Even though a proposed Public Service Company rate hike won’t impact residential ratepayers for an estimated 18 months, the 15% impact it will eventually have was the concern of Oklahoma Corporation Commissioners during a Tuesday morning special meeting.
“It’s a huge rate impact on customers, and I’m very concerned,” remarked Commissioner Todd Hiett in his opening assessment of the proposed settlement by most groups with the exception of the AARP. “It’s a huge burden on top of many burdens—another $30 to $35 and it’s a significant increase.”
He suggested perhaps a cap should be implemented on residential rates.
“I’m concerned too,” expressed Commissioner Kim David. It’s a steep increase for residents.”
Deputy Attorney General Chase Snodgrass reminded commissioners that in the last rate case for PSO, “there was runaway inflation” and the impact on residential customers was lowered….now the bill has come through.”
He explained customers will be getting a year and a half where there will be no ochange in base rates.
“If we continue to delay the bill,the mpact could be bigger at a later rate case,” he added, explaining PSO will file another rate case Jan. 1 of 2026.
But the hearing was intended to focus on the stipulated settlement agreement, of which AARP was not a party. However, AARP had filed a challenge to the agreement, described by Oklahoma Industrial Energy Consumers attorney Thomas Schroedter as “an 11th hour request.”
Schroedter said the provisions of the settlement were dependent on one another and if a cap on rates, as suggested by Commissioner Hiett were adopted, “We would not have agreed to the stipulation.”
“If you impose a cap, we will withdraw from the settlement,” said Schroedter.
In the end, commissioners adjourned their meeting without taking any action.
