PacifiCorp sells Oregon distribution assets to three electric cooperatives

PacifiCorp has executed nonbinding term sheets to sell its electricity distribution assets in Wallowa County, the Monroe area, and Lakeview, Oregon, to three separate electric cooperatives. Oregon Trail Electric Cooperative will acquire the Wallowa County assets serving 5,514 customers, including residential, commercial, and irrigation accounts. Blachly-Lane Electric Cooperative will take over the Monroe area assets serving 1,162 customers, and Surprise Valley Electrification Corporation will acquire the Lakeview assets serving 2,228 customers. These transactions are part of PacifiCorp's strategy to strengthen its financial position and simplify operations, ensuring the continued delivery of reliable electricity. The deals are subject to regulatory approval and are expected to be completed within 12 months after definitive agreements are negotiated and executed.

Counterparts (5)

Buyer

B

Blachly-Lane Electric Cooperative

company

S

Surprise Valley Electrification Corporation

company

Oregon Trail Electric Cooperative

company

Oregon Trail Electric Cooperative (OTEC) is a member-owned electric cooperative providing electricity and related services to its members in eastern Oregon. OTEC focuses on providing reliable and affordable electricity while also investing in renewable energy resources.

Seller

Pacific Power & Light

company

Pacific Power & Light is an electric utility company providing electricity generation, transmission, and distribution services to customers in the western United States. They focus on providing reliable and affordable energy while transitioning to cleaner energy sources.

PacifiCorp

company

Portland-based electric utility serving customers across six Western U.S. states with a focus on grid modernization, renewable energy integration, and wildfire mitigation. Operates transmission infrastructure and diverse generation assets including hydro, wind, solar, and thermal power.