Oklahoma Attorney General Gentner Drummond and other parties have entered into a joint stipulation and settlement agreement with Public Service Company of Oklahoma (PSO) on its pending application for wind and solar power projects which will eventually lower customer rates in 2026.
There will be a total of six projects, three wind and three solar, added to PSO’s energy generation. That will add 995 megawatts of capacity. In exchange, there will be protections in place to protect customers from project cost overruns. The projects are expected to cost just less that $2.5 billion.
In 2025, PSO customers should expect a temporary price increase on average of $1.95 per month. Due to production tax credits and reductions in fuel usage, customers would see a reduction around $2.58 per month in 2026.
“With a project of this magnitude, it was imperative to put in place customer protections to safeguard Oklahoma ratepayers,” Drummond said. “I am pleased that this settlement will result in more capacity in times of need, at cheaper rates for PSO customers. I am thankful for the hard work and dedication of my office’s utility regulation unit leader, Deputy Attorney General Chase Snodgrass, who worked in good faith with PSO representatives to achieve the best possible outcome for Oklahoma families and businesses.”
The Oklahoma Corporation Commission must now approve PSO’s application for the projects to go forward.
