Puget Sound Energy raises gas and electricity rates

Electricity rates will increase by 3.34 percent this year for Puget Sound Energy customers, and natural gas rates will also go up 1.55 percent.

The rate hike is part of a multiyear rate plan approved by state regulators on Tuesday. The plan raises electric and gas rates put in place on July 1, but will limit increases over the next three to four years.

A PSE customer using 1,000 kilowatt hours of electricity each month can expect to see their electric bill increase by $3.24 a month for a total of $100.33 a year. Natural gas customers using 68 therms a month would pay $1.28 a month more for a total of $77.89 a year.

During the next three to four years, the company will be allowed to increase rates by a maximum of 3 percent of PSE’s annual revenue with any excess amounts above the 3 percent recovered in the following year.

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