PacifiCorp sells Washington service area to Portland General Electric for $1.9B

PACIFICORP /OR/

Sale includes Chehalis gas plant, Goodnoe Hills & Marengo wind, and distribution assets.
Purchase price $1.9B in cash, subject to standard adjustments; no financing condition.
Regulatory approvals required from multiple state commissions and FERC; termination fee $35M.
CEO Darin Carroll cites diverging state policies as pressure, expects improved financial stability.
Expected to close by August 2027 (extendable 6 months); seamless transition for Washington employees.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PACIFICORP /OR/ entered into Asset Purchase and Service Area Transfer Agreement with Portland General Electric Company and an affiliate of Portland General Electric Company valued at $1.9 billion in cash (effective 2026-02-15).

Action: entry
Agreement: asset purchase
Counterparty: Portland General Electric Company and an affiliate of Portland General Electric Company
Value: $1.9 billion in cash
Effective: 2026-02-15

Exact text from the filing

On February 15, 2026, PacifiCorp and Portland General Electric Company and an affiliate of Portland General Electric Company (together, the “Buyer”) entered into an Asset Purchase and Service Area Transfer Agreement (the “Purchase Agreement”), to sell to the Buyer certain PacifiCorp assets and liabilities associated with PacifiCorp’s Washington operations for a purchase price of $1.9 billion in cash

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Source: SEC EDGAR

accession 0000075594-26-000004

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