Puget Sound Energy seeks 2012 rate increases
June 14, 2011
NEW — 2 p.m. June 14, 2011
Puget Sound Energy filed a proposal Monday to increase electric and natural gas rates in 2012.
The utility is asking state regulators for rate increases to offset the costs of work to increase electric and gas delivery system reliability, as well as efforts to provide a cleaner energy supply.
The proposal calls for electric rates to increase 8.1 percent and natural gas rates to climb 3 percent for all customer groups. The average homeowner could expect to pay $8.37 more per month for electric service, based on 1,000 kilowatt-hours, and $2.84 more per month for natural gas, based on 68 therms per month.
The state Utilities and Transportation Commission is reviewing the proposal. If approved, the rates could take effect in May 2012.
The rate request is based on energy system improvements made in 2009 and last year, as PSE invested almost $1.1 billion in gas and electric delivery infrastructure and new electric generation, including Phase 1 of the Lower Snake River Wind generation facility under construction in Garfield County.
The filing also proposes a conservation savings adjustment mechanism related to the energy efficiency services for business and residential customers.
Bellevue-based PSE serves more than 1 million electric customers and almost 750,000 natural gas customers in Western Washington, including Issaquah.