Public Service Company of Oklahoma files $45 million rate increase proposal

TULSA - Customers of Public Service Company of Oklahoma could soon see a higher electric bill.

PSO, a subsidiary of America Electric Power, filed a request Friday with the Oklahoma Corporation Commission for a rate increase.

The company wants a 3.9 percent, or $45 million, increase.

It would average out to a $3.97 increase per month for residential customers.

“Even with this modest price increase, amounting to about one percent per year since our last base rate increase, PSO’s rates remain among the lowest in the United States,” said Stuart Solomon, PSO president and chief operating officer. “Together with service reliability that ranks among the best in the nation, PSO continues to provide great value for its customers.”

PSO said the increase is a result of investments the company made to its electric system infrastructure over the last three years, totaling more than $500 million. The company said the increase also reflects its plan to provide additional infrastructure improvements for its customers in the future.

PSO is willing to put the increase off until later this year after the peak summer energy season.

Some PSO customers, like Marianne Brett, said they don't mind paying a little more.

"It doesn't seem like that big a deal to me as long as they don't keep increasing it," said Brett.

No word on when the commission will decide whether to approve the increase.

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