On the heels of a significant weather event that once tested the resilience of Oklahomans, legislators are taking steps to shield the state's utility customers from any further financial hits. Oklahoma Senator Lisa Standridge, a Republican from Norman, has pushed forward a bill aimed at protecting utility ratepayers from additional fees and taxes in the wake of Winter Storm Uri.
The bill in question, House Bill 1220, is poised to stop municipalities from slapping franchise fees or taxes on the repayment of borrowed funds, specifically the securitization obtained by both public and private utility companies. "This legislation is a consumer protection measure that protects all utility ratepayers," Standridge said, in a statement reported by Oklahoma State Senate. The Regulated Consumer Protection Act of 2021, which emerged as a legislative answer to the financial shockwave caused by the storm's influence on natural gas prices, had not intended for such additional expenses to fall on ratepayers.
The legislation was given the green light by the Senate Energy Committee and will now head to the Senate Appropriations Committee for consideration. Standridge's initiative has found support in the state's lower chamber as well, with Republican Representative Kevin West of Moore taking up the mantle as principal House author. West initiated HB 1220 in response to actions by Oklahoma City, which with the encouragement of the Oklahoma Municipal League, had filed a lawsuit seeking the authority to impose local franchise fees on securitization payments.
Standridge and West's efforts look to fortify the financial bulwark for Oklahomans still bearing the long-term costs associated with Winter Storm Uri. With lawmakers such as these standing guard, the aim is to keep utility costs within bounds and prevent them from escalating beyond the reach of regular citizens. "House Bill 1220 will keep utility costs manageable for all Oklahomans by preventing municipalities from adding these pass-through fees to utility bills," Standridge assured, as per her remarks to the Oklahoma State Senate. As the bill inches closer to becoming law, the hope remains that citizens already weathering the cost of Uri's long past storm will not be subjected to a new deluge of financial demands.
