Puget Sound Energy rate hikes are about to hit customers
Apr 2, 2024, 12:04 PM | Updated: 12:05 pm
An example of a PSE bill. (Photo courtesy of PSE)
(Photo courtesy of PSE)
In a move that has sparked both debate and concern,聽 the state鈥檚 largest provider of electricity and natural gas, is implementing rate increases that will impact its customers over the next two years.
PSE recently filed requests with the to raise electric and natural gas rates once again. Both rates will increase by less than one percent on May 1.
How it affects you
- Electricity Customers: If you鈥檙e a typical residential electric customer using 800 kWh of energy per month, your monthly bill increased by $7.75 or 8.7% in 2023, resulting in an average bill of $96.65. In 2024, there will be an additional聽$1.67聽or聽1.7%聽increase, bringing your average monthly bill to聽$98.32.
- Natural Gas Customers: For residential natural gas customers using 64 therms per month, in 2023, your monthly bill went up by $4.87 or 6.4%, with an average monthly bill of $80.56. In 2024, expect an additional聽$1.34聽or聽1.7%聽increase, resulting in an average monthly bill of聽$81.90.
Related news: New bill demands transparency for Puget Sound Energy customers
Why the increase?
:
The company said wholesale gas prices have been climbing steadily, impacting both electricity and natural gas bills. It also said PSE is starting to align with state goals by investing in cleaner energy sources and continued investments are necessary to maintain a reliable energy grid.
The settlement agreements
The settlement also requires PSE to return $34.6 million in over-collected taxes to customers.
Other news: Could Puget Sound Energy customers soon lose access to natural gas service?
How can you lower your energy bills?
PSE says to not wait to insulate. Insulation and air sealing can help keep your home cool in the summer and lower your heating bill by as much as 8% during colder months. You can also lower the thermostat to higher savings. Also, save buckets by using less hot water. Lastly, check your filters. Dusty filters can lead to your air conditioning/heating systems running inefficiently.
What鈥檚 Next?
The new rates take effect on May 1, 2024. So, customers are encouraged to stay informed. For more details, visit PSE鈥檚 听辫补驳别.
Bill Kaczaraba is a content editor at MyNorthwest. You can read his stories here. Follow Bill on X, formerly known as Twitter, and email him here.听
