News Release Details

PORTLAND, Ore., Jun 13, 2006 (BUSINESS WIRE) -- Portland General Electric Company (NYSE:POR) today announced its coal-fired Boardman Power Plant is out of service for repairs and is estimated to be offline until early July. Portland General Electric (PGE) has a 65 percent ownership share in the plant.

Mechanical problems were encountered in early June when a balance weight in one of the plant's low pressure turbines came loose. Initial inspections show this weight may have damaged some turbine blades and related components inside the low pressure turbine unit.

PGE engineers and technical experts are working to assess and fix the damaged areas so that the plant can be returned to service as soon as possible. It is estimated at this point that the repair efforts may take between two to four weeks to complete, resulting in $1 million to $4 million of incremental replacement power costs.

"While Boardman is out of service, PGE is covering the gap through wholesale power markets and the company's other supply portfolio resources," said Jim Lobdell, PGE vice president of power operations and resource strategy. "From a replacement power perspective, it helps that the weather is relatively mild this time of year and that stream flows right now are higher than we've seen in the last six years."

About Portland General Electric Company

Portland General Electric, headquartered in Portland, Ore., is a fully integrated electric utility that serves more than 780,000 residential, commercial and industrial customers in Oregon. Visit our Web site at www.PortlandGeneral.com.

Safe Harbor Statement

Statements in this news release that relate to future plans, objectives, expectations, performance, events and the like may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words including, but not limited to, "anticipates," "believes," "intends," "estimates," "promises," "expects," "should," "conditioned upon" and similar expressions. Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties, including matters and events related to the extent of the damage and the timing of and effectiveness of the repairs to the Boardman turbine and the price and availability of wholesale energy. As a result, outcomes may differ materially from those projected in the forward-looking statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof and such statements speak only as the date hereof. The Company assumes no obligation to update any such forward-looking statement. Prospective investors should also review the risks and uncertainties listed in the Company's most recent Annual Report on Form 10-K and the Company's reports on Forms 10-Q and 8-K filed with the United States Securities and Exchange Commission, including Management's Discussion and Analysis of Financial Condition and Results of Operations and the risks described therein from time to time.

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Source: Portland General Electric Company

SOURCE: Portland General Electric Company

PGE
Scott Simms, 503-464-7342

Copyright Business Wire 2006

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