Oregon PUC Staff Wants M&A Conditions
The Oregon Public Utilities Commission staff has recommended the proposed merger of Portland General Electric Co. and Enron Corp. be approved with conditions, and has asked for a customer-rate reduction of $47.4 million for four years.
Subsequently, an $11.2-million rate-reduction component would remain part of electric rates until PGE's next rate proceeding. The staff would include a feature to true up rate-reduction amounts if certain future revenues exceed expectations.