CARES COVID-19 LIMITED GRANT FUNDS AVAILABLE. PUD 3 is a subrecipient of federal CARES funds from the County for PUD 3 residential customers who have suffered a financial hardship directly related to COVID-19. Funds are limited and available to qualifying applicants on a first come, first serve basis. Apply for the federal funds by filling out an application or calling PUD 3 customer service. The deadline to apply is November 10, 2020 and award payments will be applied as a credit to the eligible applicant's utility account by December of 2020. To learn more about eligibility, visit the PUD 3 Assistance Page. See how PUD 3 is responding to COVID-19 here.

CARES Online Application 

Mason PUD 3 Bond Sale Reduces Debt, Creates Long Term Savings

Mason PUD 3 Bond Sale Reduces Debt, Creates Long Term Savings

by Mason PUD 3 on

February 18, 2020

PUD 3's bond ratings strong, refinance successful

bank-note-941246_1920---square.jpg(SHELTON, WA) -- Two of the nation’s top bond rating firms have reasserted their high opinion of Mason PUD 3’s financial health. The endorsement led to an impressive bond sale in late January to refinance PUD 3 debt and create long-term savings for the utility.

With interest rates at historically low levels, PUD 3 refinanced its 2010B (Build America) Bonds resulting in present value savings of $10.4 million or 18.5% of the refunded bonds. Given the low-interest-rate environment, it was advantageous for the district to borrow new money to finance capital improvements with minimal impact on annual debt-service payments.

Standard & Poor’s (S&P) recently affirmed PUD 3’s A+ bond rating. Moody’s Investor Service maintained the PUD’s rating as AA3.

“High ratings from Standard and Poor’s, and Moody’s Investor Service – along with good timing – attracted a broad range of investors to our bond sale,” said Annette Creekpaum, Mason PUD 3 manager. “PUD 3 bonds are strong investments. We work hard for consistently strong financial performance and the maintenance of very low debt.”

PUD 3 has won 14 straight Government Finance Officers Association awards of excellence for its annual reports and has experienced over 38 consecutive years of excellent audits from the Washington State Auditor’s Office.

The PUD is a diamond-level Reliable Public Power Provider (RP3) in Washington State, as designated by the American Public Power Association (APPA). The PUD is also a “Smart Energy Provider,” so named by the American Public Power Association.

Mason PUD 3 has about 600 square miles of service territory, with nearly 34,000 electricity customers. PUD 3 also operates a wholesale fiber optic telecommunications network, which supports the operation of its electric distribution services.