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Long-term Debt | 12 Months Ended
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Dec. 31, 2012
Long-term Debt Disclosure [Abstract] |
Long-term Debt | LONG-TERM DEBT Long-term debt consists of the following (in millions):
| As of December 31,
| 2012 |  | 2011
First Mortgage Bonds, rates range from 3.46% to 9.31%, with a weighted average rate of 5.84% in 2012 and 5.83% in 2011, due at various dates through 2040 | $ | 1,515 |  |  | $ | 1,615 |
Pollution Control Revenue Bonds, 5% rate, due 2033 | 142 |  |  | 142 |
Pollution Control Revenue Bonds owned by PGE | (21 | ) |  | (21 | )
Unamortized debt discount | — |  |  | (1 | )
Total long-term debt | 1,636 |  |  | 1,735 |
Less: current portion of long-term debt | (100 | ) |  | (100 | )
Long-term debt, net of current portion | $ | 1,536 |  |  | $ | 1,635 |
First Mortgage Bonds—In accordance with the terms of the debt agreement, PGE repaid during October 2012 the 5.6675% Series of First Mortgage Bonds in the amount of $100 million. The Indenture securing PGE’s outstanding First Mortgage Bonds constitutes a direct first mortgage lien on substantially all regulated utility property, other than expressly excepted property. Pollution Control Revenue Bonds—PGE has the option to remarket $21 million of Pollution Control Revenue Bonds held by the Company through 2033. At the time of any remarketing, PGE can choose a new interest rate period that could be daily, weekly, or a fixed term. The new interest rate would be based on market conditions at the time of remarketing. The Pollution Control Revenue Bonds could be backed by first mortgage bonds or a bank letter of credit depending on market conditions. As of December 31, 2012, the future minimum principal payments on long-term debt are as follows (in millions):
Years ending December 31: |  |
2013 |  | $ | 100 |
2014 |  | — |
2015 |  | 70 |
2016 |  | 67 |
2017 |  | 58 |
Thereafter |  | 1,341 |
|  | $ | 1,636 |
Interest is payable semi-annually on all long-term debt instruments.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
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