AARP Oklahoma announced today its support of Oklahoma Attorney General Mike Hunter’s motions to lower utility rates as a result of federal corporate tax reductions taking effect in 2018. Due to recent changes in tax law, utilities in Oklahoma will have their tax payments reduced collectively by $100 million a year, including a reduction of $52 million for OG&E and $24 million for PSO.
“AARP Oklahoma supports Attorney General Hunter’s efforts to ensure the tax reductions generated by recent corporate tax changes will be passed on to rate payers, not retained by utilities,” said AARP Oklahoma State Director Sean Voskuhl.
As the leading consumer advocate fighting for fair and reasonable utility rates, AARP Oklahoma is currently intervening in another case before the Oklahoma Corporation Commission where PSO is requesting a rate increase of $170 million a year. AARP is advocating for the Corporation Commission to accept a recommendation by their administrative law judge that PSO be granted a rate increase of only $81.2 million.
“PSO recently asked the Corporation Commission to allow them to raise rates. OG&E has filed notice that they intend to do the same,” said Voskuhl. “It is important that the Corporation Commission address this issue immediately to ensure any allowed rate changes reflect actual tax obligations under the new law going forward. Voskuhl continued, “Given the administrative law judge’s recommendations and the new tax savings, the Corporation Commissioners have an opportunity to save ratepayers a significant amount of money each month, while still allowing utility companies the revenue necessary to provide reliable and affordable service to their customers.”