Portland General Electric (POR) 8-K Regulation FD Disclosure

Investor

Roadshow

Copyright ©

2007 Portland General Electric. All Rights Reserved.

August 2007

Exhibit 99.1

Information Current as of August 3, 2007

The

information

in

this

presentation

is

current

as

of

August

3,

2007

-

the

date

on

which

PGE

filed

its

Quarterly

Report

on

Form

10-Q

for

the

quarter

ended

June

30,

2007

-

and

should

not

be

relied

upon

as

being

current

as

of

any

subsequent

date. 

PGE

undertakes

no

duty

to

update

the

presentation,

except

as

may

be

required

by

law.

Forward-looking Statements

This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of

1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements are statements of expectations,

beliefs, plans, objectives, assumptions or future events or performance.  Words or phrases such as "anticipates,"

"believes,"

"should,"

"estimates,"

"expects,"

"intends,"

"plans,"

"predicts,"

"projects,"

"will

likely

result,"

"will

continue,"

or

similar expressions identify forward-looking statements.  The forward-looking statements in this presentation include, but

are not limited to, events related to 2007 earnings guidance, statements concerning estimated capital expenditures in 2007,

final review of the deferral of excess power costs for the Boardman Plant outage; final approval of rates for the new Port

Westward power plant; completion and rate treatment of Phase I of the Biglow Canyon Wind Farm and the Advanced

Metering Infrastructure (AMI) project; the expected completion dates of Phases II and III of the Biglow Canyon Wind Farm;

statements concerning the estimated cost savings resulting from deployment of AMI; statements concerning the recovery

of

costs

through

future

rate

increases;

changes

in

weather,

hydroelectric,

and

energy

market

conditions,

which

could

affect

the availability and cost of fuel or purchased power; and the outcome of various legal and regulatory proceedings.

Although PGE believes that the expectations reflected in any forward-looking statements are based on reasonable

assumptions, PGE can give no assurance that its expectations will be attained.  Factors that could cause actual results to

differ

materially

from

those

contemplated

include,

among

others,

events

related

to

governmental

policies;

the

outcome

of

legal and regulatory proceedings; changes in weather, hydroelectric, and energy market conditions; wholesale energy

prices; operational factors affecting PGE's power generation facilities; growth and demographic patterns in PGE's service

territory; general political, economic, and financial market conditions; other factors that might be described from time to

time in PGE's filings with the Securities and Exchange Commission.

Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law,

PGE undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on

which such statement is made or to reflect the occurrence of unanticipated events.

Cautionary Statement

2

Presenting Team

Jim Piro, Executive Vice President, Finance, Chief Financial Officer

and Treasurer

Bill Valach, Director of Investor Relations

Chris Liddle, Analyst, Investor Relations

3

Investment Highlights

•

Portland General Electric is a well-capitalized, vertically integrated,

regulated electric utility

•

Earnings and dividend growth driven by load growth and investment

in regulated assets

–

Annual capital expenditures are expected to significantly exceed

depreciation

•

Diversified power supply portfolio includes hydro, coal, wind and

natural gas-fired resources

•

Proactive, open working relationship with regulators

•

Experienced management team with a strong track record

•

Strong balance sheet and stable cash flow

4

Company Overview

•

793,000 retail customer accounts

•

Service territory population 1.6 million,

43% of state’s population

•

52 cities served –

Portland and Salem the largest

•

Net

Utility

Plant

–

$2.31

billion

(1)

–

Generation $536 million

–

Distribution $987 million

–

Transmission $145 million

–

CWIP $412 million

–

Other $227 million

•

4,000-square-mile service area

•

26,000 miles of T&D lines

•

2,374

MW

of

generation

(2)

•

Summer peak load of 3,706 MW (2006)

•

Winter peak load of 4,073 MW (1998)

•

Annual demand of 2,348 MWa (weather adjusted)

•

2,635 employees

OR

WA

(1) Source: 2006 FERC Form 1.

(2) Includes Port Westward.

Note: All numbers updated for year-ending December 31, 2006.

OREGON

WASHINGTON

Beaver

Port Westward

Oak Grove

Portland

Bull Run

Columbia River

Pelton

Round Butte

(Madras)

Colstrip 3

Colstrip 4

(Montana)

Salem

North Fork

Biglow Canyon

5

Boardman

Coyote Springs

Faraday

River Mill

T.W. Sullivan

Statement of Direction:  2007-2009

Focus Goals:

Reliable, reasonably priced power

–

Design and maintain a reliable energy

resource portfolio, maintaining high plant availability and achieving stable,

predictable and reasonable prices.

High customer value

–

Achieve high customer value by doing a great job of

understanding and meeting our customers' needs.

Strong financial performance

–

Achieve a return on equity that is at or above

our peers.

Engaged, valued workforce

–

Attract, retain and engage employees to

achieve a performance advantage for PGE and provide a fulfilling

work

experience.

Active corporate responsibility

–

Act in a manner true to our values and

uphold our core principles as we work with stakeholders to effectively balance

and prioritize operational and policy decisions.

6

(1) 2006 10-K.

Attractive and Growing Customer Base

Revenue by Customer Group

15%

39%

46%

Residential

Industrial

Commercial

Customers

(1)

Revenues

($ mm)

(1)

Energy

(000s of

MWh)

(1)

Residential

696,779

$628

7,573

Commercial

95,734

541

7,749

Industrial

259

200

4,110

Total

792,772

$1,369

19,432

Retail Revenue and Load Growth

1.7% annualized customer growth from

1996-2006, with 1.7% customer growth in 2006

7

Growing Oregon Economy

•

Growth in Oregon’s economy is expected to require further investment by PGE to meet

increased energy demand

–

Growth in Portland and Salem exceeds rest of state –

core operational areas for PGE

•

Taking advantage of steady state population growth, PGE has achieved annual customer

growth of 1.6% since the end of 2002

Population

Growth

–

US

vs.

Oregon

Customers

1.0%

1.3%

1.0%

1.7%

'02-'06 US

'02-'06 OR

'05-'06 US

'05-'06 OR

792,772

779,837

767,066

754,028

743,473

2002

2003

2004

2005

2006

Residential

Commerical

Industrial

Source: Oregon office of Economic Analysis, PGE customer database, US Census Bureau.

8

Investment Opportunities

Regulated Growth

•

Net short utility

•

Growing customer base

•

Capital investments outpace

depreciation

•

Potential capital investment of

$550

-

$650

million

2

for

Biglow

Canyon Phases II & III across 2007

-

2010

(1) Excludes AFDC and Advanced Metering Infrastructure. Forecasted expenditures are preliminary and subject to change.

(2) Excludes AFDC.

9

$650 - $670

$310 - $330

$525 - $535

$0

$100

$200

$300

$400

$500

$600

$700

2007

2008

2009

($ mm)

Capital

Expenditures

Range

1

Depreciation & Amortization

$180 -

$200

Power Supply Strategy

•

Manage power supply operations to:

–

Capitalize on PGE’s assets and position in the marketplace

–

Meet load in most economic fashion to lower costs to customers

–

Capture the benefits of PGE’s assets and their positioning in real-time

markets

–

Manage and monitor risks with appropriate systems and processes to

assure strategy is prudently implemented

•

PGE’s Integrated Resource Plan is a road map to provide reliable

affordable electricity for the long term

–

Latest IRP filed on June 29, 2007

–

Public process

–

Acknowledgement standard from OPUC

–

IRP includes a combination of energy efficiency, renewable and

purchased power

10

Power Supply Portfolio

2007E Generation Capacity

% of Total

Capacity

Physical

Capacity

Hydro

Deschutes River Projects

Clackamas/Willamette

River

Projects

(1)

Hydro Contracts

Natural Gas/Oil

Beaver Units 1-8

Coyote Springs

Coal

Boardman

Colstrip

298 MW

212

602

1,112

545 MW

243

1,188

380 MW

296

676

7.8%

5.5

15.7

29.1

9.9%

7.7

17.7

Port Westward

400

14.3%

6.4

10.5

31.1

Wind

Klondike II Contract

0.7%

2007E

Peak

Load

(2)

3,823 MW

27 MW

Net Purchased Power

Short-/Long-term

21.4%

820 MW

100.0%

Boardman Coal Plant

(1) Includes Bull Run located on the Sandy River.

(2) Estimated peak as of January 1, 2007.

Note: Totals may not foot due to rounding.

11

Generation Expansion –

Port Westward

Port Westward

•

Clatskanie, Oregon

•

CCGT utilizing Mitsubishi G-class turbine

•

400 MW gas-fired plant

•

6,826 heat rate

(without duct-firing)

•

$280 million                                          

(through June 30, 2007, including AFDC)

•

Placed into service June 11, 2007

•

EPC contractor: Black & Veatch

–

Fully wrapped EPC contract

•

Power island mft.: Mitsubishi

Power Systems

August 2001

March 2006

June 2007

12

Generation Expansion -

Biglow

Biglow Canyon Wind Farm

•

Columbia Gorge,

eastern Oregon

•

400 –

450 MW total installed capacity

•

Phase 1: 125 MW

–

$255 -

$265 million                 

(including AFDC)

–

76 Vestas turbines

–

1.65 MW/turbine

–

37% capacity factor

–

27 year asset life

•

Expected online December 2007

•

Phases II & III under review

–

Construction 2008 –

2010

13

Generation Growth Opportunity

Load Growth

PGE’s retail load is expected to grow

consistently while selected long-term

power purchase contracts expire, driving

need for additional generation capacity

Assumptions:

–

1.9% annual load growth through 2015

–

Expiration of certain contract hydro

rights by 2012

–

Energy supply based on plant

capabilities under normal hydro and

operating conditions

–

Most of our Beaver CCT facility is

treated as an intermediate (capacity)

resource and is not included as an

energy resource

Load Resource Balance

Annual

Average

Energy

(1)(2)

Retail Load & Resource Balance

Peak

Capacity

(1)

(1) Data as of June 29, 2007.

(2) Includes Energy Trust of Oregon energy efficiency. Does not include 5-year opt out ESS customers.

14

0

1000

2000

3000

4000

5000

6000

2009

2010

2011

2012

2013

2014

2015

Long-term Contracts

Generation

(Theoretical Availability, Normal Conditions)

1-in-2 Peak Retail Load + 12% Reserves

MW

MW

1,540

1,842

818 MWa

0

500

1000

1500

2000

2500

3000

2009

2010

2011

2012

2013

2014

2015

Generation

(Theoretical Availability,

Beaver used for peaking,)

Long-term Contracts

818

MWa

Retail Load

MWa

1,003

Generation Growth Opportunity

Proposed Action Plan

(1)

Expected

and

potential

resource

actions,

capacity

need

based

on

winter

season.

(2) Assumes normal hydro.

(3) Renewable portfolio standard.

Note: Data as of June 29, 2007.

15

Energy

Capacity

Energy/Capacity Actions

(1)

MWa

(2)

% of Target

MW

(2)

2012 Resource Target

818

-

1,540

Additional cost-effective EE 2008 – 2012

45

5%

59

Plant efficiency upgrades

7

1%

13

Hydro

70

9%

170

Biglow Canyon II & III (300 MW nameplate)

105

13%

45

PPAs of up to 5 year terms

180

22%

180

PPAs of 6 to 10 year terms

192

23%

192

Required added renewables to meet 2015 RPS

(3)

218

27%

133

Total of Possible Energy Actions

818

100%

792

Dual-purpose (Capacity and Wind following) SCCTs

-

-

100

Load control, curtailment tariff, DSG

-

-

140

Seasonal capacity purchases

-

-

508

Total of Possible Energy & Capacity Actions

-

-

1,540

Generation Growth Opportunity

Proposed Action Plan -

Generation Capacity

16%

21%

6%

32%

17%

8%

Purchased

Coal

2012E Power Sources

(1)

Total PGE System Capability

3,423 MW

2012E Peak Load

4,127 MW

18%

29%

31%

22%

Purchased

Hydro

(2)

Coal

Gas

Total

PGE

System

Capability

(3)

3,003

MW

2007E

Peak

Load

(4)

3,823

MW

2007E Power Sources

(1)

Non-hydro

Renewables

Hydro

(2)

Gas

(1) As a percent of peak load, 2012 data as of June 29, 2007. 2012E assumes PGE ownership of proposed action plan assets.

(2) Includes long-term hydro contracts.

(3) Includes 27 MW of capacity from a long-term wind contract.

(4) Estimated peak as of January 1, 2007.

16

EE, DSG &

Load Control

Forward Capital Expenditures Driving Rate Base Growth

Capital Expenditures

•

Attractive growth opportunities through capital investment in core utility assets

•

Earnings expected to grow 4 to 6 percent per year over the long term

•

Depreciation and amortization of $180 -

$200 million (2007 –

2009)

(1) Does not include AFDC.

(2) Under review; forecasted expenditures are preliminary and subject to change.

(3) Phase II & III timing subject to turbine availability and project economics.

(4) Includes maintenance and upgrades on transmission, distribution and existing generation as well as new customer connects.

17

$130 -

$135

Advanced

Metering

Infrastructure

2

-

-

-

-

$16

Port

Westward

$150 -

$160

Hydro

Relicensing

2

-

$550 –

$650

Biglow

Canyon

Wind

Farm:

Phase

II

&

III

3

$245 -

$250

-

2009

$210 -

$215

$130 -

$140

-

2008

-

-

$200 -

$205

Biglow Canyon Wind Farm: Phase I

-

Boardman

emissions

controls

2

Ongoing

capital

expenditures

4

Projects

(in

millions)¹

$225 -

$230

$240 -

$245

$185 -

$190

2011

2010

2007

Proactive Regulatory Strategy

Oregon Public Utility Commission

•

Three-member governor-appointed Commission with four-year terms

•

Rates set based on a forward test year

PGE’s Approach to Regulation

•

Communicate constantly

–

No surprises

–

Understand our issues; participate in crafting solutions

•

Seek agreement on goals or outcomes

•

Propose paths

–

Internally consistent alternatives

–

Alignment of interests always preferable

•

Keep an eye on total result: must be reasonable, in context

Deregulation

•

Oregon’s approach allows direct access for industrial and commercial customers

beginning March 2002

•

PGE essentially economically neutral to customers choosing direct access

•

Estimate that 10 percent of load from largest customers will be served by energy

service suppliers in 2007

18

Strong Management and Engaged, Valued Workforce

•

Experienced management team with officers averaging 26 years in

the utility industry

•

Dedicated and knowledgeable employee base of over 2,600

•

Scorecard-driven and customer-focused culture

•

Continued cost-effective and reliable plant operations

19

Recent Financial Results

•

Invested over $800 million in system since 2002

•

Operating statistics positive

•

Solid customer satisfaction

•

Volatile hydro conditions

•

2005 and 2006 Boardman outage

•

Lack of power cost adjustment mechanism

•

Senate Bill 408 reserve

Key Drivers of Historical Performance

Financial Summary

Year End 12/31

Year-to-Date 6/30

2005

2006

2006

2007

Revenue

$1,446

$1,520

$732

$838

Net Operating Income

126

121

47

120

Net Income

64

71

21

101

EPS

$1.02

$1.14

$0.34

$1.61

20

($ in millions, except for per share amounts)

Regulatory and Financial Highlights since 2006

•

General Rate Case for 2007 test year concluded

•

Boardman deferral granted which allows PGE to apply to recover a

portion

of the replacement power costs

•

OPUC supportive of adding wind generation to PGE rate base

•

Reached a settlement that resolves all issues between PGE and certain

California parties relating to wholesale transactions in the Western Power

markets in 2000-2001

•

PGE credit ratings, balance sheet and access to capital remain strong

Current Ratings

Sr. Secured

Sr. Unsecured

Outlook

S&P

(1)

BBB+

BBB

Negative

Moody's

Baa1

Baa2

Stable

(1) S&P rates the business risk of PGE at “5”

on a scale of 1 to 10 with 1 being the least risky.  Most integrated utility companies are

rated from 4 to 6 on this scale.

21

2007 Rate Case Results

(1) Includes annualized rate base of Port Westward.

Power

Cost

Adjustment

Mechanism

–

90/10

sharing

mechanism

after

application of ROE deadband; subject to an earnings test

Intra-year Power Cost Adj.

10.1%

Allowed ROE

Annual

Power

Cost

Update

Tariff

–

annual

reset

of

net

variable

power

costs in January of each year

Annual Power Cost Adj.

2007 Test Year

UE-180, 181 & 184

50%

Capital Structure

$2.009 billion including Port Westward¹

Avg. Rate Base

22

Regulatory Update

•

PGE absorbs all costs/benefits within the ROE band irrespective of power cost

variances

•

After the earnings test and application of the power cost sharing PGE can earn up

to 9.1% and down to 11.1% return on equity

Power cost sharing

100 Bps

10.1%

9.1%

11.1%

100 Bps

Customer Refund

Customer Surcharge

150 Bps   

of ROE

Baseline

NVPC

75 Bps     

of ROE

90/10 Sharing¹

90/10 Sharing¹

Power Cost Adjustment Mechanism

Annual Power Cost Update Tariff

•

Annual reset of rates based on forecast of net variable power costs for the coming

year. Following OPUC approval, new prices go into effect on or around January 1 of

the following year

Earnings test

($11.7) million²

$23.4 million²

(1) 90 percent with customers, 10 percent with PGE.

(2) Sharing deadband for 2007. Subject to change for future years.

23

Customer Refund

Customer Surcharge

$1,766

$2,009

(2)

$1,600

$1,700

$1,800

$1,900

$2,000

$2,100

2002

2007

($ mm)

Rate Base Growth Opportunities

Capital Expenditures

Approved Average Rate Base

45%

42%

43%

47%

50%

30%

35%

40%

45%

50%

55%

60%

2003

2004

2005

2006

2007E

Debt/Capitalization

S&P “BBB”: 50% -

60%

(1)

$167

$194

$255

$371

$529

0

100

200

300

400

500

600

2003

2004

2005

2006

2007E

($ mm)

(1)

(1) Forecasted expenditures are preliminary and subject to change.

(2) Includes annualized rate base of Port Westward.

Note: S&P target credit statistic range based on Business Position 5.

24

Regulatory and Legal Update

Boardman Coal Plant deferral

•

$26.4 million granted

•

File for amortization in third quarter 2007

•

Subject to OPUC prudence review, complete process late 2007 / early 2008

Senate Bill 408 (utility income taxes)

•

Beginning January 2006, implements an annual rate adjustment if the difference between income taxes collected

in rates and income taxes paid to taxing authorities exceeds $100,000

•

OPUC adopted permanent rules using “fixed”

methodology for determining income taxes in rates

•

Recent legislative session did not address “double whammy”

impact

Trojan Nuclear Plant: Recovery of return on investment

•

OPUC proceedings

–

Rate reset phase in abeyance

•

Class action proceedings

–

Ordered abated pending OPUC action

Bonneville Power Administration: Residential Exchange Credit

•

May 21, 2007 residential exchange credit suspended

•

June 1, 2007 residential and small farm customer rates increased

reflecting suspension of credit

•

Working with stakeholders to restore benefits for customers

25

Drivers of Future Performance

•

Strong economic and load growth in service territory

•

Continued operational excellence and customer focus drive core

utility performance

•

Investments in prudent rate base assets drive earnings and dividend

growth

•

Work closely with regulators and customer groups to achieve fair

regulatory outcomes

•

New mechanisms for sharing power cost volatility with customers

enhance stability of PGE earnings

26

Dividends

Dividends

•

Current annualized dividend of 94 cents per share, increased on

May 2, 2007, from 90 cents per share

•

Current quarter’s dividend of 23.5 cents per share payable on

October 15, 2007, to shareholders of record as of September 25,

2007

•

Over the long term, we expect a target dividend payout ratio in the   

60 percent range

27

Strategy for Success

Portland General Electric is a well-capitalized, stable

company with on-going growth opportunities

Stability

•

Vertically integrated,

regulated business

•

Strong balance sheet/

credit ratings

•

Experienced

management team

•

Supportive regulatory

environment

Growth

•

Strong load and

customer growth

•

Necessary and prudent

regulated rate base

investment opportunities

•

Earnings and dividend

growth

28

Investor Relations Contact Information

William J. Valach

Director, Investor Relations

503.464.7395

William.Valach@pgn.com

Portland General Electric Company

121 SW Salmon Street

Suite 1WTC 0403

Portland, OR 97204

www.PortlandGeneral.com

29