OG&E says in order to fund its proposed Oklahoma Grid Enhancement Plan, they will be seeking a rate increase to recover increased business costs and electric infrastructure investments the company will make over the course of the five-year program.
The estimated total capital expenditure for the program is $810.2 million.
The Oklahoma Corporation Commission is scheduled to begin hearings on OG&E’s request for a mechanism to recover expenditures on October 8.
Residential ratepayers would shoulder a significant expense for the proposed $810 million project with virtually no benefit.
In testimony in May, OG&E conceded residential customers receive only two percent of the benefit.
AARP Oklahoma state president, Joe Ann Vermillion, said in May the proposed increase is needed for Oklahomans.
“While we support the need for reliable and affordable electricity, it is inconceivable to think that OG&E would ask seniors and other Oklahomans to bear the brunt of pet projects for which they would receive no benefit. More than ever, our seniors and those on fixed incomes must be protected from overzealous rate increases.”