Utility Plant (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents electric, natural gas and common utility plant classified by account:


		Puget Energy						Puget Sound Energy
Utility Plant	Estimated Useful Life	December 31,						December 31,
(Dollars in Thousands)	(Years)	2019		2018		2019		2018
Distribution plant	20-65	$	6,602,934	$	6,122,739	$	8,185,700	$	7,722,024
Production plant	12-90	3,066,792		3,099,805		3,743,493		3,974,250
Transmission plant	43-75	1,463,288		1,442,854		1,571,186		1,550,950
General plant	5-75	698,275		682,976		731,279		718,105
Intangible plant (including capitalized software)¹	3-50	735,826		662,328		726,383		652,942
Plant acquisition adjustment	N/A	242,826		242,826		282,792		282,792
Underground storage	25-60	37,511		35,404		50,963		48,874
Liquefied natural gas storage	25-60	12,628		12,628		14,498		14,498
Plant held for future use	N/A	46,233		39,384		46,385		39,536
Recoverable Cushion Gas	N/A	8,655		8,655		8,655		8,655
Plant not classified	N/A	316,923		239,857		316,923		239,857
Finance leases, net of accumulated amortization²	N/A	1,488		1,315		1,488		1,315
Less: accumulated provision for depreciation		(3,236,240)		(2,832,321)		(5,682,606)		(5,495,348)
Subtotal		$	9,997,139	$	9,758,450	$	9,997,139	$	9,758,450
Construction work in progress		591,199		550,466		591,199		550,466
Net utility plant		$	10,588,338	$	10,308,916	$	10,588,338	$	10,308,916

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1.Intangible assets include capitalized software and franchise agreements with useful lives ranging between 3-10 years and 10-50 years, respectively.

2.At December 31, 2019, and 2018, accumulated amortization of capital leases at Puget Energy and PSE was $1.0 million and $1.3 million, respectively.

Schedule of Jointly Owned Utility Plants

These amounts are also included in the Utility Plant table above. The Company's share of fuel costs and operating expenses for plant in service are included in the corresponding accounts in the Consolidated Statements of Income.


Puget Energy
Jointly Owned Generating Plants (Dollars in Thousands)	Energy Source (Fuel)	Company’s Ownership Share	Plant in Service at Cost		Construction Work in Progress		Accumulated Depreciation

Colstrip Units 3 & 4	Coal	25.00%	$	323,100	$	—	$	(138,827)
Frederickson 1	Natural Gas	49.85	61,820		—		(10,995)
Jackson Prairie	Natural Gas	33.34	36,837		119		(8,452)
Tacoma LNG	Natural Gas	various	—		362,684		—


Puget Sound Energy
Jointly Owned Generating Plants (Dollars in Thousands)	Energy Source (Fuel)	Company’s Ownership Share	Plant in Service at Cost		Construction Work in Progress		Accumulated Depreciation

Colstrip Units 3 & 4	Coal	25.00%	$	582,372	$	—	$	(398,099)
Frederickson 1	Natural Gas	49.85	67,888		—		(17,063)
Jackson Prairie	Natural Gas	33.34	50,963		119		(22,578)
Tacoma LNG	Natural Gas	various	—		162,820		—

Schedule of Asset Retirement Obligations


Puget Energy and Puget Sound Energy	December 31,
(Dollars in Thousands)	2019		2018
Asset retirement obligation at beginning of the period	$	182,203	$	191,176
New asset retirement obligation recognized in the period	—		501
Relief of liability	(12,449)		(4,750)
Revisions in estimated cash flows	5,922		(10,512)
Accretion expense	5,677		5,788
Asset retirement obligation at end of period¹	$	181,353	$	182,203

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1.Asset retirement obligations include $4.3 million and $1.7 million for Puget LNG held only at PE as of December 31, 2019, and 2018, respectively.