Editing Puget Sound Energy

{{short description|Energy utility in the U.S. state of Washington}}
{{primary sources|date=March 2019}}
{{Infobox company
| name = Puget Sound Energy, Inc.
| type = [[Privately held company|Private]]
| logo = Puget Sound Energy logo.svg
| industry = [[Energy]], [[Utilities|utility]]
| foundation = {{start date and age|1997}}, in [[Seattle, Washington]], U.S.
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| location_city = [[Bellevue, Washington]], U.S.
| key_people = Mary E. Kipp ([[President (corporate title)|president]] and [[Chief executive officer|CEO]])
| products = [[Electricity]] and [[natural gas]]
| revenue = $3.35 billion (2023)<ref name="SEC">{{cite web |date=March 5, 2024 |title=Puget Sound Energy, Inc. Form 10-K: Annual Report For the Fiscal Year Ended December 31, 2023 |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/81100/000108539224000008/psd-20231231.htm |publisher=[[U.S. Securities and Exchange Commission]] |accessdate=July 11, 2024}}</ref>
| num_employees = 3,300<ref name="About">{{cite web |title=About us |url=https://www.pse.com/en/about-us |publisher=Puget Sound Energy |accessdate=July 11, 2024}}</ref>
| num_employees_year = 2023
| owner = [[Alberta Investment Management Corporation|AIMCo]], [[British Columbia Investment Management Corporation|BCI]], [[OMERS]], and [[PGGM]]
| homepage = {{URL|pse.com}}
}}

'''Puget Sound Energy, Inc.'''<ref>{{Cite web |title=Corporations and Charities System |url=https://ccfs.sos.wa.gov/?_gl=1*15dk50t*_ga*NDc3NDA2NjYyLjE3MjEwNjczNDA.*_ga_7B08VE04WV*MTcyMTEwMDgxMy4yLjEuMTcyMTEwMDgyNi4wLjAuMA..#/BusinessSearch/BusinessInformation |access-date=2024-07-16 |website=ccfs.sos.wa.gov}}</ref> ('''PSE''') is an [[Public utility|energy utility]] company based in the [[U.S. state]] of [[Washington (state)|Washington]] that provides [[electricity|electrical power]] and [[natural gas]] to the [[Puget Sound region]]. The utility serves electricity to more than 1.2 million customers in [[Island County, Washington|Island]], [[King County, Washington|King]], [[Kitsap County, Washington|Kitsap]], [[Kittitas County, Washington|Kittitas]], [[Pierce County, Washington|Pierce]], [[Skagit County, Washington|Skagit]], [[Thurston County, Washington|Thurston]], and [[Whatcom County, Washington|Whatcom]] counties,<ref name="About"/> and provides natural gas to 877,000 customers<ref name="SEC"/> in King, Kittitas, [[Lewis County, Washington|Lewis]], Pierce, [[Snohomish County, Washington|Snohomish]] and Thurston counties. The company's electric and natural gas service area spans {{convert|6,000|sqmi|km2|adj=off}}.<ref name="About"/>

== Facilities ==

PSE's electric supplies include utility-owned resources as well as those under long-term contract, for a total capacity of 5,044 [[megawatts]] (MW), of which 3,597 MW is PSE-owned generating capacity.<ref>[https://pse.com/aboutpse/PseNewsroom/MediaKit/020_About_PSE_web.pdf Factsheet], About PSE</ref>

PSE owns coal, hydroelectric, natural gas and wind power-generating facilities, with more than 3,500&nbsp;MW of capacity. In 2018, PSE's generation was 36% coal, 32% hydroelectric, 20% natural gas, and 10% wind derived. Less than one percent originated from other [[efficient energy use|energy efficiency]] programs.<ref name=":0">{{Cite web|url=https://www.pse.com/pages/energy-supply/electric-supply|title=Electricity Supply|website=pse.com|language=en-us|access-date=2020-08-30}}</ref>

Coal accounted for 36% of PSE's electricity fuel mix in 2018.<ref name=":0" /> PSE's partial ownership of Eastern Montana's [[Colstrip, Montana|Colstrip]] Generating Station represents the single largest power-generating facility PSE owns, approximately 700&nbsp;MW of generating capacity. In 2010, the Colstrip Generating station was the 8th largest greenhouse gas emitter among power plants in the United States.<ref>U.S. EPA ghgdata, [http://ghgdata.epa.gov/ghgp/main.do#/treeSector/?q=Facility%20or%20Location&st=&fid=&lowE=15400000&highE=23000000&&g1=1&g2=1&g3=1&g4=1&g5=1&g6=1&g7=1&s1=1&s2=0&s3=0&s4=0&s5=0&s6=0&s7=0&s8=0&s9=0&s301=1&s302=1&s303=1&s304=1&s305=1&s306=1&s401=1&s402=1&s403=1&s404=1&s601=1&s602=1&s701=1&s702=1&s703=1&s704=1&s705=1&s706=1&s707=1&s708=1&s709=1&s710=1&s711=1&s801=1&s802=1&s803=1&s804=1&s805=1&s901=1&s902=1&s903=1&s904=1&s905=1&ss=&so=0&ds=E&yr=2010 2010 Greenhouse Gas Emissions from Large Facilities], 2010</ref> In 2019, the Washington Clean Energy Transformation Act mandated that all power utilities remove coal from their generation mix, including "coal by wire" from out of state. As of May 2024, PSE has proactively removed coal from its portfolio by choosing not to purchase energy generated from the Colstrip plant.<ref>{{Cite web |title=Grid Status |url=https://www.gridstatus.io/eia/PSEI?date=2024-01-01to2024-05-28 |access-date=2024-05-30 |website=www.gridstatus.io |language=en}}</ref> It intends to sell its 25% stake in the Colstrip plant, but plans to do so have repeatedly fallen through.<ref>{{Cite web |last=Ernst |first=Steve |date=2024-05-10 |title=PSE Deal to Unload Last Shares of Colstrip Collapses |url=https://www.newsdata.com/clearing_up/pse-deal-to-unload-last-shares-of-colstrip-collapses/article_74b2ca88-0e31-11ef-856f-539c333faadf.html |access-date=2024-05-30 |website=NewsData, LLC |language=en}}</ref>

Hydroelectricity generated 31% of PSE's power supply in 2016.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf  State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report] {{webarchive|url=https://web.archive.org/web/20130620193831/http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf |date=2013-06-20 }}</ref> The company operates three hydroelectric facilities:

* The Baker River Hydroelectric Project on the [[Baker River (Washington)|Baker River]], generating 170&nbsp;MW of electricity.
* [[Snoqualmie Falls Hydroelectric Plant]], two power plants on the [[Snoqualmie River]] in King County, generating 44&nbsp;MW.
* The [[Electron Hydroelectric Project]] on the [[Puyallup River]] in Pierce County generates 22&nbsp;MW of electricity.<ref>[http://pse.com/inyourcommunity/pierce/Pages/Electron-Hydro.aspx Electron Hydroelectric Project] {{webarchive|url=https://web.archive.org/web/20121117192858/http://pse.com/inyourcommunity/pierce/Pages/Electron-Hydro.aspx |date=2012-11-17 }}, Puget Sound Energy</ref>

Natural gas-fired power generation accounted for 22% of the utility's electricity fuel mix in 2016.<ref name=":0" /> The company operates these natural gas-fired facilities:

* The Sumas Generating Station in Whatcom County is a cogeneration natural gas-fired plant capable of generating 125&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_065_wb_Sumas_dcg.pdf|title=Sumas Generating Station|website=Puget Sound Energy}}</ref>
* The Ferndale Generating Station in Whatcom County is a combined-cycle natural gas-fired plant capable of generating 270&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_097_wb_Ferndale_dcg.pdf|title=Ferndale Generating Station|website=Puget Sound Energy}}</ref>
* The Encogen Generating Station in Whatcom County is a combined-cycle natural gas-fired plant capable of generating 167&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_055_wb_Encogen_dcg.pdf|title=Encogen Generating Station|website=Puget Sound Energy}}</ref>
* The Goldendale Generating Station in Klickitat County is a combined-cycle natural gas-fired plant capable of generating 277&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_066_wb_Goldendale_dcg.pdf|title=Goldendale Generating Station|website=Puget Sound Energy}}</ref>
* The Mint Farm Generating Station in Cowlitz County is a combined-cycle natural-gas-fired plant capable of generating 310&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_053_wb_Mint-Farm_dcg.pdf|title=Mint Farm Generating Station|website=Puget Sound Energy}}</ref>
* The Fredonia Generating Station in Skagit County is a simple-cycle natural gas-fired plant capable of generating 316&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_047_wb_Fredonia_dcg.pdf|title=Fredonia Generating Station|website=Puget Sound Energy}}</ref>
* The Frederickson Generating Station in Pierce County is a simple-cycle natural gas-fired plant capable of generating 147&nbsp;MW of electricity.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_067_wb_Frederickson_dcg.pdf|title=Frederickson Generating Stations|website=Puget Sound Energy}}</ref> 
* The Frederickson 1 Generating Station in Pierce County is a combined-cycle natural gas-fired plant capable of generating 275&nbsp;MW of electricity.  PSE owns a 50% share, or 137&nbsp;MW.<ref>{{Cite web|url=https://www.pse.com/-/media/PDFs/001-Energy-Supply/007-Thermal-Power/4153_067_wb_Frederickson_dcg.pdf|title=Frederickson Generating Stations|website=Puget Sound Energy}}</ref> 
* The [[Whitehorn Generating Station]] in Whatcom County is a simple-cycle natural gas-fired plant capable of generating 147&nbsp;MW of electricity.

Wind power and other generation sources, such as biomass and [[landfill gas]], account for 1% of the utility's electricity fuel mix.<ref>[http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf  State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report] {{webarchive|url=https://web.archive.org/web/20130620193831/http://www.commerce.wa.gov/Documents/Fuel%20Mix%202010%20compiled%20reports.pdf |date=2013-06-20 }}</ref> PSE owns and operates these wind-power facilities:

* The Hopkins Ridge Wind Facility in southeast Washington's [[Columbia County, Washington|Columbia County]] began commercial production in 2005. Hopkins Ridge's 87 wind turbines have the capacity to generate 157&nbsp;MW of electricity.
* The [[Wild Horse Wind Farm|Wild Horse Wind and Solar Facility]] in central Washington's Kittitas County began production in 2006 and was expanded to include 22 turbines in 2009. Wild Horse's 149 wind turbines have the capacity to generate 273&nbsp;MW of electricity.
* In 2012, the first phase of the [[Lower Snake River Wind Project]] began in Southeast Washington's Garfield County. Lower Snaker River Phase 1's 149 turbines have the capacity to generate 343&nbsp;MW of electricity.

Coal-fired power is a major contributor to PSe's fuel mix at 36% of PSE's 2018 [[electricity generation]] sources, the largest share in 2018. The company owns a stake of the Colstrip Unit 3 coal power plant in eastern Montana.<ref>{{cite web | url=https://www.pse.com/pages/energy-supply/thermal-power | title= Thermal Power}}</ref>

A [[net metering]] program allows residential and business customers to return extra renewable energy solar power to the grid. An additional approximately 1% per year of generation comes from—or actually is reduced by—state mandated [[I-937]] energy efficiency programs, adding an average 25 additional "[[Negawatts]]" generation capacity per year.

For its natural gas service to customers, PSE purchases a portfolio of natural gas supplies originating in western Canada and the U.S. Rocky Mountain states.

== History ==

PSE was formed in 1997 when two of its largest ancestral companies – Puget Sound Power & Light Company and Washington Energy Company – merged.<ref>{{cite news |title=Puget Sound-Washington Energy Merger Approved |url=https://www.nytimes.com/1997/02/06/business/puget-sound-washington-energy-merger-approved.html |access-date=March 16, 2024 |work=[[The New York Times]] |agency=[[Bloomberg News]] |date=February 6, 1997}}</ref> Puget Sound Power and Light was itself preceded by several companies that were founded in the 1870s and 1880s and built the region's first [[hydroelectric plant]] at [[Snoqualmie Falls]] in 1898.<ref>{{cite web |title=Our history |url=https://www.pse.com/en/about-us/our-history |publisher=Puget Sound Energy |accessdate=July 11, 2024}}</ref> Puget Sound Power had attempted a merger with [[Washington Water Power]] in 1952, but it was blocked by a [[superior court]] judge.<ref>{{cite news |title=Court Bans Puget Sound Power Sale |work=The Seattle Times |date=October 25, 1952 |page=3}}</ref>

In October 2007, the company announced that it would be sold to foreign investors led by [[Macquarie Group]], an Australian funds manager, and three Canadian [[pension fund]]s.<ref>{{cite news |last=DeSilver |first=Drew |date=October 26, 2007 |title=PSE, state's largest utility, to be acquired |url=https://www.seattletimes.com/seattle-news/pse-states-largest-utility-to-be-acquired/ |work=The Seattle Times |accessdate=July 11, 2024}}</ref> Groups in three northwestern counties—Island, Jefferson, and Skagit—filed [[ballot measure]]s for the November 2008 election to establish [[public utility district]]s in response to the planned buyout.<ref>{{cite news |last=González |first=Ángel |date=November 5, 2008 |title=Jefferson County favors independence from Puget Energy |url=https://www.seattletimes.com/business/jefferson-county-favors-independence-from-puget-energy/ |work=The Seattle Times |accessdate=July 11, 2024}}</ref> The measure was approved in Jefferson County, which formed a public utility district in 2013 and paid PSE $103&nbsp;million for its assets in the county.<ref>{{cite news |last=Wilson |first=Scott |date=April 14, 2023 |title=Public power vote in 2008 set up PUD's 10th anniversary in 2023 |url=https://www.ptleader.com/stories/public-power-vote-in-2008-set-up-puds-10th-anniversary-in-2023,115666 |work=The Leader |url-access=limited |accessdate=July 11, 2024}}</ref>

The sale to Macquarie and the pension funds, conducted through a leveraged private equity buyout, was approved in 2009.<ref>{{cite web |url=http://www.thenewstribune.com/2008/12/31/581321/puget-sound-energy-sold-to-foreign.html |title=Puget Sound Energy sold to foreign investors &#124; MORE TOP BIZ - the News Tribune |access-date=2012-06-02 |url-status=dead |archive-url=https://archive.today/20130204065221/http://www.thenewstribune.com/2008/12/31/581321/puget-sound-energy-sold-to-foreign.html |archive-date=2013-02-04 }}</ref> Puget Holdings, the U.S. title of this group of long-term infrastructure investors, merged with Puget Energy, PSE's parent company to form the current business structure. Puget Energy is a holding company incorporated in the State of Washington. All of its operations are conducted through its utility subsidiary, PSE, which is regulated by [[Washington Utilities and Transportation Commission]].

In 2018, Macquarie sold its ownership stake in PSE. PSE's current owners are [[Alberta Investment Management Corporation]], [[British Columbia Investment Management Corporation]], [[OMERS]], and [[PGGM]].<ref>{{Cite web| title = OMERS, PGGM Acquire Puget Sound Stake from Macquarie| access-date = 2018-12-02| url = https://www.ai-cio.com/news/omers-pggm-acquire-puget-sound-stake-macquarie/}}</ref>

The PSE began construction on the controversial [[Energize Eastside]] power line project in 2020.

=== Clean Energy Transformation Act ===
In 2019, Governor Jay Inslee signed the Clean Energy Transformation Act into law, requiring that all utilities phase out coal power by 2025, be carbon neutral by 2030 and be carbon free by 2045. All investor owned utilities, including PSE, are required to create a Clean Energy Implementation Plan (CEIP) every four years starting in 2022. In PSE's first CEIP, they set a goal to achieve 63% renewable energy by 2025.<ref>{{Cite web |title=PSE {{!}} CEIP Process |url=https://www.cleanenergyplan.pse.com/ceip-library |access-date=2024-05-30 |website=www.cleanenergyplan.pse.com |language=en}}</ref>

== Rates and emissions ==
Puget Sound Energy rates show a typical residential electrical bill (at 1000 [[Kilowatt-hour|kWh]] per month) of $102.56 and typical a gas bill (at 68 therms per month) of $86.<ref>{{cite web |url=http://www.utc.wa.gov/aboutUs/Lists/News/DispForm.aspx?ID=142 |title=News - Puget Sound Energy electric and natural gas... |website=www.utc.wa.gov |url-status=dead |archive-url=https://web.archive.org/web/20120511235331/http://www.utc.wa.gov/aboutUs/Lists/News/DispForm.aspx?ID=142 |archive-date=2012-05-11}} </ref> In 2018, PSE reported total carbon-dioxide-equivalent emissions of 10,512,364 metric tons due to electricity operations and 4,989,403 metric tons due to natural gas operations, which equate to 9 and 6 metric tons per customer respectively. PSE figures emissions of 0.169 metric tons per user according to EPA GHG MRR Subpart DD.<ref>{{cite web | url= https://www.pse.com/-/media/PDFs/GHG_Inventory_2018.pdf | title= 2018 Greenhouse Inventory}}</ref>

== References ==
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{{Puget Sound Energy}}
{{Seattle Corporations}}

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[[Category:Puget Sound Energy| ]]
[[Category:Electric power companies of the United States]]
[[Category:Public utilities of the United States]]
[[Category:Hydroelectric power companies of the United States]]
[[Category:Natural gas companies of the United States]]
[[Category:Companies based in Bellevue, Washington]]
[[Category:American companies established in 1997]]
[[Category:Public utilities established in 1997]]
[[Category:1997 establishments in Washington (state)]]