Customers oppose Puget Sound Energy sale, rate increase
OLYMPIA — State regulators held the last of three public hearings on the proposal to sell Puget Sound Energy to foreign investors and raise rates.
OLYMPIA — State regulators held the last of three public hearings on the proposals to sell Puget Sound Energy to foreign investors and raise rates.
At the Wednesday night hearing in Olympia, 51 people told the Utilities and Transportation Commission that the sale and rate increase are a bad deal for customers.
The Bellevue-based utility is seeking a 12 percent increase in electrical rates and 6 percent for natural gas.
Puget Sound Energy has asked the commission to approve the $7.4 billion sale to Canadian and Australian investors by September. The commission will make a final decision in November on the rates.
PSE has more than 1 million electrical customers and about 729,000 natural gas customers, mostly in 11 Western Washington counties.
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