Drummond, PSO reach settlement that slashes proposed rate increase for Oklahoma consumers

OKLAHOMA CITY (June 30, 2026) – Oklahoma Attorney General Gentner Drummond today announced a settlement agreement with Public Service Company of Oklahoma (PSO) that greatly reduces the utility's proposed residential rate increase from approximately 15 percent to only 1 percent.

The original application would have increased the average residential customer's monthly electric bill by more than $25. Under the settlement negotiated by Drummond, the average residential customer will see an increase of approximately $2.45 per month. The agreement is subject to approval by the Oklahoma Corporation Commission.

“This is a major win for Oklahoma families, businesses and ratepayers,” Drummond said. “With inflation through the roof, consumers are already paying too much for goods and services. My office will continue fighting to ensure utility customers receive safe, reliable service at rates that are fair, just and reasonable.”

The Attorney General's Office, through its Utility Regulation Unit, worked closely with PSO and other parties throughout the case to reach a resolution that significantly reduces the impact on consumers while supporting reliable electric service. Other parties include the AARP, The Petroleum Alliance and the Public Utility Division of the Oklahoma Corporation Commission.