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.