![]() ![]() Request for Proposals (RFP): PGE expects to bring on at least 375 to 500 MW of renewable resources and 375 MW of non-emitting dispatchable capacity by the end of 2024. ![]() PGE is seeking approximately 1,000 MW of renewable and non-emitting capacity resources by initiating its public request for proposals process in December. As a result, PGE estimates by 2030 it will need approximately 1,500 to 2,000 MW of clean and renewable resources and approximately 800 MW of non-emitting dispatchable capacity resources. Lower tax expense was associated with asset retirement timing differences.Īdvancing Plans to Add Renewables and Non-Emitting ResourcesĪs previously announced, PGE estimates that it will need to nearly triple the amount of clean and renewable energy serving customers, in addition to removing coal from its portfolio. Administrative expenses increased primarily due to normalization of incentive expenses compared to the prior year and wage and benefit pressures. Operating expenses increased, primarily driven by additional vegetation management for wildfire prevention. Purchased power and fuel expense increased in part due to lower hydro and wind production. Total revenues were driven by higher retail energy deliveries, due to strong residential demand, growth in high-tech manufacturing, and the impacts of warmer weather. Third Quarter 2021 Compared to Third Quarter 2020 "We are pleased to be issuing the renewable RFP in December, an important step in meeting our decarbonization goals while also ensuring we have sufficient generating capacity as we transition to a clean energy future." "While high temperatures and power market volatility significantly impacted our region and results this quarter, our year-to-date performance is on track," said Maria Pope, PGE president and CEO. This compares with a loss of $17 million, or 19 cents per diluted share, for the third quarter of 2020, which reflects the $1.09 loss per diluted share from previously disclosed trading losses. 29, 2021 /PRNewswire/ - Portland General Electric Company (NYSE: POR) today reported net income of $50 million, or 56 cents per diluted share, for the third quarter of 2021. Reaffirming 2021 earnings guidance of $2.70 to $2.85 per diluted share Moving forward with procurement for renewable resources and non-emitting capacity in December Achieved significant progress on strategic goals, including filing of inaugural distribution system plan, and reached supportive GRC stipulations Continued strong retail deliveries, high customer growth, and challenging power market volatility ![]()
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