FOR IMMEDIATE RELEASE
Approval of PSO Rate Agreement Keeps Prices Competitive, Keeps Grid Improvements on Track
TULSA, OK, Dec. 28 – A settlement in Public Service Company of Oklahoma’s (PSO) rate review was approved today by the Oklahoma Corporation Commission (OCC). Under the agreement, PSO will continue to make system investments needed to improve and maintain a safe, secure and reliable electric grid.
The commission’s order found that the settlement is “fair, just and reasonable.”
PSO’s current prices are based on 2018 expenses and even with this adjustment, rates will remain at or below state, regional and national averages. The monthly bill of a residential customer who uses 1,100 kWh/month would increase $5.07 or less than 5%.
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“We appreciate the thorough review and constructive work of the Corporation Commission and all the parties involved in the case,” said PSO President and Chief Operating Officer Peggy Simmons. “We recognize that increasing costs for products and services are concerning and all of us at PSO are committed to balancing affordability and reliability for the service we provide.”
PSO Corporate Communications
PSO, a unit of American Electric Power (Nasdaq: AEP), is an electric utility company serving more than 562,000 customer accounts in eastern and southwestern Oklahoma. Based in Tulsa, PSO owns approximately 3,800 megawatts of generating capacity fueled primarily by natural gas. It also maintains and operates 22,000 miles of distribution lines and 3,700 miles of transmission lines. PSO is one of the largest distributors of wind energy in the state. News releases and other information are at www.PSOklahoma.com. Connect with us on Facebook, Twitter, NextDoor and Instagram @PSOklahoma.