OKLAHOMA CITY (KFOR) – Oklahoma Gas and Electric Company says it is eyeing a new project that would replace two power generation units.

OG&E is asking the Oklahoma Corporation Commission for approval to replace two power generation units at the Horseshoe Lake Power Plant in eastern Oklahoma County.

Officials say the Horseshoe Lake Power Plant has served customers for more than 60 years, but crews want to replace the vintage gas-fired steam units and new gas-fired combustion turbines.

Officials say the new units would be more reliable, more efficient and result in lower emission rates.

“We’ve seen tremendous growth across our service area as the communities we serve continue to thrive, “said Sean Trauschke, OGE Energy Corp. chairman, president & CEO. “With affordability for our customers top of mind, adding combustion turbines at our existing Horseshoe Lake facility, with its highly skilled workforce, provides our customers the most cost-effective option to meet their energy needs.”

Overall, the project is expected to cost $331 million and will result in an increase of $2.20 per month for the average customer. However, the rate increase wouldn’t go into effect until the new units are turned on in 2026.