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Oklahoma utilities turn to banks, investors to stay afloat after storm


Oklahoman
This cost energy providers billions.
In the storm s aftermath, regulated utilities, electric cooperatives and power authorities across Oklahoma await final energy transaction tabulations from the Southwest Power Pool, operator of the regional grid, to determine just how much they owe.
But regulated utilities in Oklahoma are already approaching banks and investors for short-term financial help.
Those regulated utilities are seeking to recover their costs with customers help.
To do this, plans to retire what s owed must be approved by the Oklahoma Corporation Commission on a case-by-case basis.
Most consumers across Oklahoma are expected to see bill increases as a result of the storm, but just how big and how long those will last depend on all three of these pending issues.  ....

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Takeaways: Five factors that will determine your utility bills following Oklahoma's winter storm

It will take weeks or maybe even months for customers of Oklahoma’s power providers to find out how their bills over the next five to 10 years will be impacted by the providers’ February storm costs.
Here’s why:
• Total costs are still being calculated. Power providers don’t yet know exactly how much they spent to acquire the natural gas they needed to keep generating stations that use that fuel operating. They also don’t yet know how much additional power they purchased from the grid to keep energy flowing across the grid during the storm cost them.
• Each power provider is different. While Oklahoma Gas & Electric Co., Public Service Co.
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