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Portland General Electric Company P.U.C. Oregon No.

E-18

First Revision of Sheet No. 145-1 Canceling Original Sheet No. 145-1

SCHEDULE 145 BOARDMAN POWER PLANT OPERATING LIFE ADJUSTMENT PURPOSE This schedule establishes the mechanism to implement in rates the revenue requirement effect of a Commission-authorized change in the Boardman Power Plants currently assumed end of life year of 2040. This schedule is implemented as an automatic adjustment clause as defined in ORS 757.210. APPLICABLE To all bills for Electricity Service except Schedules 9, 76R, 485, 489 and 576R. ADJUSTMENT RATES Schedule 145 Adjustment Rates will be set based an equal percent of Energy Charge revenues applicable at the time of any filing that revises rates pursuant to this schedule. Schedule 7 15 32 38 47 49 75 Secondary Primary Subtransmission 83 85 Secondary Primary 0.079 per kWh 0.076 per kWh (I) 0.076 per kWh 0.074 per kWh 0.072 per kWh 0.083 per kWh Adjustment Rate 0.092 per kWh 0.072 per kWh 0.085 per kWh 0.080 per kWh 0.092 per kWh 0.092 per kWh

(I)

Advice No. 11-07 Issued May 27, 2011 Maria M. Pope, Senior Vice President

Effective for service on and after July 1, 2011

Portland General Electric Company P.U.C. Oregon No. E-18

Second Revision of Sheet No. 145-2 Canceling First Revision of Sheet No. 145-2

SCHEDULE 145 (Continued) ADJUSTMENT RATE (Continued) Schedule 89 Secondary Primary Subtransmission 91 92 93 94 515 532 538 549 575 Secondary Primary Subtransmission 583 585 Secondary Primary 589 Secondary Primary Subtransmission 591 592 594 0.076 per kWh 0.074 per kWh 0.072 per kWh 0.072 per kWh 0.073 per kWh 0.073 per kWh (I)(M) 0.079 per kWh 0.076 per kWh (M) 0.076 per kWh 0.074 per kWh 0.072 per kWh 0.083 per kWh 0.076 per kWh 0.074 per kWh 0.072 per kWh 0.072 per kWh 0.073 per kWh 0.071 per kWh 0.073 per kWh 0.072 per kWh 0.085 per kWh 0.080 per kWh 0.092 per kWh (I) Adjustment Rate

Advice No. 11-07 Issued May 27, 2011 Maria M. Pope, Senior Vice President

Effective for service on and after July 1, 2011

Portland General Electric Company P.U.C. Oregon No. E-18

First Revision of Sheet No. 145-3 Canceling Original Sheet No. 145-3 (D) (M)

SCHEDULE 145 (Concluded) DETERMINATION OF ADJUSTMENT AMOUNT Any revision to this schedules Adjustment Rates requires Commission authorization (by order, approval of a filing, acknowledgement of an Integrated Resource Plans Action Plan or approval of a depreciation study) to revise for rate setting and accounting purposes, the end of life assumption of year-end 2040 for the Boardman Power Plant. The revised Adjustment Rates will be set to recover an Adjustment Amount reflecting the change in depreciation revenue requirements. The Adjustment Amount is the difference between the Boardman Power Plant depreciation/amortization revenue requirement for the year 2011 as determined in UE 215 that reflects a plant end of life date of year-end 2040, and the same depreciation/amortization revenue requirement determination using a plant end of life assumption of year-end 2020. The depreciation/amortization revenue requirement change computation will use the Commissionauthorized tax rates, revenue sensitive cost rates, rate of return and return on equity rates. Only changes to depreciation expense (including decommissioning), amortization expense and related Schedule M and rate base adjustments as of the date of the filing revisions to this rate schedule are included in the depreciation/amortization revenue requirements. The Adjustment Rates will be updated annually to reflect the subsequent years change in the Boardman Power Plant depreciation revenue requirement, if the Company has not incorporated the revised depreciable life into base rates in a general rate case or other proceeding. The reference docket numbers and dates in this schedule will be revised as necessary to a subsequent docket if no change to the Boardman depreciable life occurs prior to a subsequent general rate case order. BALANCING ACCOUNT The Company will maintain a balancing account to track the difference between the Schedule 145 Revenue Requirements and the actual Schedule 145 revenues. This difference will accrue interest at the Commission-authorized rate for deferred accounts. TIME AND MANNER OF FILING Commencing in 2011, the Company will submit to the Commission the following information by November 1 of each year: 1. The proposed price changes to this Schedule to be effective on January 1st of the following year based on the updated revenue requirements described above. Work papers supporting the Schedule 145 prices, the updated revenue requirements, the projected applicable billing determinants, and the projected balancing account activity.

(C)

(C)

(D) (N)

2.

(N)

Advice No. 11-07 Issued June 8, 2011 Maria M. Pope, Senior Vice President

Effective for service on and after July 1, 2011