Customers of Public Service Company of Oklahoma will be getting a refund for the rest of the year following action on Wednesday by the Oklahoma Corporation Commission.
In a unanimous vote, the commission approved a $30 million reduction in PSO rates. The move resulted in a monthly saving of $6.08 for a PSO average customer.
The rate reduction request was prompted by Attorney General Mike Hunter after a federal tax cut was put into effect late 2017. The Tax Cuts and Jobs Act of 2017 slashed the federal corporate tax rate for 2017 from 35 to 21 percent.
After Wednesday’s decision, Hunter applauded the actions of the commissioners.
“We are gratified by the corporation commissioners, who voted unanimously on our request to return the tax savings to PSO customers,” said Hunter. “I appreciate the commissioners for studying this issue and doing what is in the best interest of rate payers.”after the meeting, commissioners stated they were gratified to have been able to make sure PSO customers are getting back what they are owed.