The Oklahoma Corporation Commission has approved a lower rate increase than asked for by Public Service Company of Oklahoma. It came Thursday on a 2-1 vote to allow PSO a $14 million rate hike, far below the $130 million the company asked for when it filed a request in July 2015.
Commissioners Bob Anthony and Dana Murphy voted for the smaller rate hike while Commissioner Todd Hiett was against it.
The move paves the way for a refund for PSO customers since the utility put a $75 million rate hike into effect in January after the commission failed to make a vote within 180 days.
“We are disappointed that the commission’s order did not grant PSO adequate revenues to reflect the investments we’ve already made and the expenses we’ve incurred to serve our Oklahoma customers,” said Tiffini Jackson, a spokesman at PSO.
But the commission’s decision was defended by Sean Voskuhl, state director of AARP Oklahoma.
“The whole issue around utility companies instituting higher interim rates and holding back fuel adjustment refunds from customers needs to be reviewed. Many low-income seniors are already having to make tough decisions when it comes to the basics such as food, medicine and housing and PSO needs to stop treating their customers as piggy banks.”