Income tax Income tax (Tables)

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The significant differences between the U.S. Federal statutory tax rate and PGE’s effective tax rate are reflected in the following table:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Federal statutory tax rate	21.0	%	21.0	%	21.0	%	21.0	%
Federal tax credits*	(11.2)		14.8		(10.1)		(23.6)
State and local taxes, net of federal tax benefit	8.9		4.2		8.7		10.4
Flow-through depreciation and cost basis differences	(1.5)		17.5		(1.0)		(7.2)
Amortization of excess deferred income tax	(4.6)		(0.4)		(3.7)		(2.8)
Local tax flow-through adjustment	—		—		(4.2)		—
Other	(3.5)		4.3		(1.5)		(1.8)
Effective tax rate	9.1	%	61.4	%	9.2	%	(4.0)	%

* Federal tax credits primarily consist of production tax credits (PTCs) earned from Company-owned wind-powered generating facilities. PTCs are earned based on a per-kilowatt hour rate and, as a result, the annual amount of PTCs earned will vary based on weather conditions and availability of the facilities. PTCs are earned for 10 years from the in-service dates of the corresponding facilities. PGE’s wind-powered generating facilities are eligible to earn PTCs until various dates through 2030.