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PSO drops power price

Updated:
TULSA, Okla. (AP) -- An electrical utility with more than a half million customers in Oklahoma is cutting its prices because of falling natural gas costs.

Public Service Company of Oklahoma said Wednesday its cutting prices by 13.7 percent and an average residential customer using one-thousand hours of electricity per month will save about $13.

About 60 percent of PSO's electricity is produced by natural gas plants and the price of natural gas has fallen since the fall of 2005. The prices rise dramatically after Hurricane Katrina damaged production facilities in the Gulf of Mexico.

PSO has about 514,000 customers in eastern and southwestern Oklahoma.
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