Portland General Electric Investor Presentation — July 2021

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Portland General Electric

EARNINGS CONFERENCE CALL

SECOND QUARTER 2021Exhibit 99.22Information Current as of July 30, 2021

Except as expressly noted, the information in this presentation is current as of July 30, 2021 —the date on which PGE filed it s Quarterly Report on Form 10 -Q for the quarter

ended June 30, 2021 —and should not be relied upon as being current as of any subsequent date. PGE undertakes no duty to update this presentation, except as may be

Forward -Looking Statements

Statements in this presentation that relate to future plans, objectives, expectations, performance, events and the like may c onstitute "forward -looking statements" within the

meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and S ection 21E of the Securities Exchange Act of

1934, as amended. These forward -looking statements represent our estimates and assumptions as of July 30, 2021. The Company ass umes no obligation to update or

revise any forward -looking statement as a result of new information, future events or other factors.

Forward -looking statements include statements regarding the Company's full -year earnings guidance (including expectations regard ing annual retail deliveries, average

hydro conditions, wind generation, normal thermal plant operations, operating and maintenance expense and depreciation and am ortization expense) as well as other

statements containing words such as "anticipates," "believes," "intends," "estimates," "promises," "expects," "should," "cond itioned upon," and similar expressions. Investors

are cautioned that any such forward -looking statements are subject to risks and uncertainties, including, without limitation: d emand for electricity; the sale of excess energy

during periods of low demand or low wholesale market prices; operational risks relating to the Company's generation facilitie s, including hydro conditions, wind conditions,

disruption of fuel supply, and unscheduled plant outages, which may result in unanticipated operating, maintenance and repair costs, as well as replacement power costs;

failure to complete capital projects on schedule or within budget, or the abandonment of capital projects, which could result inthe Company's inability to recover project

costs; the costs of compliance with environmental laws and regulations, including those that govern emissions from thermal po wer plants; changes in weather, hydroelectric

and energy market conditions, which could affect the availability and cost of purchased power and fuel; the development of al ternative technologies; changes in capital and

credit market conditions, which could affect the access to and availability of cost of capital and result in delay or cancell ation of capital projects or execution of the