in News Departments > FYI
print the content item

Puget Sound Energy (PSE), a regulated utility subsidiary of Puget Energy, providing electric and natural gas service to the Puget Sound region of western Washington, and a consortium of North American infrastructure investors have filed an application with the Washington Utilities and Transportation Commission (WUTC) to request its approval in connection with the proposed merger of Puget Energy announced on Oct. 26.

Under the terms of the merger agreement, the consortium will acquire all of the outstanding common shares of Puget Energy for $30 per share in cash, subject to the approval of Puget Energy's shareholders and certain regulatory approvals.

"We're taking the necessary steps to move forward with the merger by preparing and filing the requisite applications and materials to receive regulatory approval," says Stephen P. Reynolds, chairman, president and CEO of Puget Energy and PSE.

On Dec. 3, after receiving notice of early termination of the required waiting period under the Hart-Scott-Rodino Act, Reynolds notes, Puget Energy completed the sale to the consortium of 12.5 million shares for an aggregate offering price of approximately $296 million. This infusion will fund PSE's ongoing construction program and working capital needs.

PSE owns the 229 MW Wild Horse Wind Facility - commissioned in December 2006 - and the 150 MW Hopkins Ridge Wind Facility.


Trachte Inc._id1770
Latest Top Stories

The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.


Quebec Government Postpones Wind Power RFP; No New Date Scheduled

The request for proposals (RFP) is part of an overall 800 MW wind power tranche that will serve as a bridge to the next phase in the province's energy future.

Canwea_id1984
Renewable NRG_id1934
UnitedEquip_id1995
Future Energy_id2008