Most of us have already looked at the horror looming on the horizon, but confirmation is starting to roll in about the financial toll of the heatwave on all of our finances. 

Most of us have already looked at the horror looming on the horizon, but confirmation is starting to roll in about the financial toll of the heatwave on all of our finances.


But that’s a conversation for the next dispatch. In the meantime, let’s return to the record bitterly cold winter of 2021 and what that will cost us.


Bob Anthony, vice chair of the Oklahoma Corporation Commission voiced his opinion in a recent legal filing.


“In short, the results of OG&E's winter storm bond issuance are simply horrifying,” Anthony wrote.


The word “horrifying” is underlined. One more time. In an official court document, the word “horrifying” is underlined.


He argues that customers will pay 57 percent more than promised and the bond rate’s interest percentage will nearly double by its conclusion.


“At an interest rate twice what was originally promoted, not to mention millions more in costly incentives and fees, over time OG&E customers will actually be charged almost twice what they supposedly ‘owe’ for the power they used during the February 2021 winter storm. And that's on top of the astronomically inflated fuel prices at the core of it all which will now go largely uninvestigated. No wonder 13 of the 15 states impacted by the 2021 winter storm rejected the costly Texas/Oklahoma securitization bond approach for their largest electric utilities,” Anthony wrote.


“The insiders and special interests have had their way, and it's the ratepayers who will pay - literally for generations!”


Find me another document on file with a court clerk’s office that contains an exclamation mark outside of a quote. First one to do so gets a free subscription to Oklahoma Gazette.
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