Utilities share desire to promote system reliability, cost-efficient
transmission
PORTLAND, Ore.--(BUSINESS WIRE)--
Portland General Electric (NYSE:POR) has entered into a Memorandum of
Understanding with the Bonneville Power Administration that allows the
two utilities to coordinate planning of new electrical substations and
transmission facilities and to consider joint development.
PGE has proposed Cascade Crossing, a double-circuit transmission project
running from the City of Boardman to the Salem area, to help meet
Oregon's growing energy needs, enhance reliability of the electrical
grid, and allow for development of more renewable power projects to help
meet the state's Renewable Energy Standard. The project would connect
new and existing energy generating resources east of the Cascades to the
Willamette Valley.
BPA is building the McNary-John Day transmission project, which will be
completed in January, 2012. BPA is conducting environmental analysis on
three proposed 500-kV transmission lines. In addition, BPA is developing
several large electrical substations to integrate wind generation into
the Northwest grid.
The MOU allows PGE and BPA to share confidential information as they
work together on a range of issues, including system interconnections,
substation locations and utilization of existing transmission corridors.
"BPA is the Northwest's largest transmission provider, and PGE shares
their commitment to promoting system reliability, cost-effective
transmission and renewable resource integration," said Steve Hawke, PGE
senior vice president for customer service, transmission and
distribution. "We look forward to engaging in discussions with BPA to
help ensure that Cascade Crossing, if constructed, would integrate with
other existing and proposed transmission projects and meet the needs of
our customers and the region."
"This is a great example of regional transmission planning and
coordination," said Brian Silverstein, BPA Transmission Services senior
vice president. "Finding ways to work together to meet the region's
growing electricity needs will provide benefits to ratepayers throughout
the Northwest and minimize the need for new transmission facilities."
PGE previously executed MOUs for discussions surrounding Cascade
Crossing with PacifiCorp, Idaho Power and the Confederated Tribes of
Warm Springs. In order to build the project, PGE must obtain approvals
from both the state and federal governments. PGE is in the second year
of what is expected to be a three-year permitting process, which
includes a variety of opportunities for public input. For more
information, visit CascadeCrossingProject.com.
About Bonneville Power Administration
BPA is a not-for-profit federal electric utility that operates a
high-voltage transmission grid comprising more than 15,000 miles of
lines and associated substations in Washington, Oregon, Idaho and
Montana. It also markets more than a third of the electricity consumed
in the Pacific Northwest. The power is produced at 31 federal dams
operated by the U.S. Army Corps of Engineers and Bureau of Reclamation
and one nuclear plant in the Northwest and is sold to more than 140
Northwest utilities. BPA purchases power from seven wind projects and
has more than 3,300 megawatts of wind interconnected to its transmission
system.
About Portland General Electric Company
Portland General Electric, headquartered in Portland, Ore., is a fully
integrated electric utility that serves approximately 822,000
residential, commercial and industrial customers in Oregon. Visit our
website at PortlandGeneral.com.
PGE 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. Such forward-looking statements include statements
concerning the potential construction and benefits of the Cascade
Crossing project, as well as other statements identified by words
including, but not limited to, "will," "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 regulatory, operational and legal matters, as well as other
factors that could affect the successful completion and operation of the
project. As a result, actual results 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 of the date hereof. The Company assumes no obligation to update
any such forward-looking statements. 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 8-K and
10-Q filed with the United States Securities and Exchange Commission,
including Management's Discussion and Analysis of Financial Condition
and Results of Operation and the risks described therein from time to
time.
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PGE
Steve Corson, 503-464-8444
PortlandGeneral.com/Newsroom
or
BPA
Doug
Johnson, 503-230-5840
Source: Portland General Electric
News Provided by Acquire Media
