OKLAHOMA CITY (KFOR) — According to OG&E Manager of Corporate Communications Aaron Cooper, the energy company has begun notifying its customers of an upcoming change that will significantly lower bills for the average residential customer.
OG&E says it’s lowering customer bills effective November 1 when the electric company lowers the fuel charge on each customer’s monthly bill.
The average residential customer will start seeing a reduction of $20.97 on their December bill as a result of natural gas prices dropping in 2023. This bill reduction is approximately 15.4% per month.
In an email to customers, OG&E mentioned that in 2022, the company increased the fuel charge on customer bills several times due to increasing natural gas prices.
OG&E states that the Oklahoma Corporation Commission reviews and approves the fuel factors used to calculate fuel charges twice per year. The company says that they do not profit from or make money on any fuel purchases.
According to OG&E, the cost of fuel makes up about 30 percent of a customer’s bill, and when natural gas prices drop, the company adjusts the fuel factor and lowers total monthly electricity costs for customers.
OG&E officials say the change is effective November 1 and customers can expect to see the change reflected in their December bill.