Australian bank to sell 44% of PSE

Buyers are Canadian and Dutch pension funds

Macquarie, the Australian investment bank that owns 44% of PSE, recently announced its plan to sell its shares to two pension funds from Canada and the Netherlands.

Here is PSE’s press release: Puget Sound Energy welcomes new investment

Although we will not miss the anti-consumer behavior of Macquarie, this sale raises concerns for CENSE. It perpetuates 100% foreign ownership of critical energy infrastructure that is essential to the economic, residential, and environmental vitality of our region. It prioritizes financial returns for distant investors over local community values. We trust the new owners will reconsider the unnecessary and harmful Energize Eastside transmission line.

The sale must be approved by PSE’s state regulator, the Washington Utility and Transportation Commission. CENSE will study possible ramifications of this proposal and work with regulators and legislators to achieve the best possible outcome for our communities.

Stay tuned for updates in future newsletters.

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August 10th, 2018|