Stitt signs bills to limit storm utility costs

The Associated Press - April 24, 2021 12:45 pm

OKLAHOMA CITY (AP) — Oklahoma Gov. Kevin Stitt has signed a pair of bills to mitigate the skyrocketing storm-related utility costs from a February winter storm. The bills were among 24 measures Stitt signed into law on Friday. He also vetoed two measures.

The utility bills authorize the issuance of ratepayer-backed bonds to help offset an estimated $4.5 billion in increased storm-related energy costs. The securitization is designed to lower the monthly costs for ratepayers over an extended period.

 

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