People over profits: More details

Gas and electric utilities are obligated to serve consumers as a condition of being a monopoly with guaranteed profits. HB 1589 eliminates protections for roughly 800,000 Puget Sound Energy (PSE) natural gas customers by removing PSE’s obligation to serve these customers, hurting our elderly and disadvantaged communities most.  

• By 2045, PSE predicts residential electricity rates will increase by 37% and residential natural gas rates will increase by 151%, ignoring all other factors impacting these costs. 
  • Right now, 64% of PSE’s customers struggle to pay their energy bill each month. Families shouldn’t have to choose between heating and eating.  
• “Obligation to Serve” laws exist to protect consumers–including roughly 800,000 natural gas customers served by PSE. 

• PSE estimates converting their residential customers from natural gas to fully electric would cost between $7.3 billion to $10.5 billion. That’s why when they decide to stop serving natural gas to residential customers, they want you to pay for it.  
• The cost to convert one home to all-electric appliances costs as much as $39,767 or more if you add solar panels and electric vehicle charging. The range depends on which segments of the home will be impacted. It’s fair to say, the older the home, the closer to the higher estimate.