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PGE reports record clean energy resources in newly released 2024 Environmental, Social and Governance Report, "Advancing Toward a Clean Energy Future"

1. PGE achieved 45% energy from non-carbon resources in 2024. 2. Record fish returns and increased employee volunteerism noted for PGE. 3. 24% of residential customers participated in energy-saving programs, reducing demand. 4. PGE maintains a top ranking in renewable energy participation since 2009. 5. Company committed to net-zero emissions by 2040 with 80% reduction by 2030.

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FAQ

Why Bullish?

PGE's strong commitment to clean energy and demonstrated customer involvement reflect positively on financial outlook. Previous announcements on sustainability often led to stock price uptick.

How important is it?

PGE's focus on sustainable practices is crucial in an environmentally-conscious market, influencing potential investments.

Why Long Term?

PGE's long-term sustainability initiatives position it well for future regulatory frameworks favoring clean energy. Established goals for emissions will likely appeal to investors over time.

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In 2024, PGE saw increases in clean energy resources, large customer participation in voluntary clean energy programs, record fish returns at hydro facilities and increases in employee volunteerism., /PRNewswire/ -- Portland General Electric (PGE) today reported a record 45% of the energy it generated and procured came from non-carbon-emitting resources in 2024. This represents a 7% compounded growth rate in PGE's non-emitting resource mix since 2020, building on the company's commitment to reach net-zero by 2040.The data was reported in the company's 2024 Environmental, Social and Governance Report, "Advancing Toward a Clean Energy Future," which details the company's progress in creating resilient energy, thriving communities, and ethical governance. PGE volunteers and a newly-planted tree at a Friends of Trees event Kokanee swimming upstream in the Deschutes River PGE's 2024 resource mix at a glance The increase in clean energy is partly due to new renewable resources including the Clearwater Wind Energy Center and battery storage systems which brought increased availability and reliability to PGE's energy mix. These systems, along with the rest of PGE's technology and infrastructure, work together to provide reliable, clean energy even when the wind doesn't blow and the sun doesn't shine. "While we work to meet the challenges of Oregon's ambitious clean energy targets, we also remain firmly committed to providing safe, reliable power as affordably as possible," said Kristen Sheeran, PGE's Vice President of Policy and Resource Planning.The role of PGE customers in support of a modern, reliable grid also increased in 2024. Twenty-four percent of PGE's residential households participated in voluntary programs to shift energy use and lend flexibility to the grid during times of peak demand. The result, during a two-day heatwave in July, was a more than 100-megawatt reduction in demand, which PGE equated to the energy used by 90,000 homes over a four-hour period.2024 was also the 15th year in a row in which PGE has achieved a Number One ranking from the U.S. Department of Energy's National Renewable Energy Laboratory for the largest customer participation in a renewable energy program among U.S. electric utilities.Additionally, strong environmental stewardship at PGE's hydro facilities led to record-setting fish returns on the Clackamas and Deschutes Rivers. This includes the highest steelhead return to Round Butte Dam since dams were completed in the 1960s.Employee and corporate giving also increased. The total company charitable giving from corporate contributions, PGE Foundation, current and retired employees and company match was $5.5 million in 2024. PGE awarded 55 scholarships, focused on higher education for underrepresented students, women and students with demonstrated financial need. Employees and retirees donated nearly 23,000 total volunteer hours, and 66% of PGE employees participated in charitable giving and/or volunteerism.To read the full 2024 Environmental, Social and Governance Report, "Advancing Toward a Clean Energy Future," visit portlandgeneral.com/sustainability.About Portland General Electric CompanyPortland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to over 950,000 customers serving an area of 1.9 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering social progress, delivering safe, affordable, reliable and increasingly clean electricity while working to transform energy systems to meet evolving customer needs. PGE customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE was ranked the No. 1 utility in the 2024 Forrester U.S. Customer Experience Index and is committed to reducing emissions from its retail power supply by 80% by 2030 and 100% by 2040. In 2024, PGE employees, retirees and the PGE Foundation donated $5.5 million and volunteered nearly 23,000 hours to more than 480 nonprofit organizations. For more information visit www.PortlandGeneral.com/newsContact Info:PGE Communications, [email protected]; 503-464-2067Source: Portland General CompanySOURCE Portland General Electric WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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