Portland General Electric Company

Portland General Electric Company
Name	Portland General Electric Company
Type	Public
Traded as	NYSE: POR
Industry	Electric utility
Founded	0 1889
Founder	Henry Failing
Hq location	Portland, Oregon
Area served	Northwestern Oregon
Key people	Maria Pope (President & CEO)
Products	Electricity generation, Electricity transmission, Electricity distribution
Website	https://www.portlandgeneral.com/

Portland General Electric Company. It is a vertically integrated electric utility serving customers in northwestern Oregon. The company, headquartered in Portland, Oregon, generates, transmits, and distributes electricity to over 900,000 customers across 52 cities. Its service territory includes the populous Willamette Valley and extends to the Oregon Coast.

History

The company's origins trace back to 1889, founded by Henry Failing and others as the Willamette Falls Electric Company. It played a pivotal role in early West Coast electrification, notably constructing the Station L hydroelectric plant at Willamette Falls. Through acquisitions like the Portland Railway, Light and Power Company, it expanded its footprint. A significant chapter began in 1997 when it became an independent, publicly traded company following its separation from Enron. Major milestones include the 2010 decommissioning of the Boardman Coal Plant and strategic investments in renewable resources like the 2012 completion of the Tucannon River Wind Farm in Washington.

Operations

Operations are centered on a diverse generation portfolio, including hydroelectric facilities on the Clackamas River and the North Fork Dam. The company operates natural gas-fired plants such as Port Westward and the Carty Generating Station. Its transmission and distribution network comprises over 18,000 miles of power lines, supported by substations and advanced grid technologies. Key infrastructure projects include the ongoing Advanced Metering Infrastructure rollout and participation in regional reliability organizations like the North American Electric Reliability Corporation and the Western Electricity Coordinating Council.

Service area

The primary service territory encompasses six counties: Multnomah, Washington, Clackamas, Marion, Yamhill, and Polk. This region includes major population centers like Portland, Salem, Gresham, and Beaverton, as well as portions of the Mount Hood Corridor. The utility also provides electricity to numerous smaller communities and rural areas within this geographic footprint, which is part of the Pacific Northwest region.

Environmental initiatives

Environmental strategy is guided by Oregon's Renewable Portfolio Standard and the company's own clean energy goals. It has significantly expanded its wind and solar assets, including projects like the Wheatridge Renewable Energy Facility. The company actively promotes customer programs such as Green Future Renewable Energy and Drive Change for electric vehicle adoption. It is a participant in the Western Climate Initiative and has committed to reducing greenhouse gas emissions, aligning with state policies like the Oregon Department of Environmental Quality's Climate Protection Program.

Financial performance

As a publicly traded entity, its stock is listed on the New York Stock Exchange under the ticker symbol POR. Financial results are influenced by regulatory decisions from the Oregon Public Utility Commission, which sets retail electricity rates. Key financial metrics include operating revenue, net income, and earnings per share, detailed in annual reports filed with the U.S. Securities and Exchange Commission. Investment ratings are provided by agencies like Moody's Investors Service and S&P Global Ratings.

Leadership and governance

The company is led by President and Chief Executive Officer Maria Pope, who also serves on the board of directors. Governance is overseen by a board that includes members like Jack Davis and Charles A. Wilhoite. The executive team includes senior vice presidents overseeing divisions such as Finance, Operations, and Customer Solutions. The company adheres to corporate governance standards and is a constituent of the Russell 3000 Index.

Category:Electric power companies of the United States Category:Companies based in Portland, Oregon Category:1889 establishments in Oregon