OPUC approves PGE's Seaside battery storage rate recovery; $220M rate base, 9.34% ROE

PORTLAND GENERAL ELECTRIC CO /OR/

Rate base increase of $220M net of $125M ITC benefits; annual revenue requirement increase $42M vs $46M filed.
Order adopts 9.34% return on equity for Seaside project serving customers since July 2025.
$6M revenue requirement increase for remainder of 2025, inclusive of NVPC customer benefits.
Earnings test adopted to track revenues and refund excess earnings if ROE exceeds authorized level.
Seaside revenue requirement effective October 31, 2025; NVPC included in 2026 AUT filings.

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