The Public Utility Division (PUD) of the Oklahoma Corporation Commission announced it has reached a proposed settlement with Public Service Company of Oklahoma (PSO) in PSO’s rate case.
PSO originally requested an $88 million overall rate increase, resulting in an estimated $7 monthly increase for the average residential customer. Under the settlement, the overall rate increase would be reduced to $46 million, or about $2.38 more per month for the average residential customer.
The settlement agreement was reached in negotiations that included PSO, PUD, the Oklahoma Attorney General, AARP, and Oklahoma Industrial Energy Consumers.
The proposed settlement agreement must be approved by the three-member Oklahoma Corporation Commission. It has yet to be determined when the proposed settlement will come before Commissioners.
The proposed settlement agreement can be found at http://imaging.occeweb.com/AP/CaseFiles/occ30208336.pdf