|01/06: The Oklahoma Corporation Commission (OCC) established new rules governing the purchase of power by electric utilities. The new rules called for competitive bidding for power by regulated electric utilities in Oklahoma, as well as reviews by the Commission of power and fuel purchase costs.
12/01: The Oak Ridge National Laboratory conducted a study on the potential economic impact of electricity industry restructuring in Oklahoma at the request of the OCC. Phase I of the report was issued in March 2001, and Phase II was presented to the commission in November 2001. Phase I of the report concentrated on an analysis of the near-term effects of potential restructuring in Oklahoma. Phase II analyzed the future of the electricity market to 2010 incorporating the potential of new generating plants and customer responses to competitive prices.
06/01: The Governor signed Senate Bill 440. The bill establishes a 9-member task force to further study the effects of deregulation. Retail competition would not be implemented until after the task force issued its final report scheduled for the end of 2002, and the legislature enacted restructuring legislation.
09/00: An electric restructuring symposium, sponsored by the Oklahoma Industrial Energy Consumers, was held to discuss restructuring in other states in anticipation of developing a similar plan for Oklahoma. An earlier attempt at restructuring failed when the House of Representatives narrowly rejected Senate Bill 220. A similar bill was expected to be introduced during the 2001 legislative session, which began in February 2001.
06/00: Efforts to pass legislation containing implementation guidelines to restructure Oklahoma's electric power industry, set to begin July 1, 2002, by earlier legislation, ended with the closing of the 2000 legislative session. The Electric Deregulation Task Force was scheduled to remain in operation until January 1, 2003, and would continue working toward deregulation, presumably addressing new legislation in the 2001 session.
03/00: The Senate passed legislation dealing with the details of how to implement retail competition in the state's electric power industry, as required in Senate Bill 500, passed in June 1998. Retail choice was set to begin by July 2002 in the State. The bill had yet to be approved by the House at that time.
7/99: Oklahoma Gas & Electric Energy Services filed a plan with the OCC for new rate reductions totaling $58.9 million through 7/1/02, establishing a performance based incentive plan, and eliminating the fuel adjustment clause. These decreases, in addition to those already scheduled to take effect in 2000, are intended to help prepare the utility for competition. If the performance goals aren't met, the company would pay the price; if they are exceeded, the stockholders would receive the benefits of the savings. This is the first performance-based ratemaking plan filed in Oklahoma.
2/98: The OCC issued final rules for unbundling. The rules now go to the legislature and governor for review.
4/97: The Oklahoma Corporation Commission (OCC)is directed by SB 500 to undertake a study of all relevant issues relating to restructuring the electric utility industry and to develop a framework for the restructuring. Four reports: ISO Issues, Technical Issues, Financial Issues, and Consumer Issues are due 2/98, 12/98, 12/99, and 8/2000, respectively.