UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 3)*

 

 

Portland General Electric Company

(Name of Issuer)

 

 

Common Stock, no par

(Title of Class of Securities)

 

 

736508847

(CUSIP Number)

 

John J. Ray, III
BDHLR, LLC
c/o Enron Corp.
1221 Lamar Street, Suite 1600, Houston, Texas 77010
Phone Number: (713) 853-6161

 

 

Copy To:
John T. McCarthy, Esq.
D. Mark McMillan, Esq.
Bell, Boyd & Lloyd LLC

70 W Madison St., Suite 3100, Chicago, Illinois 60602

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

October 3, 2006

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 736508847
	1.	Names of Reporting Persons.				Enron Disputed Claims Reserve
		I.R.S. Identification Nos. of above persons (entities only).					N/A
	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)			o
		(b)			ý
	3.	SEC Use Only
	4.	Source of Funds (See Instructions) OO
	5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o
	6.	Citizenship or Place of Organization Texas
Number of Shares Beneficially Owned by Each Reporting Person With			7.	Sole Voting Power 32,850,651
			8.	Shared Voting Power 0
			9.	Sole Dispositive Power 32,850,651
			10.	Shared Dispositive Power 0
	11.	Aggregate Amount Beneficially Owned by Each Reporting Person 32,850,651
	12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o
	13.	Percent of Class Represented by Amount in Row (11) 52.6%
	14.	Type of Reporting Person (See Instructions) OO

 

2

---

This statement constitutes Amendment No. 3 to the statement on Schedule 13D as previously filed (the “Original Schedule 13D”) by the Enron Disputed Claims Reserve on April 5, 2006, as amended by Amendment No. 1 as previously filed on May 3, 2006 and amended by Amendment No. 2 as previously filed on June 2, 2006.  Unless specifically defined herein, capitalized terms shall have the same meaning as set forth in the Original Schedule 13D.

 

Item 5.	Interest in Securities of Issuer
	Sub-items (a) and (b) of Item 5 are amended and restated in their entirety as follows:
	(a) and (b)  For the purpose of Rule 13d-3 promulgated under the Exchange Act, the Reporting Person owns directly 32,850,651 shares of Common Stock, representing 52.6% of the issued and outstanding Common Stock and is deemed to have sole voting and dispositive power with respect to such shares of Common Stock subject to the direction of the DCR Overseers as described above.
	Sub-item (c) of Item 5 is hereby amended to add the following information:
	Since August 1, 2006, 1,849,228 shares of Common Stock have been distributed from the DCR to holders of allowed claims pursuant to the Plan, including 210,221 shares that were distributed on August 1, 2006, and 1,639,007 shares that were distributed on October 3, 2006.  In addition, on June 30, 2006 and July 20, 2006, 48,642 shares and 8,923 shares, respectively (totaling 57,565 shares), were deposited into the DCR in connection with the periodic return of shares previously distributed to holders of allowed claims.

 

3

---

Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: October 3, 2006

	Enron Disputed Claims Reserve
	By: BDHLR, LLC, as Disbursing Agent
	/s/ John J. Ray, III
	John J. Ray, III, President

 

4