OG&E $64 million rate cut is approved - KTEN.com - No One Gets You Closer

OG&E $64 million rate cut is approved

Posted: Updated:

OKLAHOMA CITY (AP) -- The Oklahoma Corporation Commission has approved a $64 million rate cut in utility bills proposed by Oklahoma's largest electric utility.

The commission voted 3-0 Tuesday to approve the cut that was agreed to following months of negotiations between Oklahoma Gas & Electric, the state Attorney General's Office, the commission's Public Utilities Division and others over a proposal filed by OG&E early this year to slightly increase its rates. The agreement factors in tax savings OG&E will receive after the federal corporate income tax rate was cut by Congress last year.

The agreement provides the average OG&E residential customer an estimated savings of nearly $19 in July. After that, the savings for the average residential customer will be about $4.44 per month.

The three-member commission met and voted Tuesday morning.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Submit a News Tip

    Do you have a news tip for KTEN?

    Begin by entering your email address in the field below or call 903-548-4010

    * denotes required fields
    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Your news tip has been submitted. If you provided contact information, we might use it to reach out to you if additional information is required.