December 28, 2021
By News Director Jared Atha
The Oklahoma Corporation Commission held a regular meeting on Tuesday to handle a Public Service Company of Oklahoma rate hike request.
The meeting focused on PSO’s request to raise rates in which the utility contends it suffered from the COVID-19 public health crisis. The company says it experienced the biggest decline on record with a 4.9% drop in its gross regional product in 2020.
In testimony before the commission, PSO said measures implemented to address the COVID-19 pandemic not only created a significant drop in overall load for the company, but it also created a notable shift in the electricity sales mix.
In a press release issued by PSO officials shortly after the meeting, it appears that the OCC approved the increase.
PSO officials said under the agreement, PSO will continue to make system investments needed to improve and maintain a safe, secure and reliable electric grid.
The press release went on to say that PSO’s current prices are based on 2018 expenses and even with this adjustment, rates will remain at or below state, regional and national averages. The monthly bill of a residential customer who uses 1,100 kWh/month would increase $5.07 or less than 5%.
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