Exhibit 99.1
 | ポートランドジェネラルエレクトリック ワン・ワールド・トレード・センター 121 S.W. Salmon Street ポートランド、オレゴン 97204 ニュースリリース | |||||||
| 2024年10月25日 | ||||||||
| メディア連絡先： | 投資家連絡先： | |||||||
ドリュー・ハンソン | ニック・ホワイト | |||||||
| 企業コミュニケーション | 投資家関係 | |||||||
電話：503-464-2067 | 電話：503-464-8073 | |||||||
ポートランドジェネラルエレクトリックは2024年第3四半期の業績を発表しました
•第3四半期の結果は、電力コストの改善状況と、ハイテクおよびidc関連の顧客からの引き続き堅調な需要成長を反映しています
•2024年の調整後の純利益見通しを2.98ドルから3.18ドルから、希薄化後の1株当たりの3.08ドルから3.18ドルの範囲に修正し、当年度の業績を反映しました
ポートランドジェネラルエレクトリック、オレゴン州-- ポートランドジェネラルエレクトリックカンパニー（nyse: por） 本日、2024年第3四半期の米国一般に受け入れられる会計原則（GAAP）に基づく当期純利益は9400万ドル、希薄化後1株当たり0.90ドルで報告されました。これは、2023年第3四半期のGAAP当期純利益が4700万ドル、希薄化後1株当たり0.46ドルであったものと比較されます。
「私たちの運用の優れた点に焦点を当てること、そして西部全体での電力コストの改善が、Maria Pope氏PGE社長兼CEOによる堅調な第3四半期の成績を支えています。」
「我々は、信頼性の高い、クリーンで費用対効果の高い次世代のリソースを確保するための継続的なRFPで意義ある進展を遂げており、顧客成長をサポートし、共有の脱炭素化目標を推進することに進歩しています。」
2024年第3四半期は2023年第3四半期と比較して
半導体製造業やテクノロジーインフラ関連の需要増加、卸売収益の増加、資本、運営、電力コストの回復により、総収益が増加しました。 総収益は、気象に主による住宅および商業利用の低下により部分的に相殺されました。 購入電力および燃料費は、購入電力の値下がりによりわずかに減少しました。 運用および管理経費は、高い発電とネットワーク保守、サービス復旧作業、賃金と手当、および2024年1月の嵐および損傷の繰延釈放に関連する収益テストの繰延により増加しました。 償却費と減価償却費、利子費用は、継続的な資本投資により増加しました。
会社情報更新
2023年 全セクターの提案依頼更新
PGEは、2024年9月17日にオレゴン州公共公益委員会（OPUC）に2023年オールソースRFPの最終入札者の承認を求める申請を提出しました。最終ショートリストには、規制当局への認識を推奨するプロジェクトが含まれ、再生可能エネルギーと非排出能力の両方で構成された2つのグループにランク付けされています。
再生可能エネルギーに関する提案は、太陽光とバッテリー蓄電オプションを様々な組み合わせで提供し、パワーパーチェスアグリーメント（PPA）と企業所有の資源を含むビルドトランスファーアグリーメントを通じて提供されます
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(BTA)。非発電ディスパッチ可能容量リソースの提案は、PPAを含むバッテリー貯蔵オプションをBTAsを通じてCompany-ownedリソースと一緒に提供します。RFPプロセスの最終的な結果は、再生可能エネルギーおよび非発電ディスパッチ可能容量リソースの両方の複数プロジェクトの選択を含む可能性があります。
PGEは最終ショートリストにあるプロジェクトと商談を進めており、OPUCには2024年11月19日までにRFP最終ショートリストを承認するよう依頼しています。
2025年の一般レートケース
PGEと各当事者は、2025年の一般レートケースを進める状況で、規制審査が2024年中も続くと予想されます。OPUCは、2025年1月1日から有効な新しい顧客価格について、最終決定を2024年12月に出すことが予想されています。
ナンバーワンの任意再生可能エネルギープログラム
PGEの自発的な再生可能エネルギープログラム、グリーンフューチャーは、15年連続で米国エネルギー省国立再生可能エネルギー研究所により、米国の電力会社の中で最も多くのビジネスおよび住宅顧客が参加する再生可能エネルギープログラムとして1位にランクされました。
四半期配当
以前に発表された通り、2024年10月18日、ポートランドジェネラルエレクトリックカンパニーの取締役会は、株主一株につき$0.50の四半期普通株式配当を承認しました。四半期配当は2025年1月15日までに、2024年12月24日の取引終了時点での株主に支払われます。
2024年の収益見通し
PGEは、2024年の調整後の利益予測の見通しを$2.98から$3.18に縮小しています a revised range of between $3.08から$3.18の範囲に修正されました 希薄化後の株式あたり$3.08から$3.18に調整されました。以下の仮定に基づいて：
•2024年1月の冬の嵐の影響を除いて、延期できない信頼性運用事案（RCE）コストを含む;
•エネルギーの配信量が調整後に2％から3％増加しました;
•サービス領域内の通常の気温；
•現在の見積もりを反映した、年間の水力条件;
•ヒストリカルデータが利用できない場合、ヒストリカルデータの5年分を基にした風力発電または予測研究に基づいています;
•通常のサーマルプラントの運用;
•運営および保守費用を80億ドルから82500万ドル範囲から82000万ドルから84500万ドルの範囲に見直し、その中には2024年1月の嵐の先送り1700万ドルが含まれています。この範囲には、他の損益計算書の項目で相殺される約15000万ドルの山火事、植生管理、先送り償却費その他の経費が含まれています。
•償却および減価償却費は4億7500万ドルから5億2500万ドルの間です;
•効果的な税率は10%から15%です；
•営業キャッシュフローは7億ドルから80000万ドルになります;
•資本支出が$128500万ドルです; そして
•建設工事の進行中の平均残高は71000万ドルです。
2024年第3四半期決算説明会およびウェブキャスト ― 2024年10月25日
PGEは2024年10月25日金曜日の午前11時（東部時間）に、金融アナリストと投資家向けに会議のコールを開催します。 会議のコールはPGEのWebサイトinvestors.portlandgeneral.comでライブ配信されます。また、2024年10月25日午後2時（東部時間）にPGEの投資家向けWebサイト"Events & Presentations"ページでウェブキャストのリプレイが利用可能になります。
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マリア・ポープ、社長兼CEO；ジョー・トルピック、財務および最高財務責任者；およびニック・ホワイト、投資家関係担当マネージャーがコールに参加します。フォーマルなコメントに続いて、経営陣は質問に回答します。
添付された未監査の要約された連結損益計算書および包括損益計算書、貸借対照表およびキャッシュ・フロー計算書、さらに補足運営統計は、この収益リリースの不可欠な部分です。
非GAAP財務指標
このプレスリリースには、調整後の収益予測などの一部非GAAP指標が含まれています。 調整後の収益予測。 これらの非GAAP財務指標は、通常、我々の事業活動に関連がないか、まれであるか、またはその両方を除外しています。PGEは、これらの項目の影響を除外することが、企業の比較収益率を意味ある形で示し、投資家が企業の連続的な運用財務業績を評価できるようにすると信じています。経営陣は非GAAP指標を利用して、企業の現在および将来のパフォーマンスを評価し、株主、アナリスト、投資家とのコミュニケーションに活用しています。非GAAP財務指標は、GAAPに準拠して準備された情報に加えて検討すべき補足情報であり、代替ではありません。
Due to the forward-looking nature of PGE’s non-GAAP adjusted earnings guidance, and the inherently unpredictable nature of items and events which could lead to the recognition of non-GAAP adjustments (such as, but not limited to, regulatory disallowances or extreme weather events), management is unable to estimate the occurrence or value of specific items requiring adjustment for future periods, which could potentially impact the Company’s GAAP earnings. Therefore, management cannot provide a reconciliation of non-GAAP adjusted earnings per share guidance to the most comparable GAAP financial measure without unreasonable effort. For the same reasons, management is unable to address the probable significance of unavailable information.
# # #
About Portland General Electric Company
Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to over 930,000 customers with a service area population of approximately 1.9 million Oregonians. For more than 130 years, Portland General Electric (PGE) has been powering social progress, delivering safe, affordable, reliable and increasingly clean electricity while working to transform energy systems to meet evolving customer needs. PGE customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE was ranked the No. 1 utility in the 2024 Forrester U.S. Customer Experience Index and is committed to reducing emissions from its retail power supply by 80% by 2030 and 100% by 2040. PGE is recognized by the Bloomberg Gender-Equality Index for the company's commitment to creating a more equal, inclusive workplace. In 2023, PGE employees, retirees and the PGE Foundation donated nearly $4.6 million and volunteered over 23,000 volunteer hours to more than 400 nonprofit organizations. For more information visit www.PortlandGeneral.com/news.
Safe Harbor Statement
Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent our estimates and assumptions as of the date of this report. The Company assumes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.
Forward-looking statements include statements regarding the Company's full-year earnings guidance (including assumptions and expectations regarding annual retail deliveries, average hydro conditions, wind generation, normal
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thermal plant operations, operating and maintenance expense and depreciation and amortization expense) as well as other statements containing words such as "anticipates," "assumptions," "based on," "believes," "conditioned upon," "considers," "could," "estimates," "expects," “expected,” "forecast," "goals," "intends," "needs," "plans," "predicts," "projects," "promises," "seeks," "should," "subject to," "targets," "will continue," "will likely result," or similar expressions.
Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties, including, without limitation: the timing or outcome of various legal and regulatory actions; changing customer expectations and choices that may reduce demand for electricity; the sale of excess energy during periods of low demand or low wholesale market prices; operational risks relating to the Company's generation and battery storage facilities, including hydro conditions, wind conditions, disruption of transmission and distribution, disruption of fuel supply, and unscheduled plant outages, which may result in unanticipated operating, maintenance and repair costs, as well as replacement power costs; delays in the supply chain and increased supply costs (including application of tariffs impacting solar module imports), failure to complete capital projects on schedule or within budget, failure of counterparties to perform under agreement, or the abandonment of capital projects, which could result in the Company's inability to recover project costs, or impact our competitive position, market share, revenues and project margins in material ways; default or nonperformance of counterparties from whom PGE purchases capacity or energy, which require the purchase of replacement power and renewable attributes at increased costs; complications arising from PGE’s jointly-owned plant, including ownership changes, regulatory outcomes or operational failures; changes in, and compliance with, environmental laws and regulations, including those that govern emissions from thermal power plants; changes in weather, hydroelectric and energy market conditions, which could affect the availability, cost and required collateral for purchased power and fuel; changes in the availability and price of wholesale power and fuels; changes in customer growth, or demographic patterns, including changes in load resulting in future transmission constraints, in PGE’s service territory; changes in capital and credit market conditions, including volatility of equity markets as well as changes in PGE’s credit ratings and outlook on such credit ratings, reductions in demand for investment-grade commercial paper or interest rates, which could affect the access to and availability or cost of capital and result in delay or cancellation of capital projects or execution of the Company’s strategic plan as currently envisioned; general economic and financial market conditions, including inflation; the effects of climate change, whether global or local in nature; unseasonable or severe weather conditions, wildfires, and other natural phenomena and natural disasters that could result in operational disruptions, unanticipated restoration costs, third party liability or that may affect energy costs or consumption; the effectiveness of PGE’s risk management policies and procedures; PGE’s ability to effectively implement Public Safety Power Shutoffs (PSPS) and de-energize its system in the event of heightened wildfire risk; cybersecurity attacks, data security breaches, physical attacks and security breaches, or other malicious acts against the Company or against Company vendors, which could disrupt operations, require significant expenditures, or result in claims against the Company; employee workforce factors, including potential strikes, work stoppages, transitions in senior management, and the ability to recruit and retain key employees and other talent and turnover due to macroeconomic trends; widespread health emergencies or outbreaks of infectious diseases, which may affect our financial position, results of operations and cash flows; failure to achieve the Company’s greenhouse gas emission goals or being perceived to have either failed to act responsibly with respect to the environment or effectively responded to legislative requirements concerning greenhouse gas emission reductions; social attitudes regarding the electric utility and power industries; political and economic conditions; acts of war or terrorism; changes in financial or regulatory accounting principles or policies imposed by governing bodies; new federal, state, and local laws that could have adverse effects on operating results; and risks and uncertainties related to generation and transmission projects, including, but not limited to, regulatory processes, transmission capabilities, system interconnections, permitting and construction delays, legislative uncertainty, inflationary impacts, supply costs and supply chain constraints. As a result, actual results may differ materially from those projected in the forward-looking statements.
Risks and uncertainties to which the Company are subject are further discussed in the reports that the Company has filed with the United States Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov and on the Company’s website, investors.portlandgeneral.com. Investors should not rely unduly on any forward-looking statements.
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PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
AND COMPREHENSIVE INCOME
(Dollars in millions, except per share amounts)
(Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Revenues, net | $ | 942 | $ | 801 | $ | 2,643 | $ | 2,192 | |||||||||||||||
| Alternative revenue programs, net of amortization | (13) | 1 | (27) | 6 | |||||||||||||||||||
| Total revenues | 929 | 802 | 2,616 | 2,198 | |||||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Purchased power and fuel | 380 | 386 | 1,060 | 910 | |||||||||||||||||||
| Generation, transmission and distribution | 131 | 85 | 337 | 279 | |||||||||||||||||||
| Administrative and other | 102 | 89 | 294 | 262 | |||||||||||||||||||
| Depreciation and amortization | 126 | 116 | 369 | 340 | |||||||||||||||||||
| Taxes other than income taxes | 44 | 41 | 132 | 124 | |||||||||||||||||||
| Total operating expenses | 783 | 717 | 2,192 | 1,915 | |||||||||||||||||||
| Income from operations | 146 | 85 | 424 | 283 | |||||||||||||||||||
| Interest expense, net | 53 | 42 | 156 | 127 | |||||||||||||||||||
| Other income: | |||||||||||||||||||||||
| Allowance for equity funds used during construction | 6 | 5 | 17 | 12 | |||||||||||||||||||
| Miscellaneous income, net | 6 | 5 | 21 | 22 | |||||||||||||||||||
| Other income, net | 12 | 10 | 38 | 34 | |||||||||||||||||||
| Income before income tax expense | 105 | 53 | 306 | 190 | |||||||||||||||||||
| Income tax expense | 11 | 6 | 31 | 30 | |||||||||||||||||||
| Net income | 94 | 47 | 275 | 160 | |||||||||||||||||||
| Other comprehensive income | (1) | — | — | 1 | |||||||||||||||||||
| Net income and Comprehensive income | $ | 93 | $ | 47 | $ | 275 | $ | 161 | |||||||||||||||
Weighted-average common shares outstanding (in thousands): | |||||||||||||||||||||||
| Basic | 103,845 | 100,849 | 102,730 | 96,625 | |||||||||||||||||||
| Diluted | 104,338 | 101,103 | 102,958 | 96,830 | |||||||||||||||||||
| Earnings per share: | |||||||||||||||||||||||
| Basic | $ | 0.91 | $ | 0.47 | $ | 2.68 | $ | 1.65 | |||||||||||||||
| Diluted | $ | 0.90 | $ | 0.46 | $ | 2.67 | $ | 1.65 | |||||||||||||||
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PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
(Unaudited)
| September 30, 2024 | December 31, 2023 | ||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 35 | $ | 5 | |||||||
| Accounts receivable, net | 459 | 414 | |||||||||
| Inventories | 115 | 113 | |||||||||
| Regulatory assets—current | 185 | 221 | |||||||||
| Other current assets | 156 | 182 | |||||||||
| Total current assets | 950 | 935 | |||||||||
| Electric utility plant, net | 10,075 | 9,546 | |||||||||
| Regulatory assets—noncurrent | 619 | 492 | |||||||||
| Nuclear decommissioning trust | 35 | 31 | |||||||||
| Non-qualified benefit plan trust | 36 | 35 | |||||||||
| Other noncurrent assets | 166 | 169 | |||||||||
| Total assets | $ | 11,881 | $ | 11,208 | |||||||
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PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS, continued
(Dollars in millions)
(Unaudited)
| September 30, 2024 | December 31, 2023 | ||||||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 351 | $ | 347 | |||||||
| Liabilities from price risk management activities—current | 114 | 164 | |||||||||
| Short-term debt | — | 146 | |||||||||
| Current portion of long-term debt | 80 | 80 | |||||||||
| Current portion of finance lease obligation | 26 | 20 | |||||||||
| Accrued expenses and other current liabilities | 401 | 355 | |||||||||
| Total current liabilities | 972 | 1,112 | |||||||||
| Long-term debt, net of current portion | 4,354 | 3,905 | |||||||||
| Regulatory liabilities—noncurrent | 1,413 | 1,398 | |||||||||
| Deferred income taxes | 552 | 488 | |||||||||
| Unfunded status of pension and postretirement plans | 161 | 172 | |||||||||
| Liabilities from price risk management activities—noncurrent | 74 | 75 | |||||||||
| Asset retirement obligations | 273 | 272 | |||||||||
| Non-qualified benefit plan liabilities | 76 | 79 | |||||||||
| Finance lease obligations, net of current portion | 279 | 289 | |||||||||
| Other noncurrent liabilities | 97 | 99 | |||||||||
| Total liabilities | 8,251 | 7,889 | |||||||||
| Commitments and contingencies | |||||||||||
| Shareholders’ Equity: | |||||||||||
| Preferred stock, no par value, 30,000,000 shares authorized; none issued and outstanding as of September 30, 2024 and December 31, 2023 | — | — | |||||||||
| Common stock, no par value, 160,000,000 shares authorized; 105,455,590 and 101,159,609 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 1,938 | 1,750 | |||||||||
| Accumulated other comprehensive loss | (5) | (5) | |||||||||
| Retained earnings | 1,697 | 1,574 | |||||||||
| Total shareholders’ equity | 3,630 | 3,319 | |||||||||
| Total liabilities and shareholders’ equity | $ | 11,881 | $ | 11,208 | |||||||
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PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
| Nine Months Ended September 30, | |||||||||||
| 2024 | 2023 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Net income | $ | 275 | $ | 160 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation and amortization | 369 | 340 | |||||||||
| Deferred income taxes | 18 | (3) | |||||||||
| Pension and other postretirement benefits | 4 | 4 | |||||||||
| Allowance for equity funds used during construction | (17) | (12) | |||||||||
Alternative revenue programs | 27 | (6) | |||||||||
| Regulatory assets | (130) | 10 | |||||||||
| Regulatory liabilities | (16) | 17 | |||||||||
Tax credit sales | 31 | — | |||||||||
| Other non-cash income and expenses, net | 59 | 46 | |||||||||
| Changes in working capital: | |||||||||||
| Accounts receivable, net | (64) | 23 | |||||||||
| Inventories | (2) | (14) | |||||||||
| Margin deposits | 1 | 87 | |||||||||
| Accounts payable and accrued liabilities | 67 | (181) | |||||||||
| Margin deposits from wholesale counterparties | 2 | (133) | |||||||||
| Other working capital items, net | 28 | 20 | |||||||||
| Other, net | (44) | (27) | |||||||||
Net cash provided by operating activities | 608 | 331 | |||||||||
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PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, continued
(In millions)
(Unaudited)
| Nine Months Ended September 30, | |||||||||||
| 2024 | 2023 | ||||||||||
| Cash flows from investing activities: | |||||||||||
| Capital expenditures | $ | (876) | $ | (931) | |||||||
| Sales of Nuclear decommissioning trust securities | — | 1 | |||||||||
| Purchases of Nuclear decommissioning trust securities | (4) | (1) | |||||||||
| Proceeds from sale of properties | — | 2 | |||||||||
| Other, net | (20) | (3) | |||||||||
| Net cash used in investing activities | (900) | (932) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Proceeds from issuance of common stock | 178 | 485 | |||||||||
| Proceeds from issuance of long-term debt | 450 | 400 | |||||||||
| Payments on long-term debt | — | (260) | |||||||||
Issuance (maturities) of commercial paper, net | (146) | — | |||||||||
| Dividends paid | (148) | (131) | |||||||||
| Other | (12) | (11) | |||||||||
Net cash provided by financing activities | 322 | 483 | |||||||||
Change in cash and cash equivalents | 30 | (118) | |||||||||
| Cash and cash equivalents, beginning of period | 5 | 165 | |||||||||
| Cash and cash equivalents, end of period | $ | 35 | $ | 47 | |||||||
| Supplemental cash flow information is as follows: | |||||||||||
| Cash paid for interest, net of amounts capitalized | $ | 121 | $ | 91 | |||||||
| Cash paid (received) for income taxes, net | (14) | 25 | |||||||||
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PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
SUPPLEMENTAL OPERATING STATISTICS
(Unaudited)
| Nine Months Ended September 30, | |||||||||||||||||||||||
| 2024 | 2023 | ||||||||||||||||||||||
| Revenues (dollars in millions): | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | $ | 1,078 | 41 | % | $ | 942 | 43 | % | |||||||||||||||
| Commercial | 690 | 27 | 606 | 27 | |||||||||||||||||||
| Industrial | 321 | 12 | 258 | 12 | |||||||||||||||||||
| Direct Access | 22 | 1 | 20 | 1 | |||||||||||||||||||
| Subtotal Retail | 2,111 | 81 | 1,826 | 83 | |||||||||||||||||||
| Alternative revenue programs, net of amortization | (27) | (1) | 6 | — | |||||||||||||||||||
| Other accrued revenues, net | 10 | — | (2) | — | |||||||||||||||||||
| Total retail revenues | 2,094 | 80 | 1,830 | 83 | |||||||||||||||||||
| Wholesale revenues | 467 | 18 | 323 | 15 | |||||||||||||||||||
| Other operating revenues | 55 | 2 | 45 | 2 | |||||||||||||||||||
| Total revenues | $ | 2,616 | 100 | % | $ | 2,198 | 100 | % | |||||||||||||||
| Energy deliveries (MWhs in thousands): | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 5,720 | 24 | % | 5,949 | 28 | % | |||||||||||||||||
| Commercial | 4,917 | 20 | 4,995 | 23 | |||||||||||||||||||
| Industrial | 3,715 | 16 | 3,380 | 16 | |||||||||||||||||||
| Subtotal | 14,352 | 60 | 14,324 | 67 | |||||||||||||||||||
| Direct access: | |||||||||||||||||||||||
| Commercial | 390 | 2 | 442 | 2 | |||||||||||||||||||
| Industrial | 1,385 | 6 | 1,307 | 6 | |||||||||||||||||||
| Subtotal | 1,775 | 8 | 1,749 | 8 | |||||||||||||||||||
| Total retail energy deliveries | 16,127 | 68 | 16,073 | 75 | |||||||||||||||||||
| Wholesale energy deliveries | 7,652 | 32 | 5,295 | 25 | |||||||||||||||||||
| Total energy deliveries | 23,779 | 100 | % | 21,368 | 100 | % | |||||||||||||||||
| Average number of retail customers: | |||||||||||||||||||||||
| Residential | 828,067 | 88 | % | 814,773 | 88 | % | |||||||||||||||||
| Commercial | 113,330 | 12 | 112,210 | 12 | |||||||||||||||||||
| Industrial | 206 | — | 195 | — | |||||||||||||||||||
| Direct access | 500 | — | 538 | — | |||||||||||||||||||
| Total | 942,103 | 100 | % | 927,716 | 100 | % | |||||||||||||||||
10
PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
SUPPLEMENTAL OPERATING STATISTICS, continued
(Unaudited)
| Nine Months Ended September 30, | |||||||||||||||||||||||
| 2024 | 2023 | ||||||||||||||||||||||
| Sources of energy (MWhs in thousands): | |||||||||||||||||||||||
| Generation: | |||||||||||||||||||||||
| Thermal: | |||||||||||||||||||||||
| Natural gas | 7,989 | 35 | % | 7,746 | 38 | % | |||||||||||||||||
| Coal | 1,331 | 6 | 1,629 | 8 | |||||||||||||||||||
| Total thermal | 9,320 | 41 | 9,375 | 46 | |||||||||||||||||||
| Hydro | 956 | 4 | 865 | 4 | |||||||||||||||||||
| Wind | 2,315 | 10 | 1,644 | 8 | |||||||||||||||||||
| Total generation | 12,591 | 55 | 11,884 | 58 | |||||||||||||||||||
| Purchased power: | |||||||||||||||||||||||
| Hydro | 5,088 | 22 | 3,622 | 18 | |||||||||||||||||||
| Wind | 1,072 | 5 | 699 | 3 | |||||||||||||||||||
| Solar | 932 | 4 | 935 | 4 | |||||||||||||||||||
| Natural Gas | 94 | — | 145 | 1 | |||||||||||||||||||
| Waste, Wood, and Landfill Gas | 132 | 1 | 116 | 1 | |||||||||||||||||||
| Source not specified | 3,083 | 13 | 3,056 | 15 | |||||||||||||||||||
| Total purchased power | 10,401 | 45 | 8,573 | 42 | |||||||||||||||||||
| Total system load | 22,992 | 100 | % | 20,457 | 100 | % | |||||||||||||||||
| Less: wholesale sales | (7,652) | (5,295) | |||||||||||||||||||||
| Retail load requirement | 15,340 | 15,162 | |||||||||||||||||||||
The following table indicates the number of heating degree-days for the three and nine months ended September 30, 2024 and 2023, along with 15-year averages based on weather data provided by the National Weather Service, as measured at Portland International Airport:
| Heating Degree-days | Cooling Degree-days | ||||||||||||||||||||||||||||||||||
| 2024 | 2023 | Avg. | 2024 | 2023 | Avg. | ||||||||||||||||||||||||||||||
| First Quarter | 1,755 | 1,927 | 1,838 | — | — | — | |||||||||||||||||||||||||||||
| Second Quarter | 547 | 554 | 608 | 108 | 195 | 108 | |||||||||||||||||||||||||||||
| July | — | — | 6 | 300 | 269 | 201 | |||||||||||||||||||||||||||||
| August | 4 | 1 | 4 | 224 | 327 | 227 | |||||||||||||||||||||||||||||
| September | 32 | 44 | 52 | 119 | 91 | 86 | |||||||||||||||||||||||||||||
| Third Quarter | 36 | 45 | 62 | 643 | 687 | 514 | |||||||||||||||||||||||||||||
| Year-to-date | 2,338 | 2,526 | 2,508 | 751 | 882 | 622 | |||||||||||||||||||||||||||||
(Decrease) increase from the 15-year average | (7) | % | 1 | % | 21 | % | 42 | % | |||||||||||||||||||||||||||
11