What would Kitsap PUD proposition 1 do and what would it cost?

What would Kitsap PUD proposition 1 do?  

Kitsap PUD Proposition 1 authorizes Kitsap PUD to take over all of PSE’s electrical infrastructure in Kitsap County, including transmission lines, substations, maintenance and operations facilities, and become the only electric provider for every household and business in the county.  

It is not a vote authorizing the PUD to commission a study to estimate costs to taxpayers and customers—that could have been done without a vote, similar to what other jurisdictions have done.

What would it cost?  

Taking over PSE’s electrical infrastructure—poles, wires, substations—would cost between $1.2 billion and $1.5 billion, according to an independent study conducted by Concentric Energy Advisors. Importantly, that is only the cost to acquire the electric transmission and distribution system and does not include numerous additional costs that would need to be evaluated separately and could increase the amount that a municipal utility would need to finance.  

The debt would fall on taxpayers and customers through higher rates, service fees, property taxes or some combination of all three. The PUD would need to raise property taxes to about 20 times what they are today to cover the billion dollar-plus cost. 

Learn more: PSE will host a telephone town hall with Concentric Energy Advisors on Tuesday, October 13 at 6 p.m. Join the call at admin.teletownhall.us/event/watch/137121. The town hall will cover what the study includes and the additional costs and considerations that are outside of the asset valuation. You can also learn more at www.NoKitsapPUDProp1.com.