August 17, 2017 12:07 PM ET

Multi-Utilities

Company Overview of Puget Sound Energy Inc.

Company Overview

Puget Sound Energy, Inc., a public utility company, engages in the generation, transmission, distribution, purchase, and sale of electricity in the United States. The company is also involved in the purchase, transportation, distribution, and sale of natural gas. It generates electricity from coal, natural gas, wind, oil, and hydroelectric sources. As of December 31, 2016, 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 4,844 megawatts. It serves residential, commercial, industrial, and other customers principally in the Puget Sound region, Washington. The company was inc...

10885 NE 4th Street

Suite 1200

Bellevue, WA 98004

United States

Founded in 1960

3,000 Employees

Phone:

425-454-6363

Key Executives for Puget Sound Energy Inc.

Chief Executive Officer, President and Director
Age: 52
Chief Financial Officer and Senior Vice President
Age: 59
Senior Vice President of Operations
Age: 53
Chief Administrative Officer and Senior Vice President
Age: 56
Chief Ethics & Compliance Officer, Senior Vice President and General Counsel
Age: 55
Compensation as of Fiscal Year 2017.

Puget Sound Energy Inc. Key Developments

Family of an 18-Year-Old Woman Sues Puget Sound Energy

The family of an 18-year-old woman who died while inner-tubing on the Puyallup River says she was electrocuted, and has sued Puget Sound Energy for her death. Madeline "Maddy" Roskie died in 2014, a couple of months after graduating from Bonney Lake High School, while she and her boyfriend were tubing on the river east of Puyallup, according to the complaint. Her father, Earl Roskie, filed the wrongful death suit August 1, 2017 in Pierce County Superior Court, seeking unspecified damages. The suit gives this account of Roskie's death: She and her boyfriend floated a section of the river near the 16100 block of 96th Street East on Aug. 2, and walked back to their starting point to do it again. While they were in the water waiting for another group to go by, Roskie said her legs were going numb, and seconds later lost consciousness. Her boyfriend got her out of the water, and bystanders started CPR and called 911, but she died soon after.

The Utilities and Transportation Commission Approves Settlement Between Microsoft Corp. and Puget Sound Energy

The Utilities and Transportation Commission approved a settlement between Microsoft Corp. and Puget Sound Energy Inc., so that software company can buy its own wholesale energy or build its own generation, providing it pays a one-time exit fee of nearly $23.7 million to PSE. The Utilities and Transportation Commission on July 13 approved the settlement for a special contract in which Microsoft, which is headquartered in Redmond, Wash., has agreed to buy only renewable and carbon free resources. The exit fee and other provisions of the agreement assure that remaining retail customers who continue to rely on PSE for their energy needs will not have to bear additional costs resulting from significant stranded costs that result from Microsoft's departure, the commission said in its order approving the settlement. PSE will pass through Microsoft's one-time payment to its remaining bundled retail customers over 12 months through the utility's power cost adjustment, and Microsoft agreed to maintain its current contributions to PSE's low-income bill assistance program, and provide additional funds for low-income energy efficiency services and renewable energy technology. The settlement did not address whether Microsoft would be responsible for a portion of the costs of decommissioning or accelerated depreciation of PSE's coal-fired electric plants in Colstrip, Mont., in the event those plants are retired. However, the commission agreed that as a long-time PSE customer, Microsoft is responsible for those costs. Commissioner Jay Balasbas issued a separate statement at the bottom of the order to express his view that approval of the agreement should have also been conditioned on Microsoft's acknowledgement of its responsibility for those costs. PSE and Microsoft have entered into a special 20-year contract with automatic five-year extensions that allows Microsoft to take transmission and ancillary services to wheel energy from one or more alternative energy suppliers, the order said. The all-party settlement involved the Industrial Customers of Northwest Utilities and the Northwest & Intermountain Power Producers Coalition. Both organizations have pushed for utility customers to access competitive power supplies. The settlement also included the NW Energy Coalition, which promotes development of renewable energy, energy conservation and consumer protection, and The Energy Project, which encourages energy efficiency and bill assistance for low-income households. The Attorney General's Public Counsel unit and a few large retail companies also endorsed the settlement.

Microsoft and Puget Sound Energy Receive Approval from WUTC for Energy Purchasing Agreement

Microsoft Corp. and Puget Sound Energy (PSE) announced that the Washington Utilities and Transportation Commission (WUTC) has formally approved a new contract that will allow Microsoft to directly purchase clean energy to power its 15 million-square-foot Puget Sound region campus. The terms of the contract stipulate that Microsoft will buy only carbon-free energy; purchase renewables at a level greatly in excess of the Renewable Portfolio Standards percentages established by the Washington Energy Independence Act (I-937), more than doubling that standard in 2021; and take significant actions to protect ratepayers, including payment of a substantial transition fee and ongoing funding for conservation and low-income programs.

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