The Oklahoma Corporation Commission approved a settlement in a rate case with Public Service Company of Oklahoma that will cut the requested amount almost in half.

PSO wanted a rate increase of $88 million, which would have been an estimated $7-per-month household average increase. Under the settlement, the overall rate increase is reduced to $46 million per year, which will be about $2.38 more per month for the average residential customer. PSO wanted the money to get back the cost of “system investments” since 2017 and for other “modernization efforts.” The Commission did not approve a request to put in “performance-based rates.”