Oklahoma Natural Gas is warning customers it has applied for another rate hike that would add $2.57 to an average customer’s bill and total nearly $28 million.
In a letter to ONG customers, the utility said a hearing will be held June 5 at 9:30 a.m. before a Corporation Commission Administrative Law judge on the $27,635,039 rate hike request.
“The requested increase is necessary to recover increased business costs and natural gas infrastructure investments,” stated ONG in its notification letter.
ONG claimed it invested approximately $243 million since its last base rate increase.
“In addition, the company is requesting approval of the energy efficiency true-up and utility incentive adjustments for program year 2022 and modifications to its tariffs,” continued the letter.
ONG said that while it is asking for more money, it is complying with the Tax Cuts and Jobs Act of 2027 and will return to customers excess deferred in come taxes. The one-time annual EDIT credit for 2023 is $11,965,573, subject to true-up. It will also equate to $12.27 for an average residential customer. ONG said the one-time annual EDIT for 2022 will be paid in February 2024.
Meanwhile, ONG customers are paying another $5.28 a month in 2021 winter storm costs and they will continue for nearly the next 25 years.