OPUC approves customer price changes to take effect January 2024

Dec. 18, 2023

The Oregon Public Utility Commission has approved a general rate increase and power cost update for all PGE customers. New prices will take effect January 2024.

PGE understands the impact of price increases on our customers given rising costs across many aspects of Oregonians’ lives. These new rates take into account inflation and power costs, upgrades to the grid and investments focused on increased resiliency, security and reliability for all customers.

The Commission will act on other filings on December 28, 2023, that may slightly increase or decrease customer rates, but the anticipated overall impact of these and the earlier rate decisions is anticipated to be an 18% increase for residential customers effective January 1, 2024.

The exact amount customer bills will increase differs based on customer class and energy usage. Below shows the increase in rates for each customer type assuming the OPUC approves the remaining filings on December 28:

  • 18% for residential customers

  • 14.4% for commercial customers

  • 11.6% for industrial customers

Three things to know about these rate changes:

1. Over the past year, PGE has made significant upgrades to deliver safe, reliable and resilient energy to our customers during a time of development and expansion in the company’s service territory.

Delivering safe, reliable power is the top priority. Investments made this year include greater safety and resiliency during extreme weather, like heat waves and harsh winters. This includes undergrounding more than 100 miles of new distribution power lines, trimming over 3,700 miles of vegetation, installing fire-resistant poles, expanding our weather monitoring network and installing over 30 Artificial Intelligence-equipped cameras that allow us to quickly detect fires or other hazards to protect our customers and communities.

2. PGE works hard to keep the cost of electricity as low as possible.

The company continues to find ways to reduce customer bill impacts through strategic investments, partnerships, grants and federal incentives while providing customers with reliable and increasingly clean energy. As a company, PGE works hard to bring federal resources to Oregon to cover transmission and grid investments, take advantage of new grants and credits from the Inflation Reduction Act / Infrastructure Investment and Jobs Act and connect customers with new federal tax credits, rebates and incentives.

3. PGE is here to help customers manage their energy use and costs.

There are a variety of free tools like usage dashboards, rebates and incentives for energy efficiency as well as energy management programs such as Time of Day Pricing, Equal Pay, Peak Time Rebates, Smart Thermostat and EV Smart Charging. We also continue to expand our Income Qualified Bill Discount Program (IQBD) and offer a variety of assistance and resources for customers in need.

To learn more and enroll in an energy assistance or cost savings program visit portlandgeneral.com/save-money or to learn more about IQBD visit portlandgeneral.com/income-qualified-bill-discount or call 503-228-6322 and one of our Customer Service Advisors will walk you through it.

Visit the Oregon Public Utility Commission’s website for information on rate adjustments and tariffs (rates) PGE.

About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully integrated energy company that generates, transmits and distributes electricity to over 900,000 customers in 51 cities across the state of Oregon. For more than 130 years, Portland General Electric (PGE) has powered the advancement of society, delivering safe, affordable, reliable and increasingly clean energy. To deliver on its strategy and meet state targets, PGE and its approximately 3,000 employees committed to partnering with stakeholders to achieve at least an 80% reduction in greenhouse gas emissions from power served to customers by 2030 and 100% reduction by 2040. PGE customers set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. Additionally, for the fifth year in a row, PGE was recognized by the Bloomberg Gender-Equality Index which highlights companies committed to creating a more equal and inclusive workplace. As a reflection of the company's commitment to the community it serves, in 2022, PGE employees, retirees and the PGE Foundation donated nearly $5.5 million and volunteered more than 18,000 hours with more than 400 nonprofits across Oregon. For more information visit PortlandGeneral.com/news.