History
Through mergers and acquisitions, dozens of small utility companies gradually evolved into today’s Puget Sound Energy. The oldest of these – the Seattle Gas Light Company – introduced Washington Territory to manufactured-gas lighting on New Year’s Eve, 1873. A dozen years later, another PSE ancestor – the Seattle Electric Light Company – gave the region its first electric service from a central power plant. Yet another of PSE’s predecessor companies, the Snoqualmie Falls Power Company, built the region’s first large hydroelectric plant—the first ever to have completely underground generators, at Snoqualmie Falls, in 1898.
PSE was formed in 1997 when two of its largest ancestral companies – Puget Sound Power & Light Company and Washington Energy Company – merged.
In 2009 Puget Sound Energy was sold to foreign investors, Macquarie Group, in a leveraged private equity buyout. Puget Holdings, the US title of this group of long-term infrastructure investors, merged with Puget Energy, PSE’s parent company to form the current business structure. Puget Energy is a holding company incorporated in the State of Washington. All of its operations are conducted through its utility subsidiary, PSE, which is regulated by Washington State’s Utilities and Transportation Commission.
Read more about this topic: Puget Sound Energy
Famous quotes containing the word history:
“American time has stretched around the world. It has become the dominant tempo of modern history, especially of the history of Europe.”
—Harold Rosenberg (1906–1978)
“All history becomes subjective; in other words there is properly no history, only biography.”
—Ralph Waldo Emerson (1803–1882)
“English history is all about men liking their fathers, and American history is all about men hating their fathers and trying to burn down everything they ever did.”
—Malcolm Bradbury (b. 1932)