ONG To Return $22 Million To Customers
OKLAHOMA CITY - Oklahoma Natural Gas customers should expected to see lower bills in 2019, according to the Attorney General, Mike Hunter.
The Oklahoma Corporation Commission voted in favor of an order that determines how the company will return money to customers from the federal tax cuts.
According to a news release, the order followed Attorney General Hunter's motion that asked for the state's leading investor-owned utility companies to return tax savings to customers.
ONG customers will receive $22.7 million in savings over the next year, a rate reduction of approximately $11 million plus $11.7 million in one-time credits from ONG's income tax saving after the federal income tax rate fell to 21 percents, officials said.
The average residential customer will see approximately $15 in savings in February an a smaller balance n subsequent months for the rest of the year.
Attorney General Hunter said the rate reduction and credit comes at a helpful time, with the coldest months of winter still ahead:
"Winter is one of the most expensive times of year for natural gas utility customers. Reducing rates and giving money back to customers will help a lot of Oklahomans. I commend the OCC commissioners, who approved this order. The state's leading utility companies have seen major savings since the tax cuts took effect. The savings represent a windfall, over-collected from customers that needs to be returned to them."
I appreciate the continued hard work and dedication of the staff in the Utility Regulation Unit in my office and everyone else who advocated for this money to go back to hard working Oklahomans."