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PSO Bills To Go Down

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PSO, which is owned by American Electric Power, is paying less for natural gas. PSO, which is owned by American Electric Power, is paying less for natural gas.

The Associated Press

TULSA, OK -- Customers of Public Service Company of Oklahoma will have their bills reduced by more than $14 a month during the next 12 months.

Company spokesman Stan Whiteford says PSO, which is owned by American Electric Power, is paying less for natural gas.

He says that, and a federal ruling on how AEP allocates its profits from trading margins, means the utility will reduce its electric bills by an additional $130 million.

Whiteford says the cost reductions should be reflected in March bills. Natural gas has dropped from a cost of $12 per one million per British thermal unit last spring to a little more than $4 per Btu this year.

He says a residential customer using 1,000 kilowatt hours per month would have an average bill reduction of $14.56. Such a customer would have paid $82.28 a month before the reduction.

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