Puget Energy is an energy services holding company incorporated in the state of Washington in 1999. Substantially, all of its operations are conducted through its regulated subsidiary, Puget Sound Energy Inc. (PSE), a utility company. Puget Energy also has a wholly-owned, non-regulated subsidiary, Puget LNG, LLC (Puget LNG), which was formed in 2016 and has the sole purpose of owning, developing and financing the non-regulated activity of a liquefied natural gas (LNG) facility at the Port of Tacoma, Washington. Puget Energy is owned through a holding company structure by Puget Holdings, LLC (Puget Holdings). All of Puget Energy's common stock is indirectly owned by Puget Holdings, LLC (Puget Holdings). Puget Holdings is owned by a consortium of long-term infrastructure investors including the Canada Pension Plan Investment Board, the British Columbia Investment Management Corporation (BCI), the Alberta Investment Management Corporation (AIMCo), Ontario Municipal Employee Retirement System (OMERS) and PGGM Vermogensbeheer B.V. The sale of previous owners', Macquarie Infrastructure Partners and Macquarie Capital Group Limited, shares to OMERS, PGGM Vermogensbeheer B.V., AIMCo and BCI was approved by various federal and state agencies including that of the Washington Utilities and Transportation Commission (Washington Commission), and closed on April 17th, 2019. Puget Energy and PSE are collectively referred to herein as “the Company.”
![Puget Sound Energy logo](https://files.capedge.com/10-K/0001085392-23-000007/psd-20221231_g1.jpg)
Company profile
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
PUGET SOUND POWER & LIGHT CO /WA/
SEC CIK
Corporate docs
Subsidiaries
Puget Energy, Inc. • 1.Puget Sound Energy, Inc. • 2.Puget LNG, LLC ...
Latest filings (excl ownership)
8-K
Other Events
11 Jun 24
424B5
Prospectus supplement for primary offering
5 Jun 24
FWP
Free writing prospectus
4 Jun 24
424B5
Prospectus supplement for primary offering
4 Jun 24
10-Q
2024 Q1
Quarterly report
1 May 24
8-K
Departure of Directors or Certain Officers
13 Mar 24
10-K
2023 FY
Annual report
5 Mar 24
8-K
Departure of Directors or Certain Officers
8 Feb 24
8-K
Puget Sound Energy announces PSE to build a 248 MW utility-scale wind project in Stillwater County, Montana
6 Dec 23
8-K/A
Departure of Directors or Certain Officers
21 Nov 23
Financial summary
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 92.42 mm | 92.42 mm | 92.42 mm | 92.42 mm | 92.42 mm | 92.42 mm |
Cash burn (monthly) | 40.72 mm | 3.24 mm | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 157.41 mm | 12.53 mm | n/a | n/a | n/a | n/a |
Cash remaining | -64.99 mm | 79.89 mm | n/a | n/a | n/a | n/a |
Runway (months of cash) | -1.6 | 24.7 | n/a | n/a | n/a | n/a |