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Income tax Income tax (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The significant differences between the U.S. Federal statutory tax rate and PGE’s effective tax rate are reflected in the following table:

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Federal statutory tax rate			21.0		%				21.0		%				21.0		%				21.0		%
Federal tax credits*			(11.7)						(14.4)						(9.6)						(12.0)
State and local taxes, net of federal tax benefit			8.3						10.9						8.7						8.5
Flow-through depreciation and cost basis differences			(3.0)						(2.6)						(0.5)						0.3
Amortization of excess deferred income tax			(3.4)						(2.5)						(3.3)						(2.1)
Local tax flow-through adjustment			—						—						(6.1)						—
Other			(0.1)						(1.0)						(1.0)						0.4
Effective tax rate			11.1		%				11.4		%				9.2		%				16.1		%

* Federal tax credits primarily consist of production tax credits (PTCs) earned from Company-owned wind-powered generating facilities. PTCs are earned based on a per-kilowatt hour rate and, as a result, the annual amount of PTCs earned will vary based on weather conditions and availability of the facilities. PTCs are earned for 10 years from the in-service dates of the corresponding facilities. PGE’s wind-powered generating facilities are eligible to earn PTCs until various dates through 2030.

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- References

No definition available.

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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