The Oklahoma Corporation Commission will get down to business on Thursday morning as the regulatory agency is expected to hear five motions from the state’s top legal eagle.
Oklahoma Attorney General Mike Hunter is seeking a rate reduction from several utility companies including Public Service Company of Oklahoma, Oklahoma Natural Gas, Oklahoma Gas & Electric, CenterPoint Energy and Arkansas Oklahoma Gas following recent congressional passage of corporate tax cuts.
Hunter anticipates that the utility companies will save nearly $100 million as a result of new legislation that lowers the highest corporate income tax rate from 35 percent to 21 percent.
“Oklahomans who are customers of these companies should immediately retain the benefits of the savings from the tax cut in the form of lower rates,” said Hunter, in a press release issued by his office. “We urge the OCC to act quickly and in the best interests of customers, not company shareholders.”
