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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000784977-09-000077.txt : 20091001
<SEC-HEADER>0000784977-09-000077.hdr.sgml : 20091001
<ACCEPTANCE-DATETIME>20091001132103
ACCESSION NUMBER:		0000784977-09-000077
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090930
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
FILED AS OF DATE:		20091001
DATE AS OF CHANGE:		20091001

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PORTLAND GENERAL ELECTRIC CO /OR/
		CENTRAL INDEX KEY:			0000784977
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				930256820
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05532-99
		FILM NUMBER:		091098003

	BUSINESS ADDRESS:	
		STREET 1:		121 SW SALMON ST
		STREET 2:		1WTC0501
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97204
		BUSINESS PHONE:		5034647779

	MAIL ADDRESS:	
		STREET 1:		121 SW SALMON STREET
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97204
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>frm8k930.htm
<TEXT>
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<HEAD>
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<META NAME="Template" CONTENT="C:\Program Files\Microsoft Office\Office\html.dot">
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<FONT SIZE=4><P>&nbsp;</P>
<P ALIGN="CENTER">UNITED STATES</P>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
</FONT><P ALIGN="CENTER">Washington, D.C. 20549</P>
<B><FONT SIZE=5><P ALIGN="CENTER">Form 8-K</P>
</B></FONT><P ALIGN="CENTER">CURRENT REPORT</P>
<P>&nbsp;</P>
<B><P ALIGN="CENTER">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>
<P ALIGN="CENTER">SECURITIES EXCHANGE ACT OF 1934</P>
</B><P>&nbsp;</P>
<B><P ALIGN="CENTER">Date of Report (Date of earliest event reported) September 30, 2009</P>
</B><P>&nbsp;</P>
<B><FONT SIZE=5><P ALIGN="CENTER">PORTLAND GENERAL ELECTRIC COMPANY</P>
</B></FONT><P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</P>
<P ALIGN="CENTER">&nbsp;</P>
<FONT SIZE=2><P>&nbsp;</P>
<P>&nbsp;</P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=635 DIR="LTR">
<TR><TD WIDTH="32%" VALIGN="TOP">
<B><P>Oregon</B></TD>
<TD WIDTH="32%" VALIGN="TOP">
<B><P ALIGN="CENTER">1-5532-99</B></TD>
<TD WIDTH="36%" VALIGN="TOP">
<B><P ALIGN="RIGHT">93-0256820</B></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<P>(State or other jurisdiction of incorporation)</TD>
<TD WIDTH="32%" VALIGN="TOP">
<P ALIGN="CENTER">Commission File Number</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P ALIGN="RIGHT">(I.R.S. Employer</P>
<P ALIGN="RIGHT">Identification No.)</TD>
</TR>
</TABLE>
</CENTER></P>

<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">121 SW Salmon Street, Portland, Oregon 97204</P>
</B><P ALIGN="CENTER">(Address of principal executive offices) (zip code)</P>
<P>&nbsp;</P>
<P ALIGN="CENTER">Registrant's telephone number, including area code: <B>(503) 464-8000</P>
</B><P>&nbsp;</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=700 DIR="LTR">
<TR><TD VALIGN="MIDDLE" COLSPAN=2>
<P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="MIDDLE">
<FONT SIZE=1><P ALIGN="RIGHT">[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH="96%" VALIGN="BOTTOM">
<P>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="MIDDLE">
<FONT SIZE=1><P ALIGN="RIGHT">[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH="96%" VALIGN="BOTTOM">
<P>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="MIDDLE">
<FONT SIZE=1><P ALIGN="RIGHT">[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH="96%" VALIGN="BOTTOM">
<P>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="MIDDLE">
<FONT SIZE=1><P ALIGN="RIGHT">[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH="96%" VALIGN="BOTTOM">
<P>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>
</CENTER></P>

<B><P ALIGN="JUSTIFY">Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</P>
</B><P ALIGN="JUSTIFY">On September 30, 2009, Portland General Electric Company (PGE or the Company) and certain institutional buyers (Buyers) in the private placement market entered into an agreement under which PGE would sell, and the Buyers would purchase, an aggregate of $150 million of PGE's First Mortgage Bonds (Bonds). The Bonds are expected to be issued to the Buyers on or about November 3, 2009 (Original Issue Date). The agreement calls for the Bonds to bear interest from the Original Issue Date at an annual rate of 5.43% and mature on May 3, 2040.</P>
<P ALIGN="JUSTIFY">The Bonds will be issued pursuant to a Bond Purchase Agreement between PGE and the Buyers and under PGE's Indenture of Mortgage and Deed of Trust, dated July 1, 1945, as supplemented, between PGE and HSBC Bank USA, National Association (as successor to The Marine Midland Trust Company of New York) in its capacity as trustee, including the Sixty-third Supplemental Indenture dated the Original Issue Date. The Bonds will be redeemable at the option of PGE at the designated "make-whole" redemption price as described in the Sixty-third Supplemental Indenture.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;</P>
<P>&nbsp;&nbsp;</P>
<P>&nbsp;</P>
<B><P ALIGN="CENTER">SIGNATURE</P>
</B><P ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=613 DIR="LTR">
<TR><TD VALIGN="TOP" COLSPAN=2 HEIGHT=18>
<U><P ALIGN="RIGHT">PORTLAND GENERAL ELECTRIC COMPANY</U></TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="57%" VALIGN="TOP" HEIGHT=18>
<P ALIGN="CENTER">(Registrant)</TD>
</TR>
</TABLE>

<P>&nbsp;</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=613 DIR="LTR">
<TR><TD WIDTH="10%" VALIGN="BOTTOM">
<U><P ALIGN="RIGHT">Date: </U></TD>
<TD WIDTH="34%" VALIGN="BOTTOM">
<U><P>October 1, 2009</U></TD>
<TD WIDTH="7%" VALIGN="TOP">
<U><P ALIGN="RIGHT">By:</U></TD>
<TD WIDTH="49%" VALIGN="TOP">
<U><P>/s/ Maria M. Pope</U></TD>
</TR>
<TR><TD WIDTH="44%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="49%" VALIGN="TOP">
<P>Maria M. Pope<BR>
<I>Senior Vice President, Chief Financial Officer and Treasurer</I></TD>
</TR>
</TABLE>

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