Regulators approve $6.9 million rate cut for AEP-PSO customers

OKLAHOMA CITY (AP) -- State regulators approved a $6.9 million rate cut Monday for an electrical utility that serves a half-million customers, primarily in Tulsa and Lawton.<br/><br/>The average customer

Monday, May 2nd 2005, 4:54 pm

By: News On 6

OKLAHOMA CITY (AP) -- State regulators approved a $6.9 million rate cut Monday for an electrical utility that serves a half-million customers, primarily in Tulsa and Lawton.

The average customer of American Electric Power-Public Service Co. of Oklahoma would save $1.45 a month under the plan approved by the Oklahoma Corporation Commission. June billing statements will be the first under the new rate plan.

Under the agreement, the utility will not be allowed to ask for a rate adjustment until after February 15, 2006.

The commission also encouraged the utility to bury certain power distribution lines to give greater reliability to the system.

Originally, the utility had requested a $41 million rate increase.