OKLAHOMA CITY, Okla. — Oklahomans are still on the hook to help OG&E recoup costs from February’s winter storm, as the energy company asks customers to help it repay $700 million in fuel costs.

On Thursday, the Oklahoma Corporation Commission approved reducing the monthly charge for your bill. The OCC said the February winter storm was a rare occurrence, but the new approval will help protect customers; however, it’ll still cost you.

“In the months since February, these costs have been audited. The costs have been looked at to make sure that the contracts in which they were bought were adhered to state law,” OCC spokesperson Matt Skinner said.

Starting next year, a plan using the state’s new securitization law will recover fuel costs at no profit for OG&E.

“It will be over a 28-year period at a cost that the average residential customer of $2.12 a month,” Skinner said.

The OCC said this is an ongoing investigation, and customers could see a refund if there is legal action lowering that amount.

“Right now, that amount is in the area of $748 million, and, going forward, that’s the number that’s being used if that amount gets lowered,” Skinner said. “Under this order, Oklahoma Gas & Electric has to directly pass any savings on to the rate-payer.”

He said that the best advice for customers, if Oklahoma sees another ice storm, “obviously, the less electricity you use, then the less of a demand for fuel. And that lowers everyone’s fuel costs.”

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