Portland General Electric Files Inaugural Clean Energy Plan

Rhea-AI Summary

Portland General Electric (PGE) has filed its combined Integrated Resource Plan and inaugural Clean Energy Plan, outlining a roadmap to meet Oregon's greenhouse gas emissions targets by 2030. The plan emphasizes reliance on available commercial tools, including renewable energy projects, non-emitting capacity like batteries, and regional collaboration. Notably, PGE achieved a 25% reduction in emissions in 2022. The company's commitment extends to an 80% reduction in greenhouse gas emissions by 2030 and 100% by 2040. PGE aims to maintain reliability and affordability while transitioning to cleaner energy solutions.

Positive

• PGE's Clean Energy Plan targets an 80% reduction in greenhouse gas emissions by 2030 and 100% by 2040.
• Achieved a 25% decrease in emissions from baseline to actual emissions in 2022.
• Utilization of commercially available tools for renewable energy projects supports long-term sustainability.

Negative

• None.

Plan outlines 2030 targets are achievable with tools and resources commercially available today.

PORTLAND, Ore., March 31, 2023 /PRNewswire/ -- Portland General Electric (PGE) (NYSE:POR) filed its combined Integrated Resource Plan and inaugural Clean Energy Plan, a comprehensive roadmap detailing how the company will meet customers' energy needs and Oregon's ambitious greenhouse gas emissions targets while maintaining reliability, safety and affordability. PGE's path to reach these targets is possible with resources available today and the company's strategy involves utilizing commercially available tools between now and 2030, including:

• New utility scale renewable projects like wind and solar installations, both in-state and out-of-state, and the necessary transmission to bring it to local customers.
• Non-emitting capacity such as batteries.
• Community based renewable energy and customer-sited solutions, including energy efficiency, solar, battery storage, and demand response programs.
• Collaboration in regional markets and partnerships that allow PGE and other utilities to pool resources and source clean energy from across the West.
• Upgrades to local transmission lines and new regional transmission solutions to accommodate growth and bring a greater geographic diversity of resources to PGE's portfolio.

PGE has already taken significant steps to decarbonize their system and reported a 25% decrease from baseline to actual emissions in 2022.

"This plan reflects the values and expectations of our customers who, for decades, have made clean energy a top priority," said Maria Pope, Portland General Electric's president and CEO. "Achieving decarbonization will require continued collaboration with our customers and community partners at the local, state and federal levels. At PGE, we are committed to making the investments in innovation, diverse resources and the electric grid necessary to decarbonize our energy system, while we continue to focus on affordability during the clean energy transition."

More information on the combined Clean Energy Plan and Integrated Resource Plan filing can be found HERE.

About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully integrated energy company that generates, transmits and distributes electricity to over 900,000 customers in 51 cities across the state of Oregon. For more than 130 years, Portland General Electric (PGE) has powered the advancement of society, delivering safe, affordable, reliable and increasingly clean energy. To deliver on its strategy and meet state targets, PGE and its approximately 3,000 employees are committed to partnering with stakeholders to achieve at least an 80% reduction in greenhouse gas emissions from power served to customers by 2030 and 100% reduction by 2040. PGE customers set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. Additionally, for the fifth year in a row, PGE was recognized by the Bloomberg Gender-Equality Index which highlights companies committed to creating a more equal and inclusive workplace. As a reflection of the company's commitment to the community it serves, in 2022, PGE employees, retirees and the PGE Foundation donated nearly $5.5 million and volunteered more than 18,000 hours with more than 400 nonprofits across Oregon. For more information visit www.PortlandGeneral.com/news.

CONTACT: 
PGE Communications Team
pgecommunications@pgn.com
503.464.2067

Source: Portland General Company

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-files-inaugural-clean-energy-plan-301787196.html

SOURCE Portland General Company

FAQ

What is Portland General Electric's plan for 2030 regarding emissions?

PGE aims for an 80% reduction in greenhouse gas emissions by 2030.

How much did PGE reduce its emissions in 2022?

PGE reported a 25% decrease in emissions from baseline to actual emissions in 2022.

What type of energy projects is PGE planning to implement?

PGE plans to implement new utility scale renewable projects, non-emitting capacity, and community-based renewable energy solutions.

When was PGE's Clean Energy Plan filed?

PGE filed its Clean Energy Plan on March 31, 2023.

What resources will PGE use to achieve its Clean Energy Plan goals?

PGE will use commercially available tools, including wind and solar installations, batteries, and regional collaborations.