September 24, 2026
Even before the Washington Supreme Court overturned thestate’s energy choice initiative last week, Puget Sound Energy (PSE) hadrequested another round of massive rate increases for its customers.
This latest rate case comes on the heels of another significant rate increase approved by the Utilities & Transportation Commission in January 2025. According to the Washington State Attorney General’s Office, PSE’s electric rates have nearly doubled between 2020 and 2025.
Washington’s home builders are fighting back.
“Not only would these massive rate increases furtherincrease the cost of housing, but they also put added burdens on the currentand future homeowners we serve,” said BIAW Executive Vice President Greg Lane.“We join with all homeowners and small business owners in urging the UTC toreject this money grab.”
By the numbers
In January 2025, the UTC approved significant rate increasesfor PSE customers. A typical residential electric bill rose from $109.44in 2024 to $122.03 in 2025 to approximately $129.83 per month in 2026, while atypical natural gas bill rose from $79.81 to $88.27 to approximately $89.86 permonth.
Now, PSE wants to increase customers’ bills even more.They’re asking to increase electric bills by:
- 15.15% in 2027
- 3.74% in 2028
- 8.70% in 2029
They want to increase natural gas bills by:
- 14.16% in 2027
- 3.16% in 2028
- 3.64% in 2029
Based on the an analysis by the Attorney General's Office, average customers could see electric bills increase roughly $606 per year and gas bills increase roughly $264 per year by 2029 compared with current rates.
Washington homeowners and businesses are already struggling with affordability. Increasing energy costs will only make things worse.
Shareholders reap dividends while customers suffer
According to the Attorney General’s Office, PSE paid $62.9million in dividends to its shareholders in 2025. That was after paying $175.9million in dividends in 2024.
At the same time, an average of 12% of customers’ electricbills and 11% of their gas bills go to paying investors rather than for utilityservices. Customers also pay for:
- Increasing executive pay
- Marketing
- Lobbying elected officials
PSE also wants to shift all the risk for volatility in thepower market to its customers—at costs beyond the requested rate increases overthe next three years.
“Legislative leaders and PSE sold out customers in the deal they cut to ban natural gas,” Lane said. “Washingtonians made it clear in approving Initiative 2066 that they do not support banning natural gas. The UTC should respect the will of the people and prevent PSE from charging its customers to ban natural gas and transition to an all-electric utility. Customers should not be paying PSE’s costs through higher utility rates. It simply makes no sense that government and a giant monopoly utility can conspire to make customers pay for a policy the people in this state don’t support.”
Tell the Utilities & Transportation Commission to reject PSE’s request
The Washington Utilities and Transportation Commission will decide whether to grant PSE’s rate increase request. They’re holding two public hearings:
- In-Person Public Hearing: Sept. 29, 2026, 6 pm
- Virtual Public Hearing: Oct. 7, 2026, 6 pm
- View official notice of public hearings
They will also accept comments on these increases until they make their final decision later this year or early next year.
- Email your comments to: comments@utc.wa.gov
- Comment on PSE’s current open rate case in docket UE-260005 using the UTC's online form
- Call toll-free 1-888-333-WUTC (9882); or
- Write the UTC at: P.O Box 47250, Olympia, WA 98504-725.
Please include:
- Company name (PSE)
- Docket number (UE-260005)
- Your name and address
- Your opposition to the rate increase and why
