OG&E Plans to Seek Another Rate Hike

Monday, February 16th 2009, 7:29 am
By: News On 6

Associated Press 

OKLAHOMA CITY -- Oklahoma Gas & Electric Co. said it plans to ask state regulators for a rate hike of between $100 million and $110 million.

The request for a rate hike will be submitted around Feb. 26 and also will include a request for the Oklahoma Corporation Commission to boost OG&E's authorized return on equity from the current 10.75% up to 12.25%.

OG&E is the state's largest electric utility and serves more than 765,00 retail customers in Oklahoma and western Arkansas.

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