US EditionBerkshire-Owned PacifiCorp, Citing Liquidity, Sells Washington Assets ...
The $1.9 billion acquisition includes three generation facilities and 4,500 miles of lines, adding 140,000 Washington customers to Portland General Electric's service area.
- On Feb 17, 2026, Portland General Electric Company agreed to buy PacifiCorp's Washington generation and distribution assets for $1.9 billion, adding about 140,000 Washington customers.
- Facing widening regulatory divergence across its footprint, PacifiCorp said diverging policies among the six western U.S. states it serves created extraordinary pressure and mounting wildfire settlements strained its liquidity, including around $1.6 billion in settlements.
- Included in the transaction are the Chehalis natural gas plant, Goodnoe Hills wind facility, Marengo I and II wind facilities, 4,500 miles of transmission and distribution lines, and about 2,700 square miles of local operations.
- A newly formed subsidiary will manage the Washington operations under Washington Utilities and Transportation Commission regulation, Manulife Infrastructure Fund III L.P. and affiliates will own 49%, and PGE will retain current Washington employees with the transaction expected to close in about 12 months.
- The deal values the assets at a purchase price multiple of 1.4 times estimated 2026 rate base, with PGE citing five contracts for 430 MW and revenue growth amid rising industrial and data-center demand.
14 Articles
14 Articles
Portland General Electric spends nearly $2B to expand in Washington, acquiring 140,000 customers from PacifiCorp
Around 140,000 homes and businesses in Washington state could be paying their power bills to someone new in the coming year. Portland General Electric has agreed to spend about $1.9 billion to buy retail electricity customers in Washington from another big investor-owned utility in the Pacific Northwest, PacifiCorp. PGE will also acquire a major natural gas power plant plus three wind power plants from PacifiCorp, known as Pacific Power in Orego…
PGE will expand to Washington state, acquiring swath of PacifiCorp territory
Portland General Electric announced Tuesday that it will buy most of PacifiCorp’s utility assets in the state of Washington for $1.9 billion, including two wind farms, a natural gas-fired power plant, transmission and distribution lines, plus about 140,000 customers.
Portland General Electric announces acquisition of Washington state utility operations and select assets from PacifiCorp, 2025 financial results and initiates 2026 earnings guidance
PGE partners with Manulife Investment Management for acquisition of PacifiCorp's Washington utility operations for $1.9 billion Reached agreements to construct...
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
