Portland General Electric Company (POR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el electrizante mundo de Portland General Electric Company (POR), donde la innovación cumple con la transformación de energía sostenible. Este lienzo de modelo comercial integral revela cómo un proveedor de energía regional navega por el complejo paisaje de la generación de electricidad moderna, combinando la infraestructura tradicional con tecnologías renovables de vanguardia. Desde presas hidroeléctricas hasta instalaciones solares, POR demuestra un enfoque estratégico que equilibra la distribución de energía confiable, la administración ambiental y el avance tecnológico, creando un plan para la gestión de servicios públicos centrados en el futuro que va mucho más allá de la mera transmisión de electricidad.

Portland General Electric Company (POR) - Modelo de negocios: asociaciones clave

Asociación de Administración de Power de Bonneville

Portland General Electric (POR) mantiene una asociación de transmisión crítica con Bonneville Power Administration (BPA). A partir de 2023, BPA proporciona aproximadamente el 40% de la infraestructura de transmisión de energía regional de POR.

Métrico de asociación	Datos cuantitativos
Capacidad de transmisión anual	3.700 megavatios
Duración de la asociación	Más de 25 años
Cobertura de transmisión	Regiones de Oregon y Washington

Fabricantes de equipos de energía solar y eólica

POR colabora con múltiples fabricantes de equipos de energía renovable para expandir su cartera de energía verde.

• First Solar: proporciona tecnologías de módulos fotovoltaicos
• Vestas Wind Systems: suministra equipos de turbina eólica
• SunPower Corporation: ofrece paneles solares de alta eficiencia

Fabricante	Suministro anual de equipos	Valor de contrato
Primero solar	Módulos solares de 125 MW	$ 42.3 millones
Vestas	Turbinas eólicas de 200 MW	$ 68.7 millones
Sol	Paneles solares de 90 MW	$ 35.6 millones

Operadores locales de servicios públicos y redes energéticas

POR mantiene asociaciones estratégicas con redes de servicios públicos regionales para garantizar una distribución de energía estable.

• Agua Eugene & Tabla eléctrica
• Poder del Pacífico
• Idaho Power Company

Organizaciones de conservación ambiental

POR colabora con grupos ambientalistas para apoyar el desarrollo de energía sostenible y la preservación ecológica.

Organización	Enfoque de asociación	Inversión anual
La conservación de la naturaleza	Restauración del hábitat	$ 1.2 millones
Consejo Ambiental de Oregon	Política energética limpia	$750,000

Empresas de desarrollo de tecnología e infraestructura

POR se asocia con las compañías de tecnología para mejorar la modernización de la red y las soluciones de energía inteligente.

• ITRON Inc. - Tecnologías de medición inteligente
• Schneider Electric - Sistemas de gestión de cuadrícula
• Grupo ABB - Infraestructura de transmisión de energía

Socio tecnológico	Enfoque tecnológico	Valor de contrato
Itron Inc.	Infraestructura de medición avanzada	$ 22.5 millones
Schneider Electric	Software de optimización de la red	$ 18.9 millones
Grupo ABB	Equipo de transmisión de energía	$ 35.4 millones

Portland General Electric Company (POR) - Modelo de negocio: actividades clave

Generación de energía eléctrica de diversas fuentes

A partir de 2024, Portland General Electric (PGE) opera una capacidad de generación total de 1.880 MW en múltiples fuentes:

Fuente de generación	Capacidad (MW)	Porcentaje
Gas natural	1,043	55.5%
Hidroeléctrico renovable	410	21.8%
Viento	260	13.8%
Solar	167	8.9%

Mantenimiento de la cuadrícula y gestión de infraestructura

PGE maneja:

• 6,645 millas de circuito de líneas de transmisión y distribución
• 1.9 millones de medidores eléctricos en servicio
• Inversión anual de infraestructura de $ 272 millones en 2023

Servicios energéticos del cliente y programas de eficiencia

Programas de eficiencia energética de PGE en 2023:

• $ 43.6 millones invertidos en iniciativas de eficiencia energética
• Logró 116,516 MWh de ahorro de energía
• Atendió a 891,000 clientes en todo Oregon

Desarrollo del proyecto de energía renovable

Inversiones continuas de energía renovable:

• $ 575 millones comprometidos con proyectos de energía renovable
• Objetivo de la cartera de energía renovable del 50% para 2030
• 5 proyectos activos de desarrollo solar y eólico

Iniciativas de cumplimiento y sostenibilidad regulatoria

Cumplimiento y métricas de sostenibilidad:

Métrico	Valor 2024
Objetivo de reducción de emisiones de carbono	80% para 2030
Gasto de cumplimiento regulatorio	$ 89.3 millones
Presupuesto del programa de sostenibilidad	$ 62.7 millones

Portland General Electric Company (POR) - Modelo de negocio: recursos clave

Instalaciones de generación de energía hidroeléctrica, eólica y solar

A partir de 2024, Portland General Electric (POR) opera las siguientes instalaciones de generación:

Tipo de generación	Capacidad total (MW)	Número de instalaciones
Hidroeléctrico	382 MW	7 instalaciones
Viento	217 MW	3 instalaciones
Solar	56 MW	2 instalaciones

Infraestructura de cuadrícula avanzada y tecnología de medición inteligente

La infraestructura de la red inteligente de POR incluye:

• Aproximadamente 1.9 millones de unidades de infraestructura de medición avanzada (AMI) implementadas
• Sistemas de monitoreo de cuadrícula en tiempo real que cubren el 89% del territorio de servicio
• $ 245 millones invertidos en modernización de la red entre 2020-2023

Ingeniería especializada y fuerza laboral técnica

Métricas de la fuerza laboral	Valor
Total de empleados	2,743
Años promedio de experiencia	14.6 años
Empleados con títulos técnicos avanzados	387

Extensas redes de transmisión y distribución

Detalles de la infraestructura de red:

• Líneas de transmisión totales: 4,287 millas de circuito
• Líneas de distribución: 14,629 millas de circuito
• Área de servicio: 4.009 millas cuadradas en Oregon

Capacidades de capital financiero y de inversión sólidos

Métrica financiera	Valor 2024
Activos totales	$ 6.3 mil millones
Gastos de capital anuales	$ 587 millones
Equivalentes de efectivo y efectivo	$ 214 millones

Portland General Electric Company (POR) - Modelo de negocio: propuestas de valor

Suministro de energía eléctrica confiable y consistente

Portland General Electric atiende a aproximadamente 901,000 clientes en 51 ciudades de Oregon. En 2022, la Compañía informó una tasa de confiabilidad de energía del 99.9%, con una duración de interrupción promedio de 74 minutos por cliente anualmente.

Métrico	Valor
Total de clientes	901,000
Ciudades del área de servicio	51
Tasa de confiabilidad de energía	99.9%
Duración de interrupción anual promedio	74 minutos

Compromiso con fuentes de energía sostenibles y renovables

PGE se ha comprometido a objetivos de energía renovable al 100% para 2040. A partir de 2022, la cartera de energía renovable de la compañía consistió en:

• Energía eólica: 37%
• Energía solar: 12%
• Energía hidroeléctrica: 28%
• Otras fuentes renovables: 23%

Soluciones innovadoras de eficiencia energética para clientes

En 2022, PGE invirtió $ 45.2 millones en programas de eficiencia energética, ayudando a los clientes a reducir el consumo de energía en 132,000 MWH.

Inversión de eficiencia energética	Ahorro de energía
$ 45.2 millones	132,000 MWH

Precios competitivos y facturación transparente

La tasa de electricidad residencial promedio de PGE en 2022 fue de $ 0.10 por kWh, que está por debajo del promedio nacional de $ 0.14 por kWh.

Infraestructura tecnológica avanzada para las necesidades de energía moderna

PGE ha implementado 850,000 medidores inteligentes, permitiendo monitoreo de consumo de energía en tiempo real y capacidades avanzadas de gestión de redes.

Implementación de medidores inteligentes	Beneficio del cliente
850,000 medidores inteligentes	Seguimiento de consumo de energía en tiempo real

Portland General Electric Company (POR) - Modelo de negocios: relaciones con los clientes

Plataformas de servicio al cliente digital

Portland General Electric proporciona servicio al cliente en línea a través de sus plataformas digitales con las siguientes métricas:

Plataforma digital	Estadísticas de uso
Administración de cuentas en línea	El 87% de los clientes usan plataformas digitales para el pago de facturas
Descargas de aplicaciones móviles	342,000 usuarios de aplicaciones móviles activas a partir de 2023
Tráfico del sitio web	1.2 millones de visitantes mensuales del sitio web

Análisis de uso de energía personalizado

PGE ofrece un seguimiento detallado de consumo de energía con características específicas:

• Monitoreo de uso de energía en tiempo real para el 65% de los clientes residenciales
• Recomendaciones personalizadas de eficiencia energética
• Desglose de consumo detallado disponible a través de plataformas digitales

Programas de participación y educación comunitaria

Programa	Métricas de participación
Talleres de educación energética	48 talleres comunitarios realizados en 2023
Programas de energía escolar	37 escuelas participaron en iniciativas de educación energética
Proyectos solares comunitarios	$ 2.3 millones invertidos en programas solares comunitarios

Canales de atención al cliente receptivos

Detalles de la infraestructura de atención al cliente:

• Centro de llamadas de servicio al cliente 24/7 con una tasa de resolución de primer nivel del 92%
• Tiempo de respuesta promedio: 7.2 minutos para canales de soporte digital
• Calificación de satisfacción del cliente: 4.6/5 basado en encuestas de 2023

Comunicación proactiva sobre servicios energéticos

Canal de comunicación	Métricas de compromiso
Notificaciones por correo electrónico	El 78% de los clientes optaron por las comunicaciones por correo electrónico
Servicios de alerta de texto	215,000 clientes registrados para notificaciones de texto
Comunicación de interrupción	95% de precisión de informes de interrupción en tiempo real

Portland General Electric Company (POR) - Modelo de negocio: canales

Portal de clientes en línea y aplicación móvil

La plataforma digital de Portland General Electric atiende a 890,000 clientes en Oregon. La aplicación móvil tiene 247,000 usuarios mensuales activos a partir de 2023. Las métricas de participación digital muestran que el 68% de las interacciones del cliente ocurren a través de canales en línea.

Canal digital	Estadísticas de uso	Volumen de transacción anual
Portal de clientes en línea	890,000 usuarios registrados	4.2 millones de transacciones digitales
Aplicación móvil	247,000 usuarios activos mensuales	1.8 millones de interacciones móviles

Centros de servicio al cliente físico

PGE mantiene 7 centros de servicio al cliente físico en Oregon, con ubicaciones principales en Portland, Salem y Eugene.

• Ubicaciones totales de los centros de servicio físico: 7
• Interacciones anuales de cliente en persona: 126,000
• Duración promedio del centro de servicio al cliente de la visita: 22 minutos

Equipos directos de ventas y marketing

PGE emplea a 86 representantes de ventas directas dirigidas a clientes de energía comercial e industrial. El equipo de ventas genera $ 124 millones en ingresos anuales de interacciones comerciales directas.

Plataformas de facturación y comunicación digital

Canal de comunicación	Tasa de adopción de usuarios	Volumen de comunicación anual
Facturación electrónica	72% de adopción del cliente	3.6 millones de facturas digitales enviadas
Comunicaciones por correo electrónico	81% de preferencia del cliente	5,4 millones de correos electrónicos distribuidos

Eventos de divulgación comunitaria y educación energética

PGE realiza 42 eventos de educación energética comunitaria anualmente, llegando a aproximadamente 16.500 participantes.

• Eventos comunitarios anuales totales: 42
• Alcance participante: 16,500 individuos
• Inversión en programas comunitarios: $ 1.2 millones

Portland General Electric Company (POR) - Modelo de negocio: segmentos de clientes

Consumidores de electricidad residencial

A partir de 2023, Portland General Electric atiende a aproximadamente 900,000 clientes residenciales en 51 ciudades de Oregon. El segmento de clientes residenciales representa el 63% de la base total de clientes.

Tipo de cliente	Número de clientes	Porcentaje de total
Casas unifamiliares	670,000	74.4%
Residencias multifamiliares	180,000	20%
Residencial rural	50,000	5.6%

Clientes comerciales e industriales

POR sirve a 83,000 clientes comerciales e industriales, representando el 35% de las ventas totales de electricidad.

• Empresas de tecnología: 22,000 clientes
• Empresas de fabricación: 18,500 clientes
• Establecimientos minoristas: 25,000 clientes
• Complejos de oficina: 17.500 clientes

Instituciones municipales y gubernamentales

Los clientes municipales representan el 2% de la base total de clientes, con 15,000 cuentas institucionales.

Tipo de institución	Número de clientes
Edificios del gobierno local	8,500
Escuelas y universidades	4,200
Infraestructura pública	2,300

Usuarios de energía agrícola y rural

Los clientes agrícolas comprenden 3.500 cuentas, ubicadas principalmente en las regiones rurales de Oregon.

• Granjas: 2.700 clientes
• Sistemas de riego: 500 clientes
• Instalaciones de procesamiento agrícola: 300 clientes

Organizaciones centradas en la energía renovable

POR admite 1.200 clientes centrados en la energía renovable a través de programas especializados.

Tipo de cliente de energía renovable	Número de clientes
Desarrolladores de proyectos solares	350
Compañías de energía eólica	250
Consultores de energía verde	600

Portland General Electric Company (POR) - Modelo de negocio: Estructura de costos

Generación de energía y mantenimiento de infraestructura

Costos anuales de mantenimiento de la infraestructura: $ 187.3 millones en 2022

Categoría de activos	Gasto de mantenimiento
Instalaciones de generación	$ 92.6 millones
Redes de transmisión	$ 45.7 millones
Sistemas de distribución	$ 49 millones

Salarios y capacitación de los empleados

Gastos totales de personal en 2022: $ 214.5 millones

• Salario promedio de empleados: $ 95,300
• Inversión de capacitación anual: $ 3.2 millones
• Fuerza laboral total: 2,254 empleados

Cumplimiento regulatorio e inversiones ambientales

Gasto total de cumplimiento ambiental: $ 63.4 millones en 2022

Área de cumplimiento	Inversión
Reducción de emisiones	$ 28.6 millones
Monitoreo ambiental	$ 19.2 millones
Informes regulatorios	$ 15.6 millones

Tecnología y desarrollo de infraestructura digital

Inversión de transformación digital: $ 41.7 millones en 2022

• Tecnología de la red inteligente: $ 22.3 millones
• Infraestructura de ciberseguridad: $ 9.4 millones
• Plataformas digitales del cliente: $ 10 millones

Investigación y desarrollo de energía renovable

Gastos totales de I + D: $ 37.6 millones en 2022

Enfoque de energía renovable	Inversión de I + D
Tecnología solar	$ 14.2 millones
Energía eólica	$ 12.8 millones
Almacenamiento de energía	$ 10.6 millones

Portland General Electric Company (POR) - Modelo de negocios: flujos de ingresos

Venta de electricidad residencial

En 2022, Portland General Electric reportó ingresos por ventas de electricidad residencial de $ 1,040 millones. La tarifa promedio de electricidad residencial fue de $ 0.1056 por kilovatio-hora.

Segmento de clientes residenciales	Ingresos (2022)	Número de clientes
Venta de electricidad residencial	$1,040,000,000	868,800

Contratos de energía comercial e industrial

Las ventas de electricidad comercial e industrial generaron $ 912 millones en ingresos para PGE en 2022.

Segmento comercial	Ingresos (2022)	Valor de contrato promedio
Contratos de energía comercial	$912,000,000	$145,000

Créditos de energía renovable

PGE generó $ 45.2 millones a partir de ventas de crédito de energía renovable en 2022.

• Créditos totales de energía renovable vendida: 752,000 MWh
• Precio de crédito promedio: $ 60.11 por MWH

Tarifas del programa de eficiencia energética

Las tarifas del programa de eficiencia energética contribuyeron con $ 37.5 millones a los ingresos de PGE en 2022.

Tipo de programa	Ganancia	Participantes
Programas de eficiencia energética	$37,500,000	42,600

Servicios de cuadrícula e ingresos por transmisión

Los servicios de cuadrícula y los ingresos por transmisión alcanzaron los $ 128.3 millones en 2022.

• Ingresos de servicios de transmisión: $ 89.4 millones
• Servicios de equilibrio de cuadrícula: $ 38.9 millones

Flujos de ingresos anuales totales: $ 2,163,000,000

Portland General Electric Company (POR) - Canvas Business Model: Value Propositions

Portland General Electric Company delivers reliable, regulated electricity service, underpinned by strategic investments in grid modernization and clean energy capacity.

Reliable, regulated electricity service is a core promise, supported by infrastructure enhancements like battery storage projects.

Reliability Metric/Investment	2024 Achievement/2025 Projection	Context
Total Battery Capacity	Exceed 500 MW by 2025	Supports renewable integration and reliability
New Storage Capacity Added in 2024	292 MW (Constable, Sundial, Coffee Creek)	Increased availability and reliability of renewable portfolio
Energy Mix from Non-Emitting Sources (2024)	45%	Represents a 7% compounded annual growth rate since 2020

The path to a clean energy future is defined by aggressive, legislatively-backed decarbonization targets.

• Reduce greenhouse gas emissions from power served to retail customers by at least 80% by 2030.
• Achieve zero greenhouse gas emissions from power served to customers by 2040.
• Achieve net-zero greenhouse gas emissions across company operations by 2040.

Portland General Electric Company is actively powering high-growth industrial load, a key demand driver in the service territory.

Industrial customers accounted for 32% of retail deliveries in 2024, demonstrating an impressive 8.2% compound annual growth rate from 2019 to 2024. The industrial load mix is heavily weighted toward high-tech sectors; approximately 25% of that load comes specifically from data centers and artificial intelligence operations. The company noted a 16.5% year-over-year increase in industrial load in the second quarter of 2025 alone. This growth aligns with state incentives supporting semiconductor investment.

Energy efficiency and demand response programs offer customers a path for cost control and grid flexibility.

• In 2024, 24% of Portland General Electric Company's residential households participated in voluntary programs.
• This participation resulted in a demand reduction of more than 100-megawatt during a two-day heatwave in July.
• This reduction equated to the energy used by 90,000 homes over a four-hour period.

Voluntary renewable energy programs are a significant value proposition, showing leading customer adoption.

Portland General Electric Company's Green Future program has achieved the No. 1 ranking from the U.S. Department of Energy's National Renewable Energy Laboratory for the largest customer participation among U.S. electric utilities for 15 years in a row (as of 2024). As of October 2024, more than 225,000 residential and business customers were enrolled. Through this program, $19 million has been distributed to 91 local renewable energy projects across Oregon, generating 17 MW of renewable power to date.

Portland General Electric Company (POR) - Canvas Business Model: Customer Relationships

Portland General Electric Company (POR) manages customer relationships heavily influenced by regulatory oversight and targeted assistance programs, especially given the recent rate adjustments.

Regulated service agreements and tariff-based pricing

Your rates are set through a regulated process with the Oregon Public Utility Commission (PUC). For 2025, the residential rate increase, effective January 1, 2025, was approved at 5.5%. This followed an initial request of 10.9% that was revised down from an earlier 7.4% proposal. This 5.5% residential increase translates to an estimated $8 per month or $96 more per year for the average Oregon resident. This hike follows significant previous increases: 18% in 2024, 7% in 2023, 11% in 2022, and 2% in 2020. The overall revenue increase approved for January 1, 2025, totaled $188 million.

The approved rate changes for January 1, 2025, resulted in the following average increases by customer class:

Customer Class	Average Rate Increase (Effective Jan 1, 2025)
Residential	5.6%
Commercial	7.6%
Industrial	6.0%

The residential rate change breakdown includes 1.9% for increased power costs, 1.1% for mandated Energy Trust of Oregon funding, and 2.5% for capital investments and upgrades. Industrial energy deliveries have surged 34.7% (or 34.3% weather-adjusted) over the last five years, driven by semiconductor manufacturing and data centers.

Specific tariff adjustments for 2025 include:

• Schedule 136 (Oregon Community Solar Program) revenue increase of $2.8 million, impacting an estimated 953,000 forecasted average customers.
• Schedule 123 (Decoupling Adjustment) revenue decrease of $4.5 million, impacting an estimated 953,000 forecasted customers.
• Schedule 126 (Annual Power Cost Variance Mechanism) price set to zero.

Community Benefits & Impacts Advisory Group (CBIAG) for feedback

Portland General Electric Company established the Community Benefits & Impacts Advisory Group (CBIAG) in 2023 to align with Oregon House Bill 2021 requirements. The group convenes monthly. Portland General Electric Company submitted its inaugural CBIAG Biennial Report on November 7, 2025. The CBIAG provides feedback on several key areas:

• Customer affordability, leading to improvements in the Income-Qualified Bill Discount program.
• Opportunities to increase contracting with businesses owned by women, veterans, or Black, Indigenous, or People of Color.
• Actions within environmental justice communities to improve resilience during adverse conditions.
• Distribution of infrastructure or grid investments and upgrades in environmental justice communities.

This group is an inclusive forum prioritizing feedback from members within the service area, including low-income and environmental justice communities.

Income-Qualified Bill Discount and customer assistance programs

Portland General Electric Company offers the Income-Qualified Bill Discount (IQBD) program, providing a monthly discount between 15% and 80% off energy use, depending on household size and income. The company continues to work to increase enrollment in IQBD. For the most vulnerable, lowest-income IQBD customers, Portland General Electric Company is forgiving up to $1000 in past-due balances.

Proposed enhancements for 2025 include increasing the discount for Tier A (0-5% State Median Income or SMI) from 60% to 80% and Tier B (6-15% SMI) from 40% to 50%. This enhancement is expected to affect approximately 25,000 IQBD enrollees and increase the cost of remaining 2025 discounts by about $4 million. The total portfolio of assistance, including IQBD and funding passed through to the Energy Trust of Oregon (ETO), amounts to $259 million, representing about 8% of total collections in 2025. Funding passed through to ETO has nearly doubled from $79 million in 2021 to over $140 million in 2025. Separately, Oregon expected to receive about $39.4 million (or 90% of the total $40.4 million awarded) in federal LIHEAP funds.

Temporary customer protections included suspending disconnections for IQBD customers through March 31, 2025.

Digital self-service portals and mobile app for account management

Portland General Electric Company provides digital tools to help customers manage their energy use and costs. These include usage dashboards and other resources to help customers take control of their energy. The company is implementing a comprehensive 2025 Community Engagement Strategy that summarizes programs across four focus areas.

Dedicated account managers for large commercial and industrial clients

The relationship structure includes dedicated account management for large commercial and industrial clients, a segment whose energy deliveries have grown 34.7% (weather-adjusted) over the last five years, primarily from data centers and semiconductor manufacturing. The 2025 rate review decision included a proposal to fairly allocate the cost and risk of serving large amounts of electricity to new industrial customers.

Portland General Electric Company (POR) - Canvas Business Model: Channels

Physical transmission and distribution network across the service area

Portland General Electric Company operates within Oregon, serving approximately 950,000 retail customers, which represents a service area population of 1.9 million Oregonians across 51 incorporated cities and seven counties.

Network Component	Metric	Value (As of Year-End 2024/Latest Data)
Total Utility Plant Assets	Amount	$15,430 million
Circuit Miles of Transmission Lines	Length	1,269 circuit miles
Circuit Miles of Distribution Lines	Length	28,920.16 circuit miles
Projected 2025 Capital Expenditures	Amount	$1.3 billion

The service area covers approximately 4,000 square miles.

Customer service centers and call centers for support

Support channels are available via dedicated phone lines for general service and emergencies. The company employed 2,957 people at year-end 2024.

• General Customer Service Hours: 7am-7pm, Monday - Friday
• General Service Phone: 503-228-6322 or 800-542-8818
• Outages, Emergencies & Power Problems Phone: 503-464-7777 or 800-544-1795 (24 Hours)

Digital channels: website, mobile app, and email communications

Digital interaction points support account management, bill payment, and outage information access. The company utilizes platforms like Snowflake, Google Cloud, and NoSQL databases.

Direct field service teams for maintenance and outage response

Maintenance and operational expenses are managed through internal teams. Operating and maintenance expense for 2025 is estimated between $795 million and $815 million, which includes approximately $135 million of wildfire and vegetation management expenses.

Regulatory filings and public hearings for rate changes

Rate changes are channeled through the Public Utility Commission of Oregon (OPUC). The January 1, 2025, rate changes resulted from the OPUC decision on the 2025 rate review.

Rate Adjustment Component (Effective Jan 1, 2025)	Overall Revenue Impact	Average Residential Increase
UE 435 General Rate Revision	$188 million overall revenue increase	5.6%
Approved Revenue Requirement Increase (Total)	$98 million	N/A
Residential Increase for Capital Investments/Upgrades	N/A	2.5%

The company reaffirmed its 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share.

Additional recovery requests channeled through regulatory filings include:

• Seaside Battery Energy Storage System: Annualized revenue requirement increase of $46 million, proposed effective October 31, 2025.
• Distribution System Plan (DSP) Recovery: Annualized revenue requirement increase of $72 million, proposed effective April 1, 2026.

Portland General Electric Company (POR) - Canvas Business Model: Customer Segments

Portland General Electric Company (PGE) serves a customer base of over 950,000 retail customers across its service territory in Oregon, which covers an area population of approximately 1.9 million Oregonians.

The customer segments are primarily categorized based on size and energy usage profile, reflecting the utility's regulated structure under the Public Utility Commission of Oregon (OPUC). The service territory spans 51 incorporated cities over 4,000 square miles.

The breakdown of retail customers by class, based on the first quarter of 2025 data, shows a clear dominance of residential accounts:

• Residential customers make up approximately 88% of the total retail customer count.
• Commercial customers account for about 12% of the total retail customer count.

Here's a look at the customer counts from the first quarter of 2025, which gives you a concrete idea of the scale:

Customer Segment	Average Number of Retail Customers (Q1 2025)	Percentage of Total Retail Customers (Q1 2025)
Residential customers	837,109	88%
Commercial customers	114,191	12%
Industrial customers	Data not explicitly provided as a count in the same Q1 2025 table snippet	Implied small percentage of customer count, but significant energy usage

The Industrial customer segment, while representing a small fraction of the total customer count, drives a disproportionately large share of revenue and load. For instance, based on 2024 data, Industrial customers accounted for 32% of retail energy deliveries. This segment includes high-tech and semiconductor manufacturing operations, which are key growth drivers for Portland General Electric Company.

The focus on high-tech load is intense right now. You see this clearly in the recent performance metrics:

• Third quarter 2025 financial results reflected continued demand growth from data center customers, which drove 13% industrial load growth quarter-over-quarter.
• In the second quarter of 2025, industrial load growth was reported at 16.5% quarter-over-quarter, primarily fueled by data centers and high-tech customers.
• The industrial load mix is heavily weighted toward these high-demand users, with approximately 50% coming from semiconductor and high-tech industries and 25% from data centers and artificial intelligence operations.

The overall actual load increased by 5.5% in the third quarter of 2025, with a weather-adjusted increase of 7.3%, largely driven by these industrial customers. This growth is supported by Oregon's state incentives for the semiconductor industry, involving over $500 million in grants, loans, and tax credits.

Communities and municipalities within the service territory are served alongside the retail and commercial base. Portland General Electric Company supports these communities through initiatives like the Green Futures program, where over 225,000 customers participate, paying about $7 extra each month to support local renewable energy projects. This program has distributed $19 million to 92 local renewable energy projects across Oregon to date.

Portland General Electric Company (POR) - Canvas Business Model: Cost Structure

You're looking at the core expenses Portland General Electric Company (POR) is managing for its 2025 fiscal year. These numbers reflect the necessary spending to keep the lights on, meet regulatory demands, and invest in the future grid.

The company's cost structure is heavily influenced by large, ongoing capital programs and variable expenses tied to energy markets and safety mandates. Here's a breakdown of the key financial components guiding their spending.

For the full-year 2025 guidance, the major cost line items are projected as follows:

Cost Component	Projected 2025 Financial Amount
Capital Expenditures (CapEx)	$1.215 billion
Operating and Maintenance (O&M) Expense Range	$795 million to $815 million
Depreciation and Amortization Expense Range	$550 million to $575 million
Wildfire Mitigation & Vegetation Management (within O&M)	Approximately $135 million

The Operating and maintenance (O&M) expense for 2025 is guided to fall between $795 million and $815 million. This category includes significant, non-negotiable spending related to safety and compliance.

• Wildfire mitigation and vegetation management costs are a substantial component, budgeted at approximately $135 million within the O&M total.
• This O&M figure also covers other elements like business transformation expenses, as noted in their second quarter 2025 reporting.

You can see the impact of prior investments reflected in the non-cash charges. Depreciation, amortization, and interest expense are rising because of the ongoing capital investment program. Specifically, the guidance for depreciation and amortization expense is set between $550 million and $575 million for 2025.

One of the most persistent challenges in the cost structure is the significant purchased power and fuel expense volatility. This cost line item is directly exposed to market swings, which can cause fluctuations in reported expenses. For instance, while purchased power and fuel expense increased in the second quarter of 2025 due to rising prices, it had decreased in the first quarter of 2025 compared to the prior year due to decreased prices, showing that variability firsthand. This is a major factor Portland General Electric Company (POR) must manage through its power cost and financing plans.

Also, keep in mind the capital spending drives future fixed costs. The Capital expenditures projected at $1.215 billion for 2025 are aimed at grid modernization, clean energy integration, and resiliency efforts. The resulting higher asset balances directly lead to increased depreciation and amortization, plus higher interest expense on the debt used to finance these projects.

Finance: draft 13-week cash view by Friday.

Portland General Electric Company (POR) - Canvas Business Model: Revenue Streams

You're looking at how Portland General Electric Company brings in the money, which is heavily tied to regulated rates and new asset recovery mechanisms as of late 2025. The core of the business remains the sale of electricity to retail customers at regulated, tariff-based rates.

For the third quarter of 2025, Portland General Electric Company reported total revenues of $952 million. This revenue performance in Q3 2025 was supported by continued demand growth, specifically a 13% industrial load growth quarter-over-quarter, driven by technology infrastructure customers. The company reaffirmed its full-year 2025 weather-adjusted load growth guidance to be between 3.5% and 4.5%.

A significant component of revenue generation involves securing regulatory approval for capital investments. For instance, the cost recovery for the Seaside Battery Energy Storage System is now being implemented following an October 21, 2025 Order from the OPUC, which results in an annual revenue requirement increase of $42 million, excluding Net Variable Power Costs. However, a compliance filing on October 24, 2025, directed the recovery to be reflected in an overall $35.2 million or 1.1% increase in Cost of Service (COS) revenues for approximately 953,000 COS customers, effective October 31, 2025. This is separate from the rate increases approved in late 2024, which included a 5.5% increase for residential customers starting in 2025.

Portland General Electric Company also generates revenue through alternative programs. Looking at the full-year 2024 figures, the line item for Alternative revenue programs, net of amortization, was reported as a negative ($40) million, which compares to a positive $11 million in both 2023 and 2022. The Clean Fuels Program (CFP) credits are part of this, where in 2023, proceeds from residential CFP credit sales totaled $17,832,993 to fund 2024 programs.

Here's a quick look at the key financial metrics underpinning the revenue streams as of the latest reporting:

Financial Metric	Amount/Range	Period/Context
Q3 2025 Total Revenues	$952 million	Third Quarter 2025
2025 Adjusted Earnings Guidance (Reaffirmed)	$3.13 to $3.33 per diluted share	Full Year 2025
Seaside Battery Annual Revenue Requirement Increase (from Oct 2025 Order)	$42 million	Annual, effective late October 2025
Alternative Revenue Programs (Net of Amortization)	($40) million	Full Year 2024
Residential Rate Increase Effective 2025	5.5%	Starting January 1, 2025
Q3 2025 GAAP Earnings Per Share	$0.94	Third Quarter 2025

The revenue stream from regulated sales is also influenced by load growth expectations. The industrial load growth in Q3 2025 was 13% quarter-over-quarter. Furthermore, the company maintains a long-term earnings and dividend growth guidance of 5% to 7%.

You should also note the drivers of the Q3 revenue increase, which included:

• Retail revenue contribution of $0.44 per share.
• An increase of $0.16 from 5.5% demand growth in Q3 2025.
• An increase of $0.28 from a higher average price of deliveries due to improved recovery.

Finance: draft 13-week cash view by Friday.