FAYETTEVILLE (KFSM) – For Ozark Electric customers, rates are going to increase in Oklahoma and Arkansas.
“As with anything, the cost is going up. And, our rates are going up,” said Penny Storms, spokeswoman for Ozark Electric. “[Rates will increase for] 15,000 members in Oklahoma, and about 55,000 in Arkansas.”
The rate hike will be based on percentage, equally impacting all customers in its own way.
“In Arkansas it is 4.12 percent, and in Oklahoma it is 2.76 percent,” Storms said.
Storms said the cost of production, and other factors, are to blame for the increase.
“Our area is growing rapidly, which means there are more consumers,” Storms said. “Which means you have to have more plants, more polls, more wires, and more generation capacity.”
Storms said, although nobody ever wants to see a hike, she believed the percentage increase at hand would be both fair, and feasible, for customers.
Rate increases are set to start June 1, 2016.