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:
“History has neither the venerableness of antiquity, nor the freshness of the modern. It does as if it would go to the beginning of things, which natural history might with reason assume to do; but consider the Universal History, and then tell us,—when did burdock and plantain sprout first?”
—Henry David Thoreau (1817–1862)
“The myth of independence from the mother is abandoned in mid- life as women learn new routes around the mother—both the mother without and the mother within. A mid-life daughter may reengage with a mother or put new controls on care and set limits to love. But whatever she does, her child’s history is never finished.”
—Terri Apter (20th century)
“When we of the so-called better classes are scared as men were never scared in history at material ugliness and hardship; when we put off marriage until our house can be artistic, and quake at the thought of having a child without a bank-account and doomed to manual labor, it is time for thinking men to protest against so unmanly and irreligious a state of opinion.”
—William James (1842–1910)