Corporation Commission Nears Consensus In PSO Rate Case

Friday, August 31st 2007, 3:06 pm

By: News On 6

OKLAHOMA CITY (AP) -- The state Corporation Commission moved closer to an agreement Friday on a power company's request for a rate increase. But the increase may be significantly lower than the request made by Public Service Company of Oklahoma.

PSO says it needs nearly $48 million it says is needed to pay for more than $2 billion in new generation and distribution facilities. The company says the new facilities will be more efficient and will conserve energy.

The commission authorized Administrative Law Judge Jacqueline Miller to finalize an order in the rate request and Commissioner Jim Roth says the final increase could be much lower than what PSO is asking for.

Officials say the size of the increase won't be known until the judge factors in several items including PSO's authorized return on equity.

PSO raised its rates by just over $8.5 million in July pending a final decision on the request. That increase raised the average monthly bill for residential customers by $1.67.