- Associated Press - Friday, June 15, 2018

OKLAHOMA CITY (AP) - An administrative law judge has recommended approval of a proposed $64 million rate cut settlement agreement for Oklahoma’s largest electric utility, clearing the way for state regulators to take a vote.

Friday’s recommendation followed months of negotiations between Oklahoma Gas & Electric, the state Attorney General’s Office and others over a proposal filed by OG&E; early this year to slightly increase its rates. The proposed settlement agreement factors in tax savings the company will receive after the federal corporate income tax rate was cut by Congress last year.

The agreement would provide OG&E; residential customers with average savings of nearly $19 in July. After that, the savings for an average residential customer will be about $4.44 per month.

The three-member Oklahoma Corporation Commission will meet Tuesday to consider final approval.

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