Portland General Electric announces second quarter 2019 results

Aug. 02, 2019

  • Filed 2019 Integrated Resource Plan; identified need for 150 MWa renewable resources, energy efficiency, demand response and actions to add more capacity

  • Plans to construct an Integrated Operations Center centralizing key resilience and reliability functions

  • Maintaining full year 2019 earnings guidance of $2.35-$2.50 per share

PORTLAND, Ore., Aug. 2, 2019 /PRNewswire/ -- Portland General Electric Company (NYSE: POR) today reported net income of $25 million, or 28 cents per diluted share, for the second quarter of 2019. This compares with net income of $46 million, or 51 cents per diluted share, for the second quarter of 2018.

"This quarter, we navigated challenging regional power markets with significantly lower hydro production and are maintaining full year guidance," said Maria Pope, PGE president and CEO, "We are also pleased to have filed our Integrated Resource Plan and to announce the construction of an Integrated Operations Center, which will enhance grid safety, resilience and security."