Portland General Electric says Carty Generating Station construction on schedule Construction on the Carty Generating Station is on schedule for the 440 megawatt natural gas-fired baseload power plant located near Boardman, Ore. The plant is expected to be placed into service during the second quarter of 2016 at an estimated cost of $450 million, excluding allowance for funds used during construction (AFDC). Carty’s gas turbine and generator have been installed and the steam turbine and steam turbine generator have been shipped. Welding on the heat recovery steam generator piping is ongoing, and the construction percentage complete is approximately 50 percent.
Portland General Electric cuts FY15 EPS to $2.05-$2.20 from $2.20-$2.35 FY15 EPS consensus of $2.28. Expects FY15 retail deliveries growth adjusted for weather of approximately 1%. Expects below average hydro conditions and normal thermal plant and wind operations in 2015. Sees FY15 depreciation and amortization expense between $300M-$310M. Sees FY15 CapEx $609M.