PSO Secures $1.2 Billion Investment for New Energy Projects in Oklahoma
Public Service Company of Oklahoma (PSO) has received preapproval for a $1.2 billion investment to expand its energy projects. This initiative aims to enhance reliability and support growing demand, particularly from data centers and new businesses.
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The Oklahoma Corporation Commission approved PSO's investment for two natural gas units, three battery storage systems, and power purchase agreements. The total cost is $1.2 billion; however, customer bills won't change immediately.
The final order mandates annual rate adjustments based on new demand, along with conditions to shield households from costs associated with data center connections. PSO plans to finance natural gas projects using construction-work-in-progress (CWIP), allowing customer billing before project completion.
Final project operations are anticipated by 2029, although approval for rezoning in Rogers County is required before PSO can begin collecting funds. Risks associated with battery storage facilities were noted by dissenting commissioner Brian Bingman.
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