Welcome to our dedicated page for Portland General news (Ticker: POR), a resource for investors and traders seeking the latest updates and insights on Portland General stock.
Portland General Electric Company (NYSE: POR) generates, transmits and distributes electricity to over 950,000 customers in Oregon, serving an area of 1.9 million Oregonians. The news flow around PGE reflects its role as a regulated electric utility and integrated energy company, with regular updates on earnings, resource planning, large customer demand and clean energy initiatives.
Investors following POR news will find quarterly earnings releases that discuss GAAP and non-GAAP results, industrial load trends and guidance assumptions. Recent reports have highlighted demand growth from semiconductor manufacturing, technology infrastructure and data center customers, as well as the financial impact of capital investments, operating costs and tax credits. PGE also issues announcements about its dividend, including the targeted payout ratio and board-approved quarterly dividend amounts.
Another key category of Portland General Electric news involves resource procurement and grid investments. Press releases and related disclosures cover the completion of utility-scale battery energy storage systems, adding hundreds of megawatts of dispatchable capacity, and the role of these assets in supporting grid reliability and integrating intermittent resources. Updates on all-source requests for proposals, battery projects such as the Seaside facility, and collaborations with partners like GridCARE provide insight into how PGE plans for non-emitting dispatchable capacity and renewable generation.
Regulatory and corporate governance developments also appear in PGE’s news stream. Items include regulatory orders from the Public Utility Commission of Oregon related to cost recovery and rate base changes, as well as board of director appointments and resignations. For investors, analysts and customers, this news page offers a centralized view of financial results, infrastructure projects, regulatory milestones and corporate actions that shape Portland General Electric’s operations and strategy.
ESS Tech, Inc. (NYSE: GWH) has partnered with Portland General Electric (NYSE: POR) to test the ESS Energy Center™ platform in Wilsonville, Oregon. This 3 MWh Energy Center, set to launch in mid-2022, aims to demonstrate various use cases for energy storage, including frequency response and demand response. The platform, designed for utility-scale applications, distinguishes power from storage capacity, allowing for flexible energy solutions that can operate for up to 12 hours. This collaboration highlights the growing demand for long-duration energy storage technology.
Portland General Electric (NYSE: POR) reported a net income of $50 million, or 56 cents per diluted share, for Q3 2021, turning around from a $17 million loss in Q3 2020. Increased revenues stem from higher retail energy deliveries, strong residential demand, and high-tech manufacturing growth, despite challenges from weather and market volatility. PGE plans to initiate a renewable RFP in December, aiming for significant clean energy capacity by 2030. The company also reaffirmed its 2021 earnings guidance of $2.70 to $2.85 per share.
Dawn L. Farrell has been appointed to the Portland General Electric (NYSE:POR) board of directors, effective January 1, 2022. With over 35 years in the energy sector, including her recent role as President and CEO of TransAlta Corporation, Farrell brings valuable experience during a time of regulatory changes and technological advancements. She will serve on the Nominating, Governance and Sustainability Committee and the Finance Committee. PGE, serving 900,000 customers in Oregon, is focused on achieving significant greenhouse gas emissions reductions and enhancing its renewable energy programs.
On October 26, 2021, Portland General Electric Company (NYSE: POR) announced a quarterly common stock dividend of 43 cents per share. This dividend will be distributed to shareholders on or before January 18, 2022, to those on record by December 27, 2021. The company aims for a dividend payout ratio of 60% to 70% based on capital requirements and financial performance. Portland General Electric serves approximately 900,000 customers across Oregon and is focused on achieving sustainable energy goals, including a 100% reduction in GHG emissions by 2040.
Portland General Electric (PGE) announced plans to significantly increase clean energy supply, aiming for an 80% reduction in GHG emissions by 2030, 90% by 2035, and zero emissions by 2040. The company initiated a public RFP process requesting around 1,000 MW of renewable resources, targeting 375-500 MW from renewables and 375 MW of non-emitting power. PGE also filed a Distribution System Plan to support this transition, aiming for 25% of peak power from customer resources by 2030. The goal includes an acceleration of coal phase-out by 2025 while enhancing grid reliability.
Portland General Electric (NYSE: POR) has announced a partnership with Nest Renew from Google to enhance energy management and promote clean energy usage among customers. This initiative offers two approaches: Nest Renew Basic, which optimizes heating and cooling based on cleaner energy availability, and Nest Renew Premium, which includes Clean Energy Match to offset fossil fuel usage with renewable energy credits. This service aims to simplify energy management and bolster participation in existing energy-saving programs. The rollout is set to begin in Fall 2021.
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Portland General Electric (NYSE: POR) will hold an analyst conference call on October 29, 2021, to discuss its third quarter 2021 financial results. The earnings summary will be released before the market opens on the same day. Key executives, including Maria Pope, the CEO, will participate in the call. A replay will be available from 2 p.m. ET on the same day through November 5. The company serves around 900,000 customers across Oregon and aims for significant reductions in greenhouse gas emissions by 2030 and 2040.
Portland General Electric Company (NYSE: POR) reported net income of $32 million for Q2 2021, down from $39 million in Q2 2020. The company faced record temperatures, reaching a peak load of 4,441 MW. Total revenues increased due to higher retail energy deliveries amid strong demand. However, operating expenses rose due to wildfire preparations and increased legal costs. PGE filed a 2022 rate case, requesting a 3.9% average rate increase, while also declaring a quarterly dividend of $0.43 per share. Full-year earnings guidance was raised to $2.70-$2.85 per diluted share.
On July 28, 2021, Portland General Electric Company (NYSE: POR) announced a quarterly dividend of 43 cents per share. This dividend is part of the company's strategy to maintain a payout ratio of 60 to 70% based on its capital needs and financial performance. The dividend will be paid on or before October 15, 2021 to shareholders of record by September 27, 2021. With over 130 years of service, PGE provides energy to approximately 900,000 customers in Oregon, contributing to clean energy initiatives.