The Oklahoma Corporation Commission is scheduled to begin hearings on OG&E’s request for a rate increase at 1:30 p.m., May 26, 2022, in Courtroom 301 on the Third Floor of the Jim Thorpe Building, 2101 North Lincoln Boulevard, Oklahoma City, Oklahoma 73105.
OG&E is seeking an annual increase of approximately $163.5 million, or 8.4 percent, to recover “increased business costs and electric infrastructure investments the company has made since 2012.” The increase, as proposed by OG&E, would raise a residential customer’s bill by 9 percent when compared to current rates. This equals approximately $9.98 per month on the average residential customer bill. As proposed by OG&E, general service customers would receive an average 9.9 percent rate increase.
The hearings will be conducted by the administrative law judge and begin at 1:30 p.m., and all interested persons may appear and provide comment at that time. After public comment has concluded, the hearing will be recessed and will resume at 8:30 a.m. June 14 and each subsequent business day as necessary for testimony and examination of parties’ witnesses. After the hearing concludes, the administrative law judge will file a recommendation and report for the commission to consider. The commission will ultimately issue a final order deciding all issues in the case.
For further information regarding the application, contact Kimber L. Shoop, P.O. Box 321, Oklahoma City, Oklahoma 73102, phone 405-553-3286, attorney for Oklahoma Gas and Electric Company or Kyle Vazquez, 405-522-2100, attorney for Public Utility Division, Oklahoma Corporation Commission, 2101 N. Lincoln Blvd., Oklahoma City, Oklahoma, 73105.
UPDATE: The company currently has a 55 percent profit margin, yet is still hoping to raise rates amid massive inflation. To break that down, every $100 you pay costs OG&E $45 and they rake in $55 of profit.