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August 29, 2015 5:16 PM ET

Multi-Utilities

Company Overview of Puget Sound Energy Inc.

Company Overview

Puget Sound Energy, Inc., a public utility company, engages in the purchase, generation, transmission, and distribution of electricity primarily in the United States. The company is also involved in the purchase, transportation, sale, and distribution of natural gas. It generates electricity from coal, natural gas, wind, solar, oil, and hydroelectric sources. As of December 31, 2014, the company’s electric power resources, including company-owned or controlled resources, as well as those under long-term contracts had a total capacity of approximately 4,889 megawatts. It serves residential, industrial, commercial, and other customers principally in the Puget Sound region, Washington. The comp...

10885 NE 4th Street

Suite 1200

Bellevue, WA 98004

United States

Founded in 1960

2,700 Employees

Phone:

425-454-6363

Key Executives for Puget Sound Energy Inc.

Chief Executive Officer, President and Director
Age: 50
Chief Financial Officer and Senior Vice President
Age: 57
Vice President of Operations
Chief Administrative Officer and Senior Vice President
Age: 54
Chief Ethics & Compliance Officer, Senior Vice President and General Counsel
Age: 53
Compensation as of Fiscal Year 2015.

Puget Sound Energy Inc. Key Developments

Puget Energy Inc. and Puget Sound Energy Inc. Announce Resignation of Drew Murphy from its Board, Effective August 31, 2015

On August 20, 2015, Drew Murphy tendered his resignation from the Boards of Directors of Puget Energy Inc. and Puget Sound Energy Inc., with such resignation effective on August 31, 2015.

Puget Sound Energy Inc. Announces Board Changes

On June 24, 2015, Herb B. Simon provided notice of his intent to resign from his position as a member of the Board of Directors of Puget Sound Energy Inc. and all of its committees to be effective as of January 21, 2016. Effective June 25, 2015, the Board of Directors of PSE appointed Scott Armstrong to the Board of Directors of PSE. Armstrong is currently the President and Chief Executive Officer of Group Health Cooperative, a not-for-profit health plan serving the state of Washington and northern Idaho, which position he has held since January 2005. Prior to his appointment as President and Chief Executive Officer, Mr. Armstrong also held several other leadership positions at Group Health Cooperative, including Executive Vice President, Chief Operating Officer (from 2002 through 2004) and Executive Vice President, Chief Administrative Officer (from 2000 through 2002). Mr. Armstrong also currently is a Commissioner for the Medicare Payment Advisory Commission, board member of the Alliance of Community Health Plans and a board member of America's Health Insurance Plans in Washington, D.C.

Puget Energy Inc. and Puget Sound Energy Inc. Announce Executive Changes

Effective April 23, 2015, the sole shareholders of Puget Energy Inc. and Puget Sound Energy Inc. (together, the Companies) appointed and elected Paul McMillan to the Boards of Directors of the companies (the Boards). Mr. McMillan was appointed to replace Benjamin Hawkins, who resigned from the Boards effective the same day. Mr. McMillan will serve on the Audit Committee and the Governance and Public Affairs Committee of each of the companies. Mr. McMillan is currently a Principal of Tidal Shift Capital Incorporated, which provides consulting and project development services to energy and infrastructure clients primarily in British Columbia, Ontario and Alberta. Mr. McMillan also currently serves on the board of directors of BluEarth Renewables Inc.

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