Now Pacific Power has agreed to an even bigger deal. They are shedding their network assets in Washington and selling them to an unnamed buyer for nearly $1.9 billion. This agreement will transform the distribution infrastructure supporting PAL customers in Yakima, Walla Walla and surrounding regions. It’s a landmark turn in the way the region approaches their energy resources.
The contract includes a significant number of key amenities. These are just a few examples, along with the Chehalis thermal plant, the Marengo wind farm, and the Goodnoe Hills wind farms. These facilities play a critical role in protecting the nation’s energy generating and distributing capabilities. This transaction is essential for maintaining a stable local power supply.
Darin Carroll, a spokesperson for Pacific Power, stated, “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.” He elaborated that this transaction will “better align the costs, benefits and obligations across PacifiCorp’s diverse service areas and help create a more workable multi-state utility structure.”
Yet, this transaction will still take well over a year to close. In that time period, Pacific Power and the prospective buyer will work together to make the transition as smooth as possible for employees impacted by the change in ownership. This focus on employee transition is further evidence of Pacific Power’s commitment to protecting workforce stability during this transition.
For now, Pacific Power has the largest retail customer base in Yakima, Walla Walla and their outlying areas. This latest divestiture is an exciting and important step forward for the company and their clients. The distribution infrastructure included in the deal, poles, wires, substations and all, is the bedrock on which Duke’s ability to provide reliable energy services to these communities rests.