Press Releases

PSO’S Requested Rate Hike to Hurt Job Creators in Oklahoma
 
2014-04-25

TULSA, OKLA. -  Oklahoma Industrial Energy Consumers (OIEC) filed testimony with the Oklahoma Corporation Commission in response to PSO’s request for a $45 million rate hike. In its testimony, OIEC provided evidence showing that PSO’s rate increase is overstated and that an approximate $22 million rate REDUCTION is justified to keep our electric rates competitives and not hurt job creators and businesses in our state.

“PSO is seeking an 18% increase in base rates for many of its industrial customers which PSO has not justified and which is not appropriate based on the evidence presented today,” said Tom Schroedter, Executive Director of OIEC, an association of companies that advocate for the lowest, reasonable energy costs. “PSO’s rates should be reduced to help business prosper in this state as recommended by OIEC’s experts, rather than increased,” said Schroedter.

To protect Oklahoma’s industrial customers from PSO’s proposed base rate increase, OIEC has filed the expert testimony of three witnesses, urging that the Commission adopt adjustments to PSO’s requested revenue requirement and related rate increase. The adjustments recommended by OIEC consist of (i) $18 million resulting from OIEC’s recommended and reasonable 9.25% return on equity for PSO; (ii) $27 million worth of adjustments to PSO’s proposed depreciation rates and (iii) $23 million worth of accounting adjustments which update PSO’s requested investment and expense levels to actual experienced levels.

OIEC represents industrial and other large energy consumers whose members employ tens of thousands of Oklahomans. The organization works for just and reasonable rates for OIEC member companies. OIEC has been active on behalf of industrial and other large consumers of energy for more than 15 years. For more information on OIEC, call Tom Schroedter at 918-594-0400 or visit www.oiec.org.

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