Portland General Electric Special Committee Of Board Concludes Energy Trading Activity Review
WASHINGTON (dpa-AFX) - Portland General Electric Co. or PGE (POR) said Friday that the Special Committee of the company s board of directors as concluded its independent review of the energy trading activity that led to the losses incurred by the company in the third quarter.
The Special Committee concluded that the trades were ill-conceived and disclosed opportunities to improve the company s energy trading policies and practices.
In addition, the company s board has concluded that the actions taken by the company since August to enhance oversight of energy trading and associated risk management reporting, policies and practices are consistent with the Special Committee s recommendations. The board will monitor the actions through enhanced reporting.
Portland General Electric Announces Conclusion of the Review by the Special Committee of the Board of Directors
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