TULSA, Okla. — OGE Energy Corporation filed an application with the Oklahoma Corporation Commission to recover fuel costs associated with the recent winter weather event and minimize the impact on customer bills.
“Natural gas demand rose dramatically during the recent winter weather, which, combined with severe supply issues, caused a significant escalation in prices,” said Brian Alford, OG&E spokesman. “We estimate the cost to support our customers’ demand during the record low cold temperatures to be approximately $1 billion in terms of natural gas and purchased power. To add perspective, this amount exceeds our total fuel costs for all of last year.”
“Our normal recovery process would create an excessive burden for our customers because it would require us to recover the fuel costs over the remainder of 2021. We do not want that, so we are taking this unprecedented step to ask the Oklahoma Corporation Commission to extend the recovery period to 10 years instead of a few months. This alternative approach will keep costs down for customers and support State leaders' efforts to lessen the burden on Oklahomans,” Alford said.
Separate from fuel costs, Oklahoma residential customers may also see a one-time increase in the February bill due to increased usage during the intense cold. The amount will vary based on factors such as how a customer heats their home – electricity versus natural gas, which is the primary heating source in Oklahoma.
The company plans to file its testimony in the proceedings within the next few weeks.
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