OKLAHOMA CITY (AP) - The Oklahoma Corporation Commission has approved a plan to allow Oklahoma Gas and Electric charge its customers for the cost of buying an electric generation plant.
OG&E vice president Howard Motley says the average residential customer bill will go up by about $3.34 per month.
The agreement says OG&E will buy the Redbud power plant near Luther from Kelson Holdings of Maryland.
OG&E will own 51 percent with 36 percent interest owned by the Grand River Dam Authority and 13 percent by the Oklahoma Municipal
The unadjusted price is 852 million dollars and OG&E's eventual portion would be just over 434-and-a-half million.
The Corporation Commission last September denied a request by OG&E to raise customer rates to help pay for a 1.8 billion dollar power plant in north-central Oklahoma. The company then abandoned plans to build the plant.
(Copyright 2008 by The Associated Press. All Rights Reserved.)