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A message to our customers about Securitization charges from 2021 Winter Storm Uri

September 7, 2022

PSO crews working at sunset

When winter storm Uri began to hit Oklahoma on February 9, 2021, it hit with a fury and intensity that few expected.  Most experienced meteorologists predicted mild February weather until just a few days before the storm arrived in Oklahoma.  PSO had prepared for the winter season by securing the natural gas and other energy supplies that had been reasonably necessary for typical Oklahoma winters. 

Natural gas and other energy supplies quickly became constrained due to the extreme persistent cold weather.  PSO made the choice to continue to put its customers safety and health first and paid the cost needed to keep the power flowing to our customers’ homes and businesses.

Natural gas costs that PSO pays to fuel our generation plants are directly “passed through” to the customer and are not subject to any sort of price manipulation.  Our Oklahoma laws make that clear.  Each PSO customer bill includes a line item for fuel cost.  That cost is adjusted up or down depending on the actual price of natural gas in the market.

Because of the historically high prices of natural gas and other power purchases from February 9 – 20, 2021, the Oklahoma Legislature created a bill that would spread out costs over multiple years so that no one Oklahoman would face an extreme cost due to this natural disaster.  Unlike Oklahoma, customers in unregulated states, like Texas, endured a deadly loss of power for days and faced skyrocketing electric bills that have doubled and continue to rise. 

Beginning in September, those spread-out costs for PSO customers will be incorporated into the monthly bill, estimated to be around $5 for the average residential usage.  Similar to how the normal process for how fuel costs are determined, over time, this monthly amount may be slightly adjusted up or down.

We are sensitive to customers' concerns and know that any change can be unsettling.  Please reach out to visit our payment assistance page to review all the available payment options.  PSO is committed to our customers and to finding reasonable solutions that are balanced and the right fit for Oklahoma.

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