Sierra Club calls on Oklahoma Gas and Electric Co. to stop using coal to generate electricity

Sierra Club members called on Oklahoma Gas and Electric Co. to phase out its coal power plants and use more renewable energy such as wind. Meanwhile, the state’s largest utility’s parent, OGE Energy Corp., held its annual shareholder meeting in Oklahoma City.

BY PAUL MONIES Published: May 18, 2012
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Local members of the Sierra Club called on Oklahoma Gas and Electric Co. Thursday to follow the lead of another state electric utility and phase out its last two coal-fired generating plants.

The group hired a...

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OG&E awaits rate increase decision

OG&E last year filed for a $73 million rate increase to recover costs. An Oklahoma Corporation Commission administrative law judge has yet to issue a recommendation to the elected commissioners. Several other groups, including the attorney general’s office and commission staff, recommended instead a rate cut of up to $57 million.

OGE Energy shareholders approved the election of seven board members to one-year terms. A shareholder proposal to allow a simple majority vote to change the company’s bylaws did not pass. The proposal failed because it didn’t receive a majority of all 98.5 million outstanding shares. However, it did receive a majority of the 84 million shares represented at the meeting.

The board of directors also declared a quarterly dividend of 39.25 cents per common share. The company has paid dividends for more than 260 quarters, or more than 65 years.

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