Decision Due On Utilities Merger

State regulators are set to announce Wednesday whether they’ll approve the merger of two of Washington’s largest electric and gas utilities: Puget Sound Power & Light Co. and Washington Energy Co.

If approved by the Utilities and Transportation Commission, the new company would be named Puget Sound Energy and would serve 870,000 electric customers and 500,000 natural gas customers in Western Washington.

It also would have an immediate impact on power bills: Electric rates would decrease by 3.24 percent as early as next Tuesday.

The companies have estimated the merger would save them about $370 million over 10 years by reducing their combined work force of more than 3,000 employees by an as yet undetermined amount. About 300 workers in both companies have accepted buyout packages, and most of the remaining employees will have to reapply for their jobs, Puget Power spokeswoman Kristen Wappler said.