2015 Annual Report
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In 2015, our broad mix of energy-saving and renewable power programs helped pave the way to improved living, better business and smarter energy solutions for individuals, companies and communities.
Served customers at more than 83,000 sites in 2015
$362 million saved on customer utility bills in 2015
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Customer Stories

Explore stories from a few of the many customers who benefited from energy efficiency and renewable energy in 2015. Click on the map to see a story.

  • KEY:
  • Residential Residential
  • Commercial Commercial & Multifamily
  • Industrial Industry & Agriculture
  • Renewables Renewable Energy
  • Trade Allies Trade Allies
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Annual Results

In 2015, Energy Trust exceeded all organizational goals while maintaining very low costs and high customer satisfaction ratings. It was our highest year for natural gas savings, one of our top years for electric savings and our highest year for new solar installations.

Annual Results

Electric Efficiency

Savings (aMW) 0 10 20 30 54.1 40 50 53.1 60 Savings Goal

Gas Efficiency

Savings (therm millions) 0 1 2 3 6.5 4 5 6 5.6 7 Savings Goal

Renewable Energy

Generation (aMW) 0 1 2 3 3.90 4 5 3.47 Generation Goal

Savings + Generation by Sector

Electric Efficiency

Industrial24% Residential38% Commercial38%

Gas Efficiency

Industrial32% Residential31% Commercial37%

Renewable Generation

ResidentialSolar30% CommercialSolar14% Biopower45% Hydropower 6% Custom Solar 5%

Annual Efficiency Results by Utility

Portland General Electric

Savings (aMW) 0 10 20 30 31.9 40 50 33.2 Savings Goal

Pacific Power

Savings (aMW) 0 5 10 15 22.3 20 25 19.9 Savings Goal

NW Natural

Savings Goal Savings (therm millions) 0 1 2 3 5.9 4 6 5 5.2

Cascade Natural Gas

Savings Goal Savings (therm millions) 0 0.1 0.2 0.3 0.57 0.4 0.6 0.5 0.43

Oregon Public Utility Commission Performance Measures

Category 2015 Performance Measures 2015 Result Status
PGE efficiency 28.2 aMW 31.9 aMW
PGE efficiency Levelized cost not to exceed 3.6 cents/kWh 2.7 cents/kWh checkmark
Pacific Power efficiency 16.9 aMW 22.3 aMW
Pacific Power efficiency Levelized cost not to exceed 3.6 cents/kWh 2.6 cents/kWh checkmark
NW Natural efficiency 4.4 million annual therms 5.9 million annual therms
NW Natural efficiency Levelized cost not to exceed 37 cents/therm 26 cents/therm checkmark
Cascade Natural Gas efficiency 0.41 million annual therms 0.57 million annual therms
Cascade Natural Gas efficiency Levelized cost not to exceed 41 cents/therm 32.4 cents per therm checkmark
Renewable energy Report project development assistance results Delivered $2,052,543 for 35 projects checkmark
Renewable energy 1.1 aMW standard net-metered projects Standard solar generation 1.7 aMW checkmark
Renewable energy Not to exceed $25/MWh for non-solar custom projects Allocated $15.82/MWh on a 3-year rolling average checkmark
Renewable energy Report selection criteria if any custom solar project funding Dedicated funding for one custom solar project checkmark
Financial integrity Unmodified financial opinion Unmodified checkmark
Administrative and program support costs Below 9% of annual revenues 5.5% checkmark
Staffing expenditures Not to exceed 7.75% of total organization expenditures calculated on a three-year rolling average 6.8% checkmark
Customer satisfaction Greater than 85% satisfaction rates for interactions with program representatives and overall satisfaction Received 98% and 95% satisfaction, respectively checkmark
Benefit/cost ratios Report benefit/cost ratios for both utility system and total resource perspective All benefit/cost ratios were greater than 1.0 and no mid-year update needed checkmark

One average megawatt, aMW, of electricity is the generation of one megawatt every hour for one year.
Levelized cost is Energy Trust’s total cost to save or generate each unit of energy over the life of the measure (which ranges from one to 20 years or more).

Financials

Overview


These financial highlights are excerpts from independently audited financial statements prepared by Moss Adams LLP.
See the full set of audited financials for 2015 »

Balance sheet


Assets $96,925,051
Liabilities $28,691,756
Net assets $68,223,295

Revenues


PGE $79,088,817
Pacific Power $48,093,050
NW Natural $17,367,078
Cascade Natural Gas $1,294,913
Other sources $551,531
Total revenue $146,396,938

Expenses by utility service territory


PGE $87,490,968
Pacific Power $55,729,412
NW Natural $18,553,018
Cascade Natural Gas $2,221,876
Total expenses $163,995,274

Expenses by type


Energy efficiency $141,312,783
Renewable energy $17,266,025
Administration $5,416,466
Total expenses $163,995,274

As intended, Energy Trust used program reserves to meet expenses in excess of revenue.

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