PSO customers will see a 12% to 30% drop in their electric bills because of lower fuel costs, starting with the June 2012 billing cycle.  This is compared with last year’s June bills.  PSO has adjusted downward the fuel factor that is a part of each customer’s bill as a routine charge.

“Lower natural gas prices in the marketplace, which are expected to continue for the following year, are the most significant reason our customers will experience lower overall electric bills in June,” said Bobby Mouser, Director- PSO Customer Services and Marketing.

“The annual adjustment by PSO to its fuel charge on customer bills will result in significant savings for our customers, overall, which is always good news,” Mouser said.

A residential PSO customer who uses 1,000 kWh of electricity a month will see a drop in electric cost from $97.98 to $85.88, based on peak pricing, compared with last year at this time.

The reduction in the fuel cost adjustment is largely the result of continued lower prices for natural gas, which is used to generate a substantial portion of the electricity used by our customers.  Since PSO is prohibited by law from making a profit on the fuel it uses to generate electricity, the company passes along to its customers the cost savings realized when fuel prices are low.

“Despite this good news, customers should continue to focus on using electricity wisely, especially considering the expected hot summer months that are just beginning. Go to PSOklahoma.com for energy saving tips,” he said.  

PSO, a unit of American Electric Power (NYSE: AEP), is an electric utility company serving more than 530,000 customers in eastern and southwestern Oklahoma.  With headquarters in Tulsa, PSO has 4,308 megawatts of generating capacity and provides electricity to 232 cities and towns across a service area encompassing 30,000 square miles.  News releases and other information about PSO can be found on the World Wide Web at PSOklahoma.com.