PSE Rate Proposal Could Raise Seattle Area Bills Seattle area households and businesses may face significant increases in energy costs as Puget Sound Energy seeks approval for a three-year rate plan that would raise electric and natural gas bills from 2027 to 2029. The utility filed its proposal on February 27, proposing a front-loaded increase in the first year, which could add dozens of dollars to monthly bills for many customers. These hikes would build on existing rate adjustments already in place for 2025 and 2026. Puget Sound Energy is requesting state regulators to approve the plan, which would allow the utility to recover over $1.5 billion in costs. The proposed increases—29.32% for electric service and 19.83% for natural gas over three years—would fund investments in new power generation, transmission upgrades, and grid improvements. These projects aim to meet rising demand and comply with state mandates for clean energy. The utility argues that the funds are necessary to ensure reliability and resilience against extreme weather events and wildfires. For residential customers, the impact would be noticeable. A typical electric user consuming 800 kilowatt-hours per month could see an additional $28 in early 2027, rising to about $7 in 2028 and nearly $16 in 2029. Natural gas customers using 64 therms monthly would face a $14 increase in 2027, with smaller annual adjustments in the following years. The utility also highlights projected federal tax credits worth $529 million, which it claims would offset some of the costs for customers. The proposal comes amid broader challenges for utilities, including surging demand from data centers driven by artificial intelligence. A recent study by the Berkeley Lab, supported by the Department of Energy, warns that U.S.#seattle #puget_sound_energy #berkeley_lab #department_of_energy #house_bill_2515
