OG&E (OGE) Announces Settlement in Oklahoma Rate Case; OGE Energy Reaffirms FY12 Outlook

July 2, 2012 4:19 PM EDT
Oklahoma Gas and Electric (OG&E) has accepted a settlement in its nearly year-long Oklahoma rate case.

Terms of the settlement include an approximate $4 million increase in the amount OG&E receives from base rates, a 10.2 percent return on equity, extension of funding for the company's System Hardening program, which is designed to improve reliability, and establishment of a procedure to expedite the recovery of the costs of high-voltage transmission projects.

OG&E's parent company, OGE Energy Corp. (NYSE: OGE), today reiterated its 2012 consolidated earnings guidance of $3.40 to $3.60 per average diluted share assuming normal weather for the remainder of the year. More information will be provided in OGE Energy's second quarter 10Q scheduled for filing with the Securities and Exchange Commission on August 2, 2012. (Consensus is $3.57)

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