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) November 12, 1996
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
SHAREHOLDERS APPROVE MERGER - At a special shareholder meeting on November 12,
1996 in Portland, Oregon the shareholders of Portland General Corporation's
(Portland General) common stock voted to approve the transactions contemplated
by the merger agreement between Portland General, Enron Corp. and Enron
Oregon Corp. For further information regarding the proposed merger see
Portland General's report on Form 10-Q for the quarter ended September 30,
1996.
SETTLEMENT REACHED ON RATE PROPOSAL - On November 15, 1996 Portland General
Electric Company (PGE or the Company), the staff (Staff) of the Oregon Public
Utility Commission (OPUC or the Commission) and the Citizen's Utility Board
entered into a stipulation for a joint recommendation to the Commission on
PGE's August 6, 1996 rate proposal. The stipulation recommends approximately
$55 million in annual incremental rate reductions beginning December 1, 1996
to be shared by all customer classes. PGE's original proposal included
accelerated amortization of PGE's Trojan Nuclear Plant (Trojan) investment
which the stipulation replaces with additional rate reductions. If
approved, the rate reductions would result in an after tax earnings decrease of
approximately $32 million for 1997. In addition the stipulation incorporates
approximately $15 million in rate reductions from tariffs already approved by
the OPUC resulting in total 1997 rate reductions of $70 million. The
stipulation will be presented to the Commission for approval on November 26,
1996.
For further information regarding the Company's rate proposal see the PGE and
Portland General quarterly report on Form 10-Q for the quarter ended September
30, 1996.
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
November 15, 1996 By /S/ JOSEPH E. FELTZ
Joseph E. Feltz
Assistant Controller
Assistant Treasurer
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