OKLAHOMA CITY (AP) -- The Oklahoma Corporation Commission has approved a $64 million rate cut in utility bills proposed by Oklahoma's largest electric utility.
The commission voted 3-0 Tuesday to approve the cut that was agreed to following months of negotiations between Oklahoma Gas & Electric, the state Attorney General's Office, the commission's Public Utilities Division and others over a proposal filed by OG&E early this year to slightly increase its rates. The agreement factors in tax savings OG&E will receive after the federal corporate income tax rate was cut by Congress last year.
The agreement provides the average OG&E residential customer an estimated savings of nearly $19 in July. After that, the savings for the average residential customer will be about $4.44 per month.
The three-member commission met and voted Tuesday morning.
Stay in touch with us anytime, anywhere.
Download our free app for Apple and Android and Kindle devices.
Sign up for newsletters emailed to your inbox. Select from these options: Breaking News, Severe Weather, School Closings, Daily Headlines and Daily Forecasts.