PORTLAND, Ore. (KOIN) — The Oregon Public Utility Commission has approved an estimated rate increase of roughly 17% for Portland General Electric customers starting Jan. 1, 2024.

Customers will see the utility costs through billing charges and additional fees put in place to recover the company’s wildfire prevention costs. The Oregon Public Utility Commission said that the rate hikes were adjusted to meet PGE’s rising utility supply costs.

“PGE’s general rate increase is currently projected to be approximately $175 million when compared to current rates,” the Public Utility Commission said. “The change in power costs is projected to be an increase of approximately $203 million. 

The Public Utility Commission said that the exact rate increase will be announced in December when all proposed rate adjustments have been reviewed. The commission is currently reviewing one final condition that could lower 2024 cost estimates.