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State of Oklahoma

Posted: Nov 10, 2021 6:32 AMUpdated: Nov 10, 2021 6:36 AM

Oklahoma Boasts Some of the Best Electric Rates in the Nation as One Natural Gas Company Tries to Charge Hefty Exit Fees

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Tom Davis
Some natural gas customers are switching over to electricity for a variety of reasons and one Oklahoma natural gas company is trying to make it harder to switch.
 
Recently, Oklahoma’s biggest natural gas utility announced it could soon charge customers who switch to electric stoves and heating systems an “exit fee” of nearly $1,400 to disconnect service. 
 
According to the HuffPost, the proposal is part of a larger bid by Oklahoma Natural Gas to sell off debt it incurred when fuel prices skyrocketed during a historic cold snap last February. It is currently being negotiated before a judge at the Oklahoma Corporation Commission. The provision, which would apply only to customers who terminate service specifically to go electric, could be approved as early as December and come into force no later than June.
 
Electric stoves and geothermal heat pumps are becoming increasingly popular as technology improves and climate policies provide incentives to make the switch. 
 
Concern over global warming is hardly the only motivation. In many places, it is simply the cheaper option.
 
Oklahoma ranks only behind Louisiana in average electricity rates for all secotrs at 7.86 cents fer Kilowatt Hour (Sources: Electric Sales, Revenue, and Average Price, Energy Information Administration, Washington, DC. )
 
 

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