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Portland General Electric rates to decrease on Dec. 1.

PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 26, 1996--Portland General Electric Co. (PGE) received approval today from the Oregon Public Utility Commission (PUC) for an overall seven percent general decrease in the company's electricity prices. This general price reduction will be the largest ever for PGE.

This means lower electricity prices for PGE's residential, commercial and industrial customers. The average residential electricity bill will drop by almost $4.50 a month, or about $54 a year. Commercial and industrial rate decreases will depend on the size and type of electricity consumption of the particular customer. These rate decreases will go into effect beginning on Dec. 1, so customers will begin to see the effects in their January bills.

The PUC approved a joint proposal to adopt the rate decrease presented by PGE, the PUC staff, the Citizen's Utility Board (CUB), and the Oregon Committee for Equitable Utility Rates (OCEUR).

"We are extremely pleased that the Commission approved this price decrease for our customers. It is not traditional for a utility to voluntarily lower its prices. It took a lot of cooperation and hard work among PGE, the staff, CUB and OCEUR to make this happen," says Ken Harrison, CEO and President of PGE. "The fact that these four groups found a common ground speaks very highly of both the rate reduction plan and of the commitment of all four interests to benefit Oregon consumers. Our proposal to merge with Enron, a competitive company that shares our commitment to deliver low prices and quality services, enables us to reach this agreement with confidence."

In a separate proceeding, Enron, a Houston, Texas energy corporation, is seeking PUC approval of an agreement to merge with PGC, the parent corporation of PGE. The PUC#s decision is expected by Feb. 18, 1997. The company also needs approval from the Federal Energy Regulatory Commission, which is expected after the PUC's decision.

CONTACT: Rochelle Lessner, Government Affairs, PGE

503/464-8931

OR

Pamela Lesh, Vice-President, PGE

503/464-8856
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Publication:Business Wire
Date:Nov 26, 1996
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