Puget Power Looks For New Ventures
Puget Sound Power & Light Co. is considering alliances with other energy distributors, including a possible merger.
Richard R. Sonstelie, president and chief executive officer, said at the utility’s annual shareholders meeting Tuesday that the company is emphasizing two major business objectives for 1995.
One is to strengthen and expand the company’s distribution business and the other is to streamline its bulk power resources, possibly through alliances with other businesses.
Sonstelie said the company sees opportunities in a changing industry.
“Smart companies will clearly define what business is their core business,” Sonstelie said. “We have. Our vision is to be the Northwest’s leading provider of energy and related services to homes and businesses.”
He said the company could focus on alliances with other businesses to broaden energy distribution and provide related services.
Such an alliance was announced last week when Puget Power said it would form a new company with Metricom of California and Itron of Spokane to develop an automated meter-reading system.