Portland General Electric Company (PGE) has reached an agreement to procure a new battery energy storage system (BESS) in Oregon, with an investment of approximately $150 million and an estimated commercial operation date of December 31, 2024. The company expects incremental capital spending of roughly $40 million for the project in 2023, bringing total expected capital spending for the company to $1,365 million in 2023 and $1,020 million in 2024. PGE will also refund $6.5 million to customers for 2020 as part of a stipulation agreement with the Public Utility Commission of Oregon (OPUC).