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Oklahoma Corporation Commission approves PSO wind power agreement  

Credit:  By KFOR-TV and K. Querry | Feb 20, 2020 | kfor.com ~~

Officials say that Oklahoma will continue to be one of the states with the lowest cost for electricity following a settlement agreement for wind power approved by the Oklahoma Corporation Commission.

The settlement allows Public Service Company of Oklahoma (PSO) to recover costs to add 675 megawatts of wind power in Oklahoma with no rate increase for customers.

The plan calls for PSO to own a share of three Oklahoma wind farms, known as the North Central Energy Facilities.

“Approval of this agreement will allow our customers to have their energy needs met with affordable, Oklahoma wind energy and will add significant investment in our state,” said Peggy Simmons, PSO president and COO. “We are grateful to all the parties whose willingness to collaborate led to the settlement and to the Commission for their approval of the agreement.”

If the entire four-state project receives approval in all states, customers are expected to save $1.42 billion over the 31-year life of the wind farm project.

“Oklahoma has once again shown the rest of the U.S. what can happen when parties work together in the best interest of the state. This agreement will further strengthen Oklahoma’s diverse and reliable energy portfolio that is essential for Oklahoma to continue to grow and prosper in the future,” Commission Chairman Todd Hiett.

The project will result in three new commercial wind generation facilities that will be located in Custer, Blaine, Garfield, Kingfisher, Major, Woods and Alfalfa counties.

“Today’s order will allow PSO to make a $908 million investment to further develop Oklahoma’s low-cost and environmentally responsible wind resources at no cost to the customer,” Commissioner Dana Murphy said. “In fact, the tax credits and other savings that will be passed through to PSO customers are projected to slightly decrease the average residential monthly bills, while giving the state even more to offer prospective companies looking for a state that can meet their energy needs.”

“Responding to customer needs for reliable, affordable and clean electric power generation, PSO will now make a new major infrastructure investment in Oklahoma,” Commissioner Bob Anthony said. “Today’s arrangement includes ratepayer protections such as a cost cap guarantee and off-system sales benefiting electric customers.”

Source:  By KFOR-TV and K. Querry | Feb 20, 2020 | kfor.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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