Oklahoma will continue its focus on commercial wind power while keeping its position as one of the lowest-cost states for electricity under a settlement agreement that has been approved by the Oklahoma Corporation Commission.
The settlement will allow Public Service Company of Oklahoma (PSO) to recover costs to add 675 MW of wind power in Oklahoma with no rate increase for customers, as cost savings resulting from the project will be passed on to them. If the entire four-state project receives approval in all states, total savings for customers of PSO and its affiliate Southwestern Electric Power Co. are projected to total $1.42 billion over the 31-year life of the 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,” says Todd Hiett, commission chairman.
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.
Parties supporting the agreement included the OCC’s Public Utility Division, the Oklahoma Attorney General, PSO, the Oklahoma Sustainability Network, Oklahoma Industrial Energy Consumers and WalMart.
To read the Oklahoma Corporation Commission’s full report on the state’s potential savings from wind power, click here.