies To Oregon’s DEQ For Air Contaminant Discharge Permit 160
Aug 20, 2009: Portland General Completes Second Phase Of Biglow Canyon Wind Farm In Sherman County, Oregon 160
Jul 17, 2009: Portland General Electric Appoints Four New Vice Presidents 161
Jun 18, 2009: Portland General Electric Appoints Kirby A. Dyess To Its Board 161
Jun 18, 2009: Portland General Updates On Biglow Canyon Wind Farm 162
Apr 15, 2009: Portland General Electric Completes Smart Metering Systems Testing And Moves Forward For Their Installation Territory-Wide 162
Apr 01, 2009: TransAlta, Portland General Electric Agree To Cut Mercury And Haze Pollution From Their Coal-Fired Power Plants 163
Dec 29, 2008: PGEC Announces Senior Management Appointments 163
Dec 12, 2008: Solarcity Installs 100 kW Electric PV System At Intel’s Jones Farm 4 Campus In Hillsboro 163
Nov 24, 2008: PGE Completes Decommissioning Of Trojan Nuclear Plant 164
Oct 14, 2008: ProLogis Agrees To Lease Roof Space To PGEC For Construction Of Multiple PV Systems 164
Dec 21, 2007: PGE Starts Operations Of Biglow Canyon Wind Farm 165
Oct 15, 2007: PGEC Updates On Biglow Canyon Wind Farm 165
Jul 11, 2007: PGEC To Focus On Renewables 165
Feb 27, 2007: PGEC Appoints New Board Member 167
Apr 21, 2015: Linde switches to wind-generated electricity for a significant portion of load at Oregon air separation plant 167
Sep 25, 2013: Wartsila inks service agreement with PGE for Port Westward power plant in US 167
Aug 20, 2013: Siemens receives major U.S. wind order 168
Jun 04, 2013: Abengoa Selected By PGE To Develop 440 MW Combined Cycle Power Plant In US 168
Feb 04, 2013: Wartsila To Supply Generating Sets For Port Westward Unit 2 Plant In Oregon 168
Jun 18, 2012: Shaw To Install Emissions Reduction Equipment At Boardman Station In Oregon 168
Jan 04, 2012: PGE Issues Draft RFP For Electric Power Generating Resources 169
Apr 21, 2011: PGE Issues Draft RFP For New Electric Power Resources 169
Jan 25, 2011: PGE Seeks Independent Evaluator For Power Proposals 170
Jan 19, 2011: Nalco Mobotec Signs Contract With PGE For Mercury Emission Control At Boardman Station In Boardman, Oregon, US 171
Sep 21, 2010: enXco Signs Power Purchase Agreements With PGE For Solar PV Installations 171
Mar 03, 2010: ECD Announces 2.4MW Rooftop Solar Project In Portland 171
Nov 25, 2009: EnerDel Enters Utility Energy Storage Market, Will Supply New DOE-Backed Smart Grid Program 172
May 12, 2009: Emerson Wins Contract To Install Ovation SCADA System At PGE’s Biglow Canyon Wind Farm 172
Oct 14, 2008: SIT Receives Contract To Install BIPV Roofing Systems At Solar Project In Pacific Northwest 173
Apr 03, 2008: PGEC To Buy Turbines From Siemens For Biglow Canyon Wind Project Expansion 174
Apr 03, 2008: Siemens Wins Order From PGE For Wind Turbines 174
Appendix 176
Report Scope 176
GlobalData Coverage 176
Benchmarking 176
GlobalData’s Methodology 176
Secondary Research 176
Primary Research 177
Contact Us 177
Disclaimer 177
Portland General Electric Company, Key Facts 9
Portland General Electric Company, Operational Metrics, Capacity 10
Portland General Electric Company, Operational Metrics, Generation 10
Portland General Electric Company, Operational Metrics, Transmission 11
Portland General Electric Company, Operational Metrics, Distribution 11
Portland General Electric Company, Operational Metrics, Customers 11
Portland General Electric Company, Operational Metrics, Segmental Information 11
Portland General Electric Company, Operational Metrics, Sales 12
Portland General Electric Company, Wind Farms, United States 13
Portland General Electric Company, Solar PV Parks, United States 14
Portland General Electric Company, Hydro Power Plants, United States 16
Portland General Electric Company, Biopower Plants, United States 17
Portland General Electric Company, Thermal Power Plants, United States 18
Portland General Electric Company, Commercial Reactors, United States 19
Major Products and Services 21
Portland General Electric Company, SWOT Analysis 25
Portland General Electric Company, Ratios based on current share price 28
Portland General Electric Company, Annual Ratios 28
Portland General Electric Company, Interim Ratios 30
Portland General Electric Company, Key Employees 31
Portland General Electric Company, Other Locations 34
Portland General Electric Company, Deals Summary 35
Portland General Electric Invests USD500 Million In Tucannon River Wind Farm in Washington, US 36
Portland General Electric Acquires Lower Snake River Wind Farm II In Washington, US From Puget Sound Energy 37
Portland General Electric To Invest US$455 Million In Natural Gas Fired Power Plant Near Boardman, UK 38
Portland General Electric And Oregon Department of Transportation Completes Project Financing For Baldock Solar Station In Oregon, US 39
ODOT And PGE Announce Project Financing For Solar Highway Power Project In Oregon, US 40
Portland General Electric to Raise USD150 Million in Private Placement of 3.98% Bonds Due 2047 41
Portland General Electric Raises USD75 Million in Private Placement of 3.98% Bonds Due 2048 42
