Most consumers oppose Puget Sound Energy sale

By Associated Press

Summary

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.

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Story Published: May 27, 2008 at 6:38 AM PST

Story Updated: Nov 20, 2008 at 7:44 PM PST

Most consumers oppose Puget Sound Energy sale
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.