PSO To Increase Fuel Charge

Public Service Company of Oklahoma will increase the amount it charges customers for fuel.

PSO said Thursday that the increase is due to the completion of a fuel charge refund during the past year that caused fuel charges to be lower than actual costs, and higher costs for natural gas and purchased power.

The new charges will begin with the November billing cycle and will cost an extra $9.47 per month for an average residential customer using 1,100 kilowatt hours of electricity during a month.

“We understand that any price increase can be a challenge for customers. However, since January, our customer fuel charges have been below market prices because of the refund.  Now, with the refund complete, and a modest increase in our forecasted fuel and purchased power costs, our fuel charges are returning to a level that reflects today’s actual costs,” said Scott Ritz, Customer Services and Marketing director.

PSO said it is prohibited from making a profit on fuel and power it purchases to generate electricity and passes on the actual cost to customers.

Tulsa-based PSO is a unit of American Electric Power and has about 545,000 customers in eastern and southwestern Oklahoma.

The Associated Press contributed to this report.