OGE Energy Corp. will implement a $69.5 million interim rate increase as it awaits a decision from state regulators in its pending rate case, according to a news report published late Wednesday by The Oklahoman. The increase is effective Friday.
The move comes over six months after the company filed for a $92.5 million increase with the Oklahoma Corporation Commission. By statute, a utility may implement interim rates subject to refund if the OCC takes more than 180 days to complete its review and issue an order.
“While we await a final order in our rate case, we are implementing the interim rates to help cover the costs of operating the utility while we are, at the same time, able to offset the impact to customers’ overall bills through a fuel cost reduction,” said OGE spokesman Randy Swanson in a news release.
Monthly residential bills will increase by more than $7 if OG&E’s full $92.5 million rate increase is approved.