The Washington Utilities and Transportation Commission today released documents related to the settlement of issues surrounding the proposed merger between Puget Sound Energy and an Australia-based investor group.
The settlement calls for a lowering of the amount of debt financing used by the Macquarie Consortium to acquire the publicly traded utility. It includes provisions that would insulate PSE from any financial problems that may be encountered by its parent company, Puget Energy, and the investor consortium, to be known as Puget Holdings.
The settlement also provides for protection of ratepayers from any costs related to Puget Holdings’ and Puget Energy’s financial activities not directly linked to those regulated by the UTC.
In addition, PSE and its prospective merger partners agreed to provide additional support for low-income electrical customers.
See the documents online.
PSE merger settlement details released
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