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The Water Cooler
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ONG customers and winter event cost recovery
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<blockquote data-quote="sfwssdd" data-source="post: 3951529" data-attributes="member: 52281"><p>So looking at a 2022 bill, I was credited $10+ while being charged 10+ in 2023. WTF</p><p> “The Oklahoma Corporation Commission approved nearly $2.9 billion in customer-backed state-issued bonds for four electric and natural gas companies, with $2.7 billion accounting for the price of natural gas that<a href="https://www.oklahoman.com/story/business/energy-resource/2021/05/02/oklahoma-weather-winter-storm-leaves-customers-paying-huge-power-bill/7285966002/" target="_blank"> spiked during a two-week span last year</a>.</p><p>Oklahoma Natural Gas reported to the commission that it expects to pay $8.1 million, or about 0.6% of its total bond amount, in fees to the Council of Bond Oversight, the state agency tasked with approving all state financing requests. </p><p>The Oklahoman reviewed the standard fees from the Council of Bond Oversight and found they are typically .0001%, which should make ONG's fee about $140,500. </p><p>Officials with the Public Utility Division confirmed the error and said it would be fixed when the final amounts are audited after the bonds are issued.</p><p>In addition to auditing the final bond amounts, the Public Utility Division will perform regular audits throughout the life of the bonds, which will be 28 years in the case of OG&E, which was approved for $761 million in bonds.</p><p>OG&E's bonds will also include $21 million in “bond issuance costs” and “carrying costs,” according to its financing order with the state, which stipulates could change when the final bonds are issued.”</p><p></p><p>I am sure they will, yet for 2021, and their tragic loss that they need to bill the little folk for 28 years; “ OG&E's parent company booked a $737 million profit in 2021 while it also recorded debt from the winter storm. Of that profit, $360 million came from OG&E (the parent company's natural gas midstream operations made $385 million).”</p></blockquote><p></p>
[QUOTE="sfwssdd, post: 3951529, member: 52281"] So looking at a 2022 bill, I was credited $10+ while being charged 10+ in 2023. WTF “The Oklahoma Corporation Commission approved nearly $2.9 billion in customer-backed state-issued bonds for four electric and natural gas companies, with $2.7 billion accounting for the price of natural gas that[URL='https://www.oklahoman.com/story/business/energy-resource/2021/05/02/oklahoma-weather-winter-storm-leaves-customers-paying-huge-power-bill/7285966002/'] spiked during a two-week span last year[/URL]. Oklahoma Natural Gas reported to the commission that it expects to pay $8.1 million, or about 0.6% of its total bond amount, in fees to the Council of Bond Oversight, the state agency tasked with approving all state financing requests. The Oklahoman reviewed the standard fees from the Council of Bond Oversight and found they are typically .0001%, which should make ONG's fee about $140,500. Officials with the Public Utility Division confirmed the error and said it would be fixed when the final amounts are audited after the bonds are issued. In addition to auditing the final bond amounts, the Public Utility Division will perform regular audits throughout the life of the bonds, which will be 28 years in the case of OG&E, which was approved for $761 million in bonds. OG&E's bonds will also include $21 million in “bond issuance costs” and “carrying costs,” according to its financing order with the state, which stipulates could change when the final bonds are issued.” I am sure they will, yet for 2021, and their tragic loss that they need to bill the little folk for 28 years; “ OG&E's parent company booked a $737 million profit in 2021 while it also recorded debt from the winter storm. Of that profit, $360 million came from OG&E (the parent company's natural gas midstream operations made $385 million).” [/QUOTE]
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