Utility Plant (Tables)

12 Months Ended

Dec. 31, 2021

The following table presents electric, natural gas and common utility plant classified by account:


		Puget Energy				Puget Sound Energy
Utility Plant	Estimated Useful Life	December 31,				December 31,
(Dollars in Thousands)	(Years)	2021		2020		2021		2020
Distribution plant	20-65	$	7,488,629	$	7,028,731	$	9,026,042	$	8,592,720
Production plant	12-90	3,147,987		3,096,092		3,815,599		3,767,014
Transmission plant	43-75	1,556,666		1,494,781		1,663,559		1,601,731
General plant	5-75	746,758		697,501		773,662		726,327
Intangible plant (including capitalized software)1	3-50	797,691		779,767		788,240		770,317
Plant acquisition adjustment	N/A	242,826		242,826		282,792		282,792
Underground storage	25-60	43,391		39,498		56,820		52,927
Liquefied natural gas storage	25-60	12,628		12,628		14,498		14,498
Plant held for future use	N/A	46,020		45,929		46,172		46,081
Recoverable Cushion Gas	N/A	8,655		8,655		8,655		8,655
Plant not classified	N/A	316,933		384,794		316,933		384,794
Finance leases, net of accumulated amortization2	N/A	105,020		881		105,020		881
Less: accumulated provision for depreciation		(4,031,458)		(3,671,094)		(6,416,246)		(6,087,748)
Subtotal		$	10,481,746	$	10,160,989	$	10,481,746	$	10,160,989
Construction work in progress		870,204		712,204		870,204		712,204
Net utility plant		$	11,351,950	$	10,873,193	$	11,351,950	$	10,873,193

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1.Intangible assets include capitalized software and franchise agreements with useful lives ranging between 3-10 years and 10-50 years, respectively.

2.At December 31, 2021, and 2020, accumulated amortization of finance leases at Puget Energy and PSE was $2.6 million and $1.6 million, respectively.

Schedule of Jointly Owned Utility Plants

These amounts are also included in the Utility Plant table above. The Company's share of fuel costs and operating expenses for plant in service are included in the corresponding accounts in the Consolidated Statements of Income.


Puget Energy
Jointly Owned Generating Plants (Dollars in Thousands)	Energy Source (Fuel)	Company’s Ownership Share	Plant in Service at Cost		Construction Work in Progress		Accumulated Depreciation

Colstrip Units 3 & 4	Coal	25.00%	$	339,073	$	—	$	(153,950)
Frederickson 1	Natural Gas	49.85	63,210		—		(18,215)
Jackson Prairie	Natural Gas	33.34	42,736		471		(10,867)
Tacoma LNG	Natural Gas	various	—		484,299		—


Puget Sound Energy
Jointly Owned Generating Plants (Dollars in Thousands)	Energy Source (Fuel)	Company’s Ownership Share	Plant in Service at Cost		Construction Work in Progress		Accumulated Depreciation

Colstrip Units 3 & 4	Coal	25.00 %	$	597,009	$	—	$	(411,887)
Frederickson 1	Natural Gas	49.85	69,278		—		(24,283)
Jackson Prairie	Natural Gas	33.34	56,820		471		(24,952)
Tacoma LNG	Natural Gas	various	—		239,566		—

Schedule of Asset Retirement Obligations


Puget Energy and Puget Sound Energy	December 31,
(Dollars in Thousands)	2021		2020
Asset retirement obligation at beginning of the period	$	216,163	$	181,353

Relief of liability	(13,146)		(9,647)
Revisions in estimated cash flows	(46)		38,677
Accretion expense	6,070		5,780
Asset retirement obligation at end of period1	$	209,041	$	216,163

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1.Asset retirement obligations include $3.7 million and $7.4 million for Puget LNG held only at Puget Energy as of December 31, 2021, and 2020, respectively.