Puget Sound Energy new investment update
BELLEVUE, Wash. (10/5/2018) Puget Sound Energy new investment update
Puget Sound Energy (“PSE”) has asked the Washington Utilities and Transportation Commission for authorization to transfer a non-controlling 43.99 percent ownership interest in PSE’s parent company, Puget Holdings LLC, which is currently held by funds managed by Macquarie Infrastructure Partners Inc. (“MIP Funds”) and a Macquarie entity, Padua MG Holdings LLC, to the following four purchasers: Alberta Investment Management Corporation (“AIMCo”); British Columbia Investment Management Corporation (“BCI”); OMERS Administration Corporation (“OAC”); and PGGM Vermogensbeheer B.V (“PGGM”). This transfer is contingent upon approval by the Washington Utilities and Transportation Commission.
All four of the purchasers are well-funded, diversified pension funds, with long-term investment horizons, and with investment experience in the energy sector and with regulated utilities. Two of the purchasers—AIMCo and BCI—have been indirect owners of PSE for nearly a decade and are increasing their respective indirect ownership interest in PSE. OAC has held indirect ownership interests in energy and utility companies around the world for more than a decade. PGGM holds indirect ownership interests in energy and infrastructure companies and assets in the United States and Europe.
If you have questions about this request and how it will affect you, please call PSE at 1-888-225-5773. If you have questions about the approval process, you may contact the Washington Utilities and Transportation Commission (UTC):
Washington Utilities & Transportation Commission
P.O. Box 47250
Olympia, WA 98504-7250
via telephone at 1-888-333-9882 (toll-free)
via email at firstname.lastname@example.org
or via the UTC website: www.utc.wa.gov, click on the submit a comment link
If you would like to comment on this proposal, it is important for you to do so now. Comments must be submitted in writing no later than 5 pm, Wednesday, October 24, 2018, or presented at the commission's open meeting at 9:30 am, Monday, November 5, 2018, to be considered as part of the formal record. The commission encourages your written comments, either in favor or opposition, regarding this proposal. All open meetings are held in Olympia, WA. If you would like to be added to the commission's mailing list to be notified of the open meeting date please call the toll-free number listed above and leave your name and complete mailing address.