Agency approves PSO rate changes

Associated Press - January 5, 2011 12:15 PM ET

OKLAHOMA CITY (AP) - The Oklahoma Corporation Commission has approved a change in the electric rates charged by Public Service Company of Oklahoma.

Under the proposal OK'd on Wednesday, the base rates that industrial customers are charged will decline 2.5%, but rates for commercial and residential customers will increase. Officials say a residential customer who uses 1,000 kilowatt hours a month will pay about 35 cents more per month.

The utility originally had sought a $52 million increase in rates, but under the settlement PSO wouldn't gain any income.

The new rates are scheduled to go into effect no later than the first billing cycle in February.

PSO serves about 530,000 customers in eastern and southwestern Oklahoma.