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Texas Pacific's Offer to Buy Oregon Electric Utility Doesn't Include Rate Cut.

By Jeff Manning, The Oregonian, Portland, Ore. Knight Ridder/Tribune Business News

Mar. 9--Texas Pacific Group filed with state regulators Monday its anxiously awaited application to acquire Portland General Electric and in so doing drew a line in the sand that sets up an almost certain clash with customer groups.

The plan filed with the Oregon Public Utility Commission kicks off an approval process in which Texas Pacific must show that its acquisition of PGE, Oregon's largest electric utility, from Enron would be in the "public interest."

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