Portland General Electric sees judgment award $60M-$70M, company share 67.5%

theflyonthewall.com

Portland General Electric disclosed in a regulatory filing that on November 30, the United States Court of Federal Claims issued a judgment awarding certain damages to the plaintiffs, of which PGE was a member, in a complaint against the U.S. Department of Energy. The judgment does not state the precise amount of the damages award, but directs the parties to consult and propose by January 7, 2013 a final amount for the plaintiffs’ recovery that is based on certain adjustments specified in the court's ruling. PGE estimates that the total amount of the award, as calculated pursuant to the judgment, will range from approximately $60M to $70M. Any award amount would be allocated to the plaintiffs on a pro-rata basis in accordance with their respective ownership share of Trojan. Accordingly, PGE’s share of that amount would be 67.5%. PGE cannot determine whether or when any award amounts will be received or if the judgment will be appealed.

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