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


Trachte Inc._id1770
Latest Top Stories

Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.

Canwea_id1984
Renewable NRG_id1934
UnitedEquip_id1995
Tower Conference_id1965