Oklahoma utility company customers will pay more due to 2021 winter storm
Customers of the Public Service Company of Oklahoma will now pay more for their monthly utilities due to the February 2021 winter storm.
The Oklahoma Corporation Commission said the Oklahoma utility company can recoup winter storm fuel costs by applying that cost directly to consumers.
According to a statement from the state corporations commission, the cost would have been about $476 per customer, but the state has a securitization law.
This law makes sure that they cannot force consumers to pay so much money at one time.
What they plan to do is spread that bill over 20 years, which means customers will be paying an extra $4.06 every month.
In a statement, Commission Chairman Dana Murphy explained how they could prevent this from happening again.
“It is vitally important that all possible steps be taken to reduce the risk of a repeat of the turmoil in the natural gas market last February. It is a market which escapes the authority of the OCC. Murphy continued,
“Federal authorities and the Oklahoma Attorney General are investigating this market, and the OCC will continue to work with regulated utilities on steps that may be taken to improve their fuel supply planning.”
The utility company said the total amount owed by consumers for the 2021 winter storm was more than $675 million.