Portland General Electric Investor Presentation — October 2020

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Portland General Electric

EARNINGS CONFERENCE CALL

THIRD QUARTER 2020Exhibit 99.2Cautionary statement

2Information Current as of October 30, 2020

Except as expressly noted, the information in this presentation is current as of October 30, 2020 —the date on which PGE filed its Quarterly Report on Form 10 -Q for the quarter ended

September 30, 2020 —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 required by law.

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 Section 21E of t he Securities Exchange Act of 1934, as amended. Forward -looking

statements include statements regarding the Company's full -year earnings guidance (including expectations regarding annual retai l deliveries, average hydro conditions, wind generation,

normal thermal plant operations, operating and maintenance expense and depreciation and amortization expense) as well as othe r statements containing words such as "anticipates,"

"believes," "intends," "estimates," "promises," "expects," "should," "conditioned upon," and similar expressions. Investors a re cautioned that any such forward -looking statements are subject

to risks and uncertainties, including, without limitation: the outcome of the review being conducted by the Special Committee relating to energy trading losses; the impact of the

recommendations of the Special Committee on the Company and its operations; the time and expense incurred in implementing the recommendations of the Special Committee; any

reputational damage to the Company relating to the matters underlying the Special Committee's review; demand 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 facilities, including hydro conditions, w indconditions, disruption of fuel supply, and unscheduled plant

outages, which may result in unanticipated operating, maintenance and repair costs, as well as replacement power costs; failu re to complete capital projects on schedule or within budget, or

the abandonment of capital projects, which could result in the Company's inability to recover project costs; the costs of com pliance with environmental laws and regulations, including those

that govern emissions from thermal power plants; changes in weather, hydroelectric and energy markets conditions, which could affect the availability and cost of purchased power and fuel;