January 23, 2017 4:26 AM ET

Electric Utilities

Company Overview of Public Service Company of Oklahoma

Company Overview

Public Service Company of Oklahoma engages in the generation, transmission, and distribution of electric power to retail customers in eastern and southwestern Oklahoma. It also supplies and markets electric power at wholesale to other electric utility companies, municipalities, rural electric cooperatives, and other market participants. The company owns 4,432 megawatts of generating capacity. It primarily serves paper manufacturing and timber products, natural gas and oil extraction, transportation, non-metallic mineral production, oil refining, and steel processing industries. The company provides electric power to approximately 545,000 retail customers. The company was founded in 1889 and ...

1 Riverside Plaza

Columbus, OH 43215

United States

Founded in 1889

1,134 Employees



Key Executives for Public Service Company of Oklahoma

Chairman of the Board and Chief Executive Officer
Age: 56
President and Chief Operating Officer
Age: 54
Chief Financial Officer, Vice President and Director
Age: 48
Managing Director of Transmission Field Services - West
Chief Accounting Officer and Controller
Compensation as of Fiscal Year 2016.

Public Service Company of Oklahoma Key Developments

Public Service Company of Oklahoma and Oklahoma Banks Partner to Strengthen Regional Economy

Public Service Company of Oklahoma (PSO) announced the renewal of a partnership that promotes regional economic development and provides financing to fund PSO's ongoing capital needs. PSO has teamed up with regional and local banks to renew its senior unsecured three-year term loan providing $125 million in financing for PSO's electric system assets to serve its customers. The original agreement was announced in November 2013. BOK Financial will be the sole lead arranger and administrative agent. Seven additional Oklahoma banks that have a substantial presence in PSO's service territory are participating in the financing. Those banks are: Arvest Bank; AVB; BancFirst; First National Bank Shawnee; Mabrey Bank; MidFirst Bank; Prosperity Bank. Having Oklahoma banks provide financing for utility capital assets expands more traditional financing strategies employed by PSO.

Public Service Company of Oklahoma Announces Executive Changes

A new vice president for Public Service Company of Oklahoma (PSO) has been named to oversee the company's generating assets. Tommy Slater, currently the plant manager at Southwestern Electric Power Company's (SWEPCO) Welsh Plant in Pittsburg, TX, will take over as v.p. for Gary Knight, who is retiring September 1 after 35 years of service with PSO. Slater first joined SWEPCO in 1976. Prior to his appointment as manager at Welsh in 2010, he worked as a start-up engineer and lead start-up engineer, plant shift supervisor, and manager for SWEPCO's regional engineering organization. In his new role, Slater will be responsible for overall operations, maintenance, continuous improvement and safety culture at all PSO generating facilities. Slater assumes his new position August 28, 2016.

Public Service Company of Oklahoma Plans to Add Solar Capacity, Increase its Use of Wind Power

Public Service Co. of Oklahoma expected to add up to 200 megawatts of solar capacity and bolster its wind offerings, according to a planning document outlined before regulators on September 10, 2015. The utility, which has 543,000 electricity customers in eastern and southwestern Oklahoma, presented its draft integrated resource plan at the Oklahoma Corporation Commission. Though not binding, utilities have to submit the plans every three years to regulators. The plan represents PSO's "best guess" at what its capacity and generation mix could look like by 2024. The utility expects to boost its natural gas generation, continue to add wind capacity and make a foray into utility-scale solar. Those changes come along with expected reductions in demand from various energy efficiency and conservation programs. If approved, the plan would increase residential customer bills 15% in the next year. The integrated resource plan assumes those projects will be complete and PSO's generation output from coal will go from 55% in 2015 to 16% by 2024. Natural gas generation would go from 13% to 47% in that same period. Wind would make up 28% of its electricity generation in 2024, almost double from 2015. The utility is still studying scenarios under the Obama administration's Clean Power Plan to cut carbon dioxide and other greenhouse gas emissions from power plants. Fate said PSO's generating plants are well-positioned under the final version of the rule, but it's up to the state to formulate a compliance plan or let the federal government come up with one.PSO last year signed three power-purchase agreements for 600 megawatts of wind from Oklahoma projects that will come online by 2016. The utility said it also expects to add at least another 100 megawatts next year under its planning scenario to take advantage of low wind prices and the federal production tax credit. That would double PSO's current wind capacity, which is 690 megawatts. PSO's plan includes adding 50 megawatts of utility-scale solar each year from 2021 to 2024.PSO also expects to add 390 megawatts of natural gas generation in 2022 and another 870 megawatts of natural gas by 2024. Those would be base load, combined-cycle generating units. Among those options could be a natural gas repowering of a coal unit at PSO's Northeastern Station plant that's expected to retire in 2016. PSO is forecasting strong growth in the industrial class in the next couple of years, driven by demand in the oil and gas sector. PSO's electricity sales to the energy industry are up almost 22% from a year ago.

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