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Puget Sound Energy
Company typePrivate
IndustryEnergy, utility
Founded1997
Seattle, Washington, U.S.
Headquarters
Key people
Mary E. Kipp (President and CEO)
ProductsElectricity and natural gas
Revenue$3.23 billion (2009 energy sales)
OwnerAIMCo, BCI, OMERS, and PGGM
Number of employees
3,140[1] (2017)
Websitepse.com

Puget Sound Energy (PSE) is an energy utility company based in the U.S. state of Washington that provides electrical power and natural gas to the Puget Sound region. The utility serves electricity to more than 1.1 million customers in Island, King, Kitsap, Kittitas, Pierce, Skagit, Thurston, and Whatcom counties, and provides natural gas to 750,000 customers in King, Kittitas, Lewis, Pierce, Snohomish and Thurston counties. The company's electric and natural gas service area spans 6,000 square miles (16,000 km2) .

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). While PSE-owned generating capacity is at 3,597 MW.[2]

PSE owns coal, hydroelectric, natural gas and wind power-generating facilities, with more than 3,500 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 energy efficiency programs.[3]

Coal accounted for 36% of PSE's electricity fuel mix in 2018.[3] PSE's partial ownership of Eastern Montana's Colstrip Generating Station represents the single largest power-generating facility PSE owns, approximately 700 MW of generating capacity. In 2010, the Colstrip Generating station was the 8th largest greenhouse gas emitter among power plants in the United States.[4]

Hydroelectricity generated 31% of PSE's power supply in 2016.[5] The company operates three hydroelectric facilities:

Natural gas-fired power generation accounted for 22% of the utility's electricity fuel mix in 2016.[3] The company operates these natural gas-fired facilities:

Wind power and other generation sources, such as biomass and landfill gas, account for 1% of the utility's electricity fuel mix.[15] PSE owns and operates these wind-power facilities:

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.[16]

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.

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

History

PSE was formed in 1997 when two of its largest ancestral companies – Puget Sound Power & Light Company and Washington Energy Company – merged.[17]

In 2009 Puget Sound Energy was sold to foreign investors led by Macquarie Group,[18] in a leveraged private equity buyout. 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.[19]

Rates and emissions

Puget Sound Energy rates show a typical residential electrical bill (at 1000 kwh per month) of $102.56 and typical a gas bill (at 68 therms per month) of $86.[20] 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.[21]

References

  1. ^ "Puget Energy". Fortune. Retrieved 2019-02-14.
  2. ^ Factsheet, About PSE
  3. ^ a b c "Electricity Supply". pse.com. Retrieved 2020-08-30.
  4. ^ U.S. EPA ghgdata, 2010 Greenhouse Gas Emissions from Large Facilities, 2010
  5. ^ State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report Archived 2013-06-20 at the Wayback Machine
  6. ^ Electron Hydroelectric Project Archived 2012-11-17 at the Wayback Machine, Puget Sound Energy
  7. ^ "Sumas Generating Station" (PDF). Puget Sound Energy.
  8. ^ "Ferndale Generating Station" (PDF). Puget Sound Energy.
  9. ^ "Encogen Generating Station" (PDF). Puget Sound Energy.
  10. ^ "Goldendale Generating Station" (PDF). Puget Sound Energy.
  11. ^ "Mint Farm Generating Station" (PDF). Puget Sound Energy.
  12. ^ "Fredonia Generating Station" (PDF). Puget Sound Energy.
  13. ^ "Frederickson Generating Stations" (PDF). Puget Sound Energy.
  14. ^ "Frederickson Generating Stations" (PDF). Puget Sound Energy.
  15. ^ State of Washington Department of Commerce, 2010 Electric Utility Fuel Mix Disclosure Report Archived 2013-06-20 at the Wayback Machine
  16. ^ "Thermal Power".
  17. ^ https://pse.com/aboutpse/PseNewsroom/MediaKit/006_History_web.pdf About PSE History
  18. ^ "Puget Sound Energy sold to foreign investors | MORE TOP BIZ - the News Tribune". Archived from the original on 2013-02-04. Retrieved 2012-06-02.
  19. ^ "OMERS, PGGM Acquire Puget Sound Stake from Macquarie". Retrieved 2018-12-02.
  20. ^ "News - Puget Sound Energy electric and natural gas..." www.utc.wa.gov. Archived from the original on 2012-05-11.
  21. ^ "2018 Greenhouse Inventory" (PDF).