OKLAHOMA GAS AND ELECTRIC COMPANY (NYSE:OGE) Files An 8-K Other Events
Item 8.01. Other Events
Electric Company (“OGE”) filed a general 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.
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. (Filed as Exhibit 99.01 to OGE Energy’s Form 8-K filed May 24, 2017 (File No. 1-12579) and incorporated by reference herein) |
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99.02
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Copy of the Settlement Agreement filed with the APSC on
April 20, 2017. (Filed as Exhibit 99.02 to OGE Energy’s Form 8-K filed May 24, 2017 (File No. 1-12579) and incorporated by reference herein) |
About OKLAHOMA GAS AND ELECTRIC COMPANY (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 primarily in the south central United States. The Company operates through two 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 in Oklahoma and its franchised service territory includes Fort Smith, Arkansas and the surrounding communities. The natural gas midstream operations segment represents the Company’s investment in Enable Midstream Partners, LP (Enable) through subsidiaries, and ultimately OGE Enogex Holdings LLC (OGE Holdings). Enable’s assets and operations are organized into two segments: gathering and processing, and transportation and storage. OKLAHOMA GAS AND ELECTRIC COMPANY (NYSE:OGE) Recent Trading Information
OKLAHOMA GAS AND ELECTRIC COMPANY (NYSE:OGE) closed its last trading session up +0.13 at 34.78 with 745,001 shares trading hands.
