Another rate hike? Portland General Electric asks for double-digit increase in 2025

PORTLAND, Ore. ( KOIN ) – Portland General Electric is once again asking for a rate increase to take effect in 2025 — this time for 10.9%.

The utility company first requested state regulators to approve a 7.4% rate increase back in February. Now, according to a recent filing with the Oregon Public Utility Commission (PUC) first reported by The Oregonian , PGE has upped its request for a total revenue increase of $294.844 million in base sales.

When PGE made its initial 2025 request, the company said the proposed increase would support “investments in local battery energy storage systems to enhance reliability and flexibility, and other system upgrades.”

The request then fell into the hands of the utility commission to conduct a 10-month review including customer testimonies, hearings and a financial analysis.

In April, the PUC struck down a request by a local advocacy group to deny the increase . According to the commission, doing so would have set a negative precedent.

However, the new request has concerned PUC staff members like Russ Beitzel, who said the proposed rate impacts “constitute an unreasonably high energy burden for PGE customers.”

“Staff finds PGE’s request for this rate increase so soon after the rate increase on January 1, 2024, and the request to track in a $49 million revenue requirement increase in July 2025, fail to recognize the real economic consequences of increasing electricity prices for customers,” Beitzel said. “In other words, the timing of this rate case implies PGE’s paramount interest is not in managing its costs for the benefit of customers, but in managing regulatory mechanisms for the benefit of the Company.”

In January 2024, the utility company’s 18% increase hit customers’ wallets right at the start of a week-long ice storm that downed power lines and led to outages throughout the Willamette Valley.

The new request, if accepted by the PUC, would make the total amount of increases from the past four years equal more than 40% combined.

PGE shared the following statement with KOIN 6 News on Thursday:

“ The rate review process is a multi-step, months long proceeding that takes into account a variety of factors including ongoing power costs, customer and stakeholder input, settlement decisions and is ultimately decided by the Oregon Public Utilities Commission. The recent adjustment in PGE’s rate review ask is primarily due to power costs. At this time, no final rate case determination has been made and no number is final. “

Stay with KOIN 6 News as this story develops.

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