UNITED STATES
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) JUNE 24, 1998
Registrant; State of Incorporation; IRS Employer
COMMISSION FILE NUMBER ADDRESS; AND TELEPHONE NUMBER IDENTIFICATION NO.
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 - LEGAL MATTERS
CITIZENS' UTILITY BOARD OF OREGON V. PUBLIC UTILITY COMMISSION OF OREGON and
UTILITY REFORM PROJECT, COLLEEN O'NEILL AND LLOYD MARBET V. OREGON PUBLIC
UTILITY COMMISSION, the Court of Appeals of the State of Oregon.
On June 24, 1998, the Court of Appeals of the State of Oregon ruled that the
Oregon Public Utility Commission (OPUC) does not have the authority to allow
Portland General Electric (PGE) to recover a rate of return on its
undepreciated investment in the Trojan generating facility. The court upheld
the OPUC's authorization of PGE's recovery of its investment in Trojan.
In April 1996, a circuit court judge in Marion County, Oregon ruled against the
OPUC, contradicting a November 1994 ruling from the same court upholding the
OPUC's authority. These decisions were appealed to the Court of Appeals.
The Company plans to file a petition for review with the Oregon Supreme Court.
The Company does not know if the OPUC will also appeal. The Company cannot
predict the outcome of the appeal. Additionally, due to uncertainties in the
regulatory process, management cannot predict, with certainty, what ultimate
rate making action the OPUC will take regarding PGE's recovery of a rate of
return on its Trojan investment.
Management believes that the ultimate outcome will not have a material adverse
impact on the financial condition of the Company. However, it may have a
material impact on the results of operations for a future reporting period.
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 Electric Company
June 26, 1998 By /S/ JOSEPH E. FELTZ
Joseph E. Feltz
Controller
Chief Accounting Officer
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