Statement from the Alliance for Secure Energy on Senate Bill 998

Oklahoma has a distinct advantage in the affordable and reliable energy it provides for businesses, industry and families. With the passage of SB 998, our state is even better equipped to invest in critical energy infrastructure while saving electric customers millions of dollars on new generation.

As demand grows, strategic investment in energy infrastructure is essential. SB 998 not only supports reliable energy generation and Oklahoma natural gas but also lowers costs by allowing electric utilities to recover expenses during construction, avoiding the added interest that comes with post-completion financing. In recent filings at the Oklahoma Corporation Commission, $240 million in savings have been identified so far.*

SB 998 is an important step for energy policy in Oklahoma and is already spurring the investment needed to meet growing energy needs across the state at the lowest cost for customers. As the energy landscape continues to evolve, the Alliance for Secure Energy welcomes this new law as an important step toward ensuring Oklahoma’s energy remains secure, reliable, and affordable.

*Reference Oklahoma Corporation Commission filings on Horseshoe Lake 12&13, NE Units 5&6, Oologah