PORTLAND GENERAL ELECTRIC CO

Portland General Electric Company (PGE) is a vertically-integrated electric utility based in Portland, Oregon. The company generates, purchases and sells wholesale, transmits, distributes, and sells electricity at retail to customers exclusively within the state of Oregon. PGE operates as a single business segment, with all revenues and costs managed on a total electric operations basis. Its revenue requirements and customer prices are determined by the Public Utility Commission of Oregon (OPUC) based on the forecasted cost to serve retail customers and a reasonable rate of return. PGE fulfills its retail load requirements using both company-owned generation and power acquired from the wholesale market. The company participates in the wholesale market by buying and selling electricity, natural gas, and environmental credits to secure reasonably-priced power for its retail customers, manage risk, and administer long-term wholesale contracts. Incorporated in 1930, PGE is publicly-owned, with its common stock listed on the New York Stock Exchange (NYSE). The company's state-approved service area covers 4,000 square miles entirely within Oregon, encompassing 51 incorporated cities. During 2025, PGE added 10,000 customers, serving a total of approximately 960,000 retail customers as of December 31, 2025.