Portland General Electric Company (POR): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde électrisant de Portland General Electric Company (POR), où l'innovation rencontre une transformation d'énergie durable. Cette toile complète du modèle commercial révèle comment un fournisseur de puissance régional navigue dans le paysage complexe de la production d'électricité moderne, mélangeant les infrastructures traditionnelles avec des technologies renouvelables de pointe. Des barrages hydroélectriques aux installations solaires, POR démontre une approche stratégique qui équilibre la distribution de puissance fiable, la gestion de l'environnement et le progrès technologique, créant un plan pour la gestion des services publics axée sur le futur qui va bien au-delà de la simple transmission électrique.

Portland General Electric Company (POR) - Modèle d'entreprise: partenariats clés

Bonneville Power Administration Partnership

Portland General Electric (POR) maintient un partenariat de transmission critique avec Bonneville Power Administration (BPA). En 2023, le BPA fournit environ 40% de l'infrastructure régionale de transmission de puissance de POR.

Métrique de partenariat	Données quantitatives
Capacité de transmission annuelle	3 700 mégawatts
Durée du partenariat	Plus de 25 ans
Couverture de transmission	Régions de l'Oregon et de Washington

Fabricants d'équipements d'énergie solaire et éolienne

POR collabore avec plusieurs fabricants d'équipements d'énergie renouvelable pour étendre son portefeuille d'énergie verte.

• First Solar - fournit des technologies de module photovoltaïque
• Vestas Wind Systems - Supplies Wind Turbine Equipment
• Sunpower Corporation - fournit des panneaux solaires à haute efficacité

Fabricant	Approvisionnement en équipement annuel	Valeur du contrat
Premier solaire	Modules solaires 125 MW	42,3 millions de dollars
Vestas	Éoliennes de 200 MW	68,7 millions de dollars
Pouvoir solaire	Panneaux solaires de 90 MW	35,6 millions de dollars

Opérateurs locaux de services publics et de réseaux énergétiques

Por maintient des partenariats stratégiques avec les réseaux de services publics régionaux pour assurer une distribution d'énergie stable.

• Eugene & Carte électrique
• Puissance du Pacifique
• Idaho Power Company

Organisations de conservation de l'environnement

POR collabore avec des groupes environnementaux pour soutenir le développement durable de l'énergie et la préservation écologique.

Organisation	Focus de partenariat	Investissement annuel
La conservation de la nature	Restauration de l'habitat	1,2 million de dollars
Conseil environnemental de l'Oregon	Politique de l'énergie propre	$750,000

Entreprises de développement de la technologie et des infrastructures

POR s'associe aux entreprises technologiques pour améliorer la modernisation du réseau et les solutions d'énergie intelligente.

• Iron Inc. - Smart Metering Technologies
• Schneider Electric - Systèmes de gestion du réseau
• Groupe ABB - infrastructure de transmission de puissance

Partenaire technologique	Focus technologique	Valeur du contrat
Iron Inc.	Infrastructure de mesure avancée	22,5 millions de dollars
Schneider Electric	Logiciel d'optimisation de la grille	18,9 millions de dollars
Groupe ABB	Équipement de transmission d'alimentation	35,4 millions de dollars

Portland General Electric Company (POR) - Modèle d'entreprise: activités clés

Génération d'énergie électrique à partir de diverses sources

En 2024, Portland General Electric (PGE) exploite une capacité de production totale de 1880 MW sur plusieurs sources:

Source de génération	Capacité (MW)	Pourcentage
Gaz naturel	1,043	55.5%
Hydroélectrique renouvelable	410	21.8%
Vent	260	13.8%
Solaire	167	8.9%

Gestion de la maintenance et de la gestion des infrastructures

PGE gère:

• 6 645 miles de circuit de lignes de transmission et de distribution
• 1,9 million de compteurs électriques en service
• Investissement annuel sur les infrastructures de 272 millions de dollars en 2023

Services d'énergie client et programmes d'efficacité

Programmes d'efficacité énergétique de PGE en 2023:

• 43,6 millions de dollars investis dans des initiatives d'efficacité énergétique
• Réalisé 116 516 MWh d'économies d'énergie
• A servi 891 000 clients dans l'Oregon

Développement du projet d'énergie renouvelable

Investissements en énergie renouvelable en cours:

• 575 millions de dollars engagés dans les projets d'énergie renouvelable
• Objectif du portefeuille des énergies renouvelables de 50% d'ici 2030
• 5 projets de développement solaire et éolien actifs

Initiatives de conformité réglementaire et de durabilité

Métriques de conformité et de durabilité:

Métrique	Valeur 2024
Cible de réduction des émissions de carbone	80% d'ici 2030
Dépenses de conformité réglementaire	89,3 millions de dollars
Budget du programme de durabilité	62,7 millions de dollars

Portland General Electric Company (POR) - Modèle d'entreprise: Ressources clés

Installations de production hydroélectrique, éolienne et solaire

En 2024, Portland General Electric (POR) exploite les installations de génération suivantes:

Type de génération	Capacité totale (MW)	Nombre d'installations
Hydro-électrique	382 MW	7 installations
Vent	217 MW	3 installations
Solaire	56 MW	2 installations

Infrastructure de réseau avancée et technologie de mesure intelligente

L'infrastructure de réseau intelligent de POR comprend:

• Environ 1,9 million d'unités d'infrastructure de mesure avancée (AMI) déployées
• Les systèmes de surveillance du réseau en temps réel couvrant 89% du territoire de service
• 245 millions de dollars investis dans la modernisation du réseau entre 2020 et 2023

Ingénierie qualifiée et main-d'œuvre technique

Métriques de la main-d'œuvre	Valeur
Total des employés	2,743
Des années moyennes d'expérience	14,6 ans
Employés ayant des diplômes techniques avancés	387

Réseaux de transmission et de distribution étendus

Détails de l'infrastructure réseau:

• Lignes de transmission totales: 4 287 miles de circuit
• Lignes de distribution: 14 629 miles de circuit
• Zone de service: 4 009 miles carrés dans l'Oregon

Capacités financières et investissements solides

Métrique financière	Valeur 2024
Actif total	6,3 milliards de dollars
Dépenses en capital annuelles	587 millions de dollars
Equivalents en espèces et en espèces	214 millions de dollars

Portland General Electric Company (POR) - Modèle d'entreprise: propositions de valeur

Alimentation électrique fiable et cohérente

Portland General Electric dessert environ 901 000 clients dans 51 villes de l'Oregon. En 2022, la société a déclaré un taux de fiabilité de l'électricité de 99,9%, avec une durée de panne moyenne de 74 minutes par client par an.

Métrique	Valeur
Total des clients	901,000
Villes de la zone de service	51
Taux de fiabilité de l'énergie	99.9%
Durée moyenne de la panne annuelle	74 minutes

Engagement envers les sources d'énergie durables et renouvelables

La PGE s'est engagée à 100% d'objectifs d'énergie renouvelable d'ici 2040. En 2022, le portefeuille des énergies renouvelables de la société comprenait:

• Énergie éolienne: 37%
• Énergie solaire: 12%
• Énergie hydroélectrique: 28%
• Autres sources renouvelables: 23%

Solutions d'efficacité énergétique innovantes pour les clients

En 2022, PGE a investi 45,2 millions de dollars dans des programmes d'efficacité énergétique, aidant les clients à réduire la consommation d'énergie de 132 000 MWh.

Investissement d'efficacité énergétique	Économies d'énergie
45,2 millions de dollars	132 000 MWh

Prix ​​compétitifs et facturation transparente

Le taux d'électricité résidentiel moyen de PGE en 2022 était de 0,10 $ par kWh, ce qui est inférieur à la moyenne nationale de 0,14 $ par kWh.

Infrastructure technologique avancée pour les besoins énergétiques modernes

PGE a déployé 850 000 compteurs intelligents, permettant une surveillance de la consommation d'énergie en temps réel et des capacités avancées de gestion des grilles.

Déploiement de compteur intelligent	Avantage client
850 000 compteurs intelligents	Suivi de consommation d'énergie en temps réel

Portland General Electric Company (POR) - Modèle d'entreprise: relations clients

Plateformes de service client numérique

Portland General Electric fournit un service client en ligne via ses plateformes numériques avec les mesures suivantes:

Plate-forme numérique	Statistiques d'utilisation
Gestion de compte en ligne	87% des clients utilisent des plateformes numériques pour le paiement des factures
Téléchargements d'applications mobiles	342 000 utilisateurs d'applications mobiles actifs à partir de 2023
Trafic	1,2 million de visiteurs mensuels du site Web

Analyse de consommation d'énergie personnalisée

PGE propose un suivi détaillé de la consommation d'énergie avec des fonctionnalités spécifiques:

• Surveillance de la consommation d'énergie en temps réel pour 65% des clients résidentiels
• Recommandations d'efficacité énergétique personnalisées
• Répartition détaillée de la consommation disponible via les plateformes numériques

Programmes d'engagement communautaire et d'éducation

Programme	Métriques de participation
Ateliers d'éducation énergétique	48 ateliers communautaires organisés en 2023
Programmes d'énergie scolaire	37 écoles ont participé à des initiatives d'éducation énergétique
Projets solaires communautaires	2,3 millions de dollars investis dans des programmes solaires communautaires

Canaux de support client réactifs

Détails de l'infrastructure du support client:

• Centre d'appels de service à la clientèle 24/7 avec taux de résolution de premier appel de 92%
• Temps de réponse moyen: 7,2 minutes pour les canaux de support numériques
• Évaluation de satisfaction du client: 4.6 / 5 sur la base des enquêtes 2023

Communication proactive sur les services énergétiques

Canal de communication	Métriques d'engagement
Notifications par e-mail	78% des clients ont opté pour les communications par e-mail
Services d'alerte de texte	215 000 clients inscrits pour des notifications de texte
Communication	Précision des rapports des panneaux de panne en temps réel à 95%

Portland General Electric Company (POR) - Modèle d'entreprise: canaux

Portail client en ligne et application mobile

La plate-forme numérique de Portland General Electric dessert 890 000 clients dans l'Oregon. L'application mobile compte 247 000 utilisateurs mensuels actifs en 2023. Les mesures d'engagement numérique montrent que 68% des interactions client se produisent via des canaux en ligne.

Canal numérique	Statistiques d'utilisation	Volume de transaction annuel
Portail client en ligne	890 000 utilisateurs enregistrés	4,2 millions de transactions numériques
Application mobile	247 000 utilisateurs actifs mensuels	1,8 million d'interactions mobiles

Centres de service client physique

PGE conserve 7 centres de service client physique dans l'Oregon, avec des emplacements principaux à Portland, Salem et Eugene.

• Emplacements totaux du centre de service physique: 7
• Interactions annuelles des clients en personne: 126 000
• Centre de service client moyen Durée de visite: 22 minutes

Équipes de vente directe et marketing

PGE emploie 86 représentants des ventes directes ciblant les clients de l'énergie commerciale et industrielle. L'équipe de vente génère 124 millions de dollars de revenus annuels à partir des interactions commerciales directes.

Plateformes de facturation et de communication numériques

Canal de communication	Taux d'adoption des utilisateurs	Volume de communication annuel
Facturation électronique	Adoption de 72% des clients	3,6 millions de factures numériques envoyées
Communications par e-mail	81% de préférence du client	5,4 millions de courriels distribués

Événements de sensibilisation communautaire et d'éducation énergétique

La PGE dirige 42 événements d'éducation à l'énergie communautaire par an, atteignant environ 16 500 participants.

• Événements communautaires annuels totaux: 42
• Propose participante: 16 500 personnes
• Investissement dans les programmes communautaires: 1,2 million de dollars

Portland General Electric Company (POR) - Modèle d'entreprise: segments de clientèle

Consommateurs d'électricité résidentielle

En 2023, Portland General Electric dessert environ 900 000 clients résidentiels dans 51 villes de l'Oregon. Le segment de clientèle résidentiel représente 63% de la clientèle totale.

Type de client	Nombre de clients	Pourcentage du total
Maisons unifamiliales	670,000	74.4%
Résidences multifamiliales	180,000	20%
Résidentiel rural	50,000	5.6%

Clients commerciaux et industriels

POR dessert 83 000 clients commerciaux et industriels, représentant 35% des ventes totales d'électricité.

• Entreprises technologiques: 22 000 clients
• Entreprises de fabrication: 18 500 clients
• Établissements de vente au détail: 25 000 clients
• Complexes de bureaux: 17 500 clients

Institutions municipales et gouvernementales

Les clients municipaux représentent 2% de la clientèle totale, avec 15 000 comptes institutionnels.

Type d'institution	Nombre de clients
Bâtiments du gouvernement local	8,500
Écoles et universités	4,200
Infrastructure publique	2,300

Utilisateurs d'énergie agricole et rurale

Les clients agricoles comprennent 3 500 comptes, principalement situés dans les régions rurales de l'Oregon.

• Fermes: 2 700 clients
• Systèmes d'irrigation: 500 clients
• Installations de traitement agricole: 300 clients

Organisations axées sur l'énergie renouvelable

POR prend en charge 1 200 clients axés sur les énergies renouvelables grâce à des programmes spécialisés.

Type de client en énergie renouvelable	Nombre de clients
Développeurs de projets solaires	350
Sociétés d'énergie éolienne	250
Consultants en énergie verte	600

Portland General Electric Company (POR) - Modèle d'entreprise: Structure des coûts

Production d'électricité et maintenance des infrastructures

Coûts annuels de maintenance des infrastructures: 187,3 millions de dollars en 2022

Catégorie d'actifs	Frais de maintenance
Installations de génération	92,6 millions de dollars
Réseaux de transmission	45,7 millions de dollars
Systèmes de distribution	49 millions de dollars

Salaires et formation des employés

Total des dépenses du personnel en 2022: 214,5 millions de dollars

• Salaire moyen des employés: 95 300 $
• Investissement de formation annuelle: 3,2 millions de dollars
• Total de main-d'œuvre: 2 254 employés

Conformité réglementaire et investissements environnementaux

Dépenses totales de conformité environnementale: 63,4 millions de dollars en 2022

Zone de conformité	Investissement
Réduction des émissions	28,6 millions de dollars
Surveillance environnementale	19,2 millions de dollars
Représentation réglementaire	15,6 millions de dollars

Technologie et développement des infrastructures numériques

Investissement de transformation numérique: 41,7 millions de dollars en 2022

• Technologie de la grille intelligente: 22,3 millions de dollars
• Infrastructure de cybersécurité: 9,4 millions de dollars
• Plateformes numériques des clients: 10 millions de dollars

Recherche et développement pour les énergies renouvelables

Dépenses totales de R&D: 37,6 millions de dollars en 2022

Focus d'énergie renouvelable	Investissement en R&D
Technologie solaire	14,2 millions de dollars
Énergie éolienne	12,8 millions de dollars
Stockage d'énergie	10,6 millions de dollars

Portland General Electric Company (POR) - Modèle d'entreprise: Strots de revenus

Ventes d'électricité résidentielle

En 2022, Portland General Electric a déclaré un chiffre d'affaires résidentiel de 1 040 millions de dollars. Le taux d'électricité résidentiel moyen était de 0,1056 $ par kilowatt-heure.

Segment de clientèle résidentiel	Revenus (2022)	Nombre de clients
Ventes d'électricité résidentielle	$1,040,000,000	868,800

Contrats d'électricité commerciaux et industriels

Les ventes d'électricité commerciale et industrielle ont généré 912 millions de dollars de revenus pour le PGE en 2022.

Segment commercial	Revenus (2022)	Valeur du contrat moyen
Contrats d'électricité commerciaux	$912,000,000	$145,000

Crédits d'énergie renouvelable

PGE a généré 45,2 millions de dollars à partir des ventes de crédit aux énergies renouvelables en 2022.

• Crédits totaux d'énergie renouvelable vendus: 752 000 MWh
• Prix ​​de crédit moyen: 60,11 $ par MWh

Frais de programme d'efficacité énergétique

Les frais du programme d'efficacité énergétique ont contribué 37,5 millions de dollars aux revenus de PGE en 2022.

Type de programme	Revenu	Participants
Programmes d'efficacité énergétique	$37,500,000	42,600

Services de grille et revenus de transmission

Les services de grille et les revenus de transmission ont atteint 128,3 millions de dollars en 2022.

• Revenus de services de transmission: 89,4 millions de dollars
• Services d'équilibrage de la grille: 38,9 millions de dollars

Total des sources de revenus annuelles: 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.