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| OGE > SEC Filings for OGE > Form 8-K on 27-May-2009 | All Recent SEC Filings |
27-May-2009
Other Events, Financial Statements and Exhibits
OGE Energy Corp. (the "Company") is the parent company of Oklahoma Gas and Electric Company ("OG&E"), a regulated electric utility with approximately 772,000 customers in Oklahoma and western Arkansas, and Enogex LLC and its subsidiaries ("Enogex"), a midstream natural gas pipeline business with principal operations in Oklahoma.
On May 20, 2009, the Company issued a press release announcing that OG&E received an order from the Arkansas Public Service Commission ("APSC") related to its August 29, 2008 request to increase its electric rates to recover, among other things, costs for investments including the 1,230 megawatt natural gas-fired, combined-cycle power generation facility in Luther, Oklahoma ("Redbud Facility") and improvements in its system of power lines, substations and related equipment to ensure that OG&E can reliably meet growing customer demand for electricity, and a return on equity of 12.25 percent. The APSC order provides for a $13.3 million increase in OG&E's electric rates and a 10.25 percent return on equity. OG&E had requested an increase of approximately $26.4 million. The new rates will go into effect in June 2009. Also, in its order, the APSC directed OG&E to remove storm costs incurred in 2008 from the settlement agreement amount and to file an exact recovery rider for approximately $0.5 million of those storm costs over the next two years. For further information, see the press release attached as Exhibit 99.01 and a copy of the APSC order attached as Exhibit 99.02.
(d) Exhibits
Exhibit Number Description
99.01 Press release dated May 20, 2009, announcing Arkansas
Regulators Approve OG&E Rate Increase Order.
99.02 Copy of APSC order dated May 20, 2009.
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