PSO To Lower Fuel Charge Cost Starting With November Bill

PSO says it will be lowering the fuel charge in customers' November bills. 

In a news release, Public Service Company of Oklahoma says the move is because of a decline in forecasted natural gas prices. That decrease in fuel costs comes to $50 million. 

The utility says the decrease will offset the cost of the utility's installation of new Automated Metering Infrastructure [AMI] technology which costs customers $3.11 per month beginning in November. 

6/18/2014 Related Story: Rate Hike Settlement For PSO Smart Meters Announced

PSO annually adjusts the fuel cost passed on to customers each November to reflect increases or decreases in what the company spends on fuel used in generating electricity. Customers pay only for the cost of fuel used to provide the energy they consume. PSO does not profit from the amount customers pay for fuel. 

The utility says the net bill decrease will be slightly more than one percent.