From: Tyesha Woods

Sent: Fri Dec 20 13:48:32 2019

To: Gerald Fisher

Cc: Andy Peters

Subject: PGE 2020 Rate Update

Importance: Normal

Attachments: image002.jpg;

Hello Gerald,

I wanted to provide you with the high level estimated price changes which will be effective January 1, 2020. The Oregon Public Utility Commission has approved adjustments to Portland General Electric’s customer prices that will result in an overall increase of about 1.9 percent.

Most of the increase – 84 percent – reflects projections for higher wholesale power and fuel costs next year. Managing costs carefully to deliver clean, reliable electricity to our customers at a fair price is at the core of our business, and we’re pleased that from 2015 to 2019 our prices increased an average of less than one percent annually – less than the rate of inflation.

The increase next year is driven largely by mandates we face to purchase power from certain small renewable power and cogeneration facilities at above-market prices. While we are strong supporters of renewable power development, we also believe the clean energy transformation needs to be accomplished at the least possible cost to utility customers. We’re working actively with the OPUC and stakeholders to try to modernize the outdated rules governing these requirements.

In addition to the power cost update in January, a small increase will take effect on February 1, 2020, to reflect the inclusion of the new Oregon Corporate Activities Tax in prices. The OCAT was enacted by the state legislature earlier this year and will increase PGE prices by another 0.4 percent overall, which is incremental to the pricing outlined above.

I will find time in the coming weeks to reach out to you and answer any questions you may have.

Thanks…T Woods

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