Portland General Electric Expands Into Washington With $1.9 Billion Utility Deal

Portland General Electric is acquiring key Washington electricity assets from PacifiCorp and expects the transaction to be earnings accretive in the first full year after closing.

• Portland will take ownership of the 477-megawatt Chehalis gas-fired facility, the 94-megawatt Goodnoe Hills wind farm, and the combined 234-megawatt Marengo wind projects.
• The company reported a fourth-quarter (Q4) adjusted earnings per share (EPS) of $0.47.
• Portland expects 2026 adjusted EPS in the range of $3.33 to $3.53 per share and reaffirmed its annual growth target in the range of 5% to 7%. 

Portland General Electric Co (POR) announced on Tuesday that it has agreed to purchase key electricity assets in Washington from PacifiCorp in a deal valued at $1.9 billion, expanding its footprint beyond Oregon. 

The transaction covers power plants, grid infrastructure, and local utility operations serving roughly 140,000 customers.

What Does The $1.9 Billion Deal Include?

Under the agreement, Portland will take ownership of the 477-megawatt Chehalis gas-fired facility, the 94-megawatt Goodnoe Hills wind farm, and the combined 234-megawatt Marengo wind projects. The package also includes about 4,500 miles of transmission and distribution lines spanning 2,700 square miles in Washington.

The acquisition price is about 1.4 times the projected 2026 rate base for the assets, the company said. Portland General Electric expects the purchase to add to earnings in the first full year after closing. The company expects federal and state regulatory reviews to conclude within 12 months. 

Financial Snapshot: Earnings Miss, Growth Outlook Intact

The company reported a fourth-quarter (Q4) adjusted earnings per share (EPS) of $0.47, up from $0.36 last year but missing the analysts’ consensus estimate of $0.71.

Revenue climbed on stronger demand from data centers and technology clients, while fuel and purchased power costs edged lower.

The company has signed five data center contracts totaling 430 megawatts across 2025 and early 2026. Portland expects 2026 adjusted EPS in the range of $3.33 to $3.53 per share and reaffirmed its annual growth target in the range of 5% to 7%. 

What Is The Retail Mood On Stocktwits?

On Stocktwits, retail sentiment around Portland General Electric remained in ‘neutral’ territory amid ‘normal’ message volume levels. 

POR stock has gained over 26% in the last 12 months. 

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