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) August 16, 1995
Registrant; State of Incorporation; IRS Employer
Commission File Number Address; and Telephone Number Identification No.
1-5532 PORTLAND GENERAL CORPORATION 93-0909442
(an Oregon Corporation)
121 SW Salmon Street
Portland, Oregon 97204
(503) 464-8820
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
Trojan Decommissioning - On August 30, 1995 the Nuclear Regulatory
Commission (NRC) notified Portland General Electric Company (PGE or the
Company) that it intends to seek public comment on whether it should halt
any further decommissioning activity currently underway at the Trojan
Nuclear Plant (Trojan) pending public hearings on the Trojan
Decommissioning Plan.
As a basis for its possible change in policy regarding Trojan, the NRC
cited a July 1995 ruling in Citizens Awareness Network, Inc. v. NRC in
which the United States Court of Appeals for the First Circuit held that
the NRC erred in its interpretation of its own regulations in allowing
licensees to initiate major dismantling activities prior to NRC approval
of a decommissioning plan. In November 1994 PGE commenced the early
removal of some of Trojan's large components (the Large Component Removal
Project or LCRP). Although the court case was not based on the facts of
the Trojan LCRP, the NRC will solicit comments on whether to halt any
further decommissioning activity at Trojan until public hearings can be
held regarding the Trojan Decommissioning Plan which PGE submitted to the
NRC in January 1995. PGE and other interested parties will have up to 17
days after publication of the notice to comment.
PGE cannot predict whether the NRC will delay the LCRP, which is currently
scheduled for completion by year-end 1995. If the LCRP were to be delayed
until NRC approval of the Trojan decommissioning plan were obtained, it
could result in an increase of approximately $2 million to the cost of the
project. The Company estimates the cost to decommission Trojan to be $351
million in nominal dollars (actual dollars to be spent in each year).
Legal Proceedings - Southern California Edison Company v. PGE, Multnomah
County Oregon Circuit Court On August 16, 1995 the Court issued a
summary judgement favoring PGE in a contract dispute with Southern
California Edison (SCE). SCE asserted that PGE defaulted on a long-term
power sales contract when it shut down Trojan. The court found that the
closing of Trojan was not a basis for terminating the contract. See
Portland General's and PGE's reports on form 10-K for the period ended
December 31, 1994 for background information.
Regulatory Matters - On August 29, 1995 the Public Utility Commission of
Oregon (PUC) authorized PGE to exclude large commercial and industrial
customers from the decoupling mechanism adopted by the PUC in its March
1995 rate order. The exclusion is effective as of September 1, 1995. See
Portland General's and PGE's reports on form 10-Q for the period ended
June 30, 1995 for further information.
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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 Corporation
Portland General Electric Company
September 5, 1995 By /s/ Joseph E. Feltz
Joseph E. Feltz
Assistant Controller
Assistant Treasurer
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