Oklahoma Gas & Electric Company announces fuel cost recovery reduction
Oklahoma Gas & Electric Company (OG&E) recently announced that it will reduce its monthly fuel cost recovery effective with the first customer billing cycle in April due to lower natural gas costs and substantially decreased energy grid congestion.
On average, residential customers in Oklahoma will see their bills reduced by $13.34 per month.
“We believe these lower congestion costs are a result of new technology that has improved the flow of electricity on the grid,” OG&E spokesman Brian Alford said. “We also recently completed construction of a high-voltage transmission line into northwest Oklahoma, which further alleviates wind-related bottlenecks.”
OG&E noted that it passes the cost of fuel on to customers, which appears as a line item on customer bills, without earning any profit. The company also stated that it periodically reviews its fuel costs to avoid over-collecting and under-collecting of fuel recovery costs.
