Regulation and Rates (Tables)

12 Months Ended

Dec. 31, 2018

Regulation and Rates [Line Items]

Schedule of Net Regulatory Assets and Liabilities

The net regulatory assets and liabilities at December 31, 2018 and 2017, included the following:

Puget Sound Energy	Remaining Amortization Period	December 31,
(Dollars in Thousands)		2018					2017
Storm damage costs electric	4 to 6 years			118,331					128,508
Chelan PUD contract initiation	12.8 years			90,964					98,052
Environmental remediation	(a)			76,345					81,550
Lower Snake River	18.4 years			67,021					70,975
Decoupling deferrals and interest	Less than 2 years			65,779					98,769
Baker Dam licensing operating and maintenance costs	N/A			55,607					54,817
Deferred Washington Commission AFUDC	10 years			52,029					50,301
Property tax tracker	Less than 2 years			45,621					36,517
Unamortized loss on reacquired debt	1 to 28 years			42,378					39,674
Colstrip 1 & 2 Regulatory Asset	N/A			37,674					127,627
Energy conservation costs	(a)			30,701					35,538
Generation plant major maintenance, excluding Colstrip	4 to 10 years			15,027					17,216
PGA deferral of unrealized losses on derivative instruments	N/A			14,739					26,030
White River relicensing and other costs	3 years			12,966					19,502
Mint Farm ownership and operating costs	6.3 years			12,319					14,319
PGA receivable	1 year			9,922					—
Snoqualmie licensing operating and maintenance costs	N/A			7,407					7,341
Colstrip major maintenance	0.5 years			6,841					8,723
PCA mechanism	N/A			4,735					4,576
Colstrip common property	6.4 years			3,903					4,618
Ferndale	0.8 years			3,316					7,295
Electron unrecovered loss	Less than 1 year			—					3,786
Various other regulatory assets	(a)			14,583					17,382
Total PSE regulatory assets				788,208					953,116
Deferred income taxes(d)	N/A			(976,582		)			(1,012,260		)
Cost of removal	(b)			(424,727		)			(389,579		)
Treasury grants	20 years			(168,884		)			(205,775		)
Production tax credits	(c)			(93,616		)			(93,616		)
Accumulated provision for rate refunds	N/A			(34,579		)			—
Decoupling ROR excess earnings		—					(18,400	)
Decoupling deferrals and interest		(13,758	)				(7,896	)
Total decoupling liability	Less than 2 years			(13,758		)			(26,296		)
Summit purchase option buy-out	1.8 years			(2,888		)			(4,463		)
PGA payable	1 year			—					(16,051		)
Various other regulatory liabilities	(a)			(7,428		)			(10,544		)
Total PSE regulatory liabilities				(1,722,462		)			(1,758,584		)
PSE net regulatory assets (liabilities)				$	(934,254	)			$	(805,468	)

_______________

^(a)  Amortization periods vary depending on timing of underlying transactions.

^(b)  The balance is dependent upon the cost of removal of underlying assets and the life of utility plant.

^(c)  Amortization will begin once PTCs are utilized by PSE on its tax return.

^(d)  For additional information, see Note 14,"Income Taxes" to the consolidated financial statements included in Item 8 of this report.

Puget Energy	Remaining Amortization Period	December 31,
(Dollars in Thousands)		2018			2017
Total PSE regulatory assets	(a)	$	788,208		$	953,116
Puget Energy acquisition adjustments:
Regulatory assets related to power contracts	1 to 20 years	16,693			19,454
Various other regulatory assets	Varies	—			(8		)
Total Puget Energy regulatory assets		804,901			972,562
Total PSE regulatory liabilities	(a)	(1,722,462		)	(1,758,584		)
Puget Energy acquisition adjustments:
Deferred income taxes		608			634
Regulatory liabilities related to power contracts	1 to 35 years	(162,711		)	(174,918		)
Various other regulatory liabilities	Varies	(1,323		)	(1,314		)
Total Puget Energy regulatory liabilities		(1,885,888		)	(1,934,182		)
Puget Energy net regulatory asset (liabilities)		$	(1,080,987	)	$	(961,620	)

_______________

^(a)  Puget Energy’s regulatory assets and liabilities include purchase accounting adjustments under ASC 805.