OKLAHOMA CITY - Public Service Company of Oklahoma (PSO) electricity bills will show a slight decrease beginning in October.
OKLAHOMA CITY - Public Service Company of Oklahoma (PSO) electricity bills will show a slight decrease beginning in October.
PSO is lowering the fuel cost adjustment on customer bills during the October billing cycle.
“The reduction in the fuel cost adjustment is largely the result of continued lower prices for natural gas, which PSO uses to generate a substantial portion of the electricity used by our customers,” said Matthew Horeled, PSO Regulatory and Finance vice-president.
“Our fuel forecasts continue to show these lower prices going forward, which is good news for our customers,” he said.
FUEL COST ADJUSTMENT
The power company is prohibited by law from making a profit on the fuel it uses to generate electricity, and the cost savings realized when fuel prices are low are passed along to customers.
Electric bills will decrease between 2.9% and 19.2%, depending on customer class and usage. A residential customer who uses 1,100 kilowatt-hours a month will see a reduction of $3.68 due to this change.
Commercial and industrial customers could see up to thousands of dollars in savings.