Portland General Electric
Encyclopedia
Portland General Electric (PGE) is an electrical utility based in Portland
in the U.S. state of Oregon
. It distributes electricity to customers in parts of Multnomah
, Clackamas
, Marion
, Yamhill
, Washington
, and Polk
counties - half of the inhabitants of Oregon. (The rest of the City of Portland is served by Pacific Power
.) Founded in 1888 as the Willamette Falls Electric Company, the company has been an independent company for most of its existence, though was briefly owned by the Houston
-based Enron Corporation
from 1997 until 2006 when Enron divested itself of PGE during its bankruptcy.
PGE produces and purchases energy primarily from coal and natural gas plants, as well as hydroelectric
power from dams on the Clackamas
, Willamette
and Deschutes rivers. Between 1976 and 1993, PGE operated Trojan
, the only nuclear power
plant in Oregon.
and president).
over a 14-mile electric power transmission
line to Portland ... the first US power plant to do so.
On August 6, 1892, Morey, Frederick Van Voorhies Holman
, and Henry Failing
formed the Portland General Electric Company. It was funded by General Electric
and the investment arm of Old Colony Trust
, with $4.25 million in capital. PGE purchased Willamette Falls Electric in 1892.
In May 1893, PGE purchased the City-Eastside Electric Light Plant, a municipal power company. MacColl called it "a generous gift to a private company at the expense of future taxpayers" since it was constructed for a cost of $40,342 and sold 15 months later for $27,000.
PGE also purchased the 1891 Union Power Company in 1905, the 1889 Albina Light & Water Company in 1892, and the 1892 Vancouver Electric Light & Power Company in 1906. PGE, Portland Railway Company, and Oregon Water Power & Railway Company merged in 1906, becoming the Portland Railway, Light and Power Company
(PRL&P). It was the only streetcar operator in city limits, and was the predecessor of the modern PGE.
Willamette Falls Electric changed its name several times before settling on Portland Electric Power Company (PEPCO) in 1932. Portland Electric Power was reorganized as PGE in 1948.
On March 1, 1939, the PEPCO defaulted on interest bonds issued in March 1934. The bonds were pledged with PGE (the electric subsidiary) and Portland Traction Company (PTC, streetcar subsidiary) as collateral, with Guaranty Trust as trustee. PEPCO filed for Chapter X bankruptcy
(now known as Chapter 9) on April 3, 1939, and was assigned District Judge James Alger Fee
. The proceedings were later called "one of the most prolonged and complicated series of legal proceedings in Portland's history".
The reorganization and bond default was brought on by PGE's difficult negotiations with Bonneville Power Administration
, the death Seattle City Light
's visionary J. D. Ross, and the indecision created by the possible creation of a Public utility district
in PGE's territory. The Columbia Valley Authority project would have allowed CVA to purchase utilities such as PGE.
PGE survived from bankruptcy through selling Portland Traction in August 1946 for $8 million in cash, cheap power purchases from BPA beginning in the fall of 1939, and net profits by the end of 1941. In the meantime, Ormond R. Bean, the Oregon Public Utility Commission
er, forced PGE to lower its rates. Ultimately, PEPCO and PGE were saved by World War II
, which led to the construction of three Kaiser Shipyards
and of Vanport City, Oregon to support them. By 1945, PGE derived nearly $400,000 in revenue from the two Kaiser shipyards in Oregon.
Judge Fee ruled the bankruptcy reorganization complete on June 29, 1946.
Ballot measures
have been filed by citizens several times since the 1960s to convert some or all of PGE into a Public Utility District
(PUD), the latest of which was in 2003, and most have been unsuccessful. An exception was in 1999, when PGE announced it was selling its customer base in St. Helens
, Scappoose
, and Columbia City
to West Oregon Electric PUD for $7.9 million. The terms of this sale would leave the physical assets of the distribution system—the poles, wires and other components—owned by Enron
, who would then manage this system as a contractor exempt from state regulation. Voter distrust of both Enron and PGE was severe enough for them to approve the measure, despite $71,592 being spent in advertisements to oppose it, in comparison to the $2,304 spent by supporters. This resulted with those three cities becoming part of the Columbia River PUD on terms far more favorable to the customers; electricity rates immediately dropped in these cities, and remain lower than those for current PGE customers.
On July 1, 1997, Enron Corporation bought PGE for $2 billion in stock and $1.1 billion in assumed debt. Then in 1999, and again in 2001, Enron attempted to sell PGE to other investor-owned utilities including Portland based NW Natural
. The corporate officers of PGE claimed that this utility was not involved in the financial misdealings of its owner, pointing to the fact that many of its employees suffered when Enron froze the 401(k)
retirement plan and were unable to sell the rapidly declining stock. However, Ken Harrison and Joseph Hirko, PGE's CEO and CFO respectively at the time of the Enron
merger were charged on several felony level counts primarily related to financial misrepresentation regarding Enron Broadband Services which had its headquarters within the World Trade Center complex that comprises PGE's corporate offices. In addition Tim Belden, head of the West Coast Trading Desk and John Forney, an energy trader who invented various electricity
trading strategies such as the Death Star
, operated from the trading floor in the PGE corporate offices and were also convicted of financial crimes related to the California Electricity Crisis
.
. These studies were ended following the announcement on November 17, 2003 that a group called Oregon Electric Utility, led by former governor Neil Goldschmidt
and backed by Texas Pacific Group
, offered to buy PGE for $2.35 billion. This was the sole bid received by the bankruptcy judge, who has approved the bid. When details that Goldschmidt had been sexually involved with a minor in the 1970s emerged, he withdrew from the negotiations, and was replaced by Peter O. Kohler, president of the Oregon Health and Science University.
Many local groups voiced their suspicion that Oregon Electric Utility would be run to maximize profits short-term, rather than to the customers' benefits. These groups included Industrial Customers of Northwest Utilities, Associated Oregon Industries, the Citizen Utilities Board, as well as the majority of cities and local governments in PGE's service area. This purchase offer was denied by the Oregon Public Utility Commission
, a three-member regulatory board, on March 10, 2005.
Discomfort over the Texas Pacific purchase led to a number of voter initiatives to convert parts of PGE into PUDs. PGE defeated measures in Multnomah County
(November 14, 2003), Yamhill County
(March, 2004), and Clackamas County
(May 18, 2004).
PGE received notice of a strike
by 900 union
workers, effective March 8, 2004, represented by the International Brotherhood of Electrical Workers
. Points over which the negotiations broke down include retiree medical benefits as well as losses in the members 401(k) plan. This labor dispute was shortly afterward resolved, and the union agreed to a new contract.
With the rejection of the Texas Pacific Group's offer, the City of Portland announced it contacted Enron to resume negotiating an offer to purchase PGE. On April 19, 2005, Portland city officials announced that they were willing to spend 7.5 million in attorneys' fees to purchase the utility. On July 6, the City Council unanimously adopted a measure to finance the acquisition of PGE by the sale of $3 billion in bonds.
Enron interim CEO Stephen Cooper called off negotiations over acquisition of PGE on July 20, 2005. Cooper stated that he did not "see a plausible solution under which our teams could reach an agreement that would lead to a transaction closing in a timely fashion". Cooper addressed several causes for the termination, including the refusal of the city to pay a $50 million deposit on the sale. The same day, Governor Ted Kulongoski
vetoed a bill that would create a public corporation to purchase PGE.
and become a locally-based utility.
Grand Total: 2398.2 MWe
.
charging station
s in Portland
and Salem
as part of a demonstration project to develop the transportation infrastructure needed to support electric vehicle
s, and specially anticipate the demand plug-in cars.
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
in the U.S. state of Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
. It distributes electricity to customers in parts of Multnomah
Multnomah County, Oregon
Multnomah County is one of 36 counties in the U.S. state of Oregon. Though smallest in area, it is the most populous as its county seat, Portland, is the state's largest city...
, Clackamas
Clackamas County, Oregon
Clackamas County is a county located in the U.S. state of Oregon. The county was named after the Native Americans living in the area, the Clackamas Indians, who were part of the Chinookan people. As of 2010, the population was 375,992...
, Marion
Marion County, Oregon
Marion County is a county located in the U.S. state of Oregon. It was originally named the Champooick District, after Champoeg, a meeting place on the Willamette River. On September 3, 1849, the territorial legislature renamed it in honor of Francis Marion, a Continental Army general of the...
, Yamhill
Yamhill County, Oregon
-National protected areas:*Siuslaw National Forest *Tualatin River National Wildlife Refuge -Demographics:As of the census of 2000, there were 84,992 people, 28,732 households, and 21,376 families residing in the county. The population density was 119 people per square mile . There were 30,270...
, Washington
Washington County, Oregon
- Major highways :* Interstate 5* Interstate 205* U.S. Route 26* Oregon Route 6* Oregon Route 8* Oregon Route 10* Oregon Route 47* Oregon Route 99W* Oregon Route 210* Oregon Route 217* Oregon Route 219-Demographics:...
, and Polk
Polk County, Oregon
Polk County is a county located in the U.S. state of Oregon. The county is named for James Knox Polk, the 11th president of the United States. In 2010, its population was 75,403. The seat of the county is Dallas....
counties - half of the inhabitants of Oregon. (The rest of the City of Portland is served by Pacific Power
PacifiCorp
PacifiCorp is an electric power company in the northwestern United States.PacifiCorp has three primary subsidiaries:# Pacific Power is a regulated electric utility with service territory throughout Oregon, northern California, and southeastern Washington.# Rocky Mountain Power is a regulated...
.) Founded in 1888 as the Willamette Falls Electric Company, the company has been an independent company for most of its existence, though was briefly owned by the Houston
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
-based Enron Corporation
Enron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with...
from 1997 until 2006 when Enron divested itself of PGE during its bankruptcy.
PGE produces and purchases energy primarily from coal and natural gas plants, as well as hydroelectric
Hydroelectricity
Hydroelectricity is the term referring to electricity generated by hydropower; the production of electrical power through the use of the gravitational force of falling or flowing water. It is the most widely used form of renewable energy...
power from dams on the Clackamas
Clackamas River
The Clackamas River is an approximately tributary of the Willamette River in northwestern Oregon, in the United States. As it drains an area of about , the Clackamas passes through mostly forested and rugged mountainous terrain in its upper reaches, and passes through agricultural and urban areas...
, Willamette
Willamette River
The Willamette River is a major tributary of the Columbia River, accounting for 12 to 15 percent of the Columbia's flow. The Willamette's main stem is long, lying entirely in northwestern Oregon in the United States...
and Deschutes rivers. Between 1976 and 1993, PGE operated Trojan
Trojan Nuclear Power Plant
Trojan Nuclear Power Plant was a pressurized water reactor nuclear power plant located southeast of Rainier, Oregon, United States, and the only commercial nuclear power plant to be built in Oregon. After sixteen years of service it was closed by its operator, Portland General Electric , almost...
, the only nuclear power
Nuclear power
Nuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear generated electricity...
plant in Oregon.
Corporate officers
PGE currently has 11 corporate officers, who include James J. Piro (CEOChief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
and president).
History
The utility was founded in 1888 by Parker F. Morey and Edward L. Eastham as Willamette Falls Electric Company. On June 3, 1889 it sent power generated by one of four "No. 8 Brush arc light dynamos" at Willamette FallsWillamette Falls
The Willamette Falls is a natural waterfall on the Willamette River between Oregon City and West Linn, Oregon, in the United States. It is the largest waterfall in the Pacific Northwest and the eighteenth largest in the world by water volume. Horseshoe in shape, it is wide and high with a flow...
over a 14-mile electric power transmission
Electric power transmission
Electric-power transmission is the bulk transfer of electrical energy, from generating power plants to Electrical substations located near demand centers...
line to Portland ... the first US power plant to do so.
On August 6, 1892, Morey, Frederick Van Voorhies Holman
Frederick Van Voorhies Holman
Frederick Van Voorhies Holman was a prominent lawyer and civic leader of the late 19th and early 20th centuries in Portland in the U.S. state of Oregon. Legal counsel for the Portland Railway, Light and Power Company and other businesses, he was active in Democratic Party politics and in...
, and Henry Failing
Henry Failing
Henry Failing was a banker, and one of the leading businessmen of the Pacific Northwest of the United States. He was one of Portland, Oregon's earliest residents, and served as that city's mayor for three two-year terms...
formed the Portland General Electric Company. It was funded by General Electric
General Electric
General Electric Company , or GE, is an American multinational conglomerate corporation incorporated in Schenectady, New York and headquartered in Fairfield, Connecticut, United States...
and the investment arm of Old Colony Trust
First Boston
First Boston Corporation was a New York-based, bulge bracket, investment bank, founded in 1932 and acquired by Credit Suisse in 1990. Together with its sister investment banks, it was referred to as CS First Boston after 1993 and part of Credit Suisse First Boston after 1996, the First Boston part...
, with $4.25 million in capital. PGE purchased Willamette Falls Electric in 1892.
In May 1893, PGE purchased the City-Eastside Electric Light Plant, a municipal power company. MacColl called it "a generous gift to a private company at the expense of future taxpayers" since it was constructed for a cost of $40,342 and sold 15 months later for $27,000.
PGE also purchased the 1891 Union Power Company in 1905, the 1889 Albina Light & Water Company in 1892, and the 1892 Vancouver Electric Light & Power Company in 1906. PGE, Portland Railway Company, and Oregon Water Power & Railway Company merged in 1906, becoming the Portland Railway, Light and Power Company
Portland Railway, Light and Power Company
The Portland Railway, Light and Power Company was a railway company and electric power utility in Portland, Oregon, United States, from 1906 until 1924....
(PRL&P). It was the only streetcar operator in city limits, and was the predecessor of the modern PGE.
Willamette Falls Electric changed its name several times before settling on Portland Electric Power Company (PEPCO) in 1932. Portland Electric Power was reorganized as PGE in 1948.
On March 1, 1939, the PEPCO defaulted on interest bonds issued in March 1934. The bonds were pledged with PGE (the electric subsidiary) and Portland Traction Company (PTC, streetcar subsidiary) as collateral, with Guaranty Trust as trustee. PEPCO filed for Chapter X bankruptcy
Chapter 9, Title 11, United States Code
Chapter 9, Title 11 of the United States Code is a chapter of the United States Bankruptcy Code, available exclusively to municipalities and assists them in the restructuring of debts...
(now known as Chapter 9) on April 3, 1939, and was assigned District Judge James Alger Fee
James Alger Fee
James Alger Fee was a United States federal judge from Oregon. He served as a federal district court judge in Portland, Oregon, and as a judge on the United States Court of Appeals for the Ninth Circuit in the 1950s. A veteran of the United States Army, his first judicial position was with the...
. The proceedings were later called "one of the most prolonged and complicated series of legal proceedings in Portland's history".
The reorganization and bond default was brought on by PGE's difficult negotiations with Bonneville Power Administration
Bonneville Power Administration
The Bonneville Power Administration is an American federal agency based in the Pacific Northwest. BPA was created by an act of Congress in 1937 to market electric power from the Bonneville Dam located on the Columbia River and to construct facilities necessary to transmit that power...
, the death Seattle City Light
Seattle City Light
Seattle City Light is the public utility providing electrical power to Seattle, Washington and parts of its metropolitan area, including all of Shoreline and Lake Forest Park and parts of unincorporated King County, Burien, Normandy Park, Seatac, Renton, and Tukwila...
's visionary J. D. Ross, and the indecision created by the possible creation of a Public utility district
Public utility district
In the United States, a public utility district is a special-purpose district or other governmental jurisdiction that provides public utilities to the residents of that district.PUDs are created by a local government body, such as a city, county, or...
in PGE's territory. The Columbia Valley Authority project would have allowed CVA to purchase utilities such as PGE.
PGE survived from bankruptcy through selling Portland Traction in August 1946 for $8 million in cash, cheap power purchases from BPA beginning in the fall of 1939, and net profits by the end of 1941. In the meantime, Ormond R. Bean, the Oregon Public Utility Commission
Oregon Public Utility Commission
The Oregon Public Utility Commission is the chief electric, gas and telephone utility regulatory agency of the government of the U.S. state of Oregon. It sets rates and establishes rules of operation for the state's investor-owned utility companies...
er, forced PGE to lower its rates. Ultimately, PEPCO and PGE were saved by World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, which led to the construction of three Kaiser Shipyards
Kaiser Shipyards
The Kaiser Shipyards were seven major shipbuilding yards located mostly on the U.S. west coast during World War II. They were owned by the Kaiser Shipbuilding Company, a creation of American industrialist Henry J...
and of Vanport City, Oregon to support them. By 1945, PGE derived nearly $400,000 in revenue from the two Kaiser shipyards in Oregon.
Judge Fee ruled the bankruptcy reorganization complete on June 29, 1946.
Ballot measures
Initiative
In political science, an initiative is a means by which a petition signed by a certain minimum number of registered voters can force a public vote...
have been filed by citizens several times since the 1960s to convert some or all of PGE into a Public Utility District
Public utility district
In the United States, a public utility district is a special-purpose district or other governmental jurisdiction that provides public utilities to the residents of that district.PUDs are created by a local government body, such as a city, county, or...
(PUD), the latest of which was in 2003, and most have been unsuccessful. An exception was in 1999, when PGE announced it was selling its customer base in St. Helens
St. Helens, Oregon
St. Helens is the county seat of Columbia County, Oregon. It was founded by Captain H. M. Knighton, a native of New England, in 1845 as "Plymouth". The name was changed to St. Helens in the latter part of 1850 for its view of Mount St. Helens some away in Washington. The population was 10,019 at...
, Scappoose
Scappoose, Oregon
Scappoose is a city in Columbia County, Oregon, United States. It was named for a nearby stream, which drains the southern part of the county...
, and Columbia City
Columbia City, Oregon
Columbia City is a city in Columbia County, Oregon, United States. It was named for its location on the Columbia River. The population was 1,571 at the 2000 census. The 2007 estimate is 1,955 residents.-History:...
to West Oregon Electric PUD for $7.9 million. The terms of this sale would leave the physical assets of the distribution system—the poles, wires and other components—owned by Enron
Enron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with...
, who would then manage this system as a contractor exempt from state regulation. Voter distrust of both Enron and PGE was severe enough for them to approve the measure, despite $71,592 being spent in advertisements to oppose it, in comparison to the $2,304 spent by supporters. This resulted with those three cities becoming part of the Columbia River PUD on terms far more favorable to the customers; electricity rates immediately dropped in these cities, and remain lower than those for current PGE customers.
On July 1, 1997, Enron Corporation bought PGE for $2 billion in stock and $1.1 billion in assumed debt. Then in 1999, and again in 2001, Enron attempted to sell PGE to other investor-owned utilities including Portland based NW Natural
NW Natural
NW Natural is a publicly traded utility headquartered in Portland, Oregon, United States. Primarily a natural gas distributor, the company services residential, industrial, and commercial customers in Western Oregon and Southwest Washington in the Pacific Northwest. Founded in 1859, the company...
. The corporate officers of PGE claimed that this utility was not involved in the financial misdealings of its owner, pointing to the fact that many of its employees suffered when Enron froze the 401(k)
401(k)
A 401 is a type of retirement savings account in the United States, which takes its name from subsection of the Internal Revenue Code . A contributor can begin to withdraw funds after reaching the age of 59 1/2 years...
retirement plan and were unable to sell the rapidly declining stock. However, Ken Harrison and Joseph Hirko, PGE's CEO and CFO respectively at the time of the Enron
Enron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with...
merger were charged on several felony level counts primarily related to financial misrepresentation regarding Enron Broadband Services which had its headquarters within the World Trade Center complex that comprises PGE's corporate offices. In addition Tim Belden, head of the West Coast Trading Desk and John Forney, an energy trader who invented various electricity
Electricity
Electricity is a general term encompassing a variety of phenomena resulting from the presence and flow of electric charge. These include many easily recognizable phenomena, such as lightning, static electricity, and the flow of electrical current in an electrical wire...
trading strategies such as the Death Star
Death Star (business)
The Death Star strategy, named after the Death Star, was the name Enron gave to their practice of shuffling energy around the California power grid to receive payments from the state for "relieving congestion." According to the company's own memo they would be paid "for moving energy to relieve...
, operated from the trading floor in the PGE corporate offices and were also convicted of financial crimes related to the California Electricity Crisis
California electricity crisis
The California electricity crisis, also known as the Western U.S. Energy Crisis of 2000 and 2001 was a situation in which California had a shortage of electricity caused by market manipulations and illegal shutdowns of pipelines by Texas energy consortiums...
.
Attempted acquisition from Enron
Concerned by uncertainty that the Enron bankruptcy would bring, several local governments began investigation of acquiring PGE by condemnationEminent domain
Eminent domain , compulsory purchase , resumption/compulsory acquisition , or expropriation is an action of the state to seize a citizen's private property, expropriate property, or seize a citizen's rights in property with due monetary compensation, but without the owner's consent...
. These studies were ended following the announcement on November 17, 2003 that a group called Oregon Electric Utility, led by former governor Neil Goldschmidt
Neil Goldschmidt
Neil Edward Goldschmidt is an American businessman and former Democratic politician from Oregon who held local, state, and federal offices over three decades. After serving as the governor of Oregon, Goldschmidt is widely considered the most influential figure in the state's politics, both as an...
and backed by Texas Pacific Group
Texas Pacific Group
TPG Capital is one of the largest private equity investment firms globally, focused on leveraged buyout, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations. TPG also manages investment funds specializing in growth capital, venture capital,...
, offered to buy PGE for $2.35 billion. This was the sole bid received by the bankruptcy judge, who has approved the bid. When details that Goldschmidt had been sexually involved with a minor in the 1970s emerged, he withdrew from the negotiations, and was replaced by Peter O. Kohler, president of the Oregon Health and Science University.
Many local groups voiced their suspicion that Oregon Electric Utility would be run to maximize profits short-term, rather than to the customers' benefits. These groups included Industrial Customers of Northwest Utilities, Associated Oregon Industries, the Citizen Utilities Board, as well as the majority of cities and local governments in PGE's service area. This purchase offer was denied by the Oregon Public Utility Commission
Oregon Public Utility Commission
The Oregon Public Utility Commission is the chief electric, gas and telephone utility regulatory agency of the government of the U.S. state of Oregon. It sets rates and establishes rules of operation for the state's investor-owned utility companies...
, a three-member regulatory board, on March 10, 2005.
Discomfort over the Texas Pacific purchase led to a number of voter initiatives to convert parts of PGE into PUDs. PGE defeated measures in Multnomah County
Multnomah County, Oregon
Multnomah County is one of 36 counties in the U.S. state of Oregon. Though smallest in area, it is the most populous as its county seat, Portland, is the state's largest city...
(November 14, 2003), Yamhill County
Yamhill County, Oregon
-National protected areas:*Siuslaw National Forest *Tualatin River National Wildlife Refuge -Demographics:As of the census of 2000, there were 84,992 people, 28,732 households, and 21,376 families residing in the county. The population density was 119 people per square mile . There were 30,270...
(March, 2004), and Clackamas County
Clackamas County, Oregon
Clackamas County is a county located in the U.S. state of Oregon. The county was named after the Native Americans living in the area, the Clackamas Indians, who were part of the Chinookan people. As of 2010, the population was 375,992...
(May 18, 2004).
PGE received notice of a strike
Strike action
Strike action, also called labour strike, on strike, greve , or simply strike, is a work stoppage caused by the mass refusal of employees to work. A strike usually takes place in response to employee grievances. Strikes became important during the industrial revolution, when mass labour became...
by 900 union
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
workers, effective March 8, 2004, represented by the International Brotherhood of Electrical Workers
International Brotherhood of Electrical Workers
The International Brotherhood of Electrical Workers is a labor union which represents workers in the electrical industry in the United States, Canada, Panama and several Caribbean island nations; particularly electricians, or Inside Wiremen, in the construction industry and linemen and other...
. Points over which the negotiations broke down include retiree medical benefits as well as losses in the members 401(k) plan. This labor dispute was shortly afterward resolved, and the union agreed to a new contract.
With the rejection of the Texas Pacific Group's offer, the City of Portland announced it contacted Enron to resume negotiating an offer to purchase PGE. On April 19, 2005, Portland city officials announced that they were willing to spend 7.5 million in attorneys' fees to purchase the utility. On July 6, the City Council unanimously adopted a measure to finance the acquisition of PGE by the sale of $3 billion in bonds.
Enron interim CEO Stephen Cooper called off negotiations over acquisition of PGE on July 20, 2005. Cooper stated that he did not "see a plausible solution under which our teams could reach an agreement that would lead to a transaction closing in a timely fashion". Cooper addressed several causes for the termination, including the refusal of the city to pay a $50 million deposit on the sale. The same day, Governor Ted Kulongoski
Ted Kulongoski
Theodore R. "Ted" Kulongoski is an American politician, who served as the 36th Governor of Oregon. A Democrat, he has served in both houses of the Oregon Legislative Assembly, as the state Insurance Commissioner, the Attorney General, and an Associate Justice on the Oregon Supreme Court.-Early...
vetoed a bill that would create a public corporation to purchase PGE.
Independence from Enron
On May 3, 2006, the company declared its independence from Enron, becoming a private company. PGE has since distributed its shares on the New York Stock ExchangeNew York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
and become a locally-based utility.
Thermal power plants
- Beaver Generating Plant - 500 MWeMWEMWE may refer to:*Manufacturer's Weight Empty*McDermott Will & Emery*Midwest Express, an airline*Merowe Airport - IATA code*Multiword expressionMWe may refer to:*Megawatt electrical...
- located on the northern border of Oregon. The facility consists of 6 turbine generators that exhaust to heat recovery steam generators. - Boardman generating plant (coal) - 601 MWe - located in Boardman, OregonBoardman, OregonBoardman is a city in Morrow County, Oregon, United States on the Columbia River and Interstate 84. As of the 2010 census the population was 3,220. It is part of the Pendleton–Hermiston Micropolitan Statistical Area.-History:...
. - Coyote Springs Generating Plant - 348.2 MWe - located in Boardman, Oregon; began operating in 1980. Coyote Springs is a combined cycle cogeneration plant and is a mix of hydro, coal and other natural gas-fired plants.
- Colstrip Coal - 296 MWe - located in Colstrip, MontanaColstrip, MontanaColstrip is a city in Rosebud County, Montana, United States. The population was 2,346 at the 2000 census. Established in 1924 and incorporated as a city in 1998, Colstrip is the largest city in Rosebud County with 25% of the total population. Colstrip's primary industries are coal mining and...
. - Port Westward High Efficiency Gas Power Plant located next to the Beaver plant with 400 MWe capacity (commercial operations started in 2007). Has since won awards for innovation.
- Total: 1,785.20 MWe
Hydroelectric plants
- Bull RunBull Run Hydroelectric ProjectThe Bull Run Hydroelectric Project was a Portland General Electric development in the Sandy River basin in the U.S. state of Oregon. Originally built between 1908 and 1912 near the town of Bull Run, it supplied hydroelectric power for the Portland area for nearly a century, until it was removed in...
(SandySandy River (Oregon)The Sandy River is a tributary of the Columbia River in northwestern Oregon in the United States. Measured by a United States Geological Survey gauge downstream of the Sandy's confluence with the Bull Run River, from the mouth, the river's average discharge is . The maximum daily recorded flow...
and Little Sandy rivers) - 22 MWe (decommissioned, 2007) - Faraday (Clackamas RiverClackamas RiverThe Clackamas River is an approximately tributary of the Willamette River in northwestern Oregon, in the United States. As it drains an area of about , the Clackamas passes through mostly forested and rugged mountainous terrain in its upper reaches, and passes through agricultural and urban areas...
) - 44 MWe - North Fork (Clackamas River) - 54 MWe
- Oak GroveOak Grove Hydroelectric ProjectThe Oak Grove Hydroelectric Project is a 44 megawatt hydroelectric plant operated by Portland General Electric on the Oak Grove Fork Clackamas River. Water for this project is held by three lakes, built between 1923 and 1956. The dam creates the impoundment Lake Harriet.- History :In 1907, the...
(Clackamas River) - 44 MWe - Pelton (Deschutes River) - 108 MWe
- River Mill (Clackamas River) - 25 MWe
- Round Butte (Deschutes River) - 300 MWe
- Sullivan (Willamette RiverWillamette RiverThe Willamette River is a major tributary of the Columbia River, accounting for 12 to 15 percent of the Columbia's flow. The Willamette's main stem is long, lying entirely in northwestern Oregon in the United States...
) - 16 MWe- Total: 613.00 MWe
Grand Total: 2398.2 MWe
Renewable energy sales
In 2008, 2009, and 2010 the utility ranked #2 in nation-wide sales of renewable energy to customers according to the National Renewable Energy LaboratoryNational Renewable Energy Laboratory
The National Renewable Energy Laboratory , located in Golden, Colorado, is the United States' primary laboratory for renewable energy and energy efficiency research and development. The National Renewable Energy Laboratory is a government-owned, contractor-operated facility; it is funded through...
.
Vehicle charging stations
The utility is installing 12 electric vehicleElectric vehicle
An electric vehicle , also referred to as an electric drive vehicle, uses one or more electric motors or traction motors for propulsion...
charging station
Charging station
An electric vehicle charging station, also called EV charging station, electric recharging point, charging point and EVSE , is an element in an infrastructure that supplies electric energy for the recharging of electric vehicles, plug-in hybrid electric-gasoline vehicles) or semi-static and mobile...
s in Portland
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
and Salem
Salem, Oregon
Salem is the capital of the U.S. state of Oregon, and the county seat of Marion County. It is located in the center of the Willamette Valley alongside the Willamette River, which runs north through the city. The river forms the boundary between Marion and Polk counties, and the city neighborhood...
as part of a demonstration project to develop the transportation infrastructure needed to support electric vehicle
Electric vehicle
An electric vehicle , also referred to as an electric drive vehicle, uses one or more electric motors or traction motors for propulsion...
s, and specially anticipate the demand plug-in cars.