OCC approves cost recovery for wind power contracts
The Oklahoma Corporation Commission (OCC) last week approved cost recovery for three wind power contracts that will allow customers of electric utility company Public Service Company of Oklahoma (PSO) to benefit from historically low wind energy prices...
Ritesh Gupta
In October last year, PSO signed new wind power agreements totaling nearly 600 MW. The move by the commission allows the cost recovery associated with new wind energy.
Estimates show the agreements will reduce customer costs by $53m in the first year, with annual savings growing over the 20-year length of the contracts. When deliveries of energy from the three new wind contracts commence in 2016, PSO’s total wind under contract will be 1,137 MW.
The energy in the new contracts will come from wind farms under development near Seiling, Balko and Goodwell.