OKLAHOMA CITY (AP) — The Oklahoma Corporation Commission has approved a settlement of $133 million in a rate increase case involving electricity smart meters.
Public Service Co. of Oklahoma will be allowed to collect the money from customers to install the meters. Residential customers are paying a separate surcharge of $3.11 a month to fund the advanced metering infrastructure.
The Tulsa-based company filed its case in January 2014, and a settlement was proposed in June. The company began collecting interim rates in November because of the length of the case.
PSO says it can save customers at least $11 million from the meters in the first four years of use through the elimination of meter readers and fewer trucks needed address repairs.
The settlement was supported by the commission's public utility division and others, but is opposed by the AARP for cost reasons.