SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549


                                 Form 8-K

                              CURRENT REPORT


                  Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934


    Date of Report (Date of earliest event reported) November 12, 1996


                        Registrant; State of Incorporation;  IRS Employer
COMMISSION FILE NUMBER  ADDRESS; AND TELEPHONE NUMBER        IDENTIFICATION NO.

 1-5532                 PORTLAND GENERAL CORPORATION         93-0909442
                        (an Oregon Corporation)
                        121 SW Salmon Street
                        Portland, Oregon 97204
                        (503) 464-8820


 1-5532-99              PORTLAND GENERAL ELECTRIC COMPANY    93-0256820
                        (an Oregon Corporation)
                        121 SW Salmon Street
                        Portland, Oregon 97204
                        (503) 464-8000



           121 S.W. SALMON STREET, PORTLAND, OREGON            97204
           (Address of principal executive offices)         (zip code)

      Registrant's telephone number, including area code 503-464-8820


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 ITEM 5.             OTHER EVENTS

 SHAREHOLDERS APPROVE MERGER - At a special shareholder meeting on November 12,
  1996  in  Portland, Oregon the shareholders of Portland General Corporation's
 (Portland General) common stock voted to approve the transactions contemplated
 by the merger  agreement  between  Portland  General,   Enron  Corp. and Enron
  Oregon  Corp.   For  further  information  regarding the proposed merger  see
 Portland General's report on Form 10-Q for the  quarter  ended  September  30,
 1996.

  SETTLEMENT  REACHED  ON RATE PROPOSAL - On November 15, 1996 Portland General
 Electric Company (PGE or  the Company), the staff (Staff) of the Oregon Public
 Utility Commission (OPUC or  the  Commission)  and the Citizen's Utility Board
 entered into a stipulation for a joint recommendation  to  the  Commission  on
  PGE's August 6, 1996 rate proposal.  The stipulation recommends approximately
 $55  million  in annual incremental rate reductions beginning December 1, 1996
 to be shared by all customer  classes.  PGE's original proposal included
 accelerated amortization of PGE's Trojan  Nuclear  Plant  (Trojan)  investment
  which  the  stipulation  replaces with additional rate reductions.  If
 approved, the rate reductions would result in an after tax earnings decrease of
 approximately $32 million for 1997.   In addition the stipulation incorporates
 approximately $15 million in rate reductions from tariffs already approved by
 the OPUC resulting  in  total 1997 rate reductions  of  $70  million.  The 
 stipulation  will  be presented to the Commission for approval on November 26,
 1996.

 For further  information regarding the Company's rate proposal see the PGE and
 Portland General quarterly report on Form 10-Q for the quarter ended September
 30, 1996.


                                Signatures


 Pursuant to the  requirements  of  the  Securities  Exchange  Act of 1934, the
 registrants have duly caused this report to be signed on their  behalf  by the
 undersigned hereunto duly authorized.


                                    Portland General Corporation
                                    Portland General Electric Company


 November 15, 1996                  By    /S/ JOSEPH E. FELTZ
                                            Joseph E. Feltz
                                          Assistant Controller
                                          Assistant Treasurer



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