Portland says Carty power project on schedule for Q2 2016 in-service date

Portland General Electric (NYSE: POR) said April 28 in an earnings statement that construction on the Carty Generating Station is on schedule for this 440-MW, natural gas-fired baseload power plant located near Boardman, Ore.

The plant is expected to be placed into service during the second quarter of 2016 at an estimated cost of $450 million, excluding allowance for funds used during construction. Carty’s gas turbine and generator have been installed and the steam turbine and steam turbine generator have been shipped. Welding on the heat recovery steam generator piping is ongoing, and the construction percentage complete is approximately 50%.

In February, PGE filed a general rate case with a 2016 test year which would result in an overall price increase of 3.7% effective in 2016, primarily to recover the costs associated with Carty. The request is based on a return on equity of 9.9%, a capital structure of 50% debt and 50% equity, and rate base of $4.5 billion. PGE expects the Oregon Public Utility Commission to issue a final order with approved price changes before the end of 2015.

Portland General Electric is a vertically integrated electric utility that serves approximately 844,000 residential, commercial and industrial customers in the Portland/Salem metropolitan area of Oregon.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.