Oklahoma Gas and Electric Co. residential customers will see their bills drop by more than $3 in September under a ruling Monday by the Oklahoma Corporation
OG&E is paying the price for failing to have state regulators review its decision to extend a natural gas transportation contract with fellow OGE Energy Corp. subsidiary Enogex in 2009.
The Corporation Commission ordered OG&E to give customers a $4.2 million credit next month, while passing along an additional $3 million in savings through April 2013.
OG&E's Arkansas customers are expected to receive a refund as well.
Company spokeswoman Kathleen O'Shea said the settlement with regulators is part of a standard audit of fuel costs.
AARP Oklahoma applauded the commission's order forcing OG&E to pay a refund to its customers.
“It is important that consumers pay only what is fair and not more,” the group's Senior State Director Sean Voskuhl said.
Oklahoma Corporation Commission Chairwoman Dana Murphy said agency staff, the state attorney general and Oklahoma Industrial Energy Consumers rightfully raised objections to OG&E's newest contract with its corporate sibling.
“The refund will provide needed relief for consumers who have experienced abnormally high utility bills this summer due to the heat,” said Diane Clay, spokeswoman for Attorney General Scott Pruitt.
Monday's order also includes additional safeguards for OG&E customers, calling for an independent review of the company's future natural gas transportation and storage needs.
“The commission will review the alternatives next year, and make a determination to be sure the ratepayers are not paying more than necessary,” Commissioner Jeff Cloud said.