Portland General Electric reported solid Q3 2025 results. Total revenues were $952 million versus $929 million a year ago, and diluted EPS was $0.94 versus $0.90. Income from operations rose to $174 million from $146 million as purchased power and fuel costs eased modestly.
For the nine months, revenues were $2.687 billion versus $2.616 billion, with net income of $265 million versus $275 million as higher depreciation and interest offset growth. Operating cash flow strengthened to $970 million, supporting heavy investment; capital spending was $899 million, including the Seaside Battery Energy Storage System placed in service with $395 million reflected in utility plant.
Liquidity remains ample: PGE issued $310 million of First Mortgage Bonds in March at fixed rates of 5.36%–5.84% and extended its $750 million revolving credit facility to September 2030, with no borrowings outstanding at quarter end. Key regulatory balances included wildfire mitigation deferrals of $46 million, reliability contingency event deferrals of $89 million, and a Clearwater RAC net regulatory liability that began refunding customers on March 1, 2025.
Portland General Electric (POR) announced that the Oregon regulator approved cost recovery for its Seaside Battery Energy Storage System. The order sets a $220 million rate base increase, net of an estimated $125 million Investment Tax Credit, and authorizes a 9.34% return on equity.
The decision raises PGE’s annual revenue requirement by $42 million excluding Net Variable Power Costs, compared with the company’s closing-brief request of $46 million. For the remainder of 2025, the order adds a $6 million revenue requirement inclusive of NVPC customer benefits. It also adopts an earnings test at the authorized ROE with a deferral mechanism to track Seaside revenues and refund excess earnings if applicable. Seaside’s NVPC will flow through Annual Update Tariff filings starting in 2026, and the Seaside revenue requirement will be reflected in customer prices effective October 31, 2025.
Portland General Electric Company filed an 8-K describing an updated final shortlist for its 2023 All-Source Request for Proposal to add non‑emitting capacity and renewable generation. The shortlist now includes three projects: a 250 MW solar-plus-battery build-transfer project, a 365 MW solar-plus-battery hybrid structure combining a power purchase agreement and a build-transfer portion, and a 400 MW battery build-transfer project.
The company has asked Oregon regulators to acknowledge the updated shortlist by November 25, 2025 so it can complete contract negotiations, with contracts expected by the end of 2025 and projects in service by the end of 2027. These projects are part of a broader procurement strategy aimed at affordability, reliability and decarbonization, and remain subject to regulatory, supply chain, cost, tax incentive and legislative risks outlined in the forward‑looking statements.
Maria M. Pope, President and CEO and a director of Portland General Electric Company (POR), reported insider transactions on 09/10/2025. The filing shows two non-derivative transactions in POR common stock: a disposition of 3,049 shares (code "G") at $42.50 per share and a sale of 18,896 shares (code "S") at $42.50 per share. After these transactions, Ms. Pope beneficially owned 194,135 shares, down from 213,031 shares before the reported transactions. The Form 4 was signed by Kristina Benson under power of attorney on behalf of Maria Pope on 09/11/2025.
Portland General Electric Company (POR) filed a Form 144 to notify a proposed sale of 18,896 shares of common stock through JPMorgan with an aggregate market value of $803,080.00. The filing shows the shares were acquired via restricted stock vesting on 02/12/2020 (8,049 shares) and 02/11/2022 (10,847 shares) and that payment was for compensation. The filing lists 109,562,368 shares outstanding and an approximate sale date of 09/10/2025 on the NYSE. No sales in the past three months are reported and the signer certifies no undisclosed material adverse information.
Portland General Electric Company reported that board member Dawn Farrell plans to resign from its Board of Directors. She is leaving to accept an appointment with the Canadian government as Chief Executive Officer of the newly created Major Projects Office launched under the Building Canada Act.
Farrell joined the board in 2022 and currently serves on the Finance and Operations Committee and the Nominating, Governance and Sustainability Committee. Her resignation from the board will be effective October 1, 2025.
Insider sale reported: Portland General Electric Company director and Senior Vice President Larry Neal Bekkedahl reported selling 2,000 shares of POR common stock on 08/22/2025 at $43 per share, leaving him with 33,670 shares beneficially owned. The Form 4 was filed individually and signed by Kristina Benson under power of attorney on 08/26/2025. The filing shows no derivative transactions.
Portland General Electric Company (POR) Form 144 notice reports a proposed sale of 2,000 shares of Common stock through Fidelity Brokerage Services LLC on the NYSE, with an aggregate market value of $86,000 and an approximate sale date of 08/22/2025. The securities were acquired via restricted stock vesting on 02/10/2023 (976 shares) and 02/14/2023 (1,024 shares) as compensation, with payment recorded on those acquisition dates. The filer reports no securities sold by the same person in the past three months. The notice contains the standard attestation about absence of undisclosed material adverse information and the criminal penalty warning for false statements.
Portland General Electric Co. (POR) – Form 144 filing
An insider plans to sell up to 2,190 common shares through Fidelity Brokerage Services on the NYSE around 6 Aug 2025. The shares were acquired by restricted-stock vesting on 14 Feb 2025 and are valued at $92,714 in total, or roughly $42.35 per share. With 109.6 million shares outstanding, the proposed sale equals only 0.002 % of equity, posing no dilution risk. The filer reports no prior sales in the past three months and certifies awareness of no undisclosed adverse information. This notice satisfies Rule 144 requirements and reflects a routine liquidity event rather than a strategic corporate action.