The Oklahoma Corporation Commission has approved a settlement in the rate increase case involving the Public Service Company of Oklahoma.
PSO originally requested an $88 million overall increase, which would result in an estimated $7 monthly increase for the average residential customers. Under the settlement, the overall rate increase was reduced to $46 million, which will in about a $2.38 rate increase for the average residential customer.
Commission Chariman Dana Murphy called the settlement a "win-win" for both customers and PSO.
“The agreement is proof that in Oklahoma, parties with different agendas can reason together in a spirit of cooperation and collaboration with the ultimate goal being a result that benefits all,” Murphy said. “The settlement means Oklahoma will continue to be able to offer industry and residents alike reliable service at the lowest average cost in our region.”
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