RFP process seeks bids for new energy
resources to provide resource adequacy during the clean energy
transition
PORTLAND, Ore., Feb. 5, 2024
/PRNewswire/ -- On Friday, February
2, Portland General Electric (PGE) issued to market its 2023
All-Source Request for Proposal (RFP), seeking bids for resources
that can provide non-emitting dispatchable capacity and renewable
generation projects. This RFP is PGE's largest open application
process to date and is the first in the company's recent history to
provide a flexible timeline for the start of operations. The scope
and scale of this procurement process demonstrates PGE's commitment
to reliability for customers during the clean energy
transition.
"This RFP is an important step to ensuring resource
adequacy for PGE customers and communities as we decarbonize
Oregon's power supply," said
Brett Sims, PGE Vice President of
Energy Supply and Resource Strategy. "Our aim is to attract broad
participation from energy developers with projects that offer
reliability, flexibility and maximum customer value."
This RFP, which accepts proposals for resources with a start
date between 2025 and the end of 2027, is consistent with the
objectives described in PGE's 2023 Integrated Resource Plan, which
was acknowledged by the Oregon Public Utility Commission (OPUC) on
January 25, 2024. PGE will accept and
evaluate bids throughout the first quarter of 2024 and present a
shortlist of top-performing projects for OPUC acknowledgement later
in the year.
As the company reduces emissions, PGE is pursuing a number of
procurement actions in addition to this All-Source RFP, including
community-based renewable energy projects and an information
discovery process to guide future procurements to meet ongoing
customer needs.
More information about the RFP process, deadlines, and schedule,
along with filed documents, can be found
at portlandgeneral.com/rfp.
About Portland General Electric Company:
Portland General Electric (NYSE: POR) is a fully integrated
energy company that 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. For more information visit
www.PortlandGeneral.com/news.
www.PortlandGeneral.com/news.
Safe Harbor Statement:
Statements in this news release that relate to future plans,
objectives, expectations, performance, events and the like may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements made in this press release include statements regarding
emissions reductions and grid reliability, Portland General
Electric's energy strategy for future periods, the implementation
and outcome that strategy, and the acquisition of additional
resources to meet retail customer demand as well as other
statements containing words such as "anticipates," "believes,"
"intends," "estimates," "promises," "expects," "should,"
"conditioned upon," and similar expressions. Investors are
cautioned that any such forward-looking statements are subject to
risks and uncertainties, including failure to complete capital
projects on schedule or within budget, or the abandonment of
capital projects; changes in capital market conditions, which could
affect the availability and cost of capital and result in delay or
cancellation of capital projects; the outcome of various legal and
regulatory proceedings; general economic and financial market
conditions; and the cost and availability of services, products and
technology. As a result, actual results may differ materially from
those projected in the forward-looking statements. All
forward-looking statements included in this news release are based
on information available to the company on the date hereof and such
statements speak only as of the date hereof. The company expressly
disclaims any current intention to update publicly any
forward-looking statement after the distribution of this release,
whether as a result of new information, future events, changes in
assumptions or otherwise. Prospective investors should also review
the risks, assumptions and uncertainties listed in the company's
most recent annual report on form 10-K and in other documents that
we file with the United States Securities and Exchange Commission,
including management's discussion and analysis of financial
condition and results of operations and the risks described therein
from time to time.
SOURCE: Portland General Company (POR)
CONTACTS:
Allison Dobscha, Portland General
Electric Company
PGEcommunications@pgn.com
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SOURCE Portland General Company
