SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549


                                 Form 8-K

                              CURRENT REPORT


                  Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934


      Date of Report (Date of earliest event reported) April 11, 1997


                       Registrant; State of Incorporation; IRS Employer
COMMISSION FILE NUMBER ADDRESS; AND TELEPHONE NUMBER       IDENTIFICATION NO.

1-5532                 PORTLAND GENERAL CORPORATION        93-0909442
                       (an Oregon Corporation)
                       121 SW Salmon Street
                       Portland, Oregon 97204
                       (503) 464-8820


1-5532-99              PORTLAND GENERAL ELECTRIC COMPANY   93-0256820
                       (an Oregon Corporation)
                       121 SW Salmon Street
                       Portland, Oregon 97204
                       (503) 464-8000



                     121 S.W. SALMON STREET, PORTLAND, OREGON            97204

                      (Address of principal executive offices)         (zip
code)

               Registrant's telephone number, including area code 503-464-8820






ITEM 5.              OTHER EVENTS

REVISED  MERGER  AGREEMENT - On April 14, 1997 Enron Corp. (Enron) and Portland
General  Corporation  (PGC)  announced  that  their  Boards  of  Directors have
approved  an  amendment  (Amendment) to the Amended and Restated Agreement  and
Plan of Merger, dated as of  July  20,  1996  and  amended  and  restated as of
September  24,  1996,  by and among PGC, Enron, and Enron Oregon Corp.  (Merger
Agreement). The amendment provides for a new share exchange ratio. The previous
ratio of 1.0 to 1.0 has  been  adjusted  to  a  ratio of 0.9825 shares of Enron
common  stock  for  every  1.0 share of PGC common stock.  The  amended  Merger
Agreement requires PGC shareholder  approval.  A  shareholder vote is currently
scheduled to take place at PGC's annual shareholder  meeting scheduled for June
24, 1997.

Enron and PGC intend to submit a proposal for merger approval  that  includes a
commitment that Portland General Electric Company (PGE) customers will  receive
guaranteed merger benefits of $141 million.  This proposal will respond to  the
final  report  issued  by  the  staff  (Staff)  of  the  Oregon  Public Utility
Commission  (OPUC) on April 11, 1997. The Staff's final report  recommended that
the merger not  be  approved  because Enron had not shown that the merger would
serve PGE customers in the public interest. The parties to the merger will have
the opportunity to file comments  on the final Staff report and to present oral
arguments to the OPUC. An order from the OPUC is scheduled for June 4, 1997.

For further background information  regarding  the proposed merger  see the PGE
and PGC report on Form 10-K for the year ended December  31, 1996 and report on
Form 8-K dated March 12, 1997.

ITEM 7.                FINANCIAL  STATEMENTS,  PRO FORMA FINANCIAL  INFORMATION
AND EXHIBITS

Exhibit  2  - First Amendment to Amended and Restated  Agreement  and  Plan  of
Merger, dated  as of April 14, 1997, by and among Enron Corp., Portland General
Corporation and Enron Oregon Corp.


                                Signatures


Pursuant to the  requirements  of  the  Securities  Exchange  Act  of 1934, the
registrants  have duly caused this report to be signed on their behalf  by  the
undersigned hereunto duly authorized.


                       Portland General Corporation
                       Portland General Electric Company


April 16, 1997         By                /S/        JOSEPH       E.       FELTZ

                                          Joseph E. Feltz
                                       Assistant Controller
                                       Assistant Treasurer