As part of its long-range plan to increase reliance on natural gas and renewable energy resources, Public Service Company of Oklahoma (PSO) today filed an application seeking regulatory approval to add 675 megawatts (MW) of Oklahoma wind-generated power to its energy mix. This reflects a 45.5% share of 1,485 MW total requested in conjunction with its sister company, Southwestern Electric Power Company (SWEPCO).
The proposal includes partial ownership in three Oklahoma wind generation facilities located in seven counties in north central Oklahoma – Alfalfa, Blaine, Custer, Garfield, Kingfisher, Major and Woods counties. The three facilities represent approximately a $2 billion investment in Oklahoma and PSO’s 45.5% ownership share is projected to save PSO customers over $1 billion, net of cost, during the time they’re in service.
“Our long-range goal at PSO is to rely on a well-balanced mix of natural gas and renewable sources like wind to meet the needs of our customers,” said Peggy Simmons, PSO president and COO. “We’re excited about this opportunity because it will save our customers money and boost the state’s economy with new investment and tax revenues.”
Oklahoma wind power currently makes up approximately 20 percent (1,137 MW) of the energy serving PSO’s customers. The company’s long-term plan shows customers will benefit from additional wind energy beginning in 2022. PSO began a robust competitive bidding process in early 2019, which determined these resources deliver the most overall value to customers.
PSO is pursuing this acquisition in conjunction with its sister company, Southwestern Electric Power Company (SWEPCO). The amount of generation acquired by PSO or SWEPCO can be scaled to align with individual state resource needs, as determined by the respective state commissions. The wind energy will come online by December 2021 pending regulatory approvals.
PSO’s current energy plan also includes increased natural gas and solar generation resources to meet PSO customer needs over the next ten years.
About Public Service Company of Oklahoma (PSO)
PSO, a unit of American Electric Power (NYSE: AEP), is an electric utility company serving over 550,000 customer accounts in eastern and southwestern Oklahoma. Based in Tulsa, PSO has approximately 3,800 megawatts of generating capacity and is a significant provider of wind energy in the state. News releases and other information about PSO can be found at www.PSOklahoma.com.
About American Electric Power (AEP)
American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s more than 18,000 employees operate and maintain the nation’s largest electricity transmission system and more than 219,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 32,000 megawatts of diverse generating capacity, including nearly 5,300 megawatts of renewable generation. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide.