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PGE Issues RFP For New Renewable Resources

Stocks in this article: POR

Portland General Electric Company (NYSE:POR) today issued a request for proposals seeking power generating resources to help PGE comply with Oregon’s renewable energy standard.

“A growing percentage of the electricity we deliver to our customers comes from renewable resources,” said Jim Lobdell, PGE’s vice president for power operations and resource strategy. “This RFP will be an important step in meeting the state’s renewable power goals, and together with our separate RFP for baseload and capacity resources will help solidify our ability to continue providing reliable, affordable power to our customers for years to come.”

The RFP seeks approximately 100 average megawatts of renewable power – enough to serve more than 83,000 typical PGE residential customers. Renewable generation resources must meet a minimum size of at least 10 megawatts, and can represent a variety of technologies including wind, geothermal, biomass, biogas, solar, and hydroelectric power. PGE may acquire a single resource or a mix of resources to achieve the total desired renewable energy target, and anticipates the resources acquired will be brought into the company’s portfolio in the 2013-2017 timeframe.

The utility circulated a draft of the RFP to stakeholders and potential bidders and held workshops before submitting the draft to the Oregon Public Utility Commission on July 25. Following OPUC staff and stakeholder comments, PGE submitted a revised draft on Sept. 10. The commission approved PGE’s renewable resource RFP at a public meeting on Sept. 25.

This RFP will be conducted pursuant to guidelines established by the OPUC and is a significant step in implementing PGE’s current integrated resource plan.

PGE issued a separate RFP earlier this year, seeking baseload energy resources as well as flexible and seasonal capacity resources. The company is currently evaluating the bids received, and expects to develop a short list of bids for negotiation by the end of November.

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