The Oklahoma Corporation Commission has approved a settlement in a rate case for Oklahoma Natural Gas that will result in an increase of nearly $1 per month for residential customers.
The three-member state regulatory agency announced Thursday that they had approved the settlement with ONG, which is a unit of ONEOK Inc.
Commission Chairman Dana Murphy called the settlement “a balanced approach.” The agreement was supported by the attorney general’s office, the commission staff and the Oklahoma Industrial Energy Consumers.
ONG spokeswoman Cherokee Ballard says the rate hike was requested to offset the cost of about $234 million in infrastructure improvements that have been made in recent years.
The utility initially requested an increase of $16.2 million, but the total increase under the settlement is $9.5 million. Residential customers will see a monthly increase of 96 cents.