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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Inputs, Liabilities, Quantitative Information

Puget Energy
 
 
At December 31, 2018
 
At December 31, 2017
(Dollars in Thousands)
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Liabilities:
 
 
 
 
 
 
 
 
 
Junior subordinated notes
2
 
$
—

 
$
—

 
$
250,000

 
$
238,935

Long-term debt (fixed-rate), net of discount1
2
 
5,510,591

 
6,443,742

 
5,105,329

 
6,520,515

Long-term debt (variable-rate)
2
 
161,900

 
161,900

 
102,600

 
102,600

Total
 
 
$
5,672,491

 
$
6,605,642

 
$
5,457,929

 
$
6,862,050

 
 
 
 
 
 
 
 
 
 
Puget Sound Energy
 
 
At December 31, 2018
 
At December 31, 2017
(Dollars in Thousands)
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Liabilities:
 
 
 
 
 
 
 
 
 
Junior subordinated notes
2
 
$
—

 
$
—

 
$
250,000

 
$
238,935

Long-term debt (fixed-rate), net of discount2
2
 
3,894,860

 
4,574,611

 
3,499,911

 
4,550,130

Total
 
 
$
3,894,860

 
$
4,574,611

 
$
3,749,911

 
$
4,789,065
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Puget Energy and
Puget Sound Energy
Year Ended December 31,
Level 3 Roll-Forward Net Asset(Liability)
2018
 
2017
 
2016
(Dollars in Thousands)
Electric
 
NaturalGas
 
Total
 
Electric
 
NaturalGas
 
Total
 
Electric
 
NaturalGas
 
Total
Balance at beginning of period
$
1,098

 
$
1,923

 
$
3,021

 
$
972

 
$
625

 
$
1,597

 
$
(7,345
)
 
$
(2,383
)
 
$
(9,728
)
Changes during period
 
 
 
 
 
 
 
 
 
 
 
 

 

 
 
Realized and unrealized energy derivatives:
 
 
 
 
 
 
 
 
 
 
 
 

 

 
 
Included in earnings1
34,604

 
—

 
34,604

 
2,781

 
—

 
2,781

 
4,007

 
—

 
4,007

Included in regulatory assets / liabilities
—

 
6,075

 
6,075

 
—

 
6,346

 
6,346

 
—

 
4,312

 
4,312

Settlements2
(33,067
)
 
(7,197
)
 
(40,264
)
 
(6,549
)
 
(6,372
)
 
(12,921
)
 
(1,129
)
 
(2,679
)
 
(3,808
)
Transferred into Level 3
(1,987
)
 
—

 
(1,987
)
 
523

 
(553
)
 
(30
)
 
(3,021
)
 
—

 
(3,021
)
Transferred out Level 3
714

 
872

 
1,586

 
3,371

 
1,877

 
5,248

 
8,460

 
1,375

 
9,835

Balance at end of period
$
1,362

 
$
1,673

 
$
3,035

 
$
1,098

 
$
1,923

 
$
3,021

 
$
972

 
$
625

 
$
1,597

_______________
1 
Income Statement classification: Unrealized (gain) loss on derivative instruments, net. Includes unrealized gains (losses) on derivatives still held in position as of the reporting date for electric derivatives of $1.1 million, $1.5 million and $2.0 million for the years ended December 31, 2018, 2017 and 2016, respectively.
2 
The Company had no purchases, sales or issuances during the reported periods.
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Table Text Block]
Below are the forward price ranges for the Company's commodity contracts, as of December 31, 2018:

Puget Energy and
Puget Sound Energy
Fair Value
 
 
 
 
 
Range
(Dollars in Thousands)
Assets1
 
Liabilities1
 
Valuation Technique
 
Unobservable Input
 
Low
 
High
 
 Weighted Average
Electric
$4,522
 
$3,160
 
Discounted cash flow
 
Power Prices (per MWh)
 
$11.35
 
$66.45
 
$29.63
Natural gas
$3,485
 
$1,812
 
Discounted cash flow
 
Natural Gas Prices (per MMBtu)
 
$1.84
 
$5.80
 
$3.18
_______________
1 
The valuation techniques, unobservable inputs and ranges are the same for asset and liability positions.
Below are significant unobservable inputs used in estimating the impaired long term power purchase contracts' fair value in 2018 and 2017:

Puget Energy
 
 
 
 
 
 
 
Valuation Date
Contract
Unobservable Input
Low
 
High
 
Average
March 31, 2018
Wells Hydro
Power prices (per MWh)
$
9.69

 
$
25.30

 
$
17.50

 
 
Power contract costs per quarter (in thousands)
$
4,126

 
$
4,126

 
$
4,126

 
 
 
 
 
 
 
 
September 30, 2017
Wells Hydro
Power prices (per MWh)
$
14.06

 
$
26.86

 
$
22.24

 
 
Power contract costs per quarter (in thousands)
$
4,126

 
$
4,126

 
$
4,126

 
 
 
 
 
 
 
 
March 31, 2017
Wells Hydro
Power prices (per MWh)
$
8.76

 
$
26.70

 
$
20.86

 
 
Power contract costs per quarter (in thousands)
$
3,965

 
$
4,223

 
$
4,051

 
 
 
 
 
 
 
 
 
Rocky Reach
Power prices (per MWh)
$
8.53

 
$
48.21

 
$
27.69

 
 
Power contract costs per quarter (in thousands)
$
5,827

 
$
6,780

 
$
6,150

 
 
 
 
 
 
 
 
 
Priest Rapids RP
Power prices (per MWh)
$
13.70

 
$
29.38

 
$
23.14

 
 
Power contract costs per year (in thousands)
$
620

 
$
4,022

 
$
2,306
Schedule of Impaired Intangible Assets [Table Text Block]
n 2018 and 2017, due to decreases in forward power prices and decreases in forecasted revenue and cost estimates, the following impairments were recorded to the Company's intangible asset contracts, with corresponding reductions to the regulatory liability as follows:

Puget Energy
 
 
 
 
 
 
(Dollars in Thousands)
 
 
 
 
 
 
Valuation Date
Contract Name
Carrying Value
 
Fair Value
 
Write Down
March 31, 2018
Wells Hydro
$
4,302

 
$
2,395

 
$
1,907

Total 2018 Impairments
 
 
 
 
 
$
1,907

 
 
 
 
 
 
 
September 30, 2017
Wells Hydro
$
10,621

 
$
9,609

 
$
1,012

 
 
 
 
 
 
 
March 31, 2017
Wells Hydro
14,879

 
13,067

 
1,812

 
Rocky Reach
235,331

 
159,818

 
75,513

 
Priest Rapids RP
5,665

 
2,657

 
3,008

Total 2017 Impairments
 
 
 
 
 
$
81,345
Fair Value, Measurements, Recurring  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present the Company's financial assets and liabilities by level, within the fair value hierarchy, that were accounted for at fair value on a recurring basis and the reconciliation of the changes in the fair value of Level 3 derivatives in the fair value hierarchy:

Puget Energy and
Puget Sound Energy
Fair Value
 
Fair Value
At December 31, 2018
 
At December 31, 2017
(Dollars in Thousands)
Level 2
 
Level 3
 
Total
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
 
Electric derivative instruments
$
28,765

 
$
4,522

 
$
33,287

 
$
9,866

 
$
3,525

 
$
13,391

Natural gas derivative instruments
12,247

 
3,485

 
15,732

 
6,973

 
4,041

 
11,014

Total derivative assets
$
41,012

 
$
8,007

 
$
49,019

 
$
16,839

 
$
7,566

 
$
24,405

Liabilities:
 

 
 

 
 

 
 

 
 

 
 

Electric derivative instruments
24,124

 
3,160

 
27,284

 
46,623

 
2,427

 
49,050

Natural gas derivative instruments
28,660

 
1,812

 
30,472

 
34,926

 
2,118

 
37,044

Total derivative liabilities
$
52,784

 
$
4,972

 
$
57,756

 
$
81,549

 
$
4,545

 
$
86,094