Profile: Portland General Electric Co (POR)
17 Nov 2017
Portland General Electric Company (PGE), incorporated on July 25, 1930, is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. The Company's service area allocation of approximately 4,000 square miles is located within Oregon and includes 51 incorporated cities.
As of December 31, 2016, the Company had five natural gas-fired generating facilities, which include Port Westward Unit 1 (PW1), Port Westward Unit 2 (PW2), Beaver natural gas-fired generating plant (Beaver), Coyote Springs Unit 1 (Coyote Springs) and Carty natural gas-fired generating plant (Carty). As of December 31, 2016, the Company operated Boardman and had a 20% interest in Colstrip Units 3 and 4 coal-fired generating plant (Colstrip), which is operated by a third party. The thermal plants provide power and capacity reserves for the Company's customers. As of December 31, 2016, these resources had a combined capacity, with the addition of Carty, of 2,619 megawatt (MW). As of December 31, 2016, the Company owned and operated two wind farms, Biglow Canyon Wind Farm (Biglow Canyon) and Tucannon River Wind Farm (Tucannon River). Biglow Canyon, located in Sherman County, Oregon, is the Company's renewable energy resource consisting of 217 wind turbines with a total capacity of approximately 450 MW. Tucannon River, is located in southeastern Washington and consists of 116 wind turbines with a total capacity of 267 MW.
The Company's Federal Energy Regulatory Commission (FERC)-licensed hydroelectric projects consist of Pelton/Round Butte on the Deschutes River near Madras, Oregon, four plants on the Clackamas River, and one on the Willamette River. These plants have a combined capacity of 495 MW. As of December 31, 2016, the Company had a 66.67% interest in the 455 MW Pelton/Round Butte hydroelectric project on the Deschutes River, with the remaining interest held by the Confederated Tribes of the Warm Springs Reservation of Oregon (Tribes). The Company has a dispatchable standby generation (DSG) program under which the Company can start, operate, and monitor customer-owned diesel-fueled standby generators when needed to provide North American Electric Reliability Corporation (NERC)-required operating reserves. As of December 31, 2016, there were 58 sites with a total DSG capacity of 117 MW.
As of December 31, 2016, PGE owned 79.5% of the Kelso-Beaver Pipeline, which directly connects PW1, PW2, and Beaver to Northwest Pipeline, an interstate natural gas pipeline operating between British Columbia and New Mexico. PGE transports natural gas on the Kelso-Beaver Pipeline for its own use under a firm transportation service agreement, with capacity offered to others on an interruptible basis to the extent not utilized by the Company. As of December 31, 2016, PGE had access to 103,305 Decatherm (Dth) per day of firm natural gas transportation capacity to serve the three plants.
PGE also has contractual access to natural gas storage in Mist, Oregon. The Company's storage facility is owned and operated by a local natural gas company and is utilized to provide fuel to PW1, PW2 and Beaver. To serve Coyote Springs and Carty, PGE has access to 119,500 Dth per day of firm natural gas transportation capacity on three pipeline systems accessing gas fields in Alberta, Canada. The Colstrip co-owners obtain coal to fuel the plant through conveyor belt from a mine that lies adjacent to the facility. The contract for coal supply extends through 2019.
PGE's transmission system is part of the Western Interconnection, the regional grid in the western United States. The Western Interconnection includes the interconnected transmission systems of 11 western states, two Canadian provinces and parts of Mexico. The Company owns and/or has contractual rights associated with transmission lines that deliver electricity from its generation facilities to its distribution system in its service territory and also to the Western Interconnection. As of December 31, 2016, the Company owned an electric transmission system consisting of 1,240 circuit miles, which include 286 circuit miles of 500 kilovolt (KV) line; 402 circuit miles of 230 kV line, and 551 miles of 115 kV line. As of December 31, 2016, the Company also had over 26,540 circuit miles of primary and secondary distribution lines that deliver electricity to its customers.
As of December 31, 2016, the Company owned approximately 15% of the capacity on the Colstrip Project Transmission facilities from Colstrip to Bonneville Power Administration's (BPA) transmission system, and approximately 20% of the capacity on the Pacific Northwest Intertie, a 4,800 MW transmission facility between John Day, in northern Oregon and Malin, in southern Oregon near the California border. The Pacific Northwest Intertie is used primarily for the transmission of interstate purchases and sales of electricity among utilities, including PGE. In addition, the Company has contractual rights for approximately 3,490 MW of firm BPA transmission on BPA's system to PGE's service territory in Oregon, and 150 MW of firm BPA transmission from the Mid-Columbia projects in Washington to the northern end of the Pacific Northwest AC Intertie, near John Day, Oregon, five MW to Tucannon River, and five MW to Biglow Canyon.
Portland General Electric Co
121 SW Salmon St
PORTLAND OR 97204-2908
Company Web Links
- BRIEF-Portland General Electric reports Q3 EPS of $0.44
- BRIEF-Portland General Electric signs bond purchase agreement with certain institutional buyers
- BRIEF-Portland General Electric says CEO to retire
- BRIEF-Portland General Electric Q2 earnings per share $0.36 - SEC filing
- 9th Circuit: Arbitrators must decide who hears PGE dispute