PSE is a heavily regulated investor-owned utility whose actions are carefully monitored and reviewed by the UTC. In order to build needed upgrades to the electrical system, we invest the money upfront. Once these capital upgrades are “live” (power is flowing through the lines and customers are receiving power from those lines), we then submit the amount of the capital investment to the UTC. The UTC reviews the investments for prudency before these amounts can impact rates. All of PSE’s work must pass muster.
Once the costs of upgrades or additions to our electrical infrastructure are approved by the UTC, they are shared by all of PSE’s 1.1 million customers and paid for over time.