Utility Plant (Tables)

12 Months Ended

Dec. 31, 2012



		Puget Energy						Puget Sound Energy
Utility Plant	Estimated Useful Life	At December 31,						At December 31,
(Dollars In Thousands)	(Years)	2012			2011			2012			2011
Electric, gas and common utility plant classified by prescribed accounts :
Distribution plant	10-50	$	4,276,123		$	4,552,087		$	5,993,055		$	6,279,340
Production plant	25-125	2,480,135			1,618,196			3,464,528			2,616,855
Transmission plant	45-65	984,018			391,080			1,108,104			516,461
General plant	5-35	445,982			402,309			543,195			499,559
Intangible plant (including capitalized software)	3-50	181,884			152,025			181,596			187,948
Plant acquisition adjustment	7-30	242,659			211,807			282,624			251,772
Underground storage	25-60	27,331			27,139			40,987			40,815
Liquefied natural gas storage	25-45	12,622			12,622			14,492			14,492
Plant held for future use	NA	18,416			18,381			18,568			18,534
Recoverable Cushion Gas	NA	8,655			8,514			8,655			8,514
Plant not classified	NA	155,626			38,998			155,625			38,999
Capital leases, net of accumulated amortization ¹	1-5	24,629			32,208			24,629			32,207
Less: accumulated provision for depreciation		(1,067,424		)	(674,783		)	(4,045,402		)	(3,714,913		)
Subtotal		$	7,790,656		$	6,790,583		$	7,790,656		$	6,790,583
Construction work in progress	NA	766,035			1,282,462			766,035			1,282,462
Net utility plant		$	8,556,691		$	8,073,045		$	8,556,691		$	8,073,045

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¹	Accumulated amortization of capital leases at Puget Energy was $7.6 million in 2012 and $5.7 million in 2011. Accumulated amortization of capital leases at PSE was $7.6 million in 2012 and $5.7 million

Schedule of Jointly Owned Utility Plants

These amounts are also included in the Utility Plant table above.



				Puget Energy’s Share					Puget Sound Energy’s Share
Jointly Owned Generating Plants (Dollars in Thousands)	Energy Source (Fuel)	Company’s Ownership Share		Plant in Service at Cost		Accumulated Depreciation			Plant in Service at Cost		Accumulated Depreciation
Colstrip Units 1 & 2	Coal	50	%	$	148,075	$	(6,152	)	$	284,692	$	(142,768	)
Colstrip Units 3 & 4	Coal	25	%	217,899		(22,459		)	496,267		(300,827		)
Colstrip Units 1 – 4 Common Facilities ¹	Coal	various		83		(14		)	251		(182		)
Frederickson 1	Gas	49.85	%	61,779		(2,030		)	70,712		(10,964		)

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¹	The Company’s ownership is 50% for Colstrip Units 1 & 2 and 25% for Colstrip Units 3 & 4.

Schedule of Asset Retirement Obligations

The following table describes all changes to the Company’s ARO liability:



	At December 31,
(Dollars in Thousands)	2012			2011
Asset retirement obligation at beginning of period	$	26,540		$	25,416
New asset retirement obligation recognized in the period	7,737			350
Liability settled in the period	(2,960		)	(1,722		)
Revisions in estimated cash flows	12,632			1,154
Accretion expense	1,547			1,342
Asset retirement obligation at end of period	$	45,496		$	26,540

- Definition

Tabular disclosure of proportionate interests in jointly owned utility plants. Includes the amount of plants in service, the accumulated provision for depreciation (if available), the amount of plants under construction, and the proportionate share. The amounts presented may be further subdivided to show amounts applicable to plant subcategories (for example, production, transmission, distribution). Includes statements that the amounts represent the utility's share in each joint plant and that it must provide its own financing. Information concerning two or more generating plants on the same site may be combined. States that the utility's share of direct expenses of the joint plants is included in the corresponding operating expenses on its income statement (for example, fuel, maintenance of plant, other operating expense). If the share of direct expenses is charged to purchased power, then disclose the amount so charged and the proportionate amounts charged to specific operating expenses on the records maintained for the joint plants.

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