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Yakima Today
By the People, for the People
PacifiCorp to Sell Washington Assets to PGE for $1.9 Billion
The deal includes the Chehalis thermal plant and Marengo and Goodnoe Hills wind farms.
Published on Feb. 18, 2026
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PacifiCorp has agreed to sell its wind, natural gas generation, and distribution assets in Washington to Portland General Electric (PGE) for $1.9 billion. The transaction includes significant facilities like the Chehalis thermal plant and the Marengo and Goodnoe Hills wind farms, as well as distribution infrastructure serving customers in Yakima, Walla Walla, and nearby areas.
Why it matters
PacifiCorp's decision to sell is driven by increasing challenges related to varying regulatory policies in the six states where it operates, which have put pressure on the company's ability to provide reliable and cost-effective service, impacting its financial health, liquidity, and credit ratings. The sale is part of PacifiCorp's strategy to enhance its financial stability and streamline operations across its service regions.
The details
The agreement includes the Chehalis thermal plant and the Marengo and Goodnoe Hills wind farms, as well as the distribution infrastructure that supports customers in Yakima, Walla Walla, and nearby areas currently served by Pacific Power. The transaction is subject to standard adjustments to the purchase price and is expected to take around a year to complete.
- PacifiCorp and PGE announced the $1.9 billion deal on February 17, 2026.
- The transaction is expected to be completed in approximately one year.
The players
PacifiCorp
A utility company that provides electricity to nearly two million customers in the Western and Intermountain West regions of the United States.
Portland General Electric (PGE)
An electric utility company that serves customers in the Portland, Oregon metropolitan area and surrounding regions.
Darin Carroll
The CEO of PacifiCorp.
What they’re saying
“This is a targeted step toward ensuring the continued delivery of safe, reliable power to our nearly two million customers in the West and Intermountain West.”
— Darin Carroll, CEO, PacifiCorp (Yahoo Finance)
“This transaction will better align the costs, benefits and obligations across PacifiCorp's diverse service areas and help create a more workable multi-state utility structure.”
— Darin Carroll, CEO, PacifiCorp (Yahoo Finance)
What’s next
The completion of this transaction is expected to take around a year, and both PacifiCorp and PGE are working towards ensuring a smooth transition for employees in Washington.
The takeaway
This sale is part of PacifiCorp's broader strategy to enhance its financial stability and streamline operations across its service regions, which have been impacted by varying regulatory policies in the six states where it operates. The transaction will allow PacifiCorp to focus on its core markets and improve its ability to provide reliable and cost-effective service to its customers.
