Major Eastern WA Power Utility Sells Operations, Leaving WA State

Fisher Investments, the leading financial wealth management company, left WA state a few years ago, citing an unfriendly business climate. A recent study from the Association of WA Business shows 44 percent of business owners have, or are considering moving their personal residence out of state. 17 percent are strongly considering relocating their business operations.

  Now, The 'Climate' Has Claimed Another Major Company

  Pacific Corp, who owns the subsidiary Pacific Power, announced Wednesday, February 18th, they are selling their WA operations to Portland General Electric.

They are selling their power generation and distribution 'assets' to PGE for a price of $1.9 billion dollars. It will take at least a year to finalize the transaction.

Pacific Officials said the move was necessitated by "diverging" energy policies.  Pacific Corp also serves customers in CA, Idaho, Oregon, Utah, and Wyoming besides WA.

Pacific Corp Serves Walla Walla, Benton County Areas

Of their 2.1 million total customers, 137,000 are in WA, mostly in and around Walla Walla and some in Benton County.

The diverging environmental policies they are referring to include the controversial Climate Commitment Act, which charges businesses a pollution tax just to stay in business.

Pacific Corp CEO Darin Carroll released a statement that read in part:

“This is a targeted step toward ensuring the continued delivery of safe, reliable power to our nearly two million customers in the West and Intermountain West."

Officials say the transition will be seamless, will not affect workers or power deliveries.

Not long ago, the Washington Utilities and Transportation Committee UTC) had approved a rate hike for the company, which raised a typical customer's utility bill about $10 a month.

Some business experts claim Pacific Corp is having to deal with wildfire liability costs, from a settlement with 1,434 plaintiffs related to 2020 fires in OR and CA.  While the court did not find Pacific Corps equipment, lines or or other infrastructure responsible, the company settled with them.

However, the uneven environmental playing field in WA state has made it much more difficult for them, and other utilities to operate.