Utility Plant (Tables)

12 Months Ended

Dec. 31, 2022

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


		Puget Energy				Puget Sound Energy
Utility Plant	Estimated Useful Life1	December 31,				December 31,
(Dollars in Thousands)	(Years)	2022		2021		2022		2021
Distribution plant	7-65	$	7,886,665	$	7,488,629	$	9,406,017	$	9,026,042
Production plant	3-90	3,131,578		3,147,987		3,780,910		3,815,599
Transmission plant	44-75	1,576,916		1,556,666		1,683,737		1,663,559
General plant	5-75	735,298		746,758		760,094		773,662
Intangible plant (including capitalized software)2	3-50	755,430		797,691		745,973		788,240
Plant acquisition adjustment	N/A	242,826		242,826		282,792		282,792
Underground storage	25-60	45,305		43,391		58,716		56,820
Liquefied natural gas storage	25-50	12,628		12,628		14,498		14,498
Plant held for future use	N/A	46,079		46,020		46,232		46,172
Recoverable Cushion Gas	N/A	8,784		8,655		8,784		8,655
Plant not classified	N/A	723,383		316,933		723,383		316,933
Finance leases, net of accumulated amortization3	N/A	99,967		105,020		99,967		105,020
Less: accumulated provision for depreciation		(4,341,789)		(4,031,458)		(6,688,033)		(6,416,246)
Subtotal		$	10,923,070	$	10,481,746	$	10,923,070	$	10,481,746
Construction work in progress		861,801		870,204		861,801		870,204
Net utility plant		$	11,784,871	$	11,351,950	$	11,784,871	$	11,351,950

_______________________

1.Estimated Useful Life years have been approved in the 2022 GRC.

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

3.At December 31, 2022, and 2021, accumulated amortization of finance leases at Puget Energy and PSE was $7.3 million and $2.6 million, respectively.

Schedule of Jointly Owned Utility Plants

Jointly owned generating plant service costs are included in utility plant service cost at the Company's ownership share. The Company provides financing for its ownership interest in the jointly owned utility plants. The following tables indicate the Company’s percentage ownership and the extent of the Company’s investment in jointly owned generating plants in service at December 31, 2022. These amounts are also included in the Utility Plant table above, with the exception of Puget Energy's portion of the Tacoma LNG facility, which is reported in the Puget Energy "Other property and investments" financial statement line item. 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%	$	321,767	$	—	$	(176,847)
Frederickson 1	Natural Gas	49.85	63,348		—		(21,894)
Jackson Prairie	Natural Gas	33.34	44,708		837		(12,178)
Tacoma LNG	Natural Gas	various	494,795		2,936		(10,922)


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 %	$	579,019	$	—	$	(434,099)
Frederickson 1	Natural Gas	49.85	69,415		—		(27,962)
Jackson Prairie	Natural Gas	33.34	58,716		837		(26,186)
Tacoma LNG	Natural Gas	various	245,690		503		(5,052)

Schedule of Asset Retirement Obligations


Puget Energy and Puget Sound Energy	December 31,
(Dollars in Thousands)	2022		2021
Asset retirement obligation at beginning of the period	$	209,041	$	216,163

Relief of liability	(6,867)		(13,146)
Revisions in estimated cash flows	1,519		(46)
Accretion expense	5,713		6,070
Asset retirement obligation at end of period1	$	209,406	$	209,041

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1.Asset retirement obligations include $3.8 million and $3.7 million for Puget LNG held only at Puget Energy as of December 31, 2022, and 2021, respectively.