Local & Regional
9:59 am
Sat July 10, 2010

PSO Rate Review

Tulsa, OK – Okla. utility seeking rate review

TULSA, Okla. (AP) A utility company is seeking a rate review, saying its revenues are an estimated $52.4 million below its annual costs for delivering power.

American Electric Power-Public Service Co. of Oklahoma filed the request Friday with the Oklahoma Corporation Commission.

It doesn't seek an immediate rate case and hearing, instead seeking to delay proceedings until spring 2011 at the earliest.

According to AEP-PSO, if a rate increase is approved next year it would raise monthly rates by $3.83 for the average residential customer using 1,000 kilowatt hours per month.

The Corporation Commission approved AEP-PSO's latest rate increase, an $81 million annual hike, in January 2009.

It was less than the more than $120 million increase the utility initially sought.

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Information from: Tulsa World, http://www.tulsaworld.com