Income tax Income tax (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Federal statutory tax rate	21.0	%	21.0	%	21.0	%	21.0	%
Federal tax credits*	(14.2)		(9.2)		(11.1)		(9.7)
State and local taxes, net of federal tax benefit	5.8		8.0		7.9		8.7
Flow-through depreciation and cost basis differences	(0.7)		1.6		0.1		0.9
Amortization of excess deferred income tax	(4.4)		(4.2)		(3.9)		(4.3)
Other	3.8		(0.1)		1.8		(0.1)
Effective tax rate	11.3	%	17.1	%	15.8	%	16.5	%

* 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.