OG&E customers' bills to rise about $2 a month after utility settlement with regulators

An OG&E crew repairs lines in the Heritage Hills neighborhood after severe storms.
An OG&E crew repairs lines in the Heritage Hills neighborhood after severe storms.

Oklahoma Gas and Electric customers will see an increase in their bills following an uncontested $30 million settlement with regulators to adjust base rates.

The average residential customer will see an increase on the monthly electric bill of about $2.07, or 1.9%, according to OG&E.

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The company said the settlement includes a monthly increase to the Low Income Assistance Program credit, a new low-cost pricing plan for electric vehicle owners, and a refund to customers related to a reduction in the state’s corporate income tax rate.

An Oklahoma Gas and Electric smart meter.
An Oklahoma Gas and Electric smart meter.

The settlement is still subject to final approval by the Oklahoma Corporation Commission, but OG&E can enact an interim rate hike while the review is pending. OG&E confirmed, in a release, plans for those rates to take effect Friday.

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OG&E said the increases will help pay for "ongoing infrastructure investments" that will help "harden, secure and modernize the electric grid."

"The settlement is a fair compromise that provides great benefits for our customers while allowing us to recover critical and necessary investments made to improve the electric grid," said Christi Woodworth, vice president of marketing and communications for OG&E.

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"All of these investments ultimately improve the customer experience by reducing the number and duration of outages, while modernizing the system as our service area continues to grow."

OG&E last implemented a hike on base rates in 2017.

This article originally appeared on Oklahoman: OG&E monthly bills to rise about $2 after settlement with regulators