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{{short description|Energy utility in the U.S. state of Washington}}
{{Advert|article|date=June 2011}}
{{primary sources|date=March 2019}}
{{Infobox company
{{Infobox company
| name = Puget Sound Energy
| name = Puget Sound Energy, Inc.
| type = Private
| type = [[Privately held company|Private]]
| logo = [[Image:PSE logo.gif]]
| logo = Puget Sound Energy logo.svg
⚫
| industry = [[Energy]], [[Utilities|utility]]
⚫
| caption = Puget Sound Energy Logo
| foundation = {{start date and age|1997}}, in [[Seattle, Washington]], U.S.
⚫
| industry = [[Energy]], [[Utility]]
⚫
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| foundation = 1873
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| location_city = [[Bellevue, Washington]], U.S.
⚫
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| key_people = Mary E. Kipp ([[President (corporate title)|president]] and [[Chief executive officer|CEO]])
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| location_city = [[Bellevue, Washington]] (Founded: [[Seattle, Washington]])
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| products = [[Electricity]] and [[natural gas]]
| key_people = Kimberly J. Harris, President and CEO
| revenue = $3.35 billion (2023)<ref name="SEC">{{cite web |date=March 5, 2024 |title=Puget Sound Energy, Inc. Form 10-K: Annual Report For the Fiscal Year Ended December 31, 2023 |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/81100/000108539224000008/psd-20231231.htm |publisher=[[U.S. Securities and Exchange Commission]] |accessdate=July 11, 2024}}</ref>
⚫
| products = [[Electricity]] and [[natural gas]]
| num_employees = 3,300<ref name="About">{{cite web |title=About us |url=https://www.pse.com/en/about-us |publisher=Puget Sound Energy |accessdate=July 11, 2024}}</ref>
| revenue = $3.23 billion. (2009 Energy Sales)
| num_employees_year = 2023
| num_employees = 3,000
| owner = [[Alberta Investment Management Corporation|AIMCo]], [[British Columbia Investment Management Corporation|BCI]], [[OMERS]], and [[PGGM]]
| owner = [[Macquarie Group|Macquarie Consortium]]
| homepage = {{URL|www.pse.com}}
| homepage = {{URL|pse.com}}
}}
}}


'''Puget Sound Energy''' (PSE) is Washington state's oldest local energy utility providing [[electricity|electrical power]] and [[natural gas]] primarily in the [[Puget Sound]] region of the northwest [[United States]]. The utility serves electricity to more than 1.1 million customers in [[Island County, Washington|Island]], [[Jefferson County, Washington|Jefferson]], [[King County, Washington|King]], [[Kitsap County, Washington|Kitsap]], [[Kittitas County, Washington|Kittitas]], [[Pierce County, Washington|Pierce]], [[Skagit County, Washington|Skagit]], [[Thurston County, Washington|Thurston]], and [[Whatcom County, Washington|Whatcom]] counties; and provides natural gas to 750,000 customers in King, Kittitas, [[Lewis County, Washington|Lewis]], Pierce, [[Snohomish County, Washington|Snohomish]] and Thurston counties. PSE’s {{convert|6,000|sqmi|km2|adj=on}} electric and natural gas service area covers the largest metropolitan region north of San Francisco and west of Chicago. This area includes much of the more developed areas of western Washington State, excluding electrical service to the major cities of Seattle, Tacoma, and Everett, which are served by [[Seattle City Light]], [[Tacoma Power]], and [[Snohomish County PUD]] respectively. PSE shares effective control over electric transmission in the region with [[Bonneville Power Administration]], which owns or controls much of the state's large transmission lines and hydro generation.
'''Puget Sound Energy, Inc.'''<ref>{{Cite web |title=Corporations and Charities System |url=https://ccfs.sos.wa.gov/?_gl=1*15dk50t*_ga*NDc3NDA2NjYyLjE3MjEwNjczNDA.*_ga_7B08VE04WV*MTcyMTEwMDgxMy4yLjEuMTcyMTEwMDgyNi4wLjAuMA..#/BusinessSearch/BusinessInformation |access-date=2024-07-16 |website=ccfs.sos.wa.gov}}</ref> ('''PSE''') is an [[Public utility|energy utility]] company based in the [[U.S. state]] of [[Washington (state)|Washington]] that provides [[electricity|electrical power]] and [[natural gas]] to the [[Puget Sound region]]. The utility serves electricity to more than 1.2 million customers in [[Island County, Washington|Island]], [[King County, Washington|King]], [[Kitsap County, Washington|Kitsap]], [[Kittitas County, Washington|Kittitas]], [[Pierce County, Washington|Pierce]], [[Skagit County, Washington|Skagit]], [[Thurston County, Washington|Thurston]], and [[Whatcom County, Washington|Whatcom]] counties,<ref name="About"/> and provides natural gas to 877,000 customers<ref name="SEC"/> in King, Kittitas, [[Lewis County, Washington|Lewis]], Pierce, [[Snohomish County, Washington|Snohomish]] and Thurston counties. The company's electric and natural gas service area spans {{convert|6,000|sqmi|km2|adj=off}}.<ref name="About"/>


== Facilities ==
== Facilities ==


PSE’s electric supplies include utility-owned resources as well as those under long-term contract, for a total capacity of 5,044 [[megawatts]] (MW).
PSE's electric supplies include utility-owned resources as well as those under long-term contract, for a total capacity of 5,044 [[megawatts]] (MW).
While PSE-owned generating capacity is at 3,597 MW.<ref>[https://pse.com/aboutpse/PseNewsroom/MediaKit/020_About_PSE_web.pdf Factsheet], About PSE</ref>


PSE owns coal, hydroelectric, natural gas and wind power-generating facilities, with more than 2,900&nbsp;MW of capacity. Roughly one-third each of PSE generation comes from coal, hydroelectric, and natural gas facilities, with a small remainder coming from wind and energy efficiency programs.
PSE owns coal, hydroelectric, natural gas and wind power-generating facilities, with more than 3,500&nbsp;MW of capacity. In 2018, PSE's generation was 36% coal, 32% hydroelectric, 20% natural gas, and 10% wind derived. Less than one percent originated from other [[efficient energy use|energy efficiency]] programs.<ref name=":0">{{Cite web|url=https://www.pse.com/pages/energy-supply/electric-supply|title=Electricity Supply|website=pse.com|language=en-us|access-date=2020-08-30}}</ref>


Coal accounts for 36% of PSE’s electricity fuel mix.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report]</ref> PSE's partial ownership of Eastern Montana's [[Colstrip, Montana|Colstrip]] Generating Station represents the single largest power-generating facility PSE owns, approximately 700&nbsp;MW of generating capacity. In 2010, the Colstrip Generating station was the 8th largest greenhouse gas emitter among power plants in the United States.<ref>U.S. EPA ghgdata, [http://ghgdata.epa.gov/ghgp/main.do#/treeSector/?q=Facility%20or%20Location&st=&fid=&lowE=15400000&highE=23000000&&g1=1&g2=1&g3=1&g4=1&g5=1&g6=1&g7=1&s1=1&s2=0&s3=0&s4=0&s5=0&s6=0&s7=0&s8=0&s9=0&s301=1&s302=1&s303=1&s304=1&s305=1&s306=1&s401=1&s402=1&s403=1&s404=1&s601=1&s602=1&s701=1&s702=1&s703=1&s704=1&s705=1&s706=1&s707=1&s708=1&s709=1&s710=1&s711=1&s801=1&s802=1&s803=1&s804=1&s805=1&s901=1&s902=1&s903=1&s904=1&s905=1&ss=&so=0&ds=E&yr=2010 2010 Greenhouse Gas Emissions from Large Facilities], 2010</ref>
Coal accounted for 36% of PSE's electricity fuel mix in 2018.<ref name=":0" /> PSE's partial ownership of Eastern Montana's [[Colstrip, Montana|Colstrip]] Generating Station represents the single largest power-generating facility PSE owns, approximately 700&nbsp;MW of generating capacity. In 2010, the Colstrip Generating station was the 8th largest greenhouse gas emitter among power plants in the United States.<ref>U.S. EPA ghgdata, [http://ghgdata.epa.gov/ghgp/main.do#/treeSector/?q=Facility%20or%20Location&st=&fid=&lowE=15400000&highE=23000000&&g1=1&g2=1&g3=1&g4=1&g5=1&g6=1&g7=1&s1=1&s2=0&s3=0&s4=0&s5=0&s6=0&s7=0&s8=0&s9=0&s301=1&s302=1&s303=1&s304=1&s305=1&s306=1&s401=1&s402=1&s403=1&s404=1&s601=1&s602=1&s701=1&s702=1&s703=1&s704=1&s705=1&s706=1&s707=1&s708=1&s709=1&s710=1&s711=1&s801=1&s802=1&s803=1&s804=1&s805=1&s901=1&s902=1&s903=1&s904=1&s905=1&ss=&so=0&ds=E&yr=2010 2010 Greenhouse Gas Emissions from Large Facilities], 2010</ref> In 2019, the Washington Clean Energy Transformation Act mandated that all power utilities remove coal from their generation mix, including "coal by wire" from out of state. As of May 2024, PSE has proactively removed coal from its portfolio by choosing not to purchase energy generated from the Colstrip plant.<ref>{{Cite web |title=Grid Status |url=https://www.gridstatus.io/eia/PSEI?date=2024-01-01to2024-05-28 |access-date=2024-05-30 |website=www.gridstatus.io |language=en}}</ref> It intends to sell its 25% stake in the Colstrip plant, but plans to do so have repeatedly fallen through.<ref>{{Cite web |last=Ernst |first=Steve |date=2024-05-10 |title=PSE Deal to Unload Last Shares of Colstrip Collapses |url=https://www.newsdata.com/clearing_up/pse-deal-to-unload-last-shares-of-colstrip-collapses/article_74b2ca88-0e31-11ef-856f-539c333faadf.html |access-date=2024-05-30 |website=NewsData, LLC |language=en}}</ref>


Hydroelectricity generates 33% of PSE’s power supply.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report]</ref> The company operates these hydroelectric facilities:
Hydroelectricity generated 31% of PSE's power supply in 2016.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report] {{webarchive|url=https://web.archive.org/web/20130620193831/http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf |date=2013-06-20 }}</ref> The company operates three hydroelectric facilities:


* The [http://pse.com/inyourcommunity/skagit/Pages/Baker-River-Hydro-Project.aspx Baker River Hydroelectric Project] on the [[Baker River (Washington)|Baker River]], a tributary of the Skagit River in Skagit County. There are two dams on the river, [[Upper Baker Dam]] and [[Lower Baker Dam]], generating 170&nbsp;MW of electricity.
* The Baker River Hydroelectric Project on the [[Baker River (Washington)|Baker River]], generating 170&nbsp;MW of electricity.
* Two power plants at [http://pse.com/inyourcommunity/king/Pages/Snoqualmie-Falls.aspx Snoqualmie Falls Hydroelectric Project], on the [[Snoqualmie River]] in King County. The generating capacity of these two power plants, currently 44&nbsp;MW, will increase to 54&nbsp;MW following the completion of the [http://pse.com/inyourcommunity/king/ConstructionProjects/Pages/Snoqualmie-Falls-Hydroelectric-Project-Upgrade.aspx Snoqualmie Falls redevelopment project] currently underway.
* [[Snoqualmie Falls Hydroelectric Plant]], two power plants on the [[Snoqualmie River]] in King County, generating 44&nbsp;MW.
* The [http://pse.com/inyourcommunity/pierce/Pages/Electron-Hydro.aspx Electron Hydroelectric Project] on the [[Puyallup River]] in Pierce County generates 22&nbsp;MW of electricity.
* The [[Electron Hydroelectric Project]] on the [[Puyallup River]] in Pierce County generates 22&nbsp;MW of electricity.<ref>[http://pse.com/inyourcommunity/pierce/Pages/Electron-Hydro.aspx Electron Hydroelectric Project] {{webarchive|url=https://web.archive.org/web/20121117192858/http://pse.com/inyourcommunity/pierce/Pages/Electron-Hydro.aspx |date=2012-11-17 }}, Puget Sound Energy</ref>


Natural gas-fired power generation accounts for 29% of the utility’s electricity fuel mix.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report]</ref> The company operates these natural gas-fired facilities:
Natural gas-fired power generation accounted for 22% of the utility's electricity fuel mix in 2016.<ref name=":0" /> The company operates these natural gas-fired facilities:


* The Sumas Generating Station in Whatcom County is a cogeneration natural gas–fired plant capable of generating 125&nbsp;MW of electricity.
* The Sumas Generating Station in Whatcom County is a cogeneration natural gas-fired plant capable of generating 125&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_065_wb_Sumas_dcg.pdf|title=Sumas Generating Station|website=Puget Sound Energy}}</ref>
* The Encogen Generating Station in Whatcom County is a combined-cycle natural gas-fired plant capable of generating 167&nbsp;MW of electricity.
* The Ferndale Generating Station in Whatcom County is a combined-cycle natural gas-fired plant capable of generating 270&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_097_wb_Ferndale_dcg.pdf|title=Ferndale Generating Station|website=Puget Sound Energy}}</ref>
* The [http://pse.com/inyourcommunity/southernwashington/Pages/Goldendale.aspx Goldendale Generating Station] in Klickitat County is a combined-cycle natural gas-fired plant capable of generating 277&nbsp;MW of electricity.
* The Encogen Generating Station in Whatcom County is a combined-cycle natural gas-fired plant capable of generating 167&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_055_wb_Encogen_dcg.pdf|title=Encogen Generating Station|website=Puget Sound Energy}}</ref>
* The [http://pse.com/inyourcommunity/southernwashington/Pages/Mint-Farm.aspx Mint Farm Generating Station] in Cowlitz County is a combined-cycle natural-gas-fired plant capable of generating 310&nbsp;MW of electricity.
* The Goldendale Generating Station in Klickitat County is a combined-cycle natural gas-fired plant capable of generating 277&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_066_wb_Goldendale_dcg.pdf|title=Goldendale Generating Station|website=Puget Sound Energy}}</ref>
* The Fredonia Generating Station in Skagit County is a simple-cycle natural gas-fired plant capable of generating 314&nbsp;MW of electricity.
* The Mint Farm Generating Station in Cowlitz County is a combined-cycle natural-gas-fired plant capable of generating 310&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_053_wb_Mint-Farm_dcg.pdf|title=Mint Farm Generating Station|website=Puget Sound Energy}}</ref>
* The Frederickson Generating Station in Pierce County is a simple-cycle natural gas-fired plant capable of generating 147&nbsp;MW of electricity; the nearby Frederickson 1 Generating Station is a combined-cycle natural gas-fired plant capable of generating 137&nbsp;MW of electricity.
* The Fredonia Generating Station in Skagit County is a simple-cycle natural gas-fired plant capable of generating 316&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_047_wb_Fredonia_dcg.pdf|title=Fredonia Generating Station|website=Puget Sound Energy}}</ref>
* The Whitehorn Generating Station in Whatcom County is a simple-cycle natural gas-fired plant capable of generating 147&nbsp;MW of electricity.
* The Frederickson Generating Station in Pierce County is a simple-cycle natural gas-fired plant capable of generating 147&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_067_wb_Frederickson_dcg.pdf|title=Frederickson Generating Stations|website=Puget Sound Energy}}</ref>
* The Frederickson 1 Generating Station in Pierce County is a combined-cycle natural gas-fired plant capable of generating 275&nbsp;MW of electricity. PSE owns a 50% share, or 137&nbsp;MW.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_067_wb_Frederickson_dcg.pdf|title=Frederickson Generating Stations|website=Puget Sound Energy}}</ref>
* The [[Whitehorn Generating Station]] in Whatcom County is a simple-cycle natural gas-fired plant capable of generating 147&nbsp;MW of electricity.


Wind power and other generation sources, such as biomass and [[landfill gas]], account for 1% of the utility’s electricity fuel mix.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report]</ref> PSE is the second-largest utility owner of wind energy facilities in the United States. The company owns and operates these wind-power facilities:
Wind power and other generation sources, such as biomass and [[landfill gas]], account for 1% of the utility's electricity fuel mix.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report] {{webarchive|url=https://web.archive.org/web/20130620193831/http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf |date=2013-06-20 }}</ref> PSE owns and operates these wind-power facilities:


* The [http://pse.com/inyourcommunity/sewashington/Pages/Hopkins-Ridge.aspx Hopkins Ridge Wind Facility] in southeast Washington’s [[Columbia County, Washington|Columbia County]] began commercial production in 2005. Hopkins Ridge’s 87 wind turbines have the capacity to generate 157&nbsp;MW of electricity.
* The Hopkins Ridge Wind Facility in southeast Washington's [[Columbia County, Washington|Columbia County]] began commercial production in 2005. Hopkins Ridge's 87 wind turbines have the capacity to generate 157&nbsp;MW of electricity.
* The [http://pse.com/inyourcommunity/kittitas/Pages/Wild-Horse.aspx Wild Horse Wind and Solar Facility] in central Washington’s Kittitas County began production in 2006 and was expanded to include 22 turbines in 2009. Wild Horse’s 149 wind turbines have the capacity to generate 273&nbsp;MW of electricity.
* The [[Wild Horse Wind Farm|Wild Horse Wind and Solar Facility]] in central Washington's Kittitas County began production in 2006 and was expanded to include 22 turbines in 2009. Wild Horse's 149 wind turbines have the capacity to generate 273&nbsp;MW of electricity.
* In 2012, the first phase of the [http://pse.com/inyourcommunity/sewashington/Pages/Lower-Snake-River.aspx Lower Snake River Wind Project] begins in Southeast Washington's Garfield County. Lower Snaker River Phase 1's 149 turbines have the capacity to generate 343&nbsp;MW of electricity.
* In 2012, the first phase of the [[Lower Snake River Wind Project]] began in Southeast Washington's Garfield County. Lower Snaker River Phase 1's 149 turbines have the capacity to generate 343&nbsp;MW of electricity.


Coal-fired power is a major contributor to PSe's fuel mix at 36% of PSE's 2018 [[electricity generation]] sources, the largest share in 2018. The company owns a stake of the Colstrip Unit 3 coal power plant in eastern Montana.<ref>{{cite web | url=https://www.pse.com/pages/energy-supply/thermal-power | title= Thermal Power}}</ref>
Wild Horse also includes the region’s largest utility-owned solar array, a 500-kilowatt demonstration project (0.01% of total PSE generating capacity), and the [http://pse.com/aboutpse/ToursandRecreation/WildHorse/Pages/default.aspx Renewable Energy Center], which is open to visitors from April through November.


A [[net metering]] program allows residential and business customers to return extra renewable energy solar power to the grid. An additional approximately 1% per year of generation comes from—or actually is reduced by—state mandated [[I-937]] energy efficiency programs, adding an average 25 additional "[[Negawatts]]" generation capacity per year.
Due to fluctuating wind speeds, actual wind generation averages about one third of these stated "nameplate" capacities. Much of this wind generation capacity is currently under contract to Californian utilities. Washington State's [[I-937]] law phases in the requirement that large utilities obtain at least some of their electricity from new renewable resources such as solar and wind (but excluding hydro) with incremental steps of 3% by 2012 and 9% by 2016 and 15% by 2020. As these requirements kick in PSE will retain more of this "green electricity" within their system. However, while I-937 requires a utility to generate at least three percent of its load from renewables by January 1, 2012, and to publicly report these renewables, [http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf Puget Sound Energy's I-937 Report] shows 0% of Puget Sound Energy's power as coming from renewables.


For its natural gas service to customers, PSE purchases a portfolio of natural gas supplies originating in western Canada and the U.S. Rocky Mountain states.
Within the PSE region more than 1,000 residential and business customers have installed small-scale, customer-owned renewable energy projects including solar and wind projects. Customers with solar projects are generating at least part of their electric needs through their solar array. A [http://pse.com/savingsandenergycenter/Renewables/Pages/Net-Metering.aspx net-metering program] allows these customers to return extra solar power to the grid, draw power when the customer needs more than is generated, with the metering program calculating the difference.

Washington State law [http://apps.leg.wa.gov/rcw/default.aspx?cite=19.29A.090 RCW 19.29A.090] requires electric utilities to offer their customers renewable "green" power options. Customers can voluntarily support biomass generation with the utility’s [http://pse.com/savingsandenergycenter/GreenPower/Pages/About-the-Program.aspx Green Power Program], supporting “dairy digester” power-generating projects in Whatcom and Skagit counties, as well those involving the use of wood and paper manufacturing by-products and methane extracted from area landfills. This voluntary customer choice to purchase "green electricity" costs the customer about an additional 10% on their utility bill.

An additional approximately 1% per year of generation comes from—or actually is reduced by—state mandated [[I-937]] energy efficiency programs, adding an average 25 additional "[[Negawatts]]" generation capacity per year. Since 1978 the program has recorded 363 cumulative average negawatts on incentives paid of $650 million—representing an attractive (virtual) resource acquisition at less that $2 a watt. These [http://pse.com/savingsandenergycenter/Pages/default.aspx energy savings programs] work by PSE offering (typically partial) financial incentives for customers to voluntarily choose to install more energy efficient products. These incentive costs in turn are charged back to all customers, whether or not they choose to use these incentives. PSE is required, and limited-to, incentive programs that in the end cost all customers less money than if PSE were to install the otherwise required additional generating facilities. Examples of these energy efficiency programs include discounts on CFL and LED light bulbs, additional home insulation and duct sealing, free home energy use evaluations, converting from baseboard electric heating to natural gas or ductless heat pumps, more efficient windows, and flow-reducing shower heads.

For its natural gas service to customers, PSE purchases a portfolio of natural gas supplies originating in western Canada and the U.S. Rocky Mountains states. Most of this natural gas reaches PSE’s customers through a network of underground interstate pipelines and local natural gas mains. On cold winter days, PSE withdraws natural gas supplies from the [http://pse.com/aboutpse/EnergySupply/Pages/Natural-Gas-Storage.aspx Jackson Prairie Natural Gas Storage Facility], which is located near Chehalis, Wash. Jackson Prairie, the Pacific Northwest’s largest underground natural gas storage facility, is operated and co-owned by PSE.


== History ==
== History ==
Through mergers and acquisitions, dozens of small utility companies gradually evolved into today’s Puget Sound Energy. The oldest of these – the Seattle Gas Light Company – introduced Washington Territory to manufactured-gas lighting on New Year’s Eve, 1873. A dozen years later, another PSE ancestor – the Seattle Electric Light Company – gave the region its first electric service from a central power plant. Yet another of PSE’s predecessor companies, the Snoqualmie Falls Power Company, built the region’s first large hydroelectric plant—the first ever to have completely underground generators, at Snoqualmie Falls, in 1898.


PSE was formed in 1997 when two of its largest ancestral companies – Puget Sound Power & Light Company and Washington Energy Company – merged.<ref>{{cite news |title=Puget Sound-Washington Energy Merger Approved |url=https://www.nytimes.com/1997/02/06/business/puget-sound-washington-energy-merger-approved.html |access-date=March 16, 2024 |work=[[The New York Times]] |agency=[[Bloomberg News]] |date=February 6, 1997}}</ref> Puget Sound Power and Light was itself preceded by several companies that were founded in the 1870s and 1880s and built the region's first [[hydroelectric plant]] at [[Snoqualmie Falls]] in 1898.<ref>{{cite web |title=Our history |url=https://www.pse.com/en/about-us/our-history |publisher=Puget Sound Energy |accessdate=July 11, 2024}}</ref> Puget Sound Power had attempted a merger with [[Washington Water Power]] in 1952, but it was blocked by a [[superior court]] judge.<ref>{{cite news |title=Court Bans Puget Sound Power Sale |work=The Seattle Times |date=October 25, 1952 |page=3}}</ref>
PSE was formed in 1997 when two of its largest ancestral companies – Puget Sound Power & Light Company and Washington Energy Company – merged.


In October 2007, the company announced that it would be sold to foreign investors led by [[Macquarie Group]], an Australian funds manager, and three Canadian [[pension fund]]s.<ref>{{cite news |last=DeSilver |first=Drew |date=October 26, 2007 |title=PSE, state's largest utility, to be acquired |url=https://www.seattletimes.com/seattle-news/pse-states-largest-utility-to-be-acquired/ |work=The Seattle Times |accessdate=July 11, 2024}}</ref> Groups in three northwestern counties—Island, Jefferson, and Skagit—filed [[ballot measure]]s for the November 2008 election to establish [[public utility district]]s in response to the planned buyout.<ref>{{cite news |last=González |first=Ángel |date=November 5, 2008 |title=Jefferson County favors independence from Puget Energy |url=https://www.seattletimes.com/business/jefferson-county-favors-independence-from-puget-energy/ |work=The Seattle Times |accessdate=July 11, 2024}}</ref> The measure was approved in Jefferson County, which formed a public utility district in 2013 and paid PSE $103&nbsp;million for its assets in the county.<ref>{{cite news |last=Wilson |first=Scott |date=April 14, 2023 |title=Public power vote in 2008 set up PUD's 10th anniversary in 2023 |url=https://www.ptleader.com/stories/public-power-vote-in-2008-set-up-puds-10th-anniversary-in-2023,115666 |work=The Leader |url-access=limited |accessdate=July 11, 2024}}</ref>
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In 2009 [http://www.thenewstribune.com/2008/12/31/581321/puget-sound-energy-sold-to-foreign.html Puget Sound Energy was sold] to foreign investors, [http://www.macquarie.com Macquarie Group], in a leveraged private equity buyout. Puget Holdings, the US title of this group of long-term infrastructure investors, merged with Puget Energy, PSE’s parent company to form the current business structure. Puget Energy is a holding company incorporated in the State of Washington. All of its operations are conducted through its utility subsidiary, PSE, which is regulated by [http://www.utc.wa.gov Washington State’s Utilities and Transportation Commission].


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The sale to Macquarie and the pension funds, conducted through a leveraged private equity buyout, was approved in 2009.<ref>{{cite web |url=http://www.thenewstribune.com/2008/12/31/581321/puget-sound-energy-sold-to-foreign.html |title=Puget Sound Energy sold to foreign investors &#124; MORE TOP BIZ - the News Tribune |access-date=2012-06-02 |url-status=dead |archive-url=https://archive.today/20130204065221/http://www.thenewstribune.com/2008/12/31/581321/puget-sound-energy-sold-to-foreign.html |archive-date=2013-02-04 }}</ref> Puget Holdings, the U.S. title of this group of long-term infrastructure investors, merged with Puget Energy, PSE's parent company to form the current business structure. Puget Energy is a holding company incorporated in the State of Washington. All of its operations are conducted through its utility subsidiary, PSE, which is regulated by [[Washington Utilities and Transportation Commission]].
== Rates and emissions ==
[http://www.utc.wa.gov/aboutUs/Lists/News/DispForm.aspx?ID=142 Puget Sound Energy rates] show a typical residential electrical bill (at 1000 kwh per month) of $102.56 and
typical a gas bill (at 68 therms per month) of $86.
This compares somewhat higher than [http://205.254.135.7/state/state-energy-profiles-data.cfm?sid=WA#Prices EIA reported Washington State average prices] (at 1000 kwh and 68 therms) of $83 per month electrical and $80 per month gas, but somewhat lower than national household averages of $115 electrical and higher than national gas averages of $64.


In 2018, Macquarie sold its ownership stake in PSE. PSE's current owners are [[Alberta Investment Management Corporation]], [[British Columbia Investment Management Corporation]], [[OMERS]], and [[PGGM]].<ref>{{Cite web| title = OMERS, PGGM Acquire Puget Sound Stake from Macquarie| access-date = 2018-12-02| url = https://www.ai-cio.com/news/omers-pggm-acquire-puget-sound-stake-macquarie/}}</ref>
PSE reports 2010 household emissions (per household at 1000 kwh per month) of 1500 pounds CO2, comparing somewhat higher than EIA reported average US electricity monthly average household emissions (at 1000 kwh per month) of 1300 pounds CO2, and much higher than Washington State averages of 360 pounds CO2, and much higher than the neighboring utilities' emissions from Seattle City Light of 0 pounds CO2 [net] and Tacoma Power of 62 pounds CO2.


The PSE began construction on the controversial [[Energize Eastside]] power line project in 2020.
== Regulatory environment ==
While a private business, PSE's activities are heavily regulated directly, and indirectly, formally and informally, by a large number of governmental and non-governmental entities intending that PSE "play fair" with ratepayers and other interconnected utilities. The company is required to operate in a "safe and sane" manner such that their facilities and transmission lines do not endanger human life and safety. They are also required to operate at the "lowest reasonable cost" where "lowest reasonable cost" is defined in [http://apps.leg.wa.gov/wac/default.aspx?cite=480-100-238 law] to include resource cost, market-volatility risks, demand-side resource uncertainties, resource dispatchability, resource effect on system operation, the risks imposed on ratepayers, public policies regarding resource preference adopted by Washington state or the federal government and the cost of risks associated with environmental effects including emissions of carbon dioxide. This "lowest reasonable cost" must be consider from the point of view of both PSE and of their ratepayers. New power plants are required by [[I-937]] to be at least as clean as a natural gas turbine plant, and incremental amounts of non-hydro renewable energy generation must be added resulting in 15% by 2020.


=== Clean Energy Transformation Act ===
The primary regulator of PSE is [http://www.utc.wa.gov/Pages/default.aspx Washington Utility and Transportation Commission] who effectively permits or denies PSE actions including rate changes, new facilities built, and old facilities surplused. Additional federal regulation of transmission and sales is added by [http://www.nerc.com NERC] and [http://www.ferc.gov FERC]. [http://www.bpa.gov BPA] controls integration of PSE wind power facilities within BPA's area, including forcing shutdown of those wind turbines during spring high water events, when there is more electricity than consumers who want it -- [http://www.bpa.gov/corporate/AgencyTopics/ColumbiaRiverHighWaterMgmnt Oversupply]—and where BPA prefers to generate power from their hydroelectric dams. BPA control interacts with [http://www.nwcouncil.org Northwest Power and Conservation Council] control over BPA, which sets regional goals for conservation (salmon recovery) and long-term planning, and in turn non-profit public interest and environmental groups including [http://www.nwenergy.org Northwest Energy Coalition] and [http://www.sierraclub.org Sierra Club] weigh in to represent their view of the general public's (ratepayer's) interests.
In 2019, Governor Jay Inslee signed the Clean Energy Transformation Act into law, requiring that all utilities phase out coal power by 2025, be carbon neutral by 2030 and be carbon free by 2045. All investor owned utilities, including PSE, are required to create a Clean Energy Implementation Plan (CEIP) every four years starting in 2022. In PSE's first CEIP, they set a goal to achieve 63% renewable energy by 2025.<ref>{{Cite web |title=PSE {{!}} CEIP Process |url=https://www.cleanenergyplan.pse.com/ceip-library |access-date=2024-05-30 |website=www.cleanenergyplan.pse.com |language=en}}</ref>


== Controversies ==
== Rates and emissions ==
Puget Sound Energy rates show a typical residential electrical bill (at 1000 [[Kilowatt-hour|kWh]] per month) of $102.56 and typical a gas bill (at 68 therms per month) of $86.<ref>{{cite web |url=http://www.utc.wa.gov/aboutUs/Lists/News/DispForm.aspx?ID=142 |title=News - Puget Sound Energy electric and natural gas... |website=www.utc.wa.gov |url-status=dead |archive-url=https://web.archive.org/web/20120511235331/http://www.utc.wa.gov/aboutUs/Lists/News/DispForm.aspx?ID=142 |archive-date=2012-05-11}} </ref> In 2018, PSE reported total carbon-dioxide-equivalent emissions of 10,512,364 metric tons due to electricity operations and 4,989,403 metric tons due to natural gas operations, which equate to 9 and 6 metric tons per customer respectively. PSE figures emissions of 0.169 metric tons per user according to EPA GHG MRR Subpart DD.<ref>{{cite web | url= https://www.pse.com/-/media/PDFs/GHG_Inventory_2018.pdf | title= 2018 Greenhouse Inventory}}</ref>
Areas of controversy within PSE's operations include the following. PSE acknowledges the reality of global warming but has stated that they will not change operations until the Federal Government implements a carbon tax, even though [http://apps.leg.wa.gov/wac/default.aspx?cite=480-100-238 state law] requires PSE to incorporate the costs of environmental carbon damages when evaluating the "lowest cost" mix of facilities used to generate power, and state law requires "safe and sane" operation. PSE continues to operate a coal-power plant, stating they have no plans to close that plant, while other Pacific Northwest utilities are phasing out and closing down their coal power plants. The cost-effectiveness of this plant in the face of increasing regulatory requirements, including potentially selective catalytic reduction, is being questioned by IRP (Integrated Resource Plan) participants, but PSE refuses to perform the required IRP public accountability of this plant, cited confidentiality. Many customers complain of frequent and long-duration power outages after wind storms. WUTC, the Washington State regulating commission, has taken action against PSE for failing to adequately implement their energy efficiency program. When PSE was sold into private ownership [http://wutc.wa.gov/webimage.nsf/0/282DEDF46BFA989B8825753000005D8F a WUTC commissioner and public counsel questioned] whether the new owners were adequately funded to meet regulator requirements, and whether or not the company would remain transparent-enough to allow adequate public regulation. Customers can comment on PSE actions at the state-required bi-annual Integrated Resource Plan's [http://pse.com/aboutpse/EnergySupply/Pages/Resource-Planning.aspx IRP Planning Group].


== References ==
== References ==
{{Commons category}}
{{reflist}}
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{{Puget Sound Energy}}
{{Seattle Corporations}}
{{Seattle Corporations}}


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[[Category:Companies based in Washington (state)]]

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[[Category:Puget Sound Energy| ]]
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[[Category:Electric power companies of the United States]]
[[Category:Public utilities of the United States]]
[[Category:Hydroelectric power companies of the United States]]
[[Category:Natural gas companies of the United States]]
[[Category:Companies based in Bellevue, Washington]]
[[Category:Companies based in Bellevue, Washington]]
[[Category:Power companies of the United States]]
[[Category:American companies established in 1997]]
[[Category:Natural gas companies of the United States]]
[[Category:Public utilities established in 1997]]
[[Category:Companies established in 1873]]
[[Category:1997 establishments in Washington (state)]]
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[[Category:Hydroelectric power companies of the United States]]

Latest revision as of 03:45, 16 July 2024

Puget Sound Energy, Inc.
Company typePrivate
IndustryEnergy, utility
Founded1997; 27 years ago (1997), in Seattle, Washington, U.S.
Headquarters
Bellevue, Washington, U.S.
Key people
Mary E. Kipp (president and CEO)
ProductsElectricity and natural gas
Revenue$3.35 billion (2023)[1]
OwnerAIMCo, BCI, OMERS, and PGGM
Number of employees
3,300[2] (2023)
Websitepse.com

Puget Sound Energy, Inc.[3] (PSE) is an energy utility company based in the U.S. state of Washington that provides electrical power and natural gas to the Puget Sound region. The utility serves electricity to more than 1.2 million customers in Island, King, Kitsap, Kittitas, Pierce, Skagit, Thurston, and Whatcom counties,[2] and provides natural gas to 877,000 customers[1] in King, Kittitas, Lewis, Pierce, Snohomish and Thurston counties. The company's electric and natural gas service area spans 6,000 square miles (16,000 km2).[2]

Facilities

[edit]

PSE's electric supplies include utility-owned resources as well as those under long-term contract, for a total capacity of 5,044 megawatts (MW). While PSE-owned generating capacity is at 3,597 MW.[4]

PSE owns coal, hydroelectric, natural gas and wind power-generating facilities, with more than 3,500 MW of capacity. In 2018, PSE's generation was 36% coal, 32% hydroelectric, 20% natural gas, and 10% wind derived. Less than one percent originated from other energy efficiency programs.[5]

Coal accounted for 36% of PSE's electricity fuel mix in 2018.[5] PSE's partial ownership of Eastern Montana's Colstrip Generating Station represents the single largest power-generating facility PSE owns, approximately 700 MW of generating capacity. In 2010, the Colstrip Generating station was the 8th largest greenhouse gas emitter among power plants in the United States.[6] In 2019, the Washington Clean Energy Transformation Act mandated that all power utilities remove coal from their generation mix, including "coal by wire" from out of state. As of May 2024, PSE has proactively removed coal from its portfolio by choosing not to purchase energy generated from the Colstrip plant.[7] It intends to sell its 25% stake in the Colstrip plant, but plans to do so have repeatedly fallen through.[8]

Hydroelectricity generated 31% of PSE's power supply in 2016.[9] The company operates three hydroelectric facilities:

Natural gas-fired power generation accounted for 22% of the utility's electricity fuel mix in 2016.[5] The company operates these natural gas-fired facilities:

  • The Sumas Generating Station in Whatcom County is a cogeneration natural gas-fired plant capable of generating 125 MW of electricity.[11]
  • The Ferndale Generating Station in Whatcom County is a combined-cycle natural gas-fired plant capable of generating 270 MW of electricity.[12]
  • The Encogen Generating Station in Whatcom County is a combined-cycle natural gas-fired plant capable of generating 167 MW of electricity.[13]
  • The Goldendale Generating Station in Klickitat County is a combined-cycle natural gas-fired plant capable of generating 277 MW of electricity.[14]
  • The Mint Farm Generating Station in Cowlitz County is a combined-cycle natural-gas-fired plant capable of generating 310 MW of electricity.[15]
  • The Fredonia Generating Station in Skagit County is a simple-cycle natural gas-fired plant capable of generating 316 MW of electricity.[16]
  • The Frederickson Generating Station in Pierce County is a simple-cycle natural gas-fired plant capable of generating 147 MW of electricity.[17]
  • The Frederickson 1 Generating Station in Pierce County is a combined-cycle natural gas-fired plant capable of generating 275 MW of electricity. PSE owns a 50% share, or 137 MW.[18]
  • The Whitehorn Generating Station in Whatcom County is a simple-cycle natural gas-fired plant capable of generating 147 MW of electricity.

Wind power and other generation sources, such as biomass and landfill gas, account for 1% of the utility's electricity fuel mix.[19] PSE owns and operates these wind-power facilities:

  • The Hopkins Ridge Wind Facility in southeast Washington's Columbia County began commercial production in 2005. Hopkins Ridge's 87 wind turbines have the capacity to generate 157 MW of electricity.
  • The Wild Horse Wind and Solar Facility in central Washington's Kittitas County began production in 2006 and was expanded to include 22 turbines in 2009. Wild Horse's 149 wind turbines have the capacity to generate 273 MW of electricity.
  • In 2012, the first phase of the Lower Snake River Wind Project began in Southeast Washington's Garfield County. Lower Snaker River Phase 1's 149 turbines have the capacity to generate 343 MW of electricity.

Coal-fired power is a major contributor to PSe's fuel mix at 36% of PSE's 2018 electricity generation sources, the largest share in 2018. The company owns a stake of the Colstrip Unit 3 coal power plant in eastern Montana.[20]

A net metering program allows residential and business customers to return extra renewable energy solar power to the grid. An additional approximately 1% per year of generation comes from—or actually is reduced by—state mandated I-937 energy efficiency programs, adding an average 25 additional "Negawatts" generation capacity per year.

For its natural gas service to customers, PSE purchases a portfolio of natural gas supplies originating in western Canada and the U.S. Rocky Mountain states.

History

[edit]

PSE was formed in 1997 when two of its largest ancestral companies – Puget Sound Power & Light Company and Washington Energy Company – merged.[21] Puget Sound Power and Light was itself preceded by several companies that were founded in the 1870s and 1880s and built the region's first hydroelectric plant at Snoqualmie Falls in 1898.[22] Puget Sound Power had attempted a merger with Washington Water Power in 1952, but it was blocked by a superior court judge.[23]

In October 2007, the company announced that it would be sold to foreign investors led by Macquarie Group, an Australian funds manager, and three Canadian pension funds.[24] Groups in three northwestern counties—Island, Jefferson, and Skagit—filed ballot measures for the November 2008 election to establish public utility districts in response to the planned buyout.[25] The measure was approved in Jefferson County, which formed a public utility district in 2013 and paid PSE $103 million for its assets in the county.[26]

The sale to Macquarie and the pension funds, conducted through a leveraged private equity buyout, was approved in 2009.[27] Puget Holdings, the U.S. title of this group of long-term infrastructure investors, merged with Puget Energy, PSE's parent company to form the current business structure. Puget Energy is a holding company incorporated in the State of Washington. All of its operations are conducted through its utility subsidiary, PSE, which is regulated by Washington Utilities and Transportation Commission.

In 2018, Macquarie sold its ownership stake in PSE. PSE's current owners are Alberta Investment Management Corporation, British Columbia Investment Management Corporation, OMERS, and PGGM.[28]

The PSE began construction on the controversial Energize Eastside power line project in 2020.

Clean Energy Transformation Act

[edit]

In 2019, Governor Jay Inslee signed the Clean Energy Transformation Act into law, requiring that all utilities phase out coal power by 2025, be carbon neutral by 2030 and be carbon free by 2045. All investor owned utilities, including PSE, are required to create a Clean Energy Implementation Plan (CEIP) every four years starting in 2022. In PSE's first CEIP, they set a goal to achieve 63% renewable energy by 2025.[29]

Rates and emissions

[edit]

Puget Sound Energy rates show a typical residential electrical bill (at 1000 kWh per month) of $102.56 and typical a gas bill (at 68 therms per month) of $86.[30] In 2018, PSE reported total carbon-dioxide-equivalent emissions of 10,512,364 metric tons due to electricity operations and 4,989,403 metric tons due to natural gas operations, which equate to 9 and 6 metric tons per customer respectively. PSE figures emissions of 0.169 metric tons per user according to EPA GHG MRR Subpart DD.[31]

References

[edit]
Wikimedia Commons has media related to Puget Sound Energy.
  1. ^ a b "Puget Sound Energy, Inc. Form 10-K: Annual Report For the Fiscal Year Ended December 31, 2023". U.S. Securities and Exchange Commission. March 5, 2024. Retrieved July 11, 2024.
  2. ^ a b c "About us". Puget Sound Energy. Retrieved July 11, 2024.
  3. ^ "Corporations and Charities System". ccfs.sos.wa.gov. Retrieved 2024-07-16.
  4. ^ Factsheet, About PSE
  5. ^ a b c "Electricity Supply". pse.com. Retrieved 2020-08-30.
  6. ^ U.S. EPA ghgdata, 2010 Greenhouse Gas Emissions from Large Facilities, 2010
  7. ^ "Grid Status". www.gridstatus.io. Retrieved 2024-05-30.
  8. ^ Ernst, Steve (2024-05-10). "PSE Deal to Unload Last Shares of Colstrip Collapses". NewsData, LLC. Retrieved 2024-05-30.
  9. ^ State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report Archived 2013-06-20 at the Wayback Machine
  10. ^ Electron Hydroelectric Project Archived 2012-11-17 at the Wayback Machine, Puget Sound Energy
  11. ^ "Sumas Generating Station" (PDF). Puget Sound Energy.
  12. ^ "Ferndale Generating Station" (PDF). Puget Sound Energy.
  13. ^ "Encogen Generating Station" (PDF). Puget Sound Energy.
  14. ^ "Goldendale Generating Station" (PDF). Puget Sound Energy.
  15. ^ "Mint Farm Generating Station" (PDF). Puget Sound Energy.
  16. ^ "Fredonia Generating Station" (PDF). Puget Sound Energy.
  17. ^ "Frederickson Generating Stations" (PDF). Puget Sound Energy.
  18. ^ "Frederickson Generating Stations" (PDF). Puget Sound Energy.
  19. ^ State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report Archived 2013-06-20 at the Wayback Machine
  20. ^ "Thermal Power".
  21. ^ "Puget Sound-Washington Energy Merger Approved". The New York Times. Bloomberg News. February 6, 1997. Retrieved March 16, 2024.
  22. ^ "Our history". Puget Sound Energy. Retrieved July 11, 2024.
  23. ^ "Court Bans Puget Sound Power Sale". The Seattle Times. October 25, 1952. p. 3.
  24. ^ DeSilver, Drew (October 26, 2007). "PSE, state's largest utility, to be acquired". The Seattle Times. Retrieved July 11, 2024.
  25. ^ González, Ángel (November 5, 2008). "Jefferson County favors independence from Puget Energy". The Seattle Times. Retrieved July 11, 2024.
  26. ^ Wilson, Scott (April 14, 2023). "Public power vote in 2008 set up PUD's 10th anniversary in 2023". The Leader. Retrieved July 11, 2024.
  27. ^ "Puget Sound Energy sold to foreign investors | MORE TOP BIZ - the News Tribune". Archived from the original on 2013-02-04. Retrieved 2012-06-02.
  28. ^ "OMERS, PGGM Acquire Puget Sound Stake from Macquarie". Retrieved 2018-12-02.
  29. ^ "PSE | CEIP Process". www.cleanenergyplan.pse.com. Retrieved 2024-05-30.
  30. ^ "News - Puget Sound Energy electric and natural gas..." www.utc.wa.gov. Archived from the original on 2012-05-11.
  31. ^ "2018 Greenhouse Inventory" (PDF).
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