Regulators OK $46 million PSO rate hike - KTEN.com - Texoma news, weather and sports

Regulators OK $46 million PSO rate hike

Posted: Updated:

OKLAHOMA CITY (AP) -- Oklahoma regulators have approved a $46 million annual rate increase for the state's second largest electrical utility.

The three-member Oklahoma Corporation Commission voted unanimously Thursday to approve the hike for Public Service Company of Oklahoma, which serves about 550,000 electrical customers in eastern and southwestern Oklahoma.

Texoma communities served by PSO include Atoka, Antlers and Hugo.

Under the $46 million agreement, the average residential customer will pay about $2.38 more per month for electrical service. PSO originally requested an $88 million rate hike, which would have increased residential rates an average of $7 a month.

PSO requested the rate increase in September to replace and upgrade infrastructure and invest in new technology to improve reliability and efficiency. Commission Chair Dana Murphy says the settlement agreement addresses reliable service as well as cost.

PSO's parent company is American Electric Power.

Copyright 2019 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 This material may not be published, broadcast, rewritten or redistributed.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.