How fuel cost billing changes could affect you
Oklahoma's Corporation Commission is rethinking how electric utilities are compensated for fuel costs — again.
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What's next?
Conference to focus on issue
Andrew Tevington said he expects the Oklahoma Corporation Commission staff will schedule a technical conference on utility fuel cost compensation later this year.
Jeff Cloud, chairman of the commission, said the issue is worth a look.
"People are bearing the brunt of higher energy costs,” Cloud said. "If there is something we can do as a commission that could ease their burden, then we need to do it.”
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How it works
State law allows regulated electrical utilities to bill customers for the fuel they use to make electricity. The companies file annual fuel cost estimates to the commission, and make changes in customers' bills to recover the costs.
If fuel costs go up, then so do customers' bills. If fuel costs go down, then so do customers' bills. The changes happen unless the three corporation commissioners overrule the utility based on arguments from individuals or groups — including commission staff, which reviews the filings.
This year, both Oklahoma Gas and Electric Co. and the Public Service Co. of Oklahoma customers are seeing substantial increases in their monthly bills because of higher fuel costs for natural gas and coal.
What could change?
Utilities file fuel cost adjustments on an annual basis now.
But the commission and staff are asking whether it should be done more frequently.
Related Topics:
Business, Gas Prices
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