Taking Another Step toward a Clean Energy Future, PGE Shares Draft RFP for New Renewable Resources
March 01 2018 - 4:39PM
Business Wire
Seeks input from stakeholders, potential
bidders
Portland General Electric Company (NYSE: POR) has taken another
step toward achieving a clean and reliable energy future for its
customers and the communities it serves by circulating a draft
request for proposals seeking 100 average megawatts of renewable
power generating resources. The company will hold workshops on
Friday, March 2 to provide additional information to stakeholders
and potential bidders.
The additional renewable energy – the equivalent of one large
wind farm – is expected to help PGE meet its proportionate share of
Oregon’s greenhouse gas reduction goal, which will require cutting
carbon emissions in the utility’s system 80 percent by 2050. It
will also count toward achievement of Oregon’s renewable portfolio
standard. Under the Oregon standard, PGE must supply 50 percent of
its customers’ electricity needs from qualifying renewable
resources by 2040.
“By continuing to drive down emissions using a diverse portfolio
of clean, reliable and renewable energy resources, and promoting
economy-wide emission reductions through electrification and smart
energy use, we will bring a clean, cost-effective energy future to
Oregon,” said Maria Pope, PGE’s president and CEO. “This request
for proposals for renewable energy will be an open, competitive
process to assure we are able to identify the best options to
expand our renewable portfolio while keeping electric service
affordable and reliable for our customers.”
RFP details and process
Bids submitted when the RFP is finalized and issued must meet a
minimum size of at least 10 megawatts, and can represent a variety
of technologies including geothermal, biomass, biogas, solar, wind
and hydroelectric power. Bids can also be structured in a variety
of ways, including power purchase agreements or proposals for
facilities that PGE would own and operate. If bids received prove
cost effective for service to customers, PGE may acquire a single
resource or a mix of resources to achieve the total desired
renewable energy target, and expects the resources acquired to be
brought into the company’s portfolio in the 2020-2021
timeframe.
By sharing the draft, PGE is giving potential bidders and
interested stakeholders an opportunity to ask questions and offer
suggestions to improve the RFP before it is issued formally. The
company will respond to all feedback received. Any resulting
changes will be incorporated prior to issuing the final RFP this
spring.
The RFP will be conducted under guidelines established by
the Oregon Public Utility Commission and is a significant step
in implementing PGE’s current integrated resource plan, which the
OPUC acknowledged in 2017. Consistent with those guidelines, the
OPUC has retained an independent evaluator, Bates White, to monitor
PGE’s procurement process. Bates White will host a website,
available next week, where bidders and stakeholders may ask
questions of PGE regarding the RFP so that the answers will be
available to all participants in the process.
PGE will hold two workshops on Friday, March 2 to provide
information and answer questions for potential bidders and
stakeholders. The stakeholder workshop will be held from 10 a.m. to
noon, PST, in the Sky Bridge Conference Room of the 2 World Trade
Center Building, 121 SW Salmon Street in Portland. The bidder
workshop will be held from 1 p.m. to 3 p.m. at the same
location.
The draft RFP and appendices are available online at
www.PortlandGeneral.com/2018RenewableRFP.
About Portland General Electric Company: Portland General
Electric (NYSE: POR) is a fully-integrated energy company based in
Portland, Oregon, serving 875,000 customers in 51 cities. For more
than 125 years, PGE has been delivering safe, reliable energy to
Oregonians. With 2,900 employees across the state, PGE is committed
to building a cleaner, more efficient energy future. Together with
its customers, PGE has the number one voluntary renewable energy
program in the U.S. For more information, visit
PortlandGeneral.com.
Safe Harbor Statement
Certain statements contained in this press release may
constitute forward-looking statements that are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. They are not guarantees of future events. Rather, they
are based on current expectations, estimates, beliefs and
assumptions and are subject to uncertainties that are difficult to
predict. As a result, actual events or results may differ
materially from the statements made. Forward-looking statements
made in this press release include statements regarding the
company’s energy strategy for future periods, the implementation
and outcome of requests for proposals, and the acquisition of
additional resources to meet retail customer demand and the
requirements of Oregon’s Renewable Energy Standard. These
forward-looking statements are based upon our assumptions about and
assessment of the future, which may or may not prove true, and
involve a number of risks and uncertainties including, but not
limited to, risk factors detailed in the Company's most recent
Annual Report on Form 10-K, the Company’s reports on Form 10-Q and
other filings with the United States Securities and Exchange
Commission.
POR-FSource: Portland General Electric Company
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version on businesswire.com: http://www.businesswire.com/news/home/20180301006582/en/
Portland General Electric CompanySteve Corson,
503-464-8444Steven.Corson@pgn.com
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