PSO Reaches Settlement Agreement For Rate Hike

NewsOn6.com

UNDTAED – Public Service Company of Oklahoma said Friday it has reached a settlement agreement in its current rate case at the Oklahoma Corporation Commission.

It had proposed a plan that would raise the average customer's rates by about $4 a month, but the new plan will only mean about a .35 increase.

10/21/2010 Related Story: PSO Asks Oklahoma Corporation Commission For Large Rate Hike

Industrial customers were fighting the first plan. This new version will give them about a two-and-a-half percent decrease.

The Oklahoma Corporation Commission will hold a hearing on the new plan in early December.  If approved, the new rates would go into effect no later than the first billing cycle in February 2011.