Ore. Utility To Take $5M Hit Over Hydro Plant Incident

Law360, New York (January 8, 2010, 4:27 PM EST) -- Portland General Electric Co. said Friday that it expected a $5 million after-tax loss for late 2009 because of costs related to a structural failure during the construction of an $85 million fish protection system, now part of the Pelton Round Butte hydroelectric project on Oregon's Deschutes River.

The utility said in a filing with the U.S. Securities and Exchange Commission that, per the terms of a proposed settlement of its rate case with the Oregon Public Utility Commission, it would forgo recovery of $7.6 million...
To view the full article, register now.