Board To Hear OG&E Rate Hike Request Monday

The Oklahoma Corporation Commission will meet on Monday and eventually decide whether or not to allow OG&E to raise electric utility bills. This week, the company cut its proposed increase by more than half, asking for a 6.6% rate increase, the largest since 2017.

Sunday, June 16th 2024, 1:30 pm

By: Storme Jones, News 9


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The Oklahoma Corporation Commission will decide on whether to allow OG&E to raise electric utility bills after hearing recommendations from an administrative law judge in a meeting on Monday.

This week, the company cut its proposed increase by more than half, asking for a 6.6% rate increase, the largest since 2017.

AARP Oklahoma submitted more than 3,700 letters from Oklahoma seniors to the Commission urging them to not raise the rate.

“I’m 76 years old living on social security and 10% veterans disability trying to pay bills alone,” one letter said. “I can’t afford the rate hike,” another said. “I’m just making social security and eating a little and paying my utility bills.”

“Whether it’s storm securitization, winter storm cost, higher fuel cost, it just seems like it’s a never-ending story of a rate increase after an increase by OG&E and many others,” Sean Voskuhl with AARP Oklahoma said.

This week, OG&E reduced their request from nearly $333 Million to $127 million, averaging out to $9.58 per residential customer. In the new request, OG&E backed off from asking for an additional $51 million to increase shareholder profits.

“Look at the profits that OG&E has, it’s $425 million last year,” Voskuhl said. “They’ve had tremendous profits the last several years and the customers have made them profitable the residential customers.”

The company declined News 9’s request for an interview to explain the increase, instead sending us bullet points saying the proposal includes a $60 senior discount, funds for tree trimming and forestry management, and improvements to generation sites and transmission lines.

“It’s hard to talk about the needs when you look at the profitability that they have,” Voskuhl said.

It will be up to the three members of the Corporation Commission on Monday to decide. If they give the proposal the green light, rates are set to increase next month.

“It’s not completely over with the settlement agreement but it is a setback,” Voskuhl said.

According to OG&E, if the rate increase is approved, Oklahoma electric bills will remain among the lowest in the country.

That corporation commission meeting is set for Monday morning at 9 a.m.

A representative from the Oklahoma Corporation Commission told News 9 that there is no set date for the commissioners' final decision on this case.

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