Our Views: Puget backs off its pricing plan

Puget Sound Energy officials have wisely abandoned their quest to force utility customers to choose between a fixed electric rate or a variable rate.

The adjustable rate would have fluctuated based on power prices on the wholesale market and could have been above or below the fixed rate.

It was a unique pricing proposal that put a huge burden on ratepayers to determine when power prices are down and when they are up.

But what ratepayer has the time or know-how to track wholesale power rates on a daily basis?

They don't, and that was the fatal flaw in Puget's plan.

It's commendable that Stephen P. Reynolds, the company's new president and chief executive officer, backed off the variable pricing plan.

Puget's move helped resolve a couple of rate increase proposals before the state Utilities and Transportation Commission.

The first settlement calls for a three-month 8.3 percent surcharge on electric bills, down from Puget's original request of 21.6 percent.

The company also has trimmed its request for a permanent rate increase from 16.5 percent to 6.5 percent. Score a couple of victories for consumers.

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