PORTLAND, Ore. (KOIN) – Rates are going up starting Jan. 1, 2023 for Portland General Electric customers.
Every year, the utility company updates its customer rates to reflect the company’s cost to produce and purchase electricity.
For 2023, PGE’s expected cost to purchase electricity and natural gas has increased significantly over the prior year’s forecasts. That means customers’ bills will increase significantly as well.
According to PGE, starting Jan. 1, a residential customer using 780 kilowatt hours per month can expect their monthly bills to increase from $114.54 to $122.60, about a 7% increase.
The impact will vary by household depending on its energy usage.
“We recognize that increasing rates at a time when Oregonians are already dealing with high inflation presents challenges for many customers,” said Megan Decker, Oregon Public Utility Commission chair. “Unfortunately, fuel cost increases and supply chain delays caused by global events, combined with increasing volatility in regional electricity markets, drive the price for utilities to produce and purchase electricity.”
She said there may be options available to help residential customers pay their increased bills.
PGE has a program that offers monthly bill discounts from 15-20% to support customers who are experiencing income restraints. Other customers in need can access bill support programs through local community action agencies, including the Oregon Energy Fund, Oregon Energy Assistance Program, COVID Energy Assistance Program and Low-Income Home Energy Assistance Program.
To help budget for energy expenses, PGE offers time of use and equal pay options.
PGE serves about 900,0000 customers in Oregon.