[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 9.01	Financial Statements and Exhibits.

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General Rate Case—On Feb. 15, 2013, PGE filed a general rate case with the Public Utility Commission of Oregon for a $105 million, or approximately 6 percent, overall increase in customer prices, based on a 2014 test year. The goal of the general rate case is to request prices that allow for the recovery of costs necessary to provide safe, reliable and sustainable power to customers. Factors driving the request include improvements to existing power plants and wind forecasting, new Clackamas River fish-sorting facilities, a disaster-preparedness center, technology investments, employees benefit costs and new federal regulations. The request assumes a capital structure of 50 percent debt and 50 percent equity, a return on equity of 10 percent, and an average rate base of $3.1 billion. A final order from the OPUC is expected before the end of 2013, with new customer prices expected to be effective Jan. 1, 2014.

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Request for Proposals for Energy and Capacity Resources—On Jan. 31, 2013, PGE announced that its proposed Port Westward Unit 2 flexible generating resource was selected as the successful bid in the capacity request for proposals. Construction of the 220 megawatt plant will begin this year with an estimated total cost between $300 million and $310 million and an online date expected in 2015. The request for proposals also sought 300 - 500 megawatts of baseload energy resources, as well as seasonal capacity resources. The company is in the process of negotiating with the top bidder from the final short list of baseload energy projects with a final decision expected by mid-2013. The company will also conduct negotiations to secure power purchase agreements for the seasonal capacity resources.

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•	Request for Proposals for Renewable Resources—PGE is evaluating the bids received for the renewables RFP and expects to have a final short list in early March 2013, and a final resource selection expected by mid-2013.

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Cascade Crossing Transmission Project—On Jan. 11, 2013, PGE and Bonneville Power Administration signed a memorandum of understanding to pursue a modification to PGE’s proposed Cascade Crossing Transmission Project. PGE initially proposed a 215-mile transmission project from Boardman, Ore. to Salem, Ore. Under the MOU the line would be shortened to approximately 120 miles and run from Boardman to a new substation called Pine Grove near Maupin, Oregon. Terms of the MOU provides for PGE to invest in grid enhancements and/or exchange assets with BPA. PGE expects the cost of the full project scope, as modified, to be at least $800 million. Construction of the 120 miles of new transmission would take at least two years and could start as early as 2017. As the parties continue negotiation of the terms and conditions of the modified proposal, the estimated costs and timeline of the project will be clarified.

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A $34 million decrease related to the volume of retail energy sold and delivered, with total volume down approximately 1 percent from 2011. Residential volume was down 3 percent due to warmer temperatures during the 2012 heating season, which was partially offset by a 1 percent increase in commercial and industrial. Adjusting for the effects of weather, total retail deliveries were up approximately 0.6 percent;

•	A $15 million decrease in average retail price driven by lower expected power costs as established in the annual power cost update tariff, partially offset by an increase related to the shortened operating life of the Boardman plant; and

•	An $11 million, or 18 percent, decrease in wholesale revenues consisting of a 22 percent decline in average price of wholesale power, partially offset by a 5 percent increase in the volume sold; partially offset by

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•	A $32 million increase related to $18 million of tax credits refunded to customers in 2011, with no comparable amount in 2012, and a $10 million estimated refund to customers recorded in 2011 pursuant to the power cost adjustment mechanism compared with a reduction in such estimate of $4 million recorded in 2012; and

•	A $20 million increase resulting from the impact of various other regulatory items, of which the largest contributors were $5 million for the recovery of costs under the solar Feed-In Tariff and $3 million for the recovery of expenses related to the Trojan refund, and a $2 million increase in other operating revenues.

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•	Load growth of 0.5 percent to 1.0 percent over weather-adjusted 2012;

•	Normal hydro and expected wind conditions and plants achieving their targeted availability factors;

•	Operating and maintenance costs between $110 million to $115 million per quarter;

•	Depreciation expense of $244 million;

•	Capital expenditures of $514 million; and

•	Port Westward Unit 2 AFUDC (debt and equity) of $6 million.

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