PSE gets a wee rate increase

The Washington Utilities and Transportation Commission (WUTC), Puget Sound Energy and the state attorney general have reached a settlement which would allow the power company to raise rates, though not by as much as they’d like.

Last December the company asked for a temporary rate hike of 22 percent from May to October to stem financial bleeding with an additional $170 million in revenue. The proposed settlement lets them take a three-month 8.3 percent increase starting in April, which will mean an additional $25 million for the company by the end of June.

According to the WUTC, the new settlement agreement is the first step in setting new permanent rates for the company, which has now trimmed it’s rate hike request by more than half.

WUTC commissioners will decide this week whether to accept the settlement.
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