OGE Energy Corp. boasts Oklahoma's largest electric utility and a midstream company with 8,000 miles of intrastate gas gathering and transportation pipeline, but CEO Pete Delaney credits OGE's employees for its success.
Delaney said OGE's 3,500 employees, known internally as members, are devoted to “working together toward our common objective of being the industry leader in helping customers, developing our workforce and delivering shareholder value.”
Such drive likely propelled OGE to No. 10 on this year's Oklahoma Inc. list with a 42.2 percent increase in total returns.
OGE reported record earnings in 2010, as the company embarked on an ambitious $1.4 billion growth program.
The company's utility subsidiary, Oklahoma Gas and Electric Co., currently is in the middle of a $366 million project to update its power grid with smart technology. The company is installing smart meters for about 780,000 customers in Oklahoma and Arkansas.
Smart grid technology is expected to help OG&E customers save money if they tailor their electricity use to avoid peak hours, when power is more expensive.
The new system also is expected to significantly lower the company's operational costs. Other additions to the smart grid will make OG&E's power grid more reliable and efficient, the company said.
“Our customers have responded well to smart meter deployment although many of the benefits are yet to come,” Delaney said. “The full benefits will not be realized until we have fully deployed and integrated all of the systems associated with operating a ‘smarter' grid.”