September 8, 2022
By News Director Jared Atha
The effects of winter storm Uri that hit Oklahoma in February 2021 is about to be seen in PSO customers bills.
According to a statement sent out by Public Service Company of Oklahoma, beginning this month spread-out costs for PSO customers will be incorporated into the monthly bill, estimated to be around $5 for the average residential usage. PSO said similar to how the normal process for how fuel costs are determined, over time, this monthly amount may be slightly adjusted up or down.
In the statement, PSO said by state law, natural gas costs that PSO pays to fuel generation plants are directly “passed through” to the customer and are not subject to any sort of price manipulation. Each customer bill includes a line item for fuel cost, and that cost is adjusted up or down depending on the actual price of natural gas in the market.
Because of the historically high prices of natural gas and other power purchases from February 9 – 20, 2021, the Oklahoma Legislature created a bill that would spread out costs over multiple years so that no one Oklahoman would face an extreme cost due to this natural disaster.
PSO also said unlike Oklahoma, customers in unregulated states, like Texas, endured a deadly loss of power for days and faced skyrocketing electric bills that have doubled and continue to rise.
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