OKLAHOMA CITY (KFOR) – How will Oklahoma pay for that artic blast in February? Right now, legislators and authorities officers laid out a plan they are saying will ease the burden on charge payers to repay the $4.5 billion invoice.
Legislators and authorities officers have promised to guard the typical charge payer from enormous payments for the reason that weather-induced power disaster in February.
There may be now a plan, however finally the tab shall be picked up by the typical Oklahoman.
“Our utility system is just not constructed for that sort of climate. The invoice is coming due and we’re taking steps to ease the burden of paying it again,” mentioned Senator James Leewright.
The Republican from Bristow is main the legislative cost to discover a option to repay the estimated $4.5 billion that state utility firms owe after February’s storms.
“These costs usually are not going away however it is a manner by extraordinary reduction to carry that per buyer impression down,” mentioned Brandy Wreath of the Oklahoma Company Fee.
State officers say the state arrange plan will use bonds to elongate the period of time Oklahoman must pay again the price of the power.
With out assist, officers say Oklahomans whose pure gasoline invoice averages $100 a month may pay as near $2000 a month for the following 8 months. However with the financing plan, they estimate the brand new invoice can be nearer to $150 a month.
For a way lengthy, officers say they don’t know.
“They didn’t put together and so they paid manner an excessive amount of for his or her sources and now they need us to pay a billion {dollars} to cowl their belongings and that’s not honest,” mentioned Mustang resident Steve Costin.
Costin says he’s on a hard and fast earnings due to incapacity. He says the elevated price will harm.
“They only anticipate me to tug it out of my belongings that I don’t have to offer,” mentioned Costin.
“We predict that is the very best consequence in a nasty state of affairs,” mentioned State Secretary of Vitality Kenneth Wagner.
Officers say if this laws passes, it’ll apply to the regulated firms like OG&E and ONG however shall be out there to smaller municipalities too, a few of which say their February energy payments exceed their normal total annual budgets.
“After weeks of labor, it’s the best choice for charge payers, our economic system and it is the very best choices for Oklahoma,” mentioned Leewright.
The plan may be utilized by some college districts and rural hospitals.
These payments might want to undergo the legislature and be signed by the Governor to enter impact.
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