Puget Sound Energy files three-year rate increase proposal

BELLEVUE, Wash. (Feb.1, 2022) – Puget Sound Energy has filed a three-year rate plan request with the Washington Utilities and Transportation Commission (UTC)

For residential customers, the proposal would increase rates in the first year by a net of 12.9% for electricity and 11.9% for natural gas, starting in January 2023, with increases of between 1.2 and 2.7% in the second and third years. 

If the request is approved, a typical residential electric customer would see an average monthly bill increase of $12 and a typical natural gas customer a monthly increase of $9 next year.

The proposal enables the next phases of the transition to a clean energy future, including meeting the 2030 and 2045 carbon-reduction targets set by the 2019 Washington Clean Energy Transformation Act (CETA), as well as recovery of approximately $3.1 billion in reliability and service upgrades made over the past four years that are not currently factored into rates. 

Additionally, the proposal includes nearly $10 million per year in expanded assistance for low-income and economically disadvantaged customers.

“We’re asking more of our energy infrastructure now than ever before, whether it’s to help withstand the demands of record-setting weather such as we saw in 2021 or to do our part in meeting the challenge of climate change by 2030 and beyond,” said Andy Wappler, Senior Vice President and Chief Customer Officer. 

Actions proposed by PSE include a new discount rate for low-income customers and seniors, increased funding for low-income bill payment assistance, as well as a new program that would forgive the debt of eligible customers facing significant past-due balances. 

Historically, PSE residential electric bills have increased at less than two percent per year for the last 10 years, with PSE residential gas customer bills declining over the same period.

“We encourage all of our customers to make sure they are taking full advantage of our energy efficiency rebates and tips, too, to make sure their energy dollars aren’t wasted,” Wappler noted. “Our online energy analysis tools and our team of Energy Advisors can help everyone use their electricity and gas wisely.”

Energy infrastructure improvements reflected in the request include:

• PSE’s Baker River hydroelectric project to maintain the safety and integrity of a vital source of carbon-free energy
• The Energize Eastside transmission project serving as the backbone of growing Eastside communities that haven’t been upgraded since the 1960s
• Complete installation of PSE’s advanced metering infrastructure to replace obsolete equipment with meters that enable robust, two-way communication, which will be essential as we add more clean energy resources to our grid
• Investments in strengthening and modernizing the electrical grid to improve the system’s resilience and reliability, especially during severe weather and other peak demand events resulting from climate change
• Support for electric vehicle adoption, including PSE Up and Go public charging stations and customer education around electric vehicles
• Installation of Distributed Energy Resources (DERs) such as local rooftop, ground solar and battery storage programs to double what they are today in partnership with homes and businesses
• Continued modernization and decarbonization of the natural gas pipeline system, improving pipeline safety and reliability and integrating low carbon fuels such as renewable natural gas and green hydrogen
• Significant upgrades to customer-facing technology and online self-service tools to improve efficiency and enhance customer experience

Business customer increases would vary according to the tariff service categorization for electric and natural gas customers.

More information here