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PGE Issues RFP For Electric Power Generating Resources

Stocks in this article: POR

PGE plans to submit self-build “benchmark” proposals in this competitive bidding process for new energy and capacity resources, and will also allow third-party bidders an option to submit proposals to build on PGE-owned sites -- the “Carty” site near PGE’s existing Boardman Power Plant for the baseload resource and a site adjacent to PGE’s existing Port Westward Plant for the flexible capacity resource. PGE will own and operate any resources developed on PGE’s sites.

Accion Group, Inc., an independent evaluator hired by the OPUC, will assist in conducting the RFPs and reviewing bids to assure an open and impartial process. The independent evaluator will also provide an assessment of the bid scoring, including PGE’s benchmark proposals, and short list selection resulting from the RFPs. The independent evaluator will then issue a closing report with a detailed assessment of the process and its results.

Further information on the RFPs, the workshops and the competitive bidding process is available online at PortlandGeneralRFP.accionpower.com.

About Portland General Electric Company

Portland General Electric, headquartered in Portland, Ore., is a vertically-integrated electric utility that serves more than 825,000 residential, commercial and industrial customers in Oregon. Visit our Web site at www.PortlandGeneral.com.

Safe Harbor Statement

All statements contained in this press release that are not historical facts are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. They are not guarantees of future events. Rather, they are based on current expectations, estimates, beliefs and assumptions and are subject to uncertainties that are difficult to predict. As a result, actual events or results may differ materially from the statements made. Forward-looking statements made in this press release include statements regarding the company’s energy strategy for future periods, the implementation and outcome of requests for proposals, and the acquisition of additional capacity to meet customer demand. These forward-looking statements are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to, risk factors detailed in the Company’s most recent Annual Report on Form 10-K, the Company’s reports on Form 10-Q and other filings with the United States Securities and Exchange Commission.

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