PSO Lowers Fuel Charge
Public Service Company of Oklahoma (), a subsidiary of American Electric Power, is reducing its charge to customers for the cost of fuel used to generate electricity. The June reduction in the fuel cost adjustment is largely the result of lower prices for natural gas and will help to mitigate and, in some cases, totally offset, the company’s annual return to on-peak prices, which also takes effect in June.
usually adjusts the fuel cost portion of customer bills once per year, in June, unless fuel costs change dramatically during the course of the year. When that happens, an adjustment to fuel factors is made. monitors fuel costs each month to determine whether an adjustment – up or down – in fuel cost recovery from customers is appropriate.
PSO’s on-peak prices are in effect annually from June through October. Off-peak rates apply the remainder of the year. The yearly switch to on-peak prices has been in effect for more than 35 years.
For a residential customer who uses 1,000 kilowatt-hours of electricity, the net result of the changes will be an increase in the bill from $90.20 to $94.21 or $4.01 per month.