Portland General Electric Sees 3% Load Growth Through 2029 Amid Industrial Demand Surge

Portland General Electric forecasts 3% annual load growth through 2029, driven by accelerating industrial demand. CEO Maria MacGregor Pope emphasized the company's progress in strategic priorities, including clean energy investments, customer affordability, and growth from data centers and electric vehicles.

Title: Portland General Electric Forecasts 3% Annual Load Growth Through 2029

Portland General Electric (PGE) reported significant progress in its strategic priorities during the second quarter of 2025, with CEO Maria MacGregor Pope emphasizing the company's focus on clean energy investments, customer affordability, and growth from data centers and electric vehicles. The company forecasts 3% annual load growth through 2029, driven by accelerating industrial demand [1].

PGE's Q2 2025 earnings call highlighted a 16.5% quarter-over-quarter industrial load growth, largely driven by significant demand from data center customers. The company also reported GAAP net income of $62 million, or $0.56 per diluted share, with a non-GAAP net income of $73 million, or $0.66 per share [2].

CEO Pope underscored the company's progress in its strategic priorities, including clean energy investments, customer affordability, and growth from data centers and electric vehicles. She noted that the company is undertaking a price refresh in its 2023 RFP and accelerating its 2025 RFP procurement to maximize federal tax credits and keep customer prices as low as possible [1].

The company's CFO, Joseph R. Trpik, reaffirmed the weather-adjusted 2025 load guidance of 2.5% to 3.5%, with long-term expectations of 3% annual growth through 2029. Trpik also detailed a $0.32 increase in total revenue, driven by a $0.12 increase from demand growth and a $0.20 increase from improved recovery [1].

PGE's Q2 2025 results reflect the company's commitment to sustainability and affordability. The company's strategic priorities, coupled with its focus on regulatory clarity and cost management, position it well for continued growth and stability in the coming years.

References
[1] https://seekingalpha.com/news/4472463-portland-general-electric-outlines-3-percent-annual-load-growth-through-2029-as-industrial
[2] https://www.prnewswire.com/news-releases/portland-general-electric-announces-second-quarter-2025-results-302513731.html