PGE receives decision from Oregon Public Utility Commission in 2025 rate review

Core Viewpoint - The Oregon Public Utility Commission (OPUC) approved rate changes for Portland General Electric (PGE) that will take effect on January 1, 2025, with increases ranging from 5.5% to 7.7% based on customer type, aimed at supporting infrastructure investments and improving renewable energy availability [1][4][5]. Rate Changes and Financial Impact - The residential rate increase is set at 5.5%, which includes a 1.9% rise in power costs and a 1.1% increase for mandated funding of the Energy Trust of Oregon, with the remaining 2.5% allocated for capital investments and upgrades [4][7]. - The total expected revenue requirement increase is $98 million, representing approximately 54% recovery from PGE's final open brief filing of $182 million [5]. - The approved capital structure consists of 50% debt and 50% equity, with a return on equity (ROE) set at 9.34% [5]. Infrastructure Investments - The rate changes will support investments in a local battery energy storage system, transmission infrastructure, and technology modernization to enhance service reliability and reduce the need for power purchases [1][2][3]. - PGE is committed to customer affordability while managing its cost structure and focusing on high-impact investments that benefit all stakeholders [2]. Customer Support and Protections - PGE has collaborated with the Commission and customer advocates to expand customer protections, including suspending disconnections for income-qualified customers through March 31, 2025, and forgiving up to $1,000 in past-due balances for the most vulnerable customers [3][15]. - The company is also enhancing its Income-Qualified Bill Discount program and providing various tools to help customers manage their energy use and costs [8][12]. Regulatory Process - The rate review process was open and transparent, involving nearly 2,000 pages of written testimony and responses to approximately 1,120 commission data requests over 11 months [6]. - PGE's proposal to strengthen protections for residential and small business customers includes securing up-front payments and requiring long-term commitments from new industrial customers [13].