Beginning with its March billing cycle, Public Service Company of Oklahoma will implement increased fuel adjustment charges that will return prices to 2011 levels. The increase is due to the expiration of a year-long customer refund, which caused prices to be unusually low over the past year, and higher costs for natural gas and purchased power.
PSO is prohibited by law from making a profit on the fuel it uses to generate electricity and only passes along to customers the actual cost of that fuel.
“We understand that any price increase is a challenge for customers. Over the last year, our fuel adjustment charges have been extraordinarily low. Now, with the expiration of the refund, and an increase in our overall fuel costs, our fuel charges are returning to more normal levels,” said Bobby Mouser, director – PSO Customer Services and Marketing.
“With these changes, customer bills will return to about the same levels as they were in 2011,” said Mouser.
For a residential customer who uses 1,000 kWh of electricity a month, the increase will be $11.70, from $77.41 to $89.11.
“Even with the increase in our fuel costs, our prices are still lower than the state, regional and national average,” said Mouser.