June was rough for OG&E, but their fortunes have turned as the misfortune of its trapped customers means a boon for company shareholders. 

June was rough for OG&E, but their fortunes have turned as the misfortune of its trapped customers means a boon for company shareholders.


As of Aug. 22, shares of OGE Energy Corp. are up more than 7 percent for the summer (which includes the 6.6 percent dip in June).


Meanwhile, many electricity consumers are left wondering how they’re expected to pay bills that in many cases are at least double what they’ve ever been.


But things are looking up … For OG&E at least. Starting Aug. 1, its victims … errr … customers will also be seeing an additional monthly charge of $3.34 for “Winter Event Securitization.”

As OG&E explains in their email: “Securitization protects customers from receiving an extremely high bill for fuel costs and benefits customers and other stakeholders by ensuring OG&E will continue to maintain the financial strength needed to serve our 880,000 customers in Oklahoma and Arkansas.”


The benefit to consumers is dubious but to its stakeholders is obvious. Thanks, Oklahoma Corporation Commission, or as it should be called, the Oklahoma Commission for Corporations.


Fortunately, summer temperatures are on their way out. Oh, but wait. Oklahoma Natural Gas has just requested a base rate increase of nearly 20 million dollars as we head into the cooler months.


Here we go again…

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