State Agency Opposes Puget Sound Energy Buyout

Law360, New York (June 20, 2008, 12:00 AM EDT) -- The state attorney general’s Public Counsel office on Wednesday urged the Washington Utilities and Transportation Commission not to approve the $7.4 billion acquisition of Puget Sound Energy Inc. by a consortium of private equity investors, saying the deal “exposes customers to an undue level of financial risk.”

The Public Counsel, which represents residential and small-business customers in utility rate cases, said that the sale would saddle consumers with the company’s inordinate debt and increase risk without providing any service-quality guarantees.

“Based upon our review, this sale,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.