XML 17 R7.htm IDEA: XBRL DOCUMENT
v3.19.2

Revenue Recognition (Notes) | 6 Months Ended
--- | ---
Jun. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract] |
Revenue Recognition, Multiple-deliverable Arrangements [Table Text Block] | REVENUE RECOGNITION Disaggregated Revenue The following table presents PGE’s revenue, disaggregated by customer type (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 | 2018 |  | 2019 | 2018
Retail: |  |  |  |  |
Residential | $ | 205 |  | $ | 207 |  |  | $ | 495 |  | $ | 475 |
Commercial | 158 |  | 162 |  |  | 312 |  | 313 |
Industrial | 50 |  | 39 |  |  | 94 |  | 83 |
Direct access customers | 10 |  | 13 |  |  | 21 |  | 23 |
Subtotal | 423 |  | 421 |  |  | 922 |  | 894 |
Alternative revenue programs, net of amortization | (2 | ) | — |  |  | 1 |  | (2 | )
Other accrued (deferred) revenues, net(1) | 6 |  | (10 | ) |  | 13 |  | (27 | )
Total retail revenues | 427 |  | 411 |  |  | 936 |  | 865 |
Wholesale revenues(2) | 16 |  | 24 |  |  | 53 |  | 52 |
Other operating revenues | 17 |  | 14 |  |  | 44 |  | 25 |
Total revenues | $ | 460 |  | $ | 449 |  |  | $ | 1,033 |  | $ | 942 |
(1) Amounts for the three months ended June 30, 2019 and 2018 primarily comprised of $5 million of amortization and $10 million of deferral, respectively, related to the 2018 net tax benefits due to the change in corporate tax rate under the TCJA. Amounts for the six months ended June 30, 2019 and 2018 primarily comprised of $11 million of amortization and $25 million of deferral, respectively, related to the 2018 net tax benefits due to the change in corporate tax rate under the TCJA. (2) Wholesale revenues include $2 million and $4 million related to electricity commodity contract derivative settlements for the three months ended June 30, 2019 and 2018, respectively, and $13 million and $6 million, respectively, for the six months ended June 30, 2019 and 2018. Price risk management derivative activities are included within total revenues but do not represent revenues from contracts with customers. For further information, see Note 5, Risk Management. Retail Revenues The Company’s primary revenue source is the sale of electricity to customers at regulated tariff-based prices. Retail customers are classified as residential, commercial, or industrial. Residential customers include single-family housing, multiple-family housing (such as apartments, duplexes, and town homes), manufactured homes, and small farms. Residential demand is sensitive to the effects of weather, with demand highest during the winter heating and summer cooling seasons. Commercial customers consist of non-residential customers who accept energy deliveries at voltages equivalent to those delivered to residential customers. Commercial customers include most businesses, small industrial companies, and public street and highway lighting accounts. Industrial customers consist of non-residential customers who accept delivery at higher voltages than commercial customers. Demand from industrial customers is primarily driven by economic conditions, with weather having little impact on energy use by this customer class. In accordance with state regulations, PGE’s retail customer prices are based on the Company’s cost of service and are determined through general rate case proceedings and various tariff filings with the Public Utility Commission of Oregon (OPUC). Additionally, the Company offers pricing options that include a daily market price option, various time-of-use options, and several renewable energy options. Retail revenue is billed based on monthly meter readings taken at various cycle dates throughout the month. At the end of each month, PGE estimates the revenue earned from energy deliveries that has not yet been billed to customers. This amount, which is classified as Unbilled revenues in the Company’s condensed consolidated balance sheets, is calculated based on actual net retail system load each month, the number of days from the last meter read date through the last day of the month, and current customer prices. PGE’s obligation to sell electricity to retail customers generally represents a single performance obligation representing a series of distinct services that are substantially the same and have the same pattern of transfer to the customer that is satisfied over time as customers simultaneously receive and consume the benefits provided. PGE applies the invoice method to measure its progress towards satisfactorily completing its performance obligations. Pursuant to regulation by the OPUC, PGE is mandated to maintain several tariff schedules to collect funds from customers associated with activities for the benefit of the general public, such as conservation, low-income housing, energy efficiency, renewable energy programs, and privilege taxes. For such programs, PGE generally collects the funds and remits the amounts to third party agencies that administer the programs. In these arrangements, PGE is considered to be an agent, as PGE’s performance obligation is to facilitate a transaction between customers and the administrators of these programs. Therefore, such amounts are presented on a net basis and are not reflected in Revenues, net within the condensed consolidated statements of income and comprehensive income. Wholesale Revenues PGE participates in the wholesale electricity marketplace in order to balance its supply of power to meet the needs of its retail customers. Interconnected transmission systems in the western United States serve utilities with diverse load requirements and allow the Company to purchase and sell electricity within the region depending upon the relative price and availability of power, hydro, solar and wind conditions, and daily and seasonal retail demand. PGE’s Wholesale revenues are primarily short-term electricity sales to utilities and power marketers that consist of single performance obligations satisfied as energy is transferred to the counterparty. The Company may choose to net certain purchase and sale transactions in which it would simultaneously receive and deliver physical power with the same counterparty; in such cases, only the net amount of those purchases or sales required to meet retail and wholesale obligations will be physically settled and recorded in Wholesale revenues. Other Operating Revenues Other operating revenues consist primarily of gains and losses on the sale of natural gas volumes purchased that exceeded what was needed to fuel the Company’s generating facilities, as well as revenues from transmission services, excess transmission capacity resales, excess fuel sales, utility pole attachment revenues, and other electric services provided to customers. Arrangements with Multiple Performance Obligations Certain contracts with customers, primarily wholesale, may include multiple performance obligations. For such arrangements, PGE allocates revenue to each performance obligation based on its relative standalone selling price. PGE generally determines standalone selling prices based on the prices charged to customers.

X
- References No definition available. + Details
Name: | us-gaap_RevenueRecognitionAndDeferredRevenueAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the recognition of revenue arrangements under which the entity does or will perform multiple revenue-generating activities, categorized by type of arrangement. This item includes certain revenue arrangements that include software elements. This item does not include multiple-deliverable arrangements for industries that prepare disclosures under specific requirements (for instance, construction-type and production-type contracts) otherwise provided for in the taxonomy. + References No definition available. + Details
Name: | us-gaap_RevenueRecognitionMultipleDeliverableArrangementsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration