The Oklahoma Supreme Court has now officially received the $800 million bond securitization case involving Oklahoma Gas and Electric and the Oklahoma Development Finance Authority.
A posting this week on the Supreme Court website indicated the case had been “assigned” to the court. No further details were offered in the posting.
A Supreme Court referee heard arguments in late January for and against the case involving ratepayer backed bonds to be sold by the ODFA to cover 2021 Winter Storm Costs experienced by OG&E.
The bond securitization, approved by the Oklahoma Corporation Commission on a 2-1 vote has been challenged by some OG&E consumers as well as former legislators. They argue the bond securitization act, approved last year by the Oklahoma legislature is in violation of the state constitution.
Since then, as OK Energy Today reported earlier in February, Justice Dana Kuehn recused herself from the case. She filed a one-sentence recusal but offered no explanation.
However, Financial Disclosure records on file with the Oklahoma Ethics Commission show Justice Kuehn has an ownership interest in a Tulsa firm identified as U.S. Payments.
The firm is contracted by OG&E in its paperless payment program and Justice Kuehn in her financial disclosure form stated, “I am a non-voting board member. I have an ownership interest. I also have a judicial ethics opinion agreeing that this appointment does not violate ethical rules.”
Kuehn, D 2021 Financial Disclosure Statement.pdf