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AG's office opposes Puget Energy sale
The Washington Attorney General Office's Public Counsel Section on Wednesday gave a thumbs down to the proposed takeover of Puget Sound...
By Ángel González
Seattle Times business reporter
The Washington Attorney General Office's Public Counsel Section on Wednesday gave a thumbs down to the proposed takeover of Puget Sound Energy by a group of Australian and Canadian investors, saying "consumers appear to get little or nothing in return for the increased financial risk."
The $7.4 billion deal announced by Bellevue-based Puget Energy and Australia's Macquarie investment bank "is not in the public interest," the Public Counsel office said.
By Ángel González
Seattle Times business reporter
The Washington Attorney General Office's Public Counsel Section on Wednesday gave a thumbs down to the proposed takeover of Puget Sound Energy by a group of Australian and Canadian investors, saying "consumers appear to get little or nothing in return for the increased financial risk."
The $7.4 billion deal announced by Bellevue-based Puget Energy and Australia's Macquarie investment bank "is not in the public interest," the Public Counsel office said.
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Comment by Bill Wise on June 18, 2008 at 7:45pm -
This is not surprising news - and frankly, places the risks for PSE in sharp perspective -
Further, today's headlines in the Seattle Times "Seattle's Growth off the Charts" http://seattletimes.nwsource.com/html/localnews/2008003405_growth18m.html will further stress PSE's ability to keep up - they acknowledge this issue but these new growth numbers are even faster than many have been expecting
We in Jefferson County are not growing as fast as Seattle and yet for us PSE customers, we are going to asked to share any rate increases brought on by this growth
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