展示99.1
 | 波特兰通用电气 One World Trade Center 121 西南萨蒙街 俄勒冈州波特兰97204 新闻稿 | |||||||
| 2024年10月25日 | ||||||||
| 媒体联系人： | 投资者联系人： | |||||||
Drew Hanson | Nick White | |||||||
| 企业通讯 | 投资者关系 | |||||||
电话：503-464-2067 | 电话：503-464-8073 | |||||||
波特兰通用电气宣布2024年第三季度业绩
•第三季度业绩反映出电力成本状况改善，以及来自高科技和idc概念客户持续强劲的需求增长。
•将2024年调整后的每股收益指导从$2.98至$3.18缩小到修订后的区间，每股稀释后在$3.08和$3.18之间，以反映迄今为止的表现
俄勒冈波特兰-- 波特兰通用电气公司 (纽交所: POR) 今日根据通用会计准则（GAAP）报告，2024年第三季度的净利润为9400万美元，每股摊薄收益为0.90美元。相比之下，2023年第三季度的GAAP净利润为4700万美元，每股摊薄收益为0.46美元。
“我们专注于运营卓越，以及西部电价条件的改善，这些是我们坚实第三季度业绩的基石，”PGE总裁兼首席执行官Maria Pope表示。“在我们持续进行的RFP中，我们正在取得实质性进展，以确保下一代可靠、清洁、具有成本效益的资源，支持客户增长，并推动我们共同的脱碳目标。”
2024年三季度与2023年三季度相比
由于半导体制造业和技术基础设施客户需求增长，批发收入增加以及资本、运营和电力成本的恢复，总收入有所增加。 但由于天气原因住宅和商业用电减少，总收入部分抵消。 由于购电价格下降，购电和燃料费用略有减少。 由于更高的发电和网络维护、服务恢复工作、工资福利以及与2024年1月风暴和损坏延期相关的收益测试递延释放，营业和行政费用增加。 由于持续的资本投资，折旧与摊销费用和利息费用增加。
公司更新
2023年所有板块请求更新
正如之前宣布的那样，PGE于2024年9月17日向俄勒冈州公用事业委员会（OPUC）提交了2023年全方位请求的最终招标人名单确认请求。最终名单分为两组，代表了建议获得监管确认的项目，包括可再生能源和无排放能力。
可再生资源提案提供各种太阳能和电池存储期权的组合，包括通过购电协议（PPA）以及公司自有资源通过建设与转让协议。
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（BTA）。对于无排放的可调度容量资源的方案提供了包括电池存储期权在内的购电协议，以及通过BTA拥有的公司资源。RFP流程的最终结果可能涉及选择多个可再生能源和无排放的可调度容量资源项目。
PGE正在与最终入围项目进行商务谈判，并要求OPUC在2024年11月19日之前承认RFP最终入围名单。
2025年一般费率审查
PGE和相关方将继续推进2025年普通费率案的工作，监管审查预计将持续到2024年。最终订单预计将于2024年12月由OPUC发布，新客户价格将于2025年1月1日生效。
第一大自愿可再生能源计划
15年来，PGE的自愿可再生能源计划“绿色未来”连续第15年被美国能源部国家可再生能源实验室评为美国任何电力公用事业中企业和居民客户参与度最高的可再生能源计划。
季度股息
根据先前公布的消息，波特兰通用电气公司董事会批准了每股0.50美元的季度普通股股息。季度股息将于2025年1月15日或之前支付给2024年12月24日营业结束时的股东。
2024年收益预测
PGE正在将2024年全年调整后的盈利指引范围缩小至 $2.98至$3.18调整为 在以下假设基础上调整为 $3.08至$3.18每股摊薄收益。
•排除2024年1月冬季风暴影响，包括不可推迟的可靠性应急事件（RCE）费用；
•能源交付量增加2％至3％，经过天气调整；
•在其服务领域内，温度正常；
•反映目前预估的年度水力条件；
•基于五年历史数据或预测研究的风电发电量，当历史数据不可用时；
•常规的热电站运营；
•将从8亿美元至82500万美元的营运和维护费用修订为从82000万美元至84500万美元的区间，其中包括从2024年1月风暴推迟释放的1700万美元。该区间包括约15000万美元的山火、植被管理、推迟摊销和其他费用，这些费用在其他损益表项目中得到抵消；
•折旧和摊销费用在47500万至52500万之间；
•有效税率为10%至15%。
•现金流操作额为$700到$8,000万；
•资本支出为$128500万元；以及
•施工工程进行中的平均余额为71000万美元。
2024年第三季度业绩会和网络广播 - 2024年10月25日
PGE将于2024年10月25日星期五上午11点（东部时间）与财务分析师和投资者举行电话会议。 电话会议将在PGE网站investors.portlandgeneral.com上进行直播。 网页直播重播也将于2024年10月25日东部时间下午2点开始在PGE的投资者网站"事件和演示"页面上提供。
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Maria Pope，总裁兼首席执行官； Joe Trpik，财务高级副总裁和首席财务官；以及投资者关系经理Nick White将参加此次看涨。管理层在正式评论后将回答问题。
附加的未经审计的简明合并损益表和综合损益表、资产负债表和现金流量表以及补充运营统计数据是本财报的组成部分。
非依照普遍公认会计准则的财务措施
这份新闻稿包含一些非通用会计准则的指标，比如 调整后的盈利指引。 这些非GAAP财务指标不包括通常与我们持续业务活动无关、性质不定或两者都有的重要事项。PGE认为，排除这些项目的影响提供了公司的比较每股收益的有意义的表示，并使投资者能够评估公司的持续运营财务表现。管理层利用非GAAP指标评估公司的当前和预测绩效，并与股东、分析师和投资者进行沟通。非GAAP财务指标是应该作为补充信息考虑的，但不能替代按照GAAP准则编制的信息。
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