PGE Plans To Nearly Triple Clean Resources By 2030
"We are taking action to reduce greenhouse gas emissions while maintaining an affordable, reliable energy future for everyone," said
Going Further, Faster
To create the clean energy future Oregonians want, PGE estimates by 2030 it will nearly triple the amount of clean and renewable energy serving customers. To achieve the 2030 goal, PGE, in addition to removing coal from its portfolio, will need approximately 1,500 – 2,000 MW of clean and renewable resources and approximately 800 MW of non-emitting dispatchable capacity resources. PGE is working to accelerate its exit from the coal-fired Colstrip plant by the end of 2025.
Starting today, together with its customers, PGE is seeking approximately 1,000 MW2 of resources by initiating its RFP public process. For customers, PGE expects to bring on approximately 375 - 500 MW of renewable resources, the equivalent of powering an average of 135,000 homes. If beneficial to customers and in balance with affordability, PGE will work with the OPUC to evaluate the opportunity to procure additional clean and renewable resources through this RFP, with a potential target of getting up to 1/3 of the clean resources needed to meet the 2030 emissions reduction target. PGE will also be seeking approximately 375 MW of non-emitting dispatchable capacity resources that can be used on the hottest or the coldest days of the year, which will help ensure continued reliable service is available for all.
Meeting the 2030 emissions reduction target will take continued thoughtful planning and engagement. In order to more fully bring to life the vision of
Partnering with customers
PGE is committed to an economy-wide clean energy future in which electricity powers more of our lives. Building this reliable, affordable and equitable future our customers expect will take all of us working together – customers, regulators, stakeholders, technology providers and utilities.
By 2030, PGE estimates as much as 25% of the power needed on the hottest and coldest of days could come from customers and distributed energy resources (DERs), such as solar panels, batteries, and electric vehicles. Part One of PGE's inaugural DSP, filed today, lays out plans to build the grid of the future with its customers, one that supports a two-way energy ecosystem and empowers customers to make energy management choices to support decarbonization.
PGE is already partnering with customers to shift energy use away from peak times of demand to help keep energy clean, affordable and reliable. During the
Building an equitable clean energy future will require intentional placement of resources like batteries, EV chargers and solar panels throughout
By 2030, PGE anticipates the potential for four times as much distributed solar and storage than today, bringing 500 MW of clean electricity to the grid. There are currently approximately 35,000 electric vehicles in
PGE made three filings at the OPUC laying out these plans. First, initiating its request for proposals (RFP) to procure more renewable and non-emitting resources; second, filing part one of its Distribution System Plan (DSP), which lays out the partnership needed with customers to build the equitable grid of the future and the amount of distributed energy resources anticipated by 2030—and beyond; and third, filing an extension waiver for the next Integrated Resource Plan (IRP), in order to more fully bring to life the vision of
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 made in this press release include statements regarding the anticipated benefits of the request for proposal described herein, the projected impact of the proposals on the Company's performance , the impact of the Wheatridge project on power supply costs, emissions reductions and grid reliability, or other opportunities, and any other statements regarding the Company's expectations, beliefs, plans, objectives or prospects or future performance as a result of or in connection with the proposals and processes described herein. Portland General Electric's energy strategy for future periods, the implementation and outcome that strategy, and the acquisition of additional resources to meet retail customer demand as well as other statements containing words such as "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 failure to complete capital projects on schedule or within budget, or the abandonment of capital projects; changes in capital market conditions, which could affect the availability and cost of capital and result in delay or cancellation of capital projects; the outcome of various legal and regulatory proceedings; general economic and financial market conditions; and the cost and availability of services, products and technology. 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 expressly disclaims any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise. Prospective investors should also review the risks, assumptions and uncertainties listed in the company's most recent annual report on form 10-K and in other documents that we file with the
1 Below baseline period, defined in Oregon HB 2021 as the average annual GHG emissions for 2010, 2011 and 2012 associated with the electricity sold to retail electricity consumers as reported to the
2 Approximately 1,000 MW = 375 - 500 MW of renewables, 375 MW of non-emitting capacity, 100 MW for Green Tariff Phase 2 PSO option
503-464-7016 or Elizabeth.Lattanner@pgn.com