Oklahoma Natural Gas Consumers to See Uri Rate Relief

Oklahoma regulators approved to lower and extend the natural gas costs incurred by consumers following Winter Storm Uri last year when wholesale prices skyrocketed.

The Oklahoma Corporation Commission (OCC) order in January allows the costs to be securitized under a law passed by the legislature after the deadly emergency event. Without the securitization, it is estimated that the gas costs owed to utility Oklahoma Natural Gas (ONG) would cost an average residential consumer $15.32/month.

“This means that the monthly impact to ratepayers will be far less than it otherwise would have been,” OCC Chairman Dana Murphy said. “Securitization allows the cost to be spread out over up to 25 years, dropping the monthly payment to an estimated $7.82 for the majority of ONG...