FERC Approves $900M Financing Push By Ore. Utility

Law360, New York (February 4, 2014, 2:52 PM EST) -- The Federal Energy Regulatory Commission on Monday approved an application from Portland General Electric Co. seeking a $900 million debt security offering that will fund the public utility's operations in the northwestern U.S.

In its order approving the issuance of the securities, the commission said that Portland General was not able to demonstrate that its net income will equal or exceed twice the total interest expense — which is normally a requirement in these types of applications. However, the commission said that the public utility was...
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