Puget Sound Energy customers will receive a one-time credit applied to December and January bills that will save the average residential electric customer about $40.
The credit passes along the financial benefit of sale of PSE’s assets in Jefferson County in 2010, according to a PSE media release on Monday.
The total amount to be paid to PSE customers will be $59.2 million, which includes interest that has accrued. PSE provides electricity to more than 1.1 million customers in eight counties: Island, King, Kitsap, Kittitas, Pierce, Skagit, Thurston, and Whatcom.
Every current PSE electric customer, residential and business, will receive the credit.
Customers will not need to request the credit; it will automatically appear on billing statements.
Because of varying billing cycles, most customers will see a portion of the credit on their December statement, and the remainder on their January bill.
The credits will be based on electricity used during the month of December.
In October, the state Utilities and Transportation Commission (UTC) approved the distribution to customers of $52.7 million, plus interest, from the proceeds of PSE’s sale of its Jefferson County infrastructure.
The UTC approved PSE’s request to distribute the credit through a one-time payout during winter, since it will be a benefit to customers when electric bills are typically higher due to colder weather and shorter daylight hours.
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