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FERC Issues Letter Order Approving Portland General Electric Company's Proposed Journal Entries for Accounting Purposes Only Under AC14-129
[September 30, 2014]

FERC Issues Letter Order Approving Portland General Electric Company's Proposed Journal Entries for Accounting Purposes Only Under AC14-129


(Targeted News Service Via Acquire Media NewsEdge) WASHINGTON, Sept. 29 -- The U.S. Department of Energy's Federal Energy Regulatory Commission issued the text of the following delegated order: In Reply Refer To: Office of Enforcement Docket No. AC14-129-000 September29, 2014 Portland General Electric Company Attention: Ms. Christy Dunn Manager, Operations and Asset Accounting 121 SW Salmon Street Portland, OR97204 Dear Ms. Dunn: This is in response to your letter dated June 26, 2014, as refiled on July 31, 2014. You filed the letter on behalf of Portland General Electric Company (PGE) and requested approval of proposed journal entries to clear Account 102, Electric Plant Purchased or Sold, relating to the acquisition of certain interests in PGE's Boardman Unit No. 1 along with related easements and contract rights, and certain portions of The Pacific Northwest Intertie transmission line, along with related easement and contract rights.The Commission authorized the transaction in Docket No. EC14-13-000.



Based on PGE's representation, its proposed journal entries are approved for accounting purposes only. This accounting approval is not intended to influence the outcome of any rate treatment that may be established for this transaction.

PGE represents that its proposed journal entries record the estimated cost and related accumulated depreciation of the acquired assets on its books, consistent with Electric Plant Instruction No. 5. PGErepresents that the original cost of the utility plant and the accumulated provision for depreciation associated with the plant acquired were not available from BA Leasing, a non-jurisdictional passive investor. PGE also represents that it utilized its records as operator of the plant since 1985 to estimate the original cost of the plant and related accumulated depreciation. PGE's proposed accounting reflects the assumption that the assets were fully depreciated at the time of acquisition.


The Commission delegated authority to act on this matter to the Director of the Office of Enforcement or his designee under 18 C.F.R. section 375.311 (2014). The Director has designated this authority to the Chief Accountant. This letter order constitutes final agency action. Your company may file a request for rehearing with the Commission within 30 days of the date of this order under 18 C.F.R. section 385.713 (2014).

Sincerely, Bryan K. Craig Director and Chief Accountant Division of Audits and Accounting Office of Enforcement TNS 18EstebanLiz-140930-30FurigayJane-4878992 30FurigayJane (c) 2014 Targeted News Service

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