OG&E and PSO propose new rate analysis for more predictability - KTUL

OG&E and PSO propose new rate analysis for more predictability | KTUL

TULSA, Okla. (KTUL) — OG&E along with PSO argue that by switching to a new form of rate analysis, costs could be spread out more evenly rather than your bill jumping up every once in a while.

They argue it creates more predictability for customers and investors.

"More frequent rate reviews also benefit customers by breaking up the significant investment tranches oh gee makes every year. Under the traditional system, investment tranches accumulate, resulting in larger rate adjustments to recover those investments. Already mentioned we could spend up to a billion dollars every single year. Supplementing traditional rate reviews with annual PBR reviews makes these tranches smaller and the resulting rate adjustment smaller." said Kimber Shoop, Director of Regulatory Affairs for OG&E.

But opponents including several large names in Oklahoma, like Walmart for example are opposed to changing the way things currently operate.

Opponents say based on how other states have operated, yes rate increases have been smaller, but they've also been continually increasing with no end in sight.

"Our cost per kilowatt hour in Oklahoma from OG&E and PSO has gone up just under 60% since 2020. So we are not in a low-cost period where we can just, you know, make changes and not be cognizant that it may incur increased customer bills," said Steve Chriss, Walmart's Senior Director of Utilities.

Walmart is again just one of several large companies voicing their concerns about what this could mean for their electric bills in the future.

At this point, it's just a discussion, nothing is being passed into law yet.