PSE COVID-19 Response

As a provider of an essential service, we are working to ensure we are here for our customers, our community and our employees as coronavirus impacts the region.

We know some of our business and residential customers might be worried about paying their bills. Here are measurable actions we’ve taken on behalf of our customers:

  • PSE will not be disconnecting customers for non-payment during this time.
  • During Governor Inslee’s “Stay Home – Stay Healthy” order, PSE will only respond to emergency and make-safe situations which require restoration of power or natural gas such as: outages, natural gas leaks/odors, and low-hanging wire. We will also be working to support the essential facilities and services as listed in Governor Inslee’s critical infrastructure throughout our community.
  • PSE will work with our customers on options such as payment plans and choosing a new bill due date.
  • PSE has an energy assistance portal to facilitate access to funds available to income qualified customers.
  • PSE is requiring our employees to maintain social distancing while working in the field. We encourage our customers to do the same when engaging with our employees.

PSE Covid-19 Response
 
Transfer of non-controlling interest in PSE finalized

BELLEVUE, Wash. (4/17/2019) Following approval by regulatory agencies is now complete.

Following approval by regulatory agencies—including the Washington State Utilities and Transportation Commission (UTC) and the Federal Energy Regulatory Commission (FERC)—the transfer of a non-controlling 43.99 percent ownership interest in Puget Sound Energy’s (PSE) parent company, Puget Holdings LLC, is now complete.

Two of the purchasers, the Alberta Investment Management Corporation (AIMCo) and the British Columbia Investment Management Corporation (BCI) are increasing interests they have held since 2009. They are joined by two investors also experienced in the energy sector and with regulated utilities: OMERS Administration Corporation, which is responsible for administration, investment and plan valuation for OMERS, the defined benefit pension plan for municipal employees in Ontario, Canada; and Dutch pension fund manager PGGM. Canada Pension Plan Investment Board (CPPIB), also an investor since 2009, will continue to hold its interest in the company.

AIMCo, BCI, OMERS and PGGM acquired the interest held by Macquarie Infrastructure Partners (MIP) funds. The MIP funds, which hold investments other than PSE, are nearing the end of their terms as was anticipated when their 2009 investment in Puget was made.

With this change in investors, PSE is now fully owned by public- and private-sector pension and retirement fund managers with long-term investment horizons.

“An investment in PSE reflects confidence in the future of our region and the dedication and skills of our 3,100 local employees,” PSE President and Chief Executive Officer Kimberly Harris said in an August 2018 press release announcing the new investment.