Income tax Income tax (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31,
	2023		2022
Federal statutory tax rate	21.0	%	21.0	%
Federal tax credits*	(9.3)		(10.5)
State and local taxes, net of federal tax benefit	9.0		8.9
Flow-through depreciation and cost basis differences	1.0		0.7
Amortization of excess deferred income tax	(3.7)		(4.5)
Other	(2.1)		(0.1)
Effective tax rate	15.9	%	15.5	%

* 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 PTC generation will end at various dates through 2033.