Puget Sound Energy’s liquefied natural gas (LNG) plant is a speculative investment that has nothing to do with delivering power and natural gas to Puget Sound Energy (PSE) ratepayers (everyone on Vashon).

If the LNG plant is profitable, we ratepayers get nothing. If the $300 million plant goes bust, we ratepayers will be on the hook, and we will see massive increases in our utility rates. In other words, our utility rates will be attached to this venture’s investment risk. The MacQuarie Investment bank (owner of PSE) is looking to unload its investment in PSE. The Tacoma LNG plant is a MacQuarie ploy to get top dollar for PSE when they sell it. This is a clear case of privatizing profits — and socializing losses.

— Bob Kommer