January 28, 2015 2:25 PM ET

Multi-Utilities

Company Overview of Puget Sound Energy Inc.

Company Overview

Puget Sound Energy, Inc., a public utility company, is engaged 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 hydel sources. As of December 31, 2013, 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 4,831 megawatts. It serves residential, industrial, and commercial customers principally in the Puget Sound region, Washington. The company was inco...

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
Age: 49
Chief Financial Officer and Senior Vice President
Age: 56
Vice President of Operations
Chief Administrative Officer and Senior Vice President
Age: 53
Chief Ethics & Compliance Officer
Age: 52
Compensation as of Fiscal Year 2014.

Puget Sound Energy Inc. Key Developments

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

On January 22, 2015, William S. Ayer retired from his position as Chairman of the Board of Directors of each of Puget Energy Inc. and Puget Sound Energy Inc., to be effective immediately. Effective January 22, 2015, the Board of Directors of each of the Companies appointed Melanie J. Dressel as Chairman of the Board of Directors of each of the Companies to replace Mr. Ayer. Also effective January 22, 2015, the sole shareholder of each of the Companies appointed and elected Steven W. Hooper to the Boards of Directors of the Companies. Mr. Hooper will serve on the Audit Committee of each of the Companies. Mr. Hooper is currently the Co-Founder and Partner of Ignition Partners. Prior to founding Ignition Partners, Mr. Hooper was the Co-CEO of Teledesic from 1998 to 2000 and held various leadership positions, including CEO, of Nextlink. Mr. Hooper also currently serves on the boards of directors of Recreational Equipment Inc. and Blucora Inc.

Puget Sound Energy Inc. and Totem Ocean Trailer Express Announces Fuel Supply Agreement

Puget Sound Energy and Totem Ocean Trailer Express announced they have signed a contract for PSE to provide liquefied natural gas (LNG) to fuel Totem Ocean's two Tacoma, Washington-based Orca-class cargo ships. PSE will provide Totem Ocean with fuel for their ships that are being converted from diesel to cleaner-burning LNG. Using LNG will allow Totem Ocean to exceed new, stricter emission standards in the maritime shipping industry. PSE is working to develop a new, LNG production and storage facility at the Port of Tacoma to ensure continued dependable natural gas service for the company's 760,000 residential and commercial natural gas customers by providing additional gas supply during times of peak demand. The facility will also meet the LNG supply needs of Totem Ocean and other potential transportation customers. A property lease with the Port of Tacoma was approved in August 2014 and environmental review of the proposed facility has begun. Construction is expected to take about three years once all agreements are finalized and permits have been obtained.

Puget Sound Energy Wins Approval for Lease to Build LNG Facility in Washington

Puget Sound Energy Inc. has won approval from the Port of Tacoma for a lease to build a $275 million liquefied natural gas, or LNG, facility in Washington. The proposed facility will allow PSE to continue providing dependable, affordable natural gas service to 770,000 residential and commercial natural gas customers in Western Washington during periods of peak demand. It will also provide an opportunity to serve local transportation companies looking to shift from traditional fuel sources to cleaner LNG.

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