In a month, Oklahoma Natural Gas will be before the Oklahoma Corporation Commission asking for a $11.8 million rate hike.
In a notice to its customers this week, ONG said its rate hike request will be heard June 11 at 1:30 p.m. before the Commission.
“The requested increase is necessary to recover increased business costs and natural gas infrastructure investments,” stated the utility in its notice. “Oklahoma Natural Gas has invested approximately $678 million since its last base rate increase, a general review with a test year ending March 31, 2015.”
ONG said the proposed increase would raise an average residential customer’s monthly service charge by approximately 96 cents or $11.52 annually. But it also said with a re cent base rate decrease, customer credits and in consideration of gas costs, it is estimated the average residential customer will pay $46.94 less in 2020 than in 2016.
The utility said it will continue to return to customers excess deferred income taxes as part of the company’s compliance with the Tax Cuts and Jobs Act of 2017. The excess deferred income tax amount for 2020 is more than $12.1 million which equates to $13.72 for an average residential customer. The one-time annual EDIT for 2020 will be paid in February 2021.