Puget Sound Energy recently mailed a notice about upcoming rate changes. I was stunned. Inflation has been a factor in recent times, and the PSE rate proposals are just an example of how a company delivering essential services can gouge its consumers.
Proposed rate changes for 2025 range from 7.19% increase for electric service to 17.29% for natural gas. In 2026, the range goes from an additional 9.58% to 1.59%, again, electricity and natural gas, respectively.
These proposed increases far exceed any salary, pension, or social security increases that would help an individual absorb these upcoming rates.
PSE lists the reasons for what they call “adjustments,” and they use words like “to continue, deploy, invest, fund” various company operations. The most important one that is never detailed is "To recover increased operating costs." It's these costs that would be the most telling. How many dollars will go toward six- and seven-figure salaries? How many will fund stock buybacks? Dividends? How much is budgeted for profit?
In these inflationary times, it is insensitive to heap such high increases on consumers when operating as a virtual monopoly providing a service that is mandatory, not optional. Hopefully, the Washington Utilities and Transportation Commission will insist that specifics are given for each of the reasons PSE is using to justify the rate changes. Then, even more hopefully, the Commission will determine if they are justified in their asks.
~ Fred Yancey, Olympia
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Roundguy
This seems like it could be as high as it is because of the carbon tax that is on the ballot to be removed this year with Initiative 2117. The carbon tax was claimed to be 43 cents per gallon at the end of 2023. I could not find the exact amount it raises Natural Gas but the law states they have to tax based on the carbon emitted. That would explain why the natural gas raise is so much higher. Maybe this can be fixed at the ballot box this fall.
Friday, August 9 Report this
jwiley
From past communications with the UTC, they need to hear from us directly. They have told me that very few citizens call or write in with concerns. So, people, please let them know what this will do with your bottom line. The author is correct. Retirees who are limited by Social Security income will really feel these increases, as the cost of basic food and supplies has risen exponentially.
Friday, August 9 Report this
JamesBishop
PSE not being an American owned company you must realize that it costs big bucks to feed the kangaroos.
Friday, August 9 Report this
JamesBishop
PSE not being an American owned company you must realize that it costs big bucks to feed the kangaroos.
Friday, August 9 Report this
DanaMadsen
I got the same notices and read them through. I contacted PSE and requested that they let me know just how much of the rate increase is due to the carbon tax. There is no line item showing that and so far they have sent two emails that disclose nothing. It is important because when the initiative is passed, there should be an immediate rate reduction.
Friday, August 9 Report this
Southsoundguy
It is because they did not purchase enough energy in the market to compensate for under-delivery from useless renewable "generation."
Friday, August 9 Report this
KellyOReilly
I appreciate this reader opinion by Fred Yancey because I have not received anything from PSE regarding potential rate increases. I called PSE about this and was referred to the following webpage: https://www.pse.com/en/pages/rates/news-and-filings/general-rate-case-statement . That page lists the reasons PSE has requested rate increases from the WA Utilities and Transportation Commission (UTC). Further, it provides info on a public hearing scheduled for October 9, 2024 at 6pm. There is a number to call to register for that zoom meeting.
Friday, August 9 Report this
TheVirtualOne
This article is right on the nose. Please go to the Washington Utilities and Transportation Commission website and submit your comments regarding this outrageous proposal by PSE to gouge customers. Here’s their website:
https://www.utc.wa.gov/consumers/submit-comment
Friday, August 9 Report this
TheVirtualOne
A copy of the proposed rate increase notice should be included in your most recent PSE bill, but here is a link to it. The notice also includes details on how the public can participate in a hearing on October 9th at 6pm via Zoom.
https://www.pse.com/-/media/Monthly-Promotions/8221_GeneralRateCase_BillInsert.pdf?rev=904cc6780f25406e8cfba6431206bdba&sc_lang=en&modified=20240701202354&hash=289A6C984B8C86537BAA5BFF9B74FF92
Saturday, August 10 Report this
Yeti1981
Vote Yes, Pay Less! Yes on I-2066 and I-2117 will go a long way toward easing this burden. Also, this whole article just to tell the UTC to do their job? The last paragraph describes exactly what the UTC does every day.
Monday, August 12 Report this
Yeti1981
@Roundguy, you're on target. Also, the expediting of the end of natural gas and the need to meet those requirements by decommissioning infrastructure is going to continue to bring more excessive rate increases. If you think this is a large increase, wait till the major purchase of renewables PSE just announced impacts future rate increases.
Monday, August 12 Report this
CrazyGranny
At the risk of sounding all science fiction and doomsday on you, it's called "thinning the herd". Animals do it by killing off the weakest ones so the rest of the herd can survive in bad times. Since it's highly frowned upon for humans to do so, they get around it by raising the prices for necessities such as food and electricity. That way, the old, the infirm, and the ones they consider no longer "viable or necessary to society" slowly die off. I know from experience because I just turned 76 and live on a small pittance of Social Security (which I EARNED, by the way), as well as EBT and Section 8. Every year it's harder to make ends meet with my income, yet when I get a COLA raise, it's nowhere near enough to offset the actual living costs. Perhaps the movie Soylent Green was a great exaggeration, but it does make you think about the possibilities of the future.
Monday, August 12 Report this
HappyOlympian
I just used the link listed here to add a comment, and bookmarked the link for future use.
Wednesday, August 21 Report this