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News Release
PGE Customers to Receive Multi-Million Dollar Refund of Trojan Nuclear Plant Costs
September 30, 2008 (2008-026) (DR-10, UE-88, UM-989)
Contacts: Lee Beyer, Chairman, 503 378-6611; Ray Baum, Commissioner, 503 378-6611; John Savage, Commissioner, 503 378-6611; Bob Valdez, Public Affairs Specialist, 503 378-8962
Salem, Ore. Today the Oregon Public Utility Commission issued a comprehensive decision that will refund $33.1 million to customers of Portland General Electric (PGE).
The Commission ordered a refund after the courts directed it to reconsider an earlier decision to include in customer rates part of PGE’s remaining investment in the Trojan nuclear plant.  
“This matter has taken many twists and turns over the years. I hope this decision resolves the ongoing controversy.  I can assure customers and others that we have put a lot of time and effort into a comprehensive and fair solution that will put money back in customers’ pockets and is fair to the company,” said Commission Chairman Beyer.
The Commission order resolves all issues related to the controversial 1995 decision dealing with the closure of PGE’s Trojan nuclear plant.  Because the Commission found the retirement to be in the public interest, it decided to allow PGE to continue collecting about 87 percent of its remaining investment in Trojan in the same manner that it had since Trojan began service in 1976. 
The Court of Appeals reviewed the Commission order and upheld the PUC’s decision to allow PGE to recover 87 percent of its Trojan investment in rates, but found that PGE could not earn a profit on that investment.
Before the Commission could respond to the Court’s decision, PGE, the Commission Staff, and the Citizens’ Utility Board (CUB) reached a settlement in 2000 to entirely remove the Trojan investment from rates. That settlement was challenged by the Utility Reform Project (URP), which resulted in a second decision by the Court of Appeals.  The Commission’s order responds to both court decisions. 
In this comprehensive order, the Commission reconsidered its decisions as directed by the courts and thoroughly reviewed the rates charged to customers from 1995 to 2000, as well as those adopted in 2000.  
Order No. 08-487 requires PGE to take numerous steps to notify affected customers. Customers will have six months from the date of the decision to file a claim with PGE.