OK AG: Corporate savings should be passed on to customers

OK AG: Corporate savings should be passed on to customers

OKLAHOMA CITY, OK (KSWO) – Oklahoma Attorney General Mike Hunter has filed five motions with the Oklahoma Corporation Commission (OCC). He is asking for an immediate reduction in customer rates from the state's leading utility companies.

A sweeping overhaul of federal income taxes scheduled to take effect Jan. 1st lowers the highest corporate income tax rate from 35 percent to 21 percent. As a result, Oklahoma Gas & Electric, Public Service Company of Oklahoma, Oklahoma Natural Gas, CenterPoint Energy, and Arkansas Oklahoma Gas is expected to have an annual savings of approximately $100 million.

"These companies will begin seeing major savings after the tax cut is implemented on Monday," Attorney General Hunter said. "Oklahomans who are customers of these companies should immediately retain the benefits of the savings from the tax cut in the form of lower rates. We urge the OCC to act quickly and in the best interests of customers, not company shareholders."

A hearing is scheduled for Jan. 4.

Information provided by Attorney General Mike Hunter's Office.