in News Departments > New & Noteworthy
print the content item

State regulators have approved the sale of Puget Energy and its wholly owned utility subsidiary, Puget Sound Energy (PSE), to New York-based Puget Holdings LLC. Valued at an estimated $7.4 billion, the sale is subject to 78 commitments and conditions to protect customers.

Puget Holdings will buy all of the outstanding common stock of Puget Energy for $30 per share, and Puget Energy common stock will no longer be publicly traded. PSE owns the 229 MW Wild Horse Wind Facility and the 150 MW Hopkins Ridge Wind Facility.

"The commission will continue to regulate PSE's natural gas and electric rates, services, facilities and practices just as it does today," Washington Utilities and Transportation Commission Chairman Mark Sidran and Commissioner Patrick Oshie wrote in their majority opinion. "The commission will continue to exercise all its power of oversight and authority to protect consumers and the company in order to ensure that PSE continues to provide safe, reliable service at reasonable rates and of the quality the public expects."

Commissioner Philip Jones opposed approval of the sale and filed a dissent opinion, saying that the transaction creates an incremental debt load that will lead to "large and frequent rate increases."

Puget Holdings is a Delaware limited liability company, with its principal offices in New York, privately held by a group of investment companies and fund managers with infrastructure investments primarily in the U.S., Australia and Canada.

SOURCE: Puget Energy

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Renewable NRG_id1934
Hybrid Energy Innovations 2015
BG 2015DblBox_id2032