Income tax Income tax (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

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

The significant differences between the 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,
	2022		2021		2022		2021
Federal statutory tax rate	21.0	%	21.0	%	21.0	%	21.0	%
Federal tax credits*	(9.2)		(11.2)		(9.7)		(10.1)
State and local taxes, net of federal tax benefit	8.0		8.9		8.7		8.7
Flow-through depreciation and cost basis differences	1.6		(1.5)		0.9		(1.0)
Amortization of excess deferred income tax	(4.2)		(4.6)		(4.3)		(3.7)
Local tax flow-through adjustment	—		—		—		(4.2)
Other	(0.1)		(3.5)		(0.1)		(1.5)
Effective tax rate	17.1	%	9.1	%	16.5	%	9.2	%

* 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.