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Last Updated: April 2007
01/06:
The Oklahoma Corporation Commission (OCC) established new rules governing the purchase
of power by electric utilities. The new rules called for competitive bidding
for power by regulated electric utilities in Oklahoma, as well as reviews by
the Commission of power and fuel purchase costs.
Source: Oklahoma Corporation Commission
http://www.occ.state.ok.us/Divisions/NEWS/2006/January06/01-12-06Power%20Rules.doc
12/01: The Oak Ridge National Laboratory conducted a study on the potential economic impact of electricity industry restructuring in Oklahoma at the request of the OCC. Phase I of the report was issued in March 2001, and Phase II was presented to the commission in November 2001. Phase I of the report concentrated on an analysis of the near-term effects of potential restructuring in Oklahoma. Phase II analyzed the future of the electricity market to 2010 incorporating the potential of new generating plants and customer responses to competitive prices.
06/01: The Governor signed Senate Bill 440. The bill establishes a 9-member task force to further study the effects of deregulation. Retail competition would not be implemented until after the task force issued its final report scheduled for the end of 2002, and the legislature enacted restructuring legislation.
09/00: An electric restructuring symposium, sponsored by the Oklahoma Industrial Energy Consumers, was held to discuss restructuring in other states in anticipation of developing a similar plan for Oklahoma. An earlier attempt at restructuring failed when the House of Representatives narrowly rejected Senate Bill 220. A similar bill was expected to be introduced during the 2001 legislative session, which began in February 2001.
06/00: Efforts to pass legislation containing implementation guidelines to restructure Oklahoma's electric power industry, set to begin July 1, 2002, by earlier legislation, ended with the closing of the 2000 legislative session. The Electric Deregulation Task Force was scheduled to remain in operation until January 1, 2003, and would continue working toward deregulation, presumably addressing new legislation in the 2001 session.
03/00: The Senate passed legislation dealing with the details of how to implement retail competition in the state's electric power industry, as required in Senate Bill 500, passed in June 1998. Retail choice was set to begin by July 2002 in the State. The bill had yet to be approved by the House at that time.
07/99: Oklahoma Gas & Electric Energy Services filed a plan with the OCC for new rate reductions totaling $58.9 million through July 1, 2002, establishing a performance based incentive plan, and eliminating the fuel adjustment clause. These decreases, in addition to those already scheduled to take effect in 2000, were intended to help prepare the utility for competition. If the performance goals were not met, the company would pay the price; if they were exceeded, the stockholders would receive the benefits of the savings. This was the first performance-based ratemaking plan filed in Oklahoma.
10/98: The Joint Electricity Task Force began meeting to discuss deregulating the state's electric utilities. Proposed issues to be studied included customer choice, reliability, unbundling, and tax impacts. The studies were scheduled to be completed by October 1999.
06/98: Senate Bill 888 was enacted. The bill was proposed to speed up the time line for restructuring the industry. Currently, under Senate Bill 500, studies and recommendations for restructuring were scheduled to be completed by the OCC by 2000. The new legislation required that all studies be completed by October 1999, and allowed some retail competition to begin as early as 1999.
02/98: The OCC issued final rules for unbundling. The rules would go to the legislature and governor for review.
04/97: The Oklahoma Corporation Commission (OCC) was directed by Senate Bill 500 to undertake a study of all relevant issues relating to restructuring the electric utility industry and to develop a framework for the restructuring. Four reports: ISO Issues, Technical Issues, Financial Issues, and Consumer Issues were due February 1998, December 1998, December 1999, and August 2000, respectively.
04/97: Senate Bill 500, the Electric Restructuring Act of 1997, was enacted allowing retail competition by July 2002. The OCC was directed to study the issues and develop a framework to implement retail competition. Under Senate Bill 500, each entity must propose a recovery plan for stranded costs. Transition charges could be collected over a 3- to 7-year period and must not cause the total price for electric power to exceed the cost per kWh paid by consumers when the law was enacted during the transition period.