Public Service Company will have to wait another week before officially learn whether Oklahoma Corporation Commissioners take formal action to support its $730 million acquisition of the Green Country Power Plant in Jenks.
It is an acquisition that will mean another rate hike for PSO customers, one totaling an estimated $7.24 more a month. Commissioners, in a special meeting on Thursday informally agreed to PSO’s request for “preapproval” of the acquisition that was announced last fall.
“I believe PSO has met the minimum statute requirements,” declared Commission Chair Kim David as she attended the meeting from a remote site at the Commission’s Tulsa office. Her comments are in contradiction to the Commission’s Administrative Law Judge Carly Ortel who recommended denial of the preapproval, saying PSO had not met competitive bidding requirements. Her recommendation had the support of the Commission’s Public Utilities Division as well as the Oklahoma Industrial Energy Consumers, the AARP and the Oklahoma Petroleum Alliance. But commissioners indicated last week they supported PSO and planned to move ahead with their decision to allow the company to buy the plant.
Commissioner Todd Hiett expressed some reservations about a vote on Thursday.
“I’m hoping we delay a vote until next week,” he offered, saying he was concerned about “consumer protections.”
“I would want assurances those protections are included.”
Commissioner Brian Bingman added he had no issue with delaying a vote until next week, “but I think we’re headed in the right direction.”
In another issue, commissioners voted 3-0 to ask staff to prepare a “notice of emergency rulemaking” so the agency can meet the new law created by SB998 which Gov. Kevin Stitt allowed to become law without his signature. The measure allows utilities to use the CWIP or “construction while in progress” action which would result in ratepayers paying for projects while they are under construction.
“We’re already seeing some preapproval filings,” said David in raising the issue of the new law which will take effect sometime in mid-August.
Under the law, the commission will have only 180 days to respond to certain utility projects rather than the long-used 240 day regulatory requirement. The discussion focused on “when” commissioners want the rules ready for a vote and to be sent to the governor for his review and approval or denial.
Some questioned whether they could be available for a vote by June 16 but Mark Argenbright, Director of the Public Utility Division and Consumer Services requested more time.
“We could get them put together fairly soon but I’d like to have the full month of June with everything going on.”
Commissioners eventually voted approval to direct the staff to prepare the rules and issue a notice of emergency rulemaking no later than July 1.
