Portland General Electric Raises Large-Load Capacity Growth Forecast to 12% Through 2030

Portland General Electric (PGE) raised its forecast for annual capacity growth from large-load customers to about 12% through 2030 and lowered its 2026 adjusted EPS outlook, pairing expansion expectations with a reduced earnings forecast.

The company set its full-year adjusted EPS range at $3.18 to $3.28 per diluted share. It maintained long-term earnings and dividend growth guidance of 5% to 7%.

The capacity outlook includes a Verrus facility with capacity of up to 420 megawatts. Management cautioned that data-center usage can be choppy.

PGE President and CEO Maria Pope said, “The third quarter was impacted by the coolest summer in a decade.” The company attributed most of the difference between adjusted EPS and quarterly expectations to historically mild weather.

Management described the proposed holding-company structure’s one-notch ratings provision and dividend restrictions as unacceptable. PGE said it can pursue its growth and capital plans and maintain its current guidance without establishing the holding company. The commission’s decision has a Dec. 7 outside date.