Public Service Company of Oklahoma is giving its customers an early Christmas gift but one that won’t take effect until next month—lower utility bills.
The Tulsa-based company said cusstomers will see a “substantial” reduction on the fuel portion of bills starting in January. The lower bills are the result of reduced natural gas prices and PSO’s investments in fuel-free generating facilities.
The monthly bill of the typical residential customer who uses 1,100 kilowatt-hours per month will go down $15.53 or 11%.
PSO does not profit on fuel purchased to run generating facilities. When prices fall, PSO passes the savings along to customers, according to the announcement.
“Recent high fuel costs have been challenging for many of our customers, and we’re happy that lower prices and our investments in fuel-free power will ease those energy expenses,” said PSO President and Chief Operating Officer Leigh Anne Strahler.
“In the world of commodity prices, what goes up, can come down. It did, and our customers are going to benefit.”
PSO stated that for more than a decade, its residential prices have consistently been at or below regional and national averages. PSO offers a variety of programs to help eligible customers manage
their energy costs comfortably, including free weatherization, rebates, incentives, and payment programs.