The Oklahoma Corporation Commission on Wednesday unanimously approved an order directing the Public Service Company of Oklahoma to return approximately $428 million in deferred excess income taxes to customers.
The order also denied PSO's request that the company be allowed to keep a portion of the money over a claimed shortfall for some months.
“This is money that is owed customers as a result of the Tax Cuts and Jobs Act that took effect January 1,” said Murphy. “The Commission issued an order in the first week of January for all utilities to begin tracking the resulting over collection of taxes for refund to customers. I commend the company for moving promptly to do follow the order. However, there is no doubt this money should be returned to customers. Issues regarding any claimed shortfalls in the company’s income should be addressed in a rate case.”
It's estimated that the refund for the average residential customers will be $6 per month for 2018, officials said.
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