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August 29, 2015 10:37 AM ET

Multi-Utilities

Company Overview of Puget Energy Inc.

Company Overview

Puget Energy, Inc., through its subsidiary, Puget Sound Energy, Inc., operates as a regulated electric and natural gas utility company. It engages in the generation, transmission, and distribution of electricity; and natural gas distribution. The company produces electricity through coal, natural gas combined cycle and co-generation, wind, and hydroelectric resources. It sells electric and natural gas services to residential and commercial customers in a service territory covering approximately 6,000 square miles, primarily in the Puget Sound region of the state of Washington. The company was founded in 1912 and is headquartered in Bellevue, Washington. Puget Energy, Inc. operates as a subsi...

10885 NE 4th Street

Suite 1200

Bellevue, WA 98004

United States

Founded in 1912

2,700 Employees

Phone:

425-454-6363

Key Executives for Puget Energy Inc.

Chief Executive Officer, President, Director, Chief Executive Officer of Puget Sound Energy, President of Puget Sound Energy and Director of Puget Sound Energy
Age: 50
Chief Financial Officer, Senior Vice President, Chief Financial Officer of Puget Sound Energy Inc and Senior Vice President of Puget Sound Energy Inc
Age: 57
Chairman of InfrastruX and Chief Executive Officer of InfrastruX
Age: 79
Chief Ethics & Compliance Officer, Senior Vice President and General Counsel
Age: 53
Senior Vice President
Compensation as of Fiscal Year 2015.

Puget 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 Energy, Inc. Enters into Fourth Supplemental Indenture

On May 12, 2015, Puget Energy Inc. entered into a fourth supplemental indenture to the indenture dated as of December 6, 2010, with Wells Fargo Bank, National Association, as trustee, pursuant to which the company issued $400 million principal amount of 3.650% senior secured notes due 2025 (Notes). The Notes mature on May 15, 2025, and accrue interest at 3.650% per annum, payable semiannually in arrears on May 15 and November 15 of each year, commencing on November 15, 2015. The Notes are secured by substantially all of the company’s assets, which consists primarily of the equity interests it holds in its wholly owned subsidiary, Puget Sound Energy Inc., and will rank pari passu in right of payment, to the extent of the value of the collateral securing the Notes, with all of the company’s existing and future senior secured indebtedness.

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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