Most consumers oppose Puget Sound Energy sale

Most consumers oppose Puget Sound Energy sale

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Story Published: May 27, 2008 at 7:38 AM PDT

Story Updated: Nov 20, 2008 at 8:44 PM PDT

By Associated Press

OLYMPIA, Wash. (AP) - The state Utilities and Transportation Commission has received 8,000 comments from the public on the proposal to sell Puget Sound Energy to foreign investors and raise rates.

A spokeswoman, Marilyn Meehan, says about 95 percent of the comments oppose the sale and rate increase.

The federal Energy Regulatory Commission has already approved the $7.4 billion sale to a consortium, led by the Australian investment bank Macquarie (muh-KWAR'-ee) and the Canadian Pension Plan Investment Board.

State regulators could approve the sale and rate increase by the end of the year.

PSE is the state's and largest investor-owned utility, with one million electric and 721,000 natural gas customers in 11 counties.

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