Oklahoma Corporation Commissioners were left with a lot of questions about tax deferment and the impact on consumers when they held a special meeting Monday regarding a Public Service Company rate case.
At the heart of the hearing was the question whether PSO could transfer tax benefits from consumers to stockholders.
Thomas Schroedter, President and attorney of Oklahoma Industrial Energy Consumers argued such a transfer would “harm” ratepayers and benefit out-of-state PSO shareholders. He contended, along with the AARP and the Petroleum Alliance of Oklahoma that any exception would literally resulted in a $58 million rate increase for PSO.
“We want ratepayers protected,” he implored during his presentation to the three corporation commissioners. He also objected to the recommendations of an Administrative Law Judge and said, ‘You’ve created a safe harbor.”
“PSO should not be allowed to profit from improper actions—they skewed information to the IRS.
Questions arose from commissioners Brian Bingman and Todd Hiett regarding the tax deferment plan and what would be the real impact on consumers and to PSO.
Commissioners decided to take the matter under further consideration.