Portland General Electric Evaluates Options Following OPUC Order On Reorganization Structure; Company Does Not Expect To Proceed With The Reorganization Unless Provisions Are Clarified Or Modified; Unable To Estimate The Full Financial Impact Of The Order

Portland General Electric (PGE) is evaluating its options following a September 25, 2026 order from the Oregon Public Utility Commission (OPUC) regarding its proposed reorganization under a holding company structure. The order includes a rate credit and customer benefits totaling approximately $83 million but imposes conditions that could restrict PGE's business activities and limit its ability to fund necessary investments. PGE does not plan to proceed with the reorganization unless the order's provisions are clarified or modified, and it is currently unable to estimate the full financial impact of the order.