Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Long-term Debt, Unclassified [Abstract]

Schedule of Long-Term Debt Instruments

The following table presents outstanding long-term debt due dates and principal amounts, net of debt discount, issuance and other costs and fair value adjustments as of 2021 and 2020:

(Dollars in Thousands)			December 31,
Series	Type	Due	2021		2020
Puget Sound Energy:
7.150%	First Mortgage Bond	2025	$	15,000	$	15,000
7.200%	First Mortgage Bond	2025	2,000		2,000
7.020%	Senior Secured Note	2027	300,000		300,000
7.000%	Senior Secured Note	2029	100,000		100,000
3.900%	Pollution Control Bond	2031	138,460		138,460
4.000%	Pollution Control Bond	2031	23,400		23,400
5.483%	Senior Secured Note	2035	250,000		250,000
6.724%	Senior Secured Note	2036	250,000		250,000
6.274%	Senior Secured Note	2037	300,000		300,000
5.757%	Senior Secured Note	2039	350,000		350,000
5.795%	Senior Secured Note	2040	325,000		325,000
5.764%	Senior Secured Note	2040	250,000		250,000
4.434%	Senior Secured Note	2041	250,000		250,000
5.638%	Senior Secured Note	2041	300,000		300,000
4.300%	Senior Secured Note	2045	425,000		425,000
4.223%	Senior Secured Note	2048	600,000		600,000
3.250%	Senior Secured Note	2049	450,000		450,000
2.893%	Senior Secured Note	2051	450,000		—
4.700%	Senior Secured Note	2051	45,000		45,000
*	Debt discount, issuance cost and other	*	(39,141)		(35,816)
Total PSE long-term debt			$	4,784,719	$	4,338,044
Puget Energy:
*	Fair value adjustment of PSE long-term debt	*	$	(156,849)	$	(165,357)
*	Revolving Credit Agreement	2023	33,300		14,700
*	Term Loan Agreement1	2022	—		210,000
5.625%	Senior Secured Note2	2022	—		450,000
3.650%	Senior Secured Note	2025	400,000		400,000
2.379%	Senior Secured Note	2028	500,000		—
4.100%	Senior Secured Note	2030	650,000		650,000
*	Debt discount, issuance cost and other	*	(7,404)		(4,947)
Total Puget Energy long-term debt			$	6,203,766	$	5,892,440

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*Not Applicable.

1.Term loan in the amount of $210.0 million was paid off on June 23, 2021.

2.5.625% Senior Secured Note in the amount of $450.0 million was classified on the Balance Sheet as current maturities of long-term debt as of July 31, 2021.

Schedule of Maturities of Long-Term Debt

The principal amounts of long-term debt maturities for the next five years and thereafter are as follows:

(Dollars in Thousands)	2022		2023		2024		2025		2026		Thereafter		Total
Maturities of:
PSE	$	—	$	—	$	—	$	17,000	$	—	$	4,806,860	$	4,823,860
Puget Energy	450,000		33,300		—		400,000		—		1,150,000		2,033,300
Total long-term debt	$	450,000	$	33,300	$	—	$	417,000	$	—	$	5,956,860	$	6,857,160