Merger is just fine with PSE workers

Puget Sound Energy employees said executives assured them at a companywide meeting Friday morning that their wages, benefits and staffing would stay the same.

Company leaders also told employees that the deal would not be like the 1997 merger that combined Puget Sound Power & Light and Washington Energy to create the Bellevue-based gas and electric utility. Longtime employees say they had to re-apply for their jobs during the earlier merger, and some weren't allowed to stay.

All employees interviewed outside company headquarters Friday afternoon were positive about the merger.

It's "probably going to be a good thing," said Jeff Rombauer, a 26-year employee and analyst in the accounting department.

Dave Compton, a training-program manager, said many employees were "pretty happy" that PSE's parent company, Puget Energy, is being bought for a 25 percent premium, boosting the value of employee-owned stock.

Compton just started his job a month ago, but he's not worried. "Everybody has been assuring everybody right down the line that no one need fear for their jobs," he said.

Some PSE customers weren't so pleased. They said they worried about the publicly traded company being bought by a private investment group, particularly one from outside the U.S.

"Is their heart and mind going to be with our community?" said Jim Dagnon, 67, of Bellevue.

Susan Barsch, 64, of Redmond, said she was already "disgusted" with PSE because of utility rates. Now she fears rates will go up further.

"It's an investment firm; they're not a public utility," Barsch said. "They're not going to be serving us. They're going to be making money."