Utility Plant (Tables)

12 Months Ended

Dec. 31, 2014



		Puget Energy						Puget Sound Energy
Utility Plant	Estimated Useful Life	At December 31,						At December 31,
(Dollars In Thousands)	(Years)	2014			2013			2014			2013
Electric, gas and common utility plant classified by prescribed accounts :
Distribution plant	10-50	$	4,748,988		$	4,448,451		$	6,417,551		$	6,127,732
Production plant	25-125	2,973,853			2,966,223			3,907,224			3,948,270
Transmission plant	45-65	1,189,296			1,043,605			1,306,009			1,162,929
General plant	5-35	481,116			504,965			553,130			599,156
Intangible plant (including capitalized software)	3-50	311,959			316,614			304,135			309,972
Plant acquisition adjustment	7-30	242,826			242,826			282,792			282,792
Underground storage	25-60	28,859			27,857			42,494			41,501
Liquefied natural gas storage	25-45	12,628			12,622			14,498			14,492
Plant held for future use	NA	54,996			28,742			55,148			28,895
Recoverable Cushion Gas	NA	8,655			8,655			8,655			8,655
Plant not classified	1-100	91,519			124,589			91,519			124,589
Grant	NA	(105,659		)	—			(105,659		)	—
Capital leases, net of accumulated amortization ¹	5	9,473			17,051			9,473			17,051
Less: accumulated provision for depreciation		(1,611,220		)	(1,373,178		)	(4,449,680		)	(4,297,012		)
Subtotal		$	8,437,289		$	8,369,022		$	8,437,289		$	8,369,022
Construction work in progress	NA	239,690			310,318			239,690			310,318
Net utility plant		$	8,676,979		$	8,679,340		$	8,676,979		$	8,679,340

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¹	Accumulated amortization of capital leases at Puget Energy was $28.4 million in 2014 and $20.8 million in 2013. Accumulated amortization of capital leases at PSE was $28.4 million in 2014 and $20.8 million in 2013.

Schedule of Jointly Owned Utility Plants

These amounts are also included in the Utility Plant table above.



				Puget Energy’s Share					Puget Sound Energy’s Share
Jointly Owned Generating Plants (Dollars in Thousands)	Energy Source (Fuel)	Company’s Ownership Share		Plant in Service at Cost		Accumulated Depreciation			Plant in Service at Cost		Accumulated Depreciation
Colstrip Units 1 & 2	Coal	50	%	$	158,516	$	(12,047	)	$	293,103	$	(146,635	)
Colstrip Units 3 & 4	Coal	25	%	234,787		(28,763		)	509,619		(303,594		)
Colstrip Units 1 – 4 Common Facilities 1	Coal	various		83		(21		)	252		(189		)
Frederickson 1	Gas	49.85	%	61,771		(5,750		)	70,719		(14,698		)
Jackson Prairie	Gas Storage	33.34	%	28,185		(4,099		)	42,494		(18,409		)

Schedule of Asset Retirement Obligations

The following table describes all changes to the Company’s ARO liability:



	At December 31,
(Dollars in Thousands)	2014			2013
Asset retirement obligation at beginning of period	$	48,687		$	45,496
New asset retirement obligation recognized in the period	—			350
Liability settled in the period	(602		)	(1,188		)
Revisions in estimated cash flows	(480		)	2,769
Accretion expense	1,304			1,260
Asset retirement obligation at end of period	$	48,909		$	48,687

- Definition

Tabular disclosure of proportionate interests in jointly owned utility plants. Includes the amount of plants in service, the accumulated provision for depreciation (if available), the amount of plants under construction, and the proportionate share. The amounts presented may be further subdivided to show amounts applicable to plant subcategories (for example, production, transmission, distribution). Includes statements that the amounts represent the utility's share in each joint plant and that it must provide its own financing. Information concerning two or more generating plants on the same site may be combined. States that the utility's share of direct expenses of the joint plants is included in the corresponding operating expenses on its income statement (for example, fuel, maintenance of plant, other operating expense). If the share of direct expenses is charged to purchased power, then disclose the amount so charged and the proportionate amounts charged to specific operating expenses on the records maintained for the joint plants.

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