OG&E has filed an application with the Oklahoma Corporation Commission seeking approval to install smart meters and related technology across the company's Oklahoma service area.
Smart meters, when supported by in-home tools and new pricing models, will give customers opportunities to make energy-use decisions that shift demand away from peak afternoon hours, when electricity costs are at their highest, to lower-cost times of day - saving money on their monthly bills and helping OG&E delay the need for the costly addition of more generating capacity.
"This technology is an integral component of our plan to avoid new fossil fuel generation until after 2020," said Howard Motley, vice president of regulatory affairs for OG&E.
OG&E has already been given approval to install 42,000 smart meters in Norman. That approval also directed the company to conduct a study of in-home tools and innovative rate plans to help determine how customers can best benefit from the new technology. If the Commission approves the plan, OG&E will install more than 600,000 smart meters in its Oklahoma service area in the next three years.
If approved, OG&E's proposal would increase the average customer's electric bill by about $2 per month for three years. The amount includes the costs for the Norman project, which the Commission previously approved. The filing also includes the benefits of a $130 million federal stimulus grant that helps offset costs to customers.