The time is coming to pay back those expensive heating bills from the February cold storm. Public Service Company of Oklahoma says the company picked up $668 million in extraordinary fuel and purchase power costs.
Stan Whiteford, spokesperson for PSO, says the company is waiting for state approval on a repayment plan for customers that could result in a $4 bill increase, for as many as 20 years.
“Everyone is made whole during this period who incurred the expenses and then we recover them over a 20 year period, which really lessens the impact on customers,” said Whiteford.
Other companies and cities incurred outrageous costs as well. The town of Yale had a $1.4 million bill and is now in litigation with the supplier. They also spent nearly $350,000 on a new gas line and are now receiving service from Oklahoma Natural Gas, according to Yale’s city manager, Phillip Kelly.
“In June of this year we finally got our own gas line built and paid for and we are getting gas from ONG right now. So we finally got off the Keystone and Blue Mark,” said Kelly.
The city of Stillwater is using some of its reserve funds, to tackle a $7.1 million bill from the GRDA. Citizens will pay half, resulting in a $2.50 increase per month, starting in November, said Deputy City Manager Melissa Reames.
“This is very extreme and we feel very blessed that our share was only the little over seven million dollars because we just did not know what it was gonna look like,” said Reames.
Whiteford says PSO customers could see an increase, between now and February, when they are expecting the state to make a decision on the repayment plan they have submitted.