PGE plans $1B investment in gas and wind

PGE plans $1B investment in gas and wind

Portland General Electric unveiled plans to invest $1 billion in a new gas fired power plant and a new wind farm.

Demand for electricity is growing slowly in the Northwest, and the region's grand plan is meet most demand growth in the next two decades with energy efficiency and conservation measures.

The result for ratepayers is likely to be a string of rate increases for the foreseeable future. PGE, which serves more than 800,000 customers in the state, is seeking a 6 percent rate increase – 9 percent for residential customers. The utility has yet to outline how its resource additions will affect electricity rates, but chief executive Jim Piro acknowledged the company is likely to file for increases in 2014, 2015 and 2016 as the new resources come on line.