Oklahoma Atty. Gen. Drummond reaches agreement with PSO over wind, solar power plan
On Thursday, Oklahoma Attorney General Gentner Drummond announced his office had reached an agreement with the Public Service Company of Oklahoma (PSO) over its wind and solar power plan.
The agreement would decrease PSO customer rates starting in 2026. PSO applied for approval of six capacity projects that will add an average of $1.95 per month for PSO customers for a few months in 2025. Due to production tax credits and reductions in fuel usage, the project is expected to reduce customer bills by $2.58 per month, resulting in a net rate decrease of $0.64.
If approved, the settlement agreement would allow PSO to add three solar farms and three wind farms that will provide nearly 1,000 MW of power production capacity. The six projects have a combined cost of $2.5 billion.
“With a project of this magnitude, it was imperative to put in place customer protections to safeguard Oklahoma ratepayers,” Drummond said. “I am pleased that this settlement will result in more capacity in times of need at cheaper rates for PSO customers.”
Customer protections outlined in the settlement include requests for proposals that include all types of energy sources; a cost cap of $2.47 billion to ensure cost overruns are not passed on to customers; production tax credits; a net capacity guarantee; gas procurement and storage provisions that ensure reliability and lower costs, and accountability provisions for PSO.
