PGE posts lower Q2 results
Get ready for a series of major investments and associated rate increases by Portland General Electric Co. ...The Portland-based utility told financial analysts Thursday that it was pulling the plug on a near-term plan to add 218 megawatts of new wind power because of financial market conditions.
The company still plans, however, to complete the ongoing expansion of its Biglow Canyon wind farm and add another 300 to 400 megawatts of wind or other renewable power to meet Oregon's renewable energy standard by 2015.
August 3, 2009
by Ted Sickinger
in The Oregonian
Get ready for a series of major investments and associated rate increases by Portland General Electric Co.
PGE released fairly dismal second quarter earnings results today as the recession cut into customer demand and wholesale power sales. But the company also provided the first glimpse of the resource plan it will release later this summer, and assured analysts that it could grow earnings by 6 to 8 percent a year in the future if regulators approve its plans to invest billions in new power plants, transmission lines and distribution equipment.
PGE will release its Integrated Resource Plan later this summer... [continue via Web link]