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PORTLAND GENERAL ELECTRIC COMPANY

(POR)
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PORTLAND GENERAL ELECTRIC CO /OR/ : Other Events (form 8-K)

10/01/2021 | 06:14am EST

Item 8.01 Other Events.

On July 9, 2021, Portland General Electric Company (PGE, or the Company) filed with the Public Utility Commission of Oregon (OPUC) a general rate case based on a 2022 test year (2022 GRC, or the case). PGE's initial filing requests an increase in PGE's annual revenue requirement that, when combined with changes in supplemental schedules, results in an overall average increase of approximately 3.9% in customer prices for 2022.

The proposed net increase in annual revenue requirement in the GRC is based upon:


•A capital structure of 50% debt and 50% equity;
•A return on equity of 9.5%;
•A cost of capital of 6.94%; and
•An average rate base of $5.7 billion.

PGE, OPUC staff, and certain customer groups have reached an agreement that resolves cost of capital issues in the case. All other elements of the case remain unsettled.

The agreement allows for:

•A capital structure of 50% debt and 50% equity; •A return on equity of 9.5%; and •A cost of capital of 6.83%, which reflects updates for actual and forecasted debt costs.

This stipulation remains subject to OPUC approval. PGE will continue to work with Parties throughout this proceeding to resolve all other unsettled elements of the case. PGE has proposed that new customer prices become effective in May 2022.

Regulatory review of the 2022 GRC will continue throughout 2021 and into 2022, with a final OPUC order expected to be issued by April 2022. Management cannot predict the outcome of the case.

The 2022 GRC filing (OPUC Docket UE 394), as well as copies of direct testimony, exhibits, and the stipulation discussed above, are available on the OPUC Internet website at www.oregon.gov/puc.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 2 309 M - -
Net income 2021 247 M - -
Net Debt 2021 3 116 M - -
P/E ratio 2021 18,6x
Yield 2021 3,33%
Capitalization 4 572 M 4 572 M -
EV / Sales 2021 3,33x
EV / Sales 2022 3,36x
Nbr of Employees 3 639
Free-Float 99,5%
Chart PORTLAND GENERAL ELECTRIC COMPANY
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Portland General Electric Company Technical Analysis Chart | POR | US7365088472 | MarketScreener
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 51,14 $
Average target price 52,10 $
Spread / Average Target 1,88%
EPS Revisions
Managers and Directors
Maria MacGregor Pope President, Chief Executive Officer & Director
James A. Ajello Chief Financial Officer & Treasurer
Jack E. Davis Chairman
John T. Kochavatr Chief Information Officer & Vice President-IT
Lisa Ann Kaner VP, General Counsel & Compliance Officer
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