PORT TOWNSEND — A Jefferson County Public Utility District takeover of Puget Sound Energy’s electric service would cost at least $77 million, and would raise local power rates by at least 19 percent, a PSE-contracted feasibility study reported.
“The key finding is a PUD takeover of the electric utility will not financially benefit customers in Jefferson County, and may in fact result in rate increases because of high costs and lost economies-of-scale involved in a takeover,” said the report made public Tuesday by Bob Bellemare, president and chief executive officer of UtiliPoint International Inc.
UtiliPoint has been working on the report for the past four months, starting shortly after Citizens for Local Power launched a petition signature drive to get the PUD power-service question on the Nov. 4 general election ballot.
