OG&E To Request Rate Increase

Monday, February 23rd 2009, 12:17 pm
By: News On 6

Associated Press

OKLAHOMA CITY (AP) -- Oklahoma Gas and Electric Co. officials say a rate hike they plan to seek will push consumer electric bills up by an average of $7 a month.

OG&E spokesman Brian Alford said Monday that the utility will ask the Oklahoma Corporation Commission for a rate hike of between $100 million and $110 million. the request will be formally filed on Thursday.

Utility officials expect commissioners to rule on the request in August and the company hopes the proposed hikes can be implemented in September.

Alford says the higher rates are needed to replace infrastructure like utility poles and transmission lines and to invest in new technology, including renewable energy like wind power.

OG&E is the state's largest electric utility with 770,000 retail customers in Oklahoma and western Arkansas.