OKLAHOMA CITY — Oklahoma's Corporate Commission has voted to approve the motions filed by the state's attorney general that request Oklahoma Natural Gas (ONG) return money saved from the 2017 federal tax cuts to utility customers.
According to the Oklahoma Attorney General's Office, ONG customers will get $22.7 million in savings with a rate reduction of around $11 million, plus $11.7 million in credits. The savings stem from ONG's federal tax rate drop which went down to 21 percent. Oklahoma utility customers should see about a $15 savings in February and then future savings throughout the year, which is critical for some residents as the peak of winter hits, the Attorney General's Office said.
“Winter is one of the most expensive times of year for natural gas utility customers,” Oklahoma Attorney General Mike Hunter said in a statement. “Reducing rates and giving money back to customers will help a lot of Oklahomans. I commend the OCC commissioners,who approved this order. The state’s leading utility companies have seen major savings since the tax cuts took effect. The savings represent a windfall, over-collected from customers that needs to be returned to them.
“I appreciate the continued hard work and dedication of the staff in the utility regulation unit in my office and everyone else who advocated for this money to go back to hard working Oklahomans."