Oklahoma regulators still deal with winter storm costs for utilities

Higher natural gas costs could hit electric bills | WPEC


The fallout from the February 2021 winter storm is still being felt by Oklahoma utilities and the Oklahoma Corporation Commission that regulates them.

Corporation Commissioners meet Thursday morning to review and hold possible votes on the requests of four utilities to allow for natural gas cost or fuel cost adjustments—adjustments that would likely increase the monthly costs to consumers.

Oklahoma Natural Gas made one such request—ECF Case No.PUD2021-000034. It is labeled as an “Emergency Application–for approval of a special regulatory treatment for abnormal gas supply costs arising from extreme winter weather.”

Documents filed by ONG claimed $1,284,101,405 in extreme gas purchase costs; $33,381,850 in extraordinary costs; $20,366,335 in carrying costs; and a total of $1,338,349,589.

Oklahoma Gas and Electric made a request as well—ECF Case No. PUD2021-000039. It seeks an Order of the Commission Approving Special Regulatory Treatment for Extraordinary Costs Arising from the Extreme 2021 Winter Weather Event of February 202.

OGE stated in a filing with the Corporation Commission that its total deferred costs were $750,396,969. It included $739,116,229 in total extreme gas and purchased power costs; and $11,280,740 in fees and carrying costs.

A request by Public Service Company of Oklahoma will also be considered….ECF Case No. PUD2021-000040. PSO wants approval for creation of a regulatory asset for the collection of “increased costs” caused by the extreme winter weather.

Total deferred costs cited by PSO were $687,131,941 including extreme purchase costs of $675,200,000, carrying costs of $11,231,941 and utility issuance costs of $700,000.

The fourth request is by CenterPoint Energy…ECF Case No. PUD2021-000042. It too wants help in recovering the cost of higher natural gas costs. The request is for Recovery of Extraordinary Gas Supply Costs Arising from Extreme Winter
Weather, according to the agenda.

CenterPoint offered detailed finances of $78,512,037 in total deferred costs. Its breakdown included 475,678,535 in extreme gas purchase costs; $411,781 in extraordinary costs; $1,921,721 in carrying costs; and $500,000 in utility issuance costs.

The corporation commission meeting will begin at 9:30 a.m.