OGE ENERGY CORP. (NYSE:OGE) Files An 8-K Other Events
Item 8.01. Other Events
Oklahoma Gas and Electric Company (“OGE”), a regulated electric
utility with approximately 836,000 customers in Oklahoma and
western Arkansas. In addition, the Company holds a 25.7 percent
limited partner interest and a 50 percent general partner
interest in Enable Midstream Partners, LP.
rate case with the Arkansas Public Service Commission (“APSC”).
The rate filing requested a $16.5 million rate increase based on
a 10.25 percent return on equity. The rate increase was based on
a June 30, 2016 test year and included a recovery of over $3.0
billion of electric infrastructure additions since the last
Arkansas general rate case in 2011. The increase also reflects
increases in operation and maintenance expenses, including
vegetation management, and increased recovery of depreciation and
dismantlement costs.
the APSC and other intervenors. The settlement provides for a
$7.1 million annual rate increase and a 9.50 percent return on
equity on a 50.0 percent equity capital structure. The settlement
also provides that OGE will be regulated under a formula rate
rider, which should result in a more efficient process as the
return on equity, depreciation rates and capital structure should
not change from what is approved by the APSC in the current rate
case proceeding unless differences of plus or minus 50 basis
points in return on equity were to occur. Adjustments are limited
to plus or minus four percent of revenue for each rate class for
the 12 months preceding the projected year. The initial term for
the formula rate rider is not to exceed five years, unless
additional approval is obtained from the APSC. OGE expects to
make its first filing under the Arkansas Formula Rate Rider in
October 2018.
agreement and approval from the APSC are attached as exhibits and
incorporated herein by reference.
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(d) Exhibit
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Exhibit Number
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Description
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99.01
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Copy of the APSC Settlement Agreement approval dated
May 18, 2017. |
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99.02
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Copy of the Settlement Agreement filed with the APSC on
April 20, 2017. |
About OGE ENERGY CORP. (NYSE:OGE)
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas. Its operations are conducted through Oklahoma Gas and Electric Company (OG&E). OG&E is an electric utility-based in Oklahoma and its franchised service territory includes the Fort Smith, Arkansas area. The natural gas midstream operations segment represents its investment in Enable Midstream Partners, LP (Enable). Enable is engaged in the business of gathering, processing, transporting and storing natural gas and its assets are located in over four states and serve natural gas production from shale developments in the Anadarko, Arkoma and Ark-La-Tex basins. OGE ENERGY CORP. (NYSE:OGE) Recent Trading Information
OGE ENERGY CORP. (NYSE:OGE) closed its last trading session up +0.13 at 34.78 with 745,001 shares trading hands.
