WASHINGTON — Washington’s largest utility company is asking state regulators to approve a $1.5 billion increase in customer rates.
In April, Puget Sound Energy (PSE) proposed new rate hikes that would raise electricity rates by 30% over the next three years and gas rates nearly 20% over the same period.
In PSE’s proposal, it also calls for tens of millions of dollars to be paid to the company’s shareholders.
Hundreds of customers weighed in on Oct. 7 during a public meeting with PSE.
In April, KIRO 7 reported that PSE estimated the cost of the increase based on 800 kWh of electricity, 200 kWh more than its tier two rates threshold:
Electricity:
2027: 16.75% ($28/ month)
2028: 3.76% ($7/ month)
2029: 8.91% ($16/ month)
Gas:
2027: 13.32% ($14/ month)
2028: 3.04% ($4/ month)
2029: 3.27% ($5/month)
In 2029, based on that usage, an electricity customer would pay $612 more in a year, and a gas customer would pay $276 more.
Customers have until Nov. 12 to submit written testimony on the charges.
You can learn more about doing that here.