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Portland General Electric Announces Second Quarter 2021 Results
- Second quarter results reflect strong retail deliveries and customer growth
- Reliable operations as new peak load record set
- Strategic decarbonization goals align with legislative passage of Oregon s new clean energy legislation
- 2022 test year general rate case filed to recover primarily base business investments
- Raising 2021 earnings guidance from $2.55 to $2.70 to $2.70 to $2.85 per diluted share
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PORTLAND, Ore., July 30, 2021 /PRNewswire/ Portland General Electric Company (NYSE: POR) today reported net income of $32 million, or 36 cents per diluted share, for the second quarter of 2021. This compares with net income of $39 million, or 43 cents per diluted share, for the second quarter of 2020.
PORTLAND GENERAL ELECTRIC CO /OR/ FILES (8-K) Disclosing Other Events energycentral.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energycentral.com Daily Mail and Mail on Sunday newspapers.
Item 8.01 Other Events.
The State of Oregon continues to promote a decarbonized economy. Portland General Electric Company (PGE, or the Company) partners with customers and local and state governments to advance a clean energy future.
In May 2020, the Public Utility Commission of Oregon (OPUC) issued an order that acknowledged the Company s 2019 Integrated Resource Plan (IRP) and an Action Plan for PGE to undertake over the next four years to acquire the resources identified that included, in part, dispatchable capacity through the pursuit of cost-competitive, bilateral contract agreements for existing capacity in the region. In addition, the Company would conduct a request for proposal (RFP) for non-emitting, dispatchable resources that contribute to meeting PGE s capacity needs.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Portland General Electric announces 2020 financial results and initiates 2021 earnings guidance
February 19, 2021 GMT
PORTLAND, Ore., Feb. 19, 2021 /PRNewswire/ Portland General Electric Company (NYSE: POR) today reported net income based on generally accepted accounting principles (GAAP) of $155 million, or $1.72 per diluted share, for the year ended December 31, 2020, which includes the $1.03 loss per diluted share from previously disclosed energy trading losses. After adjusting for the impact of the energy trading losses, non-GAAP net income was $247 million, or $2.75 per diluted share. This compares with GAAP net income of $214 million, or $2.39 per diluted share, for the year ended December 31, 2019. GAAP net income was $52 million, or $0.57 per diluted share, for the fourth quarter of 2020. This compares with GAAP net income of $61 million, or $0.68 per diluted share, for the fourth