Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2020shares | |
Entity Information [Line Items] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 2020 |
Document Transition Report | false |
Entity File Number | 1-1097 |
Entity Registrant Name | OKLAHOMA GAS AND ELECTRIC COMPANY |
Entity Incorporation, State or Country Code | OK |
Entity Tax Identification Number | 73-0382390 |
Entity Central Index Key | 0000074145 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | false |
Entity Address, Address Line One | 321 North Harvey |
Entity Address, Address Line Two | P.O. Box 321 |
Entity Address, City or Town | Oklahoma City |
Entity Address, State or Province | OK |
Entity Address, Postal Zip Code | 73101-0321 |
City Area Code | 405 |
Local Phone Number | 553-3000 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | false |
Entity Small Business | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 40,378,745 |
CONDENSED STATEMENTS OF INCOME
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income Statement [Abstract] | ||||
Revenues from contracts with customers | $ 687.8 | $ 739.2 | $ 1,600.2 | $ 1,717.7 |
Other revenues | 14.3 | 16.2 | 36.7 | 41.4 |
Operating revenues | 702.1 | 755.4 | 1,636.9 | 1,759.1 |
COST OF SALES | 209.1 | 234 | 481.5 | 625.3 |
OPERATING EXPENSES | ||||
Other operation and maintenance | 110.1 | 130 | 348.8 | 370.3 |
Depreciation and amortization | 100.5 | 94.1 | 292.2 | 260.8 |
Taxes other than income | 23.9 | 22.3 | 72.8 | 66.8 |
Operating expenses | 234.5 | 246.4 | 713.8 | 697.9 |
OPERATING INCOME | 258.5 | 275 | 441.6 | 435.9 |
OTHER INCOME (EXPENSE) | ||||
Allowance for equity funds used during construction | 1.1 | 1 | 3.7 | 3.7 |
Other net periodic benefit expense | (1.3) | (0.7) | (2.8) | (0.3) |
Other income | 1.1 | 2 | 3.7 | 4.5 |
Other expense | (0.3) | (2.4) | (1.7) | (3.9) |
Net other income | 0.6 | (0.1) | 2.9 | 4 |
INTEREST EXPENSE | ||||
Interest on long-term debt | 38.7 | 37.5 | 114.1 | 101.9 |
Allowance for borrowed funds used during construction | (0.5) | (0.6) | (1.5) | (2.2) |
Interest on short-term debt and other interest charges | 1.3 | 1.1 | 3.1 | 4 |
Interest expense | 39.5 | 38 | 115.7 | 103.7 |
INCOME BEFORE TAXES | 219.6 | 236.9 | 328.8 | 336.2 |
INCOME TAX EXPENSE | 20.1 | 9.7 | 30.5 | 14.9 |
NET INCOME | 199.5 | 227.2 | 298.3 | 321.3 |
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 |
COMPREHENSIVE INCOME | $ 199.5 | $ 227.2 | $ 298.3 | $ 321.3 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 298.3 | $ 321.3 |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] | ||
Depreciation and amortization | 292.2 | 260.8 |
Deferred income taxes and investment tax credits, net | 23.9 | 8.7 |
Allowance for equity funds used during construction | (3.7) | (3.7) |
Stock-based compensation expense | 2.2 | 3.7 |
Regulatory assets | (8.5) | (48.1) |
Regulatory liabilities | (48.6) | (32.1) |
Other assets | (3.2) | 2.8 |
Other liabilities | (27.6) | 1.1 |
Change in certain current assets and liabilities: | ||
Accounts receivable and accrued unbilled revenues, net | (62.4) | (78.6) |
Fuel, materials and supplies inventories | (2) | 8 |
Fuel recoveries | 74.3 | (44.8) |
Other current assets | (5.8) | 8.9 |
Accounts payable | (59.6) | (54.1) |
Income taxes payable - parent | 9.6 | 2.6 |
Other current liabilities | (0.7) | (13.1) |
Net cash provided from operating activities | 478.4 | 343.4 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures (less allowance for equity funds used during construction) | (419.7) | (476.5) |
Net cash used in investing activities | (419.7) | (476.5) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Dividends paid on common stock | (75) | 0 |
Proceeds from long-term debt | 297.1 | 296.4 |
Payment of long-term debt | (0.1) | (250) |
Changes in advances with parent | (248.7) | 99.9 |
Net cash provided from (used in) financing activities | (26.7) | 146.3 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 32 | 13.2 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 0 | 0 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ 32 | $ 13.2 |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
CURRENT ASSETS | ||
Cash and Cash Equivalents, at Carrying Value | $ 32 | $ 0 |
Accounts receivable, less reserve of $2.6 and $1.5, respectively | 209 | 153.8 |
Accrued unbilled revenues | 71.9 | 64.7 |
Advances to parent | 293.9 | 304.8 |
Fuel inventories | 36.5 | 46.3 |
Materials and supplies, at average cost | 107 | 90.6 |
Fuel clause under recoveries | 0 | 39.5 |
Other | 25.4 | 19.6 |
Total current assets | 775.7 | 719.3 |
OTHER PROPERTY AND INVESTMENTS | 4.4 | 4.7 |
PROPERTY, PLANT AND EQUIPMENT | ||
In service | 13,109.1 | 12,765 |
Construction work in progress | 128.9 | 141.6 |
Total property, plant and equipment | 13,238 | 12,906.6 |
Less: accumulated depreciation | 4,010.1 | 3,868.1 |
Net property, plant and equipment | 9,227.9 | 9,038.5 |
DEFERRED CHARGES AND OTHER ASSETS | ||
Regulatory assets | 301.6 | 306 |
Other | 13.7 | 8.1 |
Total deferred charges and other assets | 315.3 | 314.1 |
TOTAL ASSETS | 10,323.3 | 10,076.6 |
Liabilities, Current [Abstract] | ||
Accounts payable | 112.4 | 175 |
Customer deposits | 82.4 | 83 |
Accrued taxes | 70.7 | 41.9 |
Accrued interest | 40.4 | 37.9 |
Accrued compensation | 24.4 | 29.5 |
Fuel clause over recoveries | 39.6 | 4.8 |
Other | 38.8 | 65.1 |
Total current liabilities | 408.7 | 437.2 |
Long-term Debt, Excluding Current Maturities | 3,493.9 | 3,195.2 |
Liabilities, Other than Long-term Debt, Noncurrent [Abstract] | ||
Accrued benefit obligations | 115 | 133.3 |
Deferred income taxes | 996.2 | 951.4 |
Deferred investment tax credits | 10.2 | 7.1 |
Regulatory Liability, Noncurrent | 1,199.4 | 1,223.5 |
Other | 166.1 | 170.6 |
Liabilities, Other than Long-term Debt, Noncurrent, Total | 2,486.9 | 2,485.9 |
Liabilities, Total | 6,389.5 | 6,118.3 |
COMMITMENTS AND CONTINGENCIES (NOTE 11) | ||
Stockholders' Equity Attributable to Parent [Abstract] | ||
Common stockholder's equity | 1,038.8 | 1,036.6 |
Retained earnings | 2,895 | 2,921.7 |
Stockholders' Equity Attributable to Parent, Total | 3,933.8 | 3,958.3 |
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | $ 10,323.3 | $ 10,076.6 |
CONDENSED BALANCE SHEETS (Una_2
CONDENSED BALANCE SHEETS (Unaudited) Parenthetical - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts Receivable, Allowance for Credit Loss | $ 2.6 | $ 1.5 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Common Stock | Premium on Common Stock | Retained Earnings |
Common Stock, Shares, Outstanding | 40.4 | |||
Net Income (Loss), Including portion attributable to noncontrolling interest, Number of Shares | 0 | |||
Balance at Dec. 31, 2018 | $ 3,603.3 | $ 100.9 | $ 930.9 | $ 2,571.5 |
Changes in Stockholders' Equity | ||||
Net income | 19.6 | $ 0 | 0 | 19.6 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Number of Shares | 0 | |||
Stock-based compensation | 1 | $ 0 | 1 | 0 |
Balance at Mar. 31, 2019 | 3,623.9 | 100.9 | 931.9 | 2,591.1 |
Balance at Dec. 31, 2018 | 3,603.3 | 100.9 | 930.9 | 2,571.5 |
Changes in Stockholders' Equity | ||||
Net income | 321.3 | |||
Balance at Sep. 30, 2019 | 3,928.2 | $ 100.9 | 934.5 | 2,892.8 |
Common Stock, Shares, Outstanding | 40.4 | |||
Net Income (Loss), Including portion attributable to noncontrolling interest, Number of Shares | 0 | |||
Balance at Mar. 31, 2019 | 3,623.9 | $ 100.9 | 931.9 | 2,591.1 |
Changes in Stockholders' Equity | ||||
Net income | 74.5 | $ 0 | 0 | 74.5 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Number of Shares | 0 | |||
Stock-based compensation | 1 | $ 0 | 1 | 0 |
Balance at Jun. 30, 2019 | 3,699.4 | $ 100.9 | 932.9 | 2,665.6 |
Common Stock, Shares, Outstanding | 40.4 | |||
Net Income (Loss), Including portion attributable to noncontrolling interest, Number of Shares | 0 | |||
Changes in Stockholders' Equity | ||||
Net income | 227.2 | $ 0 | 0 | 227.2 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Number of Shares | 0 | |||
Stock-based compensation | 1.6 | $ 0 | 1.6 | 0 |
Balance at Sep. 30, 2019 | 3,928.2 | $ 100.9 | 934.5 | 2,892.8 |
Common Stock, Shares, Outstanding | 40.4 | |||
Common Stock, Shares, Outstanding | 40.4 | |||
Net Income (Loss), Including portion attributable to noncontrolling interest, Number of Shares | 0 | |||
Balance at Dec. 31, 2019 | 3,958.3 | $ 100.9 | 935.7 | 2,921.7 |
Changes in Stockholders' Equity | ||||
Net income | 19.9 | $ 0 | 0 | 19.9 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Number of Shares | 0 | |||
Stock-based compensation | 0.9 | $ 0 | 0.9 | 0 |
Balance at Mar. 31, 2020 | 3,979.1 | 100.9 | 936.6 | 2,941.6 |
Balance at Dec. 31, 2019 | 3,958.3 | 100.9 | 935.7 | 2,921.7 |
Changes in Stockholders' Equity | ||||
Net income | 298.3 | |||
Balance at Sep. 30, 2020 | 3,933.8 | $ 100.9 | 937.9 | 2,895 |
Common Stock, Shares, Outstanding | 40.4 | |||
Net Income (Loss), Including portion attributable to noncontrolling interest, Number of Shares | 0 | |||
Balance at Mar. 31, 2020 | 3,979.1 | $ 100.9 | 936.6 | 2,941.6 |
Changes in Stockholders' Equity | ||||
Net income | 78.9 | $ 0 | 0 | 78.9 |
Dividends, Common Stock, Cash, Number of Shares | 0 | |||
Dividends, Common Stock, Cash | (75) | $ 0 | 0 | (75) |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Number of Shares | 0 | |||
Stock-based compensation | 0.7 | $ 0 | 0.7 | 0 |
Balance at Jun. 30, 2020 | 3,983.7 | $ 100.9 | 937.3 | 2,945.5 |
Common Stock, Shares, Outstanding | 40.4 | |||
Net Income (Loss), Including portion attributable to noncontrolling interest, Number of Shares | 0 | |||
Changes in Stockholders' Equity | ||||
Net income | 199.5 | $ 0 | 0 | 199.5 |
Dividends, Common Stock, Cash, Number of Shares | 0 | |||
Dividends, Common Stock, Cash | (250) | $ 0 | 0 | (250) |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Number of Shares | 0 | |||
Stock-based compensation | 0.6 | $ 0 | 0.6 | 0 |
Balance at Sep. 30, 2020 | $ 3,933.8 | $ 100.9 | $ 937.9 | $ 2,895 |
Common Stock, Shares, Outstanding | 40.4 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies OG&E's significant accounting policies are detailed in "Note 1. Summary of Significant Accounting Policies" in OG&E's 2019 Form 10-K . Changes to OG&E's accounting policies as a result of adopting ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Information" are incorporated within "Allowance for Uncollectible Accounts Receivables" below and discussed in Note 2. |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Organization OG&E generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas. Its operations are subject to regulation by the OCC, the APSC and the FERC. OG&E was incorporated in 1902 under the laws of the Oklahoma Territory. OG&E is the largest electric utility in Oklahoma, and its franchised service territory includes Fort Smith, Arkansas and the surrounding communities. OG&E sold its retail natural gas business in 1928 and is no longer engaged in the natural gas distribution business. OG&E is a wholly-owned subsidiary of OGE Energy, a holding company with investments in energy and energy services providers offering physical delivery and related services for both electricity and natural gas primarily in the south-central U.S. |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Basis of Presentation The Condensed Financial Statements included herein have been prepared by OG&E, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations; however, OG&E believes that the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments necessary to fairly present the financial position of OG&E at September 30, 2020 and December 31, 2019, the results of its operations for the three and nine months ended September 30, 2020 and 2019 and its cash flows for the nine months ended September 30, 2020 and 2019 have been included and are of a normal, recurring nature except as otherwise disclosed. Management also has evaluated the impact of events occurring after September 30, 2020 up to the date of issuance of these Condensed Financial Statements, and these statements contain all necessary adjustments and disclosures resulting from that evaluation. Due to seasonal fluctuations and other factors, OG&E's operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or for any future period. The Condensed Financial Statements and Notes thereto should be read in conjunction with the audited Financial Statements and Notes thereto included in OG&E's 2019 Form 10-K . |
Schedule of Regulatory Assets and Liabilities [Text Block] | Accounting Records The accounting records of OG&E are maintained in accordance with the Uniform System of Accounts prescribed by the FERC and adopted by the OCC and the APSC. Additionally, OG&E, as a regulated utility, is subject to accounting principles for certain types of rate-regulated activities, which provide that certain incurred costs that would otherwise be charged to expense can be deferred as regulatory assets, based on the expected recovery from customers in future rates. Likewise, certain actual or anticipated credits that would otherwise reduce expense can be deferred as regulatory liabilities, based on the expected flowback to customers in future rates. Management's expected recovery of deferred costs and flowback of deferred credits generally results from specific decisions by regulators granting such ratemaking treatment. OG&E records certain incurred costs and obligations as regulatory assets or liabilities if, based on regulatory orders or other available evidence, it is probable that the costs or obligations will be included in amounts allowable for recovery or refund in future rates. The following table is a summary of OG&E's regulatory assets and liabilities. September 30, December 31, (In millions) 2020 2019 REGULATORY ASSETS Current: SPP cost tracker under recovery (A) $ 4.6 $ — Generation Capacity Replacement rider under recovery (A) 1.2 3.7 Fuel clause under recoveries — 39.5 Other (A) 9.7 5.5 Total current regulatory assets $ 15.5 $ 48.7 Non-current: Benefit obligations regulatory asset $ 150.2 $ 167.2 Deferred storm expenses 70.2 65.5 Sooner Dry Scrubbers 19.9 20.6 Smart Grid 13.1 18.4 Unamortized loss on reacquired debt 9.9 10.6 Arkansas deferred pension expenses 8.4 8.0 Pension tracker 8.1 2.3 COVID-19 deferred expenses 4.9 — Other 16.9 13.4 Total non-current regulatory assets $ 301.6 $ 306.0 REGULATORY LIABILITIES Current: Fuel clause over recoveries $ 39.6 $ 4.8 Oklahoma demand program rider over recovery (B) 5.8 2.0 Reserve for tax refund and interim surcharge (B) 1.3 12.7 SPP cost tracker over recovery (B) — 2.6 Other (B) 4.9 6.9 Total current regulatory liabilities $ 51.6 $ 29.0 Non-current: Income taxes refundable to customers, net $ 875.5 $ 899.2 Accrued removal obligations, net 318.9 318.5 Other 5.0 5.8 Total non-current regulatory liabilities $ 1,199.4 $ 1,223.5 (A) Included in Other Current Assets in the Condensed Balance Sheets. (B) Included in Other Current Liabilities in the Condensed Balance Sheets. |
Allowance for Credit Losses | Allowance for Uncollectible Accounts Receivable Customer balances are generally written off if not collected within six months after the final billing date. The allowance for uncollectible accounts receivable for OG&E is generally calculated by multiplying the last six months of electric revenue by the provision rate, which is based on a 12-month historical average of actual balances written off and is adjusted for current conditions and supportable forecasts as necessary. To the extent the historical collection rates, when incorporating forecasted conditions, are not representative of future collections, there could be an effect on the amount of uncollectible expense recognized, such as in response to COVID-19 impacts. Also, a portion of the uncollectible provision related to fuel within the Oklahoma jurisdiction is being recovered through the fuel adjustment clause. The allowance for uncollectible accounts receivable is a reduction to Accounts Receivable in the Condensed Balance Sheets and is included in the Other Operation and Maintenance in the Condensed Statements of Income. New business customers are required to provide a security deposit in the form of cash, bond or irrevocable letter of credit that is refunded when the account is closed. New residential customers whose outside credit scores indicate an elevated risk are required to provide a security deposit that may be refunded based on customer protection rules defined by the OCC and the APSC. The payment behavior of all existing customers is continuously monitored, and, if the payment behavior indicates sufficient risk within the meaning of the applicable utility regulation, customers will be required to provide a security deposit. |
Accounting Pronouncements
Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Accounting Pronouncements Recently Adopted Accounting Standards The following table provides an overview of recently adopted accounting pronouncements and their impacts on OG&E. ASU Number and Name Description Date of Adoption Financial Statements and Disclosures Impact ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Information" This standard requires entities to measure all expected credit losses of financial assets held at a reporting date based on historical experience, current conditions and reasonable and supportable forecasts in order to record credit losses in a more timely manner. January 1, 2020 Utilizing a modified-retrospective approach, OG&E determined its only financial instrument requiring measurement under ASU 2016-13 is trade receivables. OG&E considers both future economic conditions and historical data to measure the reserve for trade receivables under this standard and determined no adjustments to its reserve were necessary upon adoption. ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)" The standard aligns requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. January 1, 2020 The new standard did not have a material effect on OG&E's financial statements upon adoption. Prospectively, OG&E records applicable capitalized implementation costs in Other Current Assets and related amortization expense in Other Operation and Maintenance. ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework" The standard removes, adds or modifies disclosure requirements that impact all levels of the fair value hierarchy, as well as investments measured using the net asset value practical expedient. January 1, 2020 OG&E applied the guidance on a retrospective or prospective basis, depending on the requirement, and did not experience a significant impact on its financial statement disclosures. ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)" The standard removes, adds or clarifies disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. January 1, 2020 OG&E applied the guidance on a retrospective basis and did not experience a significant impact on its financial statement disclosures. ASU 2020-04, "Reference Rate Reform (Topic 848)" This standard provides optional expedients and exceptions, if certain criteria are met, for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. January 1, 2020 The guidance did not have a material impact upon adoption, nor does OG&E expect a material impact in the future, on its financial statements. |
Revenues from Contracts with Cu
Revenues from Contracts with Customers (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Revenue Recognition The following table disaggregates OG&E's revenues from contracts with customers by customer classification. OG&E's operating revenues disaggregated by customer classification can be found in "Results of Operations" within "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations." Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Residential $ 294.9 $ 318.9 $ 664.6 $ 692.4 Commercial 156.7 172.9 361.0 383.7 Industrial 59.3 66.8 145.5 172.0 Oilfield 50.6 58.6 127.2 156.9 Public authorities and street light 57.8 65.7 133.1 150.2 System sales revenues 619.3 682.9 1,431.4 1,555.2 Provision for rate refund 4.8 (2.3) 3.2 (2.9) Integrated market 18.0 12.8 33.7 29.8 Transmission 35.0 36.7 109.0 112.6 Other 10.7 9.1 22.9 23.0 Revenues from contracts with customers $ 687.8 $ 739.2 $ 1,600.2 $ 1,717.7 |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2020 | |
Related Party Transaction [Line Items] | |
Related Party Transactions Disclosure [Text Block] | Related Party Transactions OGE Energy charges operating costs to OG&E based on several factors, and operating costs directly related to OG&E are assigned as such. Operating costs incurred for the benefit of OG&E are allocated either as overhead based primarily on labor costs or using the "Distrigas" method, which is a three-factor formula that uses an equal weighting of payroll, net operating revenues and gross property, plant and equipment. OGE Energy charged operating costs to OG&E of $32.7 million and $37.0 million during the three months ended September 30, 2020 and 2019, respectively, and $107.5 million and $109.9 million during the nine months ended September 30, 2020 and 2019, respectively. Enable provides gas transportation services to OG&E pursuant to an agreement that grants Enable the responsibility of delivering natural gas to OG&E's generating facilities and performing an imbalance service. With this imbalance service, in accordance with the cash-out provision of the contract, OG&E purchases gas from Enable when Enable's deliveries exceed OG&E's pipeline receipts. Enable purchases gas from OG&E when OG&E's pipeline receipts exceed Enable's deliveries. The following table summarizes related party transactions between OG&E and Enable during the three and nine months ended September 30, 2020 and 2019. Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Operating revenues: Electricity to power electric compression assets $ 4.5 $ 4.5 $ 11.7 $ 12.1 Cost of sales: Natural gas transportation services $ 9.3 $ 9.4 $ 23.4 $ 33.5 Natural gas purchases (sales) $ 3.2 $ (1.1) $ 2.2 $ (5.4) |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement [Text Block] | Fair Value MeasurementsThe classification of OG&E's fair value measurements requires judgment regarding the degree to which market data is observable or corroborated by observable market data. GAAP establishes a fair value hierarchy that prioritizes the inputs used to measure fair value based on observable and unobservable data. The hierarchy categorizes the inputs into three levels, with the highest priority given to quoted prices in active markets for identical unrestricted assets or liabilities (Level 1), and the lowest priority given to unobservable inputs (Level 3). Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The three levels defined in the fair value hierarchy are as follows: Level 1 inputs are quoted prices in active markets for identical unrestricted assets or liabilities that are accessible at the measurement date. Level 2 inputs are inputs other than quoted prices in active markets included within Level 1 that are either directly or indirectly observable at the reporting date for the asset or liability for substantially the full term of the asset or liability. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3 inputs are prices or valuation techniques for the asset or liability that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Unobservable inputs reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). OG&E had no financial instruments measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019. The following table summarizes the carrying amount and fair value of OG&E's financial instruments at September 30, 2020 and December 31, 2019. September 30, December 31, 2020 2019 (In millions) Carrying Amount Fair Carrying Amount Fair Classification Long-term Debt (including Long-term Debt due within one year): Senior Notes $ 3,349.0 $ 4,116.5 $ 3,050.3 $ 3,500.4 Level 2 Industrial Authority Bonds $ 135.4 $ 135.4 $ 135.4 $ 135.4 Level 2 Tinker Debt $ 9.5 $ 10.6 $ 9.5 $ 10.0 Level 3 |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement [Text Block] | Stock-Based Compensation The following table summarizes OG&E's pre-tax compensation expense and related income tax benefit during the three and nine months ended September 30, 2020 and 2019 related to OGE Energy's performance units and restricted stock units for OG&E employees. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2020 2019 2020 2019 Performance units: Total shareholder return $ 0.5 $ 0.8 $ 1.8 $ 2.3 Earnings per share — 0.8 0.1 1.1 Total performance units 0.5 1.6 1.9 3.4 Restricted stock units 0.1 0.1 0.3 0.3 Total compensation expense $ 0.6 $ 1.7 $ 2.2 $ 3.7 Income tax benefit $ 0.2 $ 0.4 $ 0.6 $ 0.9 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Income TaxesOG&E is a member of an affiliated group that files consolidated income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, OG&E is no longer subject to U.S. federal tax or state and local examinations by tax authorities for years prior to 2016. Income taxes are generally allocated to each company in the affiliated group based on its stand-alone taxable income or loss. Federal investment tax credits previously claimed on electric utility property have been deferred and will be amortized to income over the life of the related property. Additionally, OG&E earns federal tax credits associated with production from its wind facilities. Oklahoma production and investment state tax credits are also earned on investments in electric and solar generating facilities which further reduce OG&E's effective tax rate. |
Long-Term Debt
Long-Term Debt | 9 Months Ended |
Sep. 30, 2020 | |
Long-term Debt, Unclassified [Abstract] | |
Long-Term Debt [Text Block] | Long-Term Debt At September 30, 2020, OG&E was in compliance with all of its debt agreements. Industrial Authority Bonds OG&E has tax-exempt pollution control bonds with optional redemption provisions that allow the holders to request repayment of the bonds on any business day. The bonds, which can be tendered at the option of the holder during the next 12 months, are included in the following table. Series Date Due Amount (In millions) 0.30% - 5.35% Garfield Industrial Authority, January 1, 2025 $ 47.0 0.33% - 4.31% Muskogee Industrial Authority, January 1, 2025 32.4 0.30% - 5.35% Muskogee Industrial Authority, June 1, 2027 56.0 Total (redeemable during next 12 months) $ 135.4 All of these bonds are subject to an optional tender at the request of the holders, at 100 percent of the principal amount, together with accrued and unpaid interest to the date of purchase. The bond holders, on any business day, can request repayment of the bond by delivering an irrevocable notice to the tender agent stating the principal amount of the bond, payment instructions for the purchase price and the business day the bond is to be purchased. The repayment option may only be exercised by the holder of a bond for the principal amount. When a tender notice has been received by the trustee, a third-party remarketing agent for the bonds will attempt to remarket any bonds tendered for purchase. This process occurs once per week. Since the original issuance of these series of bonds in 1995 and 1997, the remarketing agent has successfully remarketed all tendered bonds. If the remarketing agent is unable to remarket any such bonds, OG&E is obligated to repurchase such unremarketed bonds. As OG&E has both the intent and ability to refinance the bonds on a long-term basis and such ability is supported by an ability to consummate the refinancing, the bonds are classified as Long-term Debt in OG&E's Condensed Balance Sheets. OG&E believes that it has sufficient liquidity to meet these obligations. Issuance of Long-Term Debt In April 2020, OG&E issued $300.0 million of 3.25 percent senior notes due April 1, 2030. The proceeds from the issuance were added to OG&E's general funds to be used for general corporate purposes, including to fund ongoing capital expenditures and working capital. |
Short-Term Debt and Credit Faci
Short-Term Debt and Credit Facility | 9 Months Ended |
Sep. 30, 2020 | |
Short-term Debt [Abstract] | |
Short-Term Debt and Credit Facility [Text Block] | Short-Term Debt and Credit Facility OG&E has a $450.0 million revolving credit facility that matures on March 8, 2023. This facility is available to back up OG&E's commercial paper borrowings, to provide revolving credit borrowings and can also be used as a letter of credit facility. At September 30, 2020, there were $0.3 million supporting letters of credit outstanding at a weighted-average interest rate of 1.15 percent. There were no outstanding commercial paper borrowings at September 30, 2020. At September 30, 2020, there were $293.9 million in advances to OGE Energy compared to $304.8 million at December 31, 2019. OG&E has an intercompany borrowing agreement with OGE Energy whereby OG&E has access to up to $350.0 million of OGE Energy's revolving credit amount. This agreement has a termination date of March 8, 2023. At September 30, 2020, there were no intercompany borrowings under this agreement. OGE Energy's and OG&E's ability to access the commercial paper market could be adversely impacted by a credit ratings downgrade or major market disruptions. Pricing grids associated with OGE Energy's and OG&E's credit facilities could cause annual fees and borrowing rates to increase if an adverse rating impact occurs. The impact of any future downgrade could include an increase in the costs of OGE Energy's and OG&E's short-term borrowings, but a reduction in OGE Energy's and OG&E's credit ratings would not result in any defaults or accelerations. Any future downgrade of OG&E could also lead to higher long-term borrowing costs and, if below investment grade, would require OG&E to post collateral or letters of credit. OG&E must obtain regulatory approval from the FERC in order to borrow on a short-term basis. OG&E has the necessary regulatory approvals to incur up to $800.0 million in short-term borrowings at any one time for a two-year period beginning January 1, 2019 and ending December 31, 2020. OG&E has requested renewal of this authority for an additional two-year period and expects to receive approval prior to the expiration of its current authority. |
Retirement Plans and Postretire
Retirement Plans and Postretirement Benefit Plans | 9 Months Ended |
Sep. 30, 2020 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Retirement Plans and Postretirement Benefit Plans In accordance with ASC Topic 715, "Compensation - Retirement Benefits," a one-time settlement charge is required to be recorded by an organization when lump sum payments or other settlements that relieve the organization from the responsibility for the pension benefit obligation during the plan year exceed the service cost and interest cost components of the organization's net periodic pension cost. During the nine months ended September 30, 2020, OG&E experienced an increase in both the number of employees electing to retire and the amount of lump sum payments paid to such employees upon retirement, which resulted in OG&E recording pension settlement charges of $10.8 million. The pension settlement charge did not require a cash outlay by OG&E and did not increase OG&E's total pension expense over time, as the charge was an acceleration of costs that otherwise would be recognized as pension expense in future periods. Net Periodic Benefit Cost The following table presents the net periodic benefit cost components, before consideration of capitalized amounts, of OG&E's portion of OGE Energy's Pension Plan, Restoration of Retirement Income Plan and postretirement benefit plans that are included in the Condensed Financial Statements. Service cost is presented within Other Operation and Maintenance, and the remaining net periodic benefit cost components as listed in the table below are presented within Other Net Periodic Benefit Expense in OG&E's Condensed Statements of Income. OG&E recovers specific amounts of pension and postretirement medical costs in rates approved in its Oklahoma rate reviews. In accordance with approved orders, OG&E defers the difference between actual pension and postretirement medical expenses and the amount approved in its last Oklahoma rate review as a regulatory asset or regulatory liability. These amounts have been recorded in the Pension tracker in the regulatory assets and liabilities table in Note 1 and within Other Net Periodic Benefit Expense in OG&E's Condensed Statements of Income. Pension Plan Restoration of Retirement Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (In millions) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost $ 2.3 $ 2.3 $ 6.8 $ 6.7 $ — $ — $ 0.1 $ 0.1 Interest cost 3.2 3.5 10.0 11.7 — — 0.1 0.1 Expected return on plan assets (7.0) (7.2) (20.9) (20.7) — — — — Amortization of net loss 3.0 3.3 9.0 9.7 0.1 0.1 0.3 0.3 Settlement cost 10.3 1.7 10.3 12.9 0.5 0.3 0.5 0.3 Total net periodic benefit cost 11.8 3.6 15.2 20.3 0.6 0.4 1.0 0.8 Plus: Amount allocated from OGE Energy 1.5 0.9 2.5 3.5 0.2 0.2 0.8 0.4 Net periodic benefit cost $ 13.3 $ 4.5 $ 17.7 $ 23.8 $ 0.8 $ 0.6 $ 1.8 $ 1.2 In addition to the net periodic benefit cost amounts recognized, as presented in the table above, for the Pension and Restoration of Retirement Income Plans for the three and nine months ended September 30, 2020 and 2019, OG&E recognized the following: Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Increase (decrease) of pension expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A)(B) $ 2.4 $ 1.5 $ 5.7 $ (0.2) Deferral of pension expense related to pension settlement charges: Oklahoma jurisdiction (A)(B) $ 10.8 $ 2.3 $ 11.1 $ 14.0 Arkansas jurisdiction (A)(B) $ 1.0 $ 0.2 $ 1.0 $ 1.3 (A) Included in the pension regulatory asset or liability in each jurisdiction, as indicated in the regulatory assets and liabilities table in Note 1. (B) Includes a portion of OGE Energy's pension expense. Postretirement Benefit Plans Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Service cost $ — $ — $ 0.1 $ 0.1 Interest cost 0.8 1.1 2.4 3.2 Expected return on plan assets (0.4) (0.4) (1.2) (1.3) Amortization of net loss 0.5 0.6 1.6 1.7 Amortization of unrecognized prior service cost (A) (1.5) (1.6) (4.6) (4.6) Total net periodic benefit cost (0.6) (0.3) (1.7) (0.9) Plus: Amount allocated from OGE Energy (0.2) (0.2) (0.6) (0.5) Net periodic benefit cost $ (0.8) $ (0.5) $ (2.3) $ (1.4) (A) Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment. In addition to the net periodic benefit income amounts recognized, as presented in the table above, for the postretirement benefit plans for the three and nine months ended September 30, 2020 and 2019, OG&E recognized the following: Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Increase of postretirement expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A)(B) $ 0.4 $ 0.1 $ 1.2 $ 0.9 (A) Included in the Pension tracker, as presented in the regulatory assets and liabilities table in Note 1. (B) Includes a portion of OGE Energy's pension expense. Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Capitalized portion of net periodic pension benefit cost $ 0.8 $ 0.7 $ 2.3 $ 2.2 Capitalized portion of net periodic postretirement benefit cost $ — $ — $ 0.1 $ 0.1 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Except as set forth below, in Note 12 and under "Environmental Laws and Regulations" in Item 2 of Part I and in Item 1 of Part II of this Form 10-Q, the circumstances set forth in Notes 14 and 15 to OG&E's Financial Statements included in OG&E's 2019 Form 10-K appropriately represent, in all material respects, the current status of OG&E's material commitments and contingent liabilities. Environmental Laws and Regulations The activities of OG&E are subject to numerous stringent and complex federal, state and local laws and regulations governing environmental protection. These laws and regulations can change, restrict or otherwise impact OG&E's business activities in many ways, including the handling or disposal of waste material, planning for future construction activities to avoid or mitigate harm to threatened or endangered species and requiring the installation and operation of emissions or pollution control equipment. Failure to comply with these laws and regulations could result in the assessment of administrative, civil and criminal penalties, the imposition of remedial requirements and the issuance of orders enjoining future operations. Management believes that all of its operations are in substantial compliance with current federal, state and local environmental standards. Environmental regulation can increase the cost of planning, design, initial installation and operation of OG&E's facilities. Management continues to evaluate its compliance with existing and proposed environmental legislation and regulations and implement appropriate environmental programs in a competitive market. Other |
Rate Matters and Regulation
Rate Matters and Regulation | 9 Months Ended |
Sep. 30, 2020 | |
Regulated Operations [Abstract] | |
Rate Matters And Regulation [Text Block] | Rate Matters and Regulation Except as set forth below, the circumstances set forth in Note 15 to the Financial Statements included in OG&E's 2019 Form 10-K appropriately represent, in all material respects, the current status of OG&E's regulatory matters. Completed Regulatory Matters APSC Proceedings Arkansas 2019 Formula Rate Plan Filing OG&E filed its second evaluation report under its Formula Rate Plan in October 2019. On February 28, 2020, the APSC approved a settlement agreement among OG&E, the General Staff of the APSC and the Office of the Arkansas Attorney General providing for a $5.2 million revenue increase, with rates effective April 1, 2020. The settling parties agreed that the Series I grid modernization projects are prudent in both action and cost and that the Series II grid modernization projects are prudent in action only and the determination of prudence of costs will be reserved until the actual historical costs are reviewed. The settling parties also agreed that OG&E will no longer use projections for the remaining initial term or extension of its current Formula Rate Plan and that all costs will be included for recovery for the first time in the historical year. Order Regarding COVID-19 On April 10, 2020, the APSC issued Order No. 1 related to COVID-19 and the provision of safe, adequate and reliable utility service at just and reasonable rates. Among other things, the APSC ordered the suspension of customer disconnects for non-payment during the pendency of the Arkansas Governor's emergency declaration or until the directive is rescinded by the APSC, neither of which have occurred yet, although the APSC has requested comments as to whether the moratorium should be lifted. The order encourages companies to provide reasonable payment arrangements once the suspension is lifted. The APSC also authorized utilities to establish regulatory assets to record costs resulting from the suspension of disconnections. These regulatory assets will be reviewed in future proceedings for reasonableness. The APSC ordered the General Staff of the APSC to consult with utilities to create a quarterly report to be used to report the costs incurred and saved that have been booked to the regulatory asset. OG&E is monitoring the regulatory activity regarding COVID-19 at the APSC and will consider the request for additional regulatory action by the APSC as needed. On May 1, 2020, OG&E filed a Request for Additional Actions and Tariff Deviation seeking relief from the Arkansas General Service Rules and OG&E's Terms and Conditions under the tariff, in order to allow for: more flexible deferred payment agreements for all customer classes, suspension of increased deposits due to non-payment and suspension of the removal of customers from certain billing and extended due date plans for late payments. In addition, OG&E requested that incremental expenses, such as additional personal protective equipment, increased sanitation efforts at facilities, implementing health-screening processes and securing temporary facilities for potential sequestration of critical operation personnel, be tracked in a regulatory asset. OG&E noted that all possible cost categories are not known currently and reserved the right to file subsequent requests as needed. On May 27, 2020, the APSC issued an order approving OG&E's request to deviate from the specified terms in the Arkansas General Service Rules and OG&E's Terms and Conditions to allow deferred payment arrangements to be offered to all customer classes and have more flexible payment arrangements. OG&E is authorized to record the expenses requested in its regulatory asset to defer and seek future recovery. The APSC found that because each utility has different cost recovery mechanisms and the magnitude of the utilities' expenses are unknown at this time, the APSC finds that it is premature to decide the exact recovery mechanism for any utility for COVID-19 related costs. Environmental Compliance Plan Rider In May 2019, OG&E filed an environmental compliance plan rider in Arkansas to recover its investment for the environmentally mandated costs associated with the Sooner Dry Scrubbers project and the conversion of Muskogee Units 4 and 5 to natural gas. The filing initiated an interim surcharge, subject to refund, that began with the first billing cycle of June 2019. OG&E had been reserving the amounts collected through the interim surcharge, pending APSC approval of OG&E's filing. A hearing on the merits was held in December 2019. Parties submitted additional briefs to the APSC in March 2020, which were requested due to certain intervenors questioning whether a company can utilize an environmental compliance plan rider while also being regulated under a formula rate plan. The APSC Staff concurred with OG&E that the rider may run concurrently with a formula rate plan, and the Arkansas Attorney General and other intervenors were in opposition. On July 31, 2020, OG&E's request to recover its investment for these environmentally mandated costs through the interim surcharge was not approved, as the APSC indicated OG&E could otherwise recover this investment, such as through the Formula Rate Plan Rider. As of September 30, 2020, OG&E has returned $5.3 million to customers that had been reserved for refund and has included those costs for recovery in its 2020 Formula Rate Plan filing. OCC Proceedings OCC Public Utility Division Motion Regarding COVID-19 On April 28, 2020, the Director of the Public Utility Division filed an application requesting an order from the OCC authorizing action in response to COVID-19. The application requested that the OCC authorize the State's utilities to record as a regulatory asset increased bad debt expenses, costs associated with expanded payment plans, waived fees and incremental expenses that are directly related to the suspension of or delay in disconnection of service beginning March 15, 2020, which coincides with the issuance of the Oklahoma Governor's emergency declaration. The application also requested that the OCC allow utilities to defer additional expenses associated with ensuring the continuity of utility service, such as additional personal protective equipment, increased sanitation efforts at facilities, implementing heath-screening processes and securing temporary facilities for potential sequestration of critical operation personnel. The application asked the OCC to consider in future proceedings whether each utility's request for recovery of these regulatory assets is reasonable and necessary and to consider issues such as the incremental bad debt experienced over normal periods, the appropriate period of recovery for any approved amount of regulatory asset, any amount of carrying costs and other related matters. On May 7, 2020, the OCC ordered that each utility is authorized to record as a regulatory asset any increased bad debt expense, cost associated with expanded payment plans, waived fees and incremental expenses that are directly related to the suspension of or delay in disconnection of service beginning March 15, 2020 until September 2020, unless otherwise ordered by the OCC. The OCC will consider in future proceedings whether each utility's request for recovery of these regulatory assets is reasonable and necessary. The OCC will also consider issues such as the incremental bad debt experienced over normal periods, appropriate period of recovery for any approved amount of regulatory assets, any amounts of carrying costs thereon and other related matters. The OCC also authorized utilities to defer expenses associated with ensuring continuity of service and protecting utility personnel, customers and the general public. Pending Regulatory Matters Various proceedings pending before state or federal regulatory agencies are described below. Unless stated otherwise, OG&E cannot predict when the regulatory agency will act or what action the regulatory agency will take. OG&E's financial results are dependent in part on timely and adequate decisions by the regulatory agencies that set OG&E's rates. FERC Proceedings Order for Sponsored Transmission Upgrades within SPP Under the SPP Open Access Transmission Tariff, costs of participant-funded, or "sponsored," transmission upgrades may be recovered from other SPP customers whose transmission service depends on capacity enabled by the upgrade. The SPP Open Access Transmission Tariff required the SPP to charge for these upgrades beginning in 2008, but the SPP had not been charging its customers for these upgrades due to information system limitations. However, the SPP had informed participants in the market that these charges would be forthcoming. In July 2016, the FERC granted the SPP's request to recover the charges not billed since 2008. The SPP subsequently billed OG&E for these charges and credited OG&E related to transmission upgrades that OG&E had sponsored, which resulted in OG&E being a net receiver of sponsored upgrade credits. The majority of these net credits were refunded to customers through OG&E's various rate riders that include SPP activity with the remaining amounts retained by OG&E. Several companies that were net payers of Z2 charges sought rehearing of the FERC's July 2016 order; however, in November 2017, the FERC denied the rehearing requests. In January 2018, one of the impacted companies appealed the FERC's decision to the U.S. Court of Appeals for the District of Columbia Circuit. In July 2018, that court granted a motion requested by the FERC that the case be remanded back to the FERC for further examination and proceedings. In February 2019, the FERC reversed its July 2016 order and November 2017 rehearing denial, ruled that the SPP violated its tariff to charge for the 2008 - 2015 period in 2016, held that the SPP tariff provision that prohibited those charges could not be waived and ordered the SPP to develop a plan to refund the payments but not to implement the refunds until further ordered to do so. In response, in April 2019, OG&E filed a request for rehearing with the FERC, and in May 2019, OG&E filed a FERC 206 complaint against the SPP, alleging that the SPP's forced unwinding of the revenue credit payments to OG&E would violate the provisions of the Sponsored Upgrade Agreement and of the applicable tariff. OG&E's filing requested that the FERC rule that the SPP is not entitled to seek refunds or in any other way seek to unwind the revenue credit payments it had paid to OG&E pursuant to the Sponsored Upgrade Agreement. The SPP's response to OG&E's filing agreed that OG&E should be entitled to keep its Z2 payments and argued that the SPP should not be held responsible for those payments if refunds are ordered. Further, the SPP has requested the FERC to negotiate a global settlement with all impacted parties, including other project sponsors who, like OG&E, have also filed complaints at FERC contending that the payments they have received cannot properly be unwound. On February 20, 2020, the FERC denied OG&E's request for rehearing of its February 2019 order, denying the waiver and ruling that the SPP must seek refunds from project sponsors for Z2 payments for the 2008 through 2015 period and pay them back to transmission owners. The FERC also denied the SPP's request for a stay and for institution of settlement procedures. The FERC stated it would not institute settlement procedures unless parties on both sides of the matter requested them. The FERC did not rule on OG&E's complaint or the complaints of other project sponsors, or consider the SPP's refund plan. The FERC thus has not set any date for payment of refunds. On March 2, 2020, OG&E petitioned the U.S. Court of Appeals for the District of Columbia Circuit for review of the FERC's order denying the waiver and requiring refunds. The appeal will likely be decided by the second quarter of 2021. OG&E cannot predict the outcome of this proceeding based on currently available information, and as of September 30, 2020 and at present time, OG&E has not reserved an amount for a potential refund. If the reversal of the July 2016 FERC order remains intact, OG&E estimates it would be required to refund $13.0 million, which is net of amounts paid to other utilities for upgrades and would be subject to interest at the FERC-approved rate. If refunds were required, recovery of these upgrade credits would shift to future periods. Of the $13.0 million, OG&E would be impacted by $5.0 million in expense that initially benefited OG&E in 2016, and OG&E customers would incur a net impact of $8.0 million in expense through rider mechanisms or the FERC formula rate. On January 31, 2020, the FERC acted on an SPP proposal to eliminate Attachment Z2 revenue crediting and replace it with a different rate mechanism that would provide project sponsors, such as OG&E, the same level of recovery, and rejected the proposal to the extent it would limit recovery to the amount of the upgrade sponsor's directly assigned upgrade costs with interest. The SPP resubmitted a proposal on April 29, 2020 without this limited recovery, and with the alternative rate mechanism, and the FERC approved it on June 30, 2020, effective July 1, 2020. No party sought rehearing of the order, and it is now final. This order would only prospectively impact OG&E and its recovery of any future upgrade costs that it may incur as a project sponsor. All of the existing projects that are eligible to receive revenue credits under Attachment Z2, which includes the $13.0 million at issue in OG&E's appeal as discussed above, will continue to do so. APSC Proceedings Arkansas 2020 Formula Rate Plan Filing On October 1, 2020, OG&E filed its third evaluation report under its Formula Rate Plan. If approved, new rates will be effective April 1, 2021. Net Metering Order On June 1, 2020, the APSC revised its net-metering rules. The revised rules retained 1:1 full credit for net excess generation of residential customers and commercial customers up to 1 MW without demand charges. For larger commercial customers, 1 MW to 20 MW, the APSC found that some cost shifting to non-net-metering customers may occur. While the rules retain 1:1 full credit for net excess generation, they allow for a grid charge. The grid charge is initially set at zero; however, a utility may request approval to revise the grid charge based on evidence that an unreasonable cost shift to non-net-metering customers is occurring. OG&E does not currently have a significant number of net-metering customers in Arkansas. OG&E is reviewing its existing net-metering tariffs considering the new rules and will request the APSC approve any changes that are believed to be necessary. Disconnection Procedures Related to COVID-19 On September 17, 2020, the APSC issued Order No. 9 inviting comments from all jurisdictional utilities and any other interested stakeholders on specific questions related to whether a moratorium on service terminations should be lifted and if so, how the resumption of disconnections should occur. The APSC also ordered utilities to submit a detailed "Transitional Plan" outlining how utilities propose to reinstate routine service disconnection activities and collection of past due amounts once the moratorium is lifted. OG&E submitted its proposed Transitional Plan on October 14, 2020. The APSC General Staff is directed to file reports addressing the adequacy of Investor Owned Utilities' Transitional Plans by November 5, 2020. Arkansas Solar On July 29, 2020, OG&E submitted its application for a Certificate of Public Convenience and Necessity to construct and operate a five megawatt solar generation facility near Branch, Arkansas. On September 30, 2020, the parties reached a unanimous settlement agreement relating to the filing. The terms of the settlement, which is subject to approval by the APSC, are as follows: (i) parties agree that OG&E has complied with Arkansas law and rules of practice and procedure and recommend granting a Certificate of Public Convenience and Necessity for the construction, ownership and operation of the project and associated tariffs; (ii) OG&E agrees that it would not seek cost recovery until its next general rate review or Formula Rate Plan filing; (iii) OG&E agrees to keep detailed records of final cost, for review at such time that cost recovery is sought, including all cost variance estimates, whereby a determination of prudency of cost may be made; and (iv) OG&E agrees to reserve 50 percent of the total expected energy produced for residential customers for the first 90 days of the program's initial subscription period. OG&E is awaiting a final order from the APSC, which is expected by the end of November 2020. OCC Proceedings Oklahoma Grid Enhancement Plan On February 24, 2020, OG&E filed an application with the OCC for approval of a mechanism that allows for interim recovery of the costs associated with its grid enhancement plan. The plan includes approximately $800.0 million of strategic, data-driven investments, over five years, covering grid resiliency, grid automation, communication systems and technology platforms and applications. On May 19, 2020, the OCC temporarily suspended the procedural schedule in light of various conditions related to the COVID-19 pandemic and the uncertainty surrounding the method and date in which the hearing on the merits may occur. On July 9, 2020, a prehearing conference was held before the Administrative Law Judge to establish a procedural schedule and lift the stay ordered on May 19, 2020. On July 23, 2020, the OCC issued an order approving the amended procedural schedule and thereby lifting the stay. On October 5, 2020, OG&E filed a Joint Stipulation and Settlement Agreement that included the following key terms: (i) cost recovery through a rider mechanism will be limited to projects placed in service in 2020 and 2021, capped at a revenue requirement of $7.0 million annually and only include communication, automation and technology systems projects; (ii) no operation and maintenance expense will be included in the rider mechanism; (iii) the rider mechanism will terminate by the issuance of a final order in OG&E's next general rate review or October 31, 2022, whichever occurs first; (iv) the rider mechanism rate of return will be capped at OG&E's current cost of capital; and (v) all cost recovery is subject to true-up and refund in OG&E's next general rate review. On October 8, 2020, a hearing on the agreement was held. The Administrative Law Judge recommended approval of the Joint Stipulation and Settlement Agreement and directed OG&E to prepare a draft order, on which the OCC is scheduled to deliberate on November 5, 2020. Any capital investment falling outside the criteria of the rider mechanism will be included in OG&E's next general rate review for recovery. 2019 Oklahoma Fuel Prudency On June 16, 2020, the Public Utility Division Staff filed their application initiating the review of the 2019 fuel adjustment clause and prudence review and on October 7, 2020, filed their recommendation for a finding of prudency for calendar year 2019. A hearing on the merits is scheduled for December 3, 2020. Oklahoma Retail Electric Supplier Certified Territory Act Causes Several rural electric cooperative electricity suppliers have filed complaints with the OCC alleging that OG&E has violated the Oklahoma Retail Electric Supplier Certified Territory Act. OG&E believes it is lawfully serving customers specifically exempted from this act and has presented evidence and testimony to the OCC supporting its position. There have been five complaint cases initiated at the OCC, and the OCC has issued decisions on each of them. The OCC ruled in favor of the electric cooperatives in three of those cases and ruled in favor of OG&E in two of those cases. All five of those cases have been appealed to the Oklahoma Supreme Court, where they have been made companion cases but will be individually briefed and have individual final decisions. If the Oklahoma Supreme Court ultimately were to find that some or all of the customers being served are not exempted from the Oklahoma Retail Electric Supplier Certified Territory Act, OG&E would have to evaluate the recoverability of some plant investments made to serve these customers. The total amount of OG&E's plant investments made to serve the customers in all five cases is approximately $28.0 million, of which $11.7 million applies to the three cases where the OCC ruled in favor of the electric cooperatives. In addition to the evaluation of the recoverability of the investments, OG&E may also be required to reimburse certified territory suppliers for an amount of lost revenue. The amount of such lost revenue would depend on how the OCC calculates the revenue requirement but could range from approximately $13.0 million to $20.0 million for all five cases, of which $1.1 million to $1.8 million would apply to the three cases where the OCC ruled in favor of the electric cooperatives. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies OG&E's significant accounting policies are detailed in "Note 1. Summary of Significant Accounting Policies" in OG&E's 2019 Form 10-K . Changes to OG&E's accounting policies as a result of adopting ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Information" are incorporated within "Allowance for Uncollectible Accounts Receivables" below and discussed in Note 2. |
Basis of Accounting [Text Block] | Basis of Presentation The Condensed Financial Statements included herein have been prepared by OG&E, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations; however, OG&E believes that the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments necessary to fairly present the financial position of OG&E at September 30, 2020 and December 31, 2019, the results of its operations for the three and nine months ended September 30, 2020 and 2019 and its cash flows for the nine months ended September 30, 2020 and 2019 have been included and are of a normal, recurring nature except as otherwise disclosed. Management also has evaluated the impact of events occurring after September 30, 2020 up to the date of issuance of these Condensed Financial Statements, and these statements contain all necessary adjustments and disclosures resulting from that evaluation. Due to seasonal fluctuations and other factors, OG&E's operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or for any future period. The Condensed Financial Statements and Notes thereto should be read in conjunction with the audited Financial Statements and Notes thereto included in OG&E's 2019 Form 10-K . |
Public Utilities, Policy [Policy Text Block] | Accounting Records The accounting records of OG&E are maintained in accordance with the Uniform System of Accounts prescribed by the FERC and adopted by the OCC and the APSC. Additionally, OG&E, as a regulated utility, is subject to accounting principles for certain types of rate-regulated activities, which provide that certain incurred costs that would otherwise be charged to expense can be deferred as regulatory assets, based on the expected recovery from customers in future rates. Likewise, certain actual or anticipated credits that would otherwise reduce expense can be deferred as regulatory liabilities, based on the expected flowback to customers in future rates. Management's expected recovery of deferred costs and flowback of deferred credits generally results from specific decisions by regulators granting such ratemaking treatment. OG&E records certain incurred costs and obligations as regulatory assets or liabilities if, based on regulatory orders or other available evidence, it is probable that the costs or obligations will be included in amounts allowable for recovery or refund in future rates. |
Related Party Transactions [Policy Text Block] | OGE Energy charges operating costs to OG&E based on several factors, and operating costs directly related to OG&E are assigned as such. Operating costs incurred for the benefit of OG&E are allocated either as overhead based primarily on labor costs or using the "Distrigas" method, which is a three-factor formula that uses an equal weighting of payroll, net operating revenues and gross property, plant and equipment. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Level 1 inputs are quoted prices in active markets for identical unrestricted assets or liabilities that are accessible at the measurement date. Level 2 inputs are inputs other than quoted prices in active markets included within Level 1 that are either directly or indirectly observable at the reporting date for the asset or liability for substantially the full term of the asset or liability. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3 inputs are prices or valuation techniques for the asset or liability that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Unobservable inputs reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). |
Income Tax, Policy [Policy Text Block] | OG&E is a member of an affiliated group that files consolidated income tax returns in the U.S. federal jurisdiction and various state jurisdictions.Income taxes are generally allocated to each company in the affiliated group based on its stand-alone taxable income or loss. Federal investment tax credits previously claimed on electric utility property have been deferred and will be amortized to income over the life of the related property. Additionally, OG&E earns federal tax credits associated with production from its wind facilities. Oklahoma production and investment state tax credits are also earned on investments in electric and solar generating facilities which further reduce OG&E's effective tax rate. |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts | Allowance for Uncollectible Accounts Receivable Customer balances are generally written off if not collected within six months after the final billing date. The allowance for uncollectible accounts receivable for OG&E is generally calculated by multiplying the last six months of electric revenue by the provision rate, which is based on a 12-month historical average of actual balances written off and is adjusted for current conditions and supportable forecasts as necessary. To the extent the historical collection rates, when incorporating forecasted conditions, are not representative of future collections, there could be an effect on the amount of uncollectible expense recognized, such as in response to COVID-19 impacts. Also, a portion of the uncollectible provision related to fuel within the Oklahoma jurisdiction is being recovered through the fuel adjustment clause. The allowance for uncollectible accounts receivable is a reduction to Accounts Receivable in the Condensed Balance Sheets and is included in the Other Operation and Maintenance in the Condensed Statements of Income. New business customers are required to provide a security deposit in the form of cash, bond or irrevocable letter of credit that is refunded when the account is closed. New residential customers whose outside credit scores indicate an elevated risk are required to provide a security deposit that may be refunded based on customer protection rules defined by the OCC and the APSC. The payment behavior of all existing customers is continuously monitored, and, if the payment behavior indicates sufficient risk within the meaning of the applicable utility regulation, customers will be required to provide a security deposit. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Regulatory Assets and Liabilities [Table Text Block] | The following table is a summary of OG&E's regulatory assets and liabilities. September 30, December 31, (In millions) 2020 2019 REGULATORY ASSETS Current: SPP cost tracker under recovery (A) $ 4.6 $ — Generation Capacity Replacement rider under recovery (A) 1.2 3.7 Fuel clause under recoveries — 39.5 Other (A) 9.7 5.5 Total current regulatory assets $ 15.5 $ 48.7 Non-current: Benefit obligations regulatory asset $ 150.2 $ 167.2 Deferred storm expenses 70.2 65.5 Sooner Dry Scrubbers 19.9 20.6 Smart Grid 13.1 18.4 Unamortized loss on reacquired debt 9.9 10.6 Arkansas deferred pension expenses 8.4 8.0 Pension tracker 8.1 2.3 COVID-19 deferred expenses 4.9 — Other 16.9 13.4 Total non-current regulatory assets $ 301.6 $ 306.0 REGULATORY LIABILITIES Current: Fuel clause over recoveries $ 39.6 $ 4.8 Oklahoma demand program rider over recovery (B) 5.8 2.0 Reserve for tax refund and interim surcharge (B) 1.3 12.7 SPP cost tracker over recovery (B) — 2.6 Other (B) 4.9 6.9 Total current regulatory liabilities $ 51.6 $ 29.0 Non-current: Income taxes refundable to customers, net $ 875.5 $ 899.2 Accrued removal obligations, net 318.9 318.5 Other 5.0 5.8 Total non-current regulatory liabilities $ 1,199.4 $ 1,223.5 (A) Included in Other Current Assets in the Condensed Balance Sheets. |
Accounting Pronouncements (Tabl
Accounting Pronouncements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Changes and Error Corrections [Abstract] | |
Accounting Standards Update and Change in Accounting Principle | The following table provides an overview of recently adopted accounting pronouncements and their impacts on OG&E. ASU Number and Name Description Date of Adoption Financial Statements and Disclosures Impact ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Information" This standard requires entities to measure all expected credit losses of financial assets held at a reporting date based on historical experience, current conditions and reasonable and supportable forecasts in order to record credit losses in a more timely manner. January 1, 2020 Utilizing a modified-retrospective approach, OG&E determined its only financial instrument requiring measurement under ASU 2016-13 is trade receivables. OG&E considers both future economic conditions and historical data to measure the reserve for trade receivables under this standard and determined no adjustments to its reserve were necessary upon adoption. ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)" The standard aligns requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. January 1, 2020 The new standard did not have a material effect on OG&E's financial statements upon adoption. Prospectively, OG&E records applicable capitalized implementation costs in Other Current Assets and related amortization expense in Other Operation and Maintenance. ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework" The standard removes, adds or modifies disclosure requirements that impact all levels of the fair value hierarchy, as well as investments measured using the net asset value practical expedient. January 1, 2020 OG&E applied the guidance on a retrospective or prospective basis, depending on the requirement, and did not experience a significant impact on its financial statement disclosures. ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)" The standard removes, adds or clarifies disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. January 1, 2020 OG&E applied the guidance on a retrospective basis and did not experience a significant impact on its financial statement disclosures. ASU 2020-04, "Reference Rate Reform (Topic 848)" This standard provides optional expedients and exceptions, if certain criteria are met, for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. January 1, 2020 The guidance did not have a material impact upon adoption, nor does OG&E expect a material impact in the future, on its financial statements. |
Revenues from Contracts with _2
Revenues from Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Revenues from Contracts with Customers [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following table disaggregates OG&E's revenues from contracts with customers by customer classification. OG&E's operating revenues disaggregated by customer classification can be found in "Results of Operations" within "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations." Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Residential $ 294.9 $ 318.9 $ 664.6 $ 692.4 Commercial 156.7 172.9 361.0 383.7 Industrial 59.3 66.8 145.5 172.0 Oilfield 50.6 58.6 127.2 156.9 Public authorities and street light 57.8 65.7 133.1 150.2 System sales revenues 619.3 682.9 1,431.4 1,555.2 Provision for rate refund 4.8 (2.3) 3.2 (2.9) Integrated market 18.0 12.8 33.7 29.8 Transmission 35.0 36.7 109.0 112.6 Other 10.7 9.1 22.9 23.0 Revenues from contracts with customers $ 687.8 $ 739.2 $ 1,600.2 $ 1,717.7 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Related Party Transaction [Line Items] | |
Schedule of Related Party Transactions [Table Text Block] | The following table summarizes related party transactions between OG&E and Enable during the three and nine months ended September 30, 2020 and 2019. Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Operating revenues: Electricity to power electric compression assets $ 4.5 $ 4.5 $ 11.7 $ 12.1 Cost of sales: Natural gas transportation services $ 9.3 $ 9.4 $ 23.4 $ 33.5 Natural gas purchases (sales) $ 3.2 $ (1.1) $ 2.2 $ (5.4) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table summarizes the carrying amount and fair value of OG&E's financial instruments at September 30, 2020 and December 31, 2019. September 30, December 31, 2020 2019 (In millions) Carrying Amount Fair Carrying Amount Fair Classification Long-term Debt (including Long-term Debt due within one year): Senior Notes $ 3,349.0 $ 4,116.5 $ 3,050.3 $ 3,500.4 Level 2 Industrial Authority Bonds $ 135.4 $ 135.4 $ 135.4 $ 135.4 Level 2 Tinker Debt $ 9.5 $ 10.6 $ 9.5 $ 10.0 Level 3 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | The following table summarizes OG&E's pre-tax compensation expense and related income tax benefit during the three and nine months ended September 30, 2020 and 2019 related to OGE Energy's performance units and restricted stock units for OG&E employees. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2020 2019 2020 2019 Performance units: Total shareholder return $ 0.5 $ 0.8 $ 1.8 $ 2.3 Earnings per share — 0.8 0.1 1.1 Total performance units 0.5 1.6 1.9 3.4 Restricted stock units 0.1 0.1 0.3 0.3 Total compensation expense $ 0.6 $ 1.7 $ 2.2 $ 3.7 Income tax benefit $ 0.2 $ 0.4 $ 0.6 $ 0.9 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Long-term Debt, Unclassified [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | OG&E has tax-exempt pollution control bonds with optional redemption provisions that allow the holders to request repayment of the bonds on any business day. The bonds, which can be tendered at the option of the holder during the next 12 months, are included in the following table. Series Date Due Amount (In millions) 0.30% - 5.35% Garfield Industrial Authority, January 1, 2025 $ 47.0 0.33% - 4.31% Muskogee Industrial Authority, January 1, 2025 32.4 0.30% - 5.35% Muskogee Industrial Authority, June 1, 2027 56.0 Total (redeemable during next 12 months) $ 135.4 |
Retirement Plans and Postreti_2
Retirement Plans and Postretirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The following table presents the net periodic benefit cost components, before consideration of capitalized amounts, of OG&E's portion of OGE Energy's Pension Plan, Restoration of Retirement Income Plan and postretirement benefit plans that are included in the Condensed Financial Statements. Service cost is presented within Other Operation and Maintenance, and the remaining net periodic benefit cost components as listed in the table below are presented within Other Net Periodic Benefit Expense in OG&E's Condensed Statements of Income. OG&E recovers specific amounts of pension and postretirement medical costs in rates approved in its Oklahoma rate reviews. In accordance with approved orders, OG&E defers the difference between actual pension and postretirement medical expenses and the amount approved in its last Oklahoma rate review as a regulatory asset or regulatory liability. These amounts have been recorded in the Pension tracker in the regulatory assets and liabilities table in Note 1 and within Other Net Periodic Benefit Expense in OG&E's Condensed Statements of Income. Pension Plan Restoration of Retirement Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (In millions) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost $ 2.3 $ 2.3 $ 6.8 $ 6.7 $ — $ — $ 0.1 $ 0.1 Interest cost 3.2 3.5 10.0 11.7 — — 0.1 0.1 Expected return on plan assets (7.0) (7.2) (20.9) (20.7) — — — — Amortization of net loss 3.0 3.3 9.0 9.7 0.1 0.1 0.3 0.3 Settlement cost 10.3 1.7 10.3 12.9 0.5 0.3 0.5 0.3 Total net periodic benefit cost 11.8 3.6 15.2 20.3 0.6 0.4 1.0 0.8 Plus: Amount allocated from OGE Energy 1.5 0.9 2.5 3.5 0.2 0.2 0.8 0.4 Net periodic benefit cost $ 13.3 $ 4.5 $ 17.7 $ 23.8 $ 0.8 $ 0.6 $ 1.8 $ 1.2 In addition to the net periodic benefit cost amounts recognized, as presented in the table above, for the Pension and Restoration of Retirement Income Plans for the three and nine months ended September 30, 2020 and 2019, OG&E recognized the following: Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Increase (decrease) of pension expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A)(B) $ 2.4 $ 1.5 $ 5.7 $ (0.2) Deferral of pension expense related to pension settlement charges: Oklahoma jurisdiction (A)(B) $ 10.8 $ 2.3 $ 11.1 $ 14.0 Arkansas jurisdiction (A)(B) $ 1.0 $ 0.2 $ 1.0 $ 1.3 (A) Included in the pension regulatory asset or liability in each jurisdiction, as indicated in the regulatory assets and liabilities table in Note 1. (B) Includes a portion of OGE Energy's pension expense. Postretirement Benefit Plans Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Service cost $ — $ — $ 0.1 $ 0.1 Interest cost 0.8 1.1 2.4 3.2 Expected return on plan assets (0.4) (0.4) (1.2) (1.3) Amortization of net loss 0.5 0.6 1.6 1.7 Amortization of unrecognized prior service cost (A) (1.5) (1.6) (4.6) (4.6) Total net periodic benefit cost (0.6) (0.3) (1.7) (0.9) Plus: Amount allocated from OGE Energy (0.2) (0.2) (0.6) (0.5) Net periodic benefit cost $ (0.8) $ (0.5) $ (2.3) $ (1.4) (A) Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment. In addition to the net periodic benefit income amounts recognized, as presented in the table above, for the postretirement benefit plans for the three and nine months ended September 30, 2020 and 2019, OG&E recognized the following: Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Increase of postretirement expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A)(B) $ 0.4 $ 0.1 $ 1.2 $ 0.9 (A) Included in the Pension tracker, as presented in the regulatory assets and liabilities table in Note 1. |
Schedule of Capitalized Pension and Postretirement Cost [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2020 2019 2020 2019 Capitalized portion of net periodic pension benefit cost $ 0.8 $ 0.7 $ 2.3 $ 2.2 Capitalized portion of net periodic postretirement benefit cost $ — $ — $ 0.1 $ 0.1 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies, Regulated Operations (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 | |
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Fuel clause under recoveries | $ 0 | $ 39.5 | |
Current Regulatory Assets | 15.5 | 48.7 | |
Non-Current Regulatory Assets | 301.6 | 306 | |
Current Regulatory Liabilities | 51.6 | 29 | |
Fuel clause over recoveries | 39.6 | 4.8 | |
Non-Current Regulatory Liabilities | 1,199.4 | 1,223.5 | |
Reserve for Tax Refund [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Current Regulatory Liabilities | [1] | 1.3 | 12.7 |
SPP Cost Tracker Rider Over Recovery [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Current Regulatory Liabilities | [1] | 0 | 2.6 |
Oklahoma Demand Program Over Recovery [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Current Regulatory Liabilities | [1] | 5.8 | 2 |
Other Regulatory Liability[Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Current Regulatory Liabilities | [1] | 4.9 | 6.9 |
Non-Current Regulatory Liabilities | 5 | 5.8 | |
Income taxes refundable to customers, net | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Liabilities | 875.5 | 899.2 | |
Accrued removal obligations, net | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Liabilities | 318.9 | 318.5 | |
SPP cost tracker under recovery (A) | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Current Regulatory Assets | [2] | 4.6 | 0 |
Benefit obligations regulatory asset | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 150.2 | 167.2 | |
Deferred storm expenses | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 70.2 | 65.5 | |
Dry Scrubber Regulatory Asset [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 19.9 | 20.6 | |
Unamortized loss on reacquired debt | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 9.9 | 10.6 | |
Deferred Pension Expenses [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 8.4 | 8 | |
Other Regulatory Asset [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Current Regulatory Assets | [2] | 9.7 | 5.5 |
Non-Current Regulatory Assets | 16.9 | 13.4 | |
Pension tracker | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 8.1 | 2.3 | |
Smart Grid [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 13.1 | 18.4 | |
COVID-19 Deferred Expenses [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Non-Current Regulatory Assets | 4.9 | 0 | |
Generation Capacity Replacement Rider [Member] | |||
Schedule of Regulatory Assets and Liabilities [Line Items] | |||
Current Regulatory Assets | [2] | $ 1.2 | $ 3.7 |
[1] | Included in Other Current Liabilities in the Condensed Balance Sheets. | ||
[2] | Included in Other Current Assets in the Condensed Balance Sheets. |
Revenues from Contracts with _3
Revenues from Contracts with Customers (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 687.8 | $ 739.2 | $ 1,600.2 | $ 1,717.7 |
Residential [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 294.9 | 318.9 | 664.6 | 692.4 |
Commercial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 156.7 | 172.9 | 361 | 383.7 |
Industrial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 59.3 | 66.8 | 145.5 | 172 |
Oilfield [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 50.6 | 58.6 | 127.2 | 156.9 |
Public Authority [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 57.8 | 65.7 | 133.1 | 150.2 |
System sales revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 619.3 | 682.9 | 1,431.4 | 1,555.2 |
Provision for Rate Refund [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4.8 | (2.3) | 3.2 | (2.9) |
Integrated Market [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 18 | 12.8 | 33.7 | 29.8 |
Transmission [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 35 | 36.7 | 109 | 112.6 |
Other Contracts with Customers [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 10.7 | $ 9.1 | $ 22.9 | $ 23 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Operating Costs Charged [Member] | OG&E [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | $ 32.7 | $ 37 | $ 107.5 | $ 109.9 |
OG&E [Member] | Enable Midstream Partners [Member] | ||||
Related Party Transaction [Line Items] | ||||
Electricity to power electric compression assets | 4.5 | 4.5 | 11.7 | 12.1 |
OG&E [Member] | Natural Gas Transportation [Member] | Enable Midstream Partners [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Purchases from related party | 9.3 | 9.4 | 23.4 | 33.5 |
OG&E [Member] | Natural Gas Purchases [Member] | Enable Midstream Partners [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Purchases from related party | $ 3.2 | $ (1.1) | $ 2.2 | $ (5.4) |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
OG&E Senior Notes [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt | $ 3,349 | $ 3,050.3 |
Long-term Debt, Fair Value | 4,116.5 | 3,500.4 |
OG&E Industrial Authority Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt | 135.4 | 135.4 |
Long-term Debt, Fair Value | 135.4 | 135.4 |
OG&E Tinker Debt [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt | 9.5 | 9.5 |
Long-term Debt, Fair Value | 10.6 | 10 |
Fair Value, Recurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | $ 0 | $ 0 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 89,225 | ||||
Income tax benefit | $ 0.2 | $ 0.4 | $ 0.6 | $ 0.9 | |
Treasury Stock, Shares, Acquired | 150,000 | 405,000 | |||
Treasury Stock Acquired, Average Cost Per Share | $ 33.14 | $ 38.04 | |||
Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Compensation expense | $ 0.5 | 1.6 | $ 1.9 | 3.4 | |
Share-based Payment Arrangement [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Compensation expense | 0.6 | 1.7 | 2.2 | 3.7 | |
Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Compensation expense | 0.1 | 0.1 | 0.3 | 0.3 | |
Total Shareholder Return [Member] | Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Compensation expense | 0.5 | 0.8 | 1.8 | 2.3 | |
Performance Units Related to Earnings Per Share [Member] | Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Compensation expense | $ 0 | $ 0.8 | $ 0.1 | $ 1.1 |
Long-Term Debt (Details)
Long-Term Debt (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 3.25% |
Debt Instrument, Maturity Date | Apr. 1, 2030 |
Percent of Principal Amount Subject to Optional Tender | 100.00% |
Debt Instrument, Face Amount | $ 300 |
Garfield Industrial Authority Bond [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Maturity Date | Jan. 1, 2025 |
Muskogee Industrial Authority Bond Due 2025 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Maturity Date | Jan. 1, 2025 |
Muskogee Industrial Authority Bond Due 2027 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Maturity Date | Jun. 1, 2027 |
Redeemable during the next 12 months [Member] | |
Debt Instrument [Line Items] | |
Total (redeemable during next 12 months) | $ 135.4 |
OG&E [Member] | Redeemable during the next 12 months [Member] | Garfield Industrial Authority Bond [Member] | |
Debt Instrument [Line Items] | |
Long-term debt, gross | 47 |
OG&E [Member] | Redeemable during the next 12 months [Member] | Muskogee Industrial Authority Bond Due 2025 [Member] | |
Debt Instrument [Line Items] | |
Long-term debt, gross | 32.4 |
OG&E [Member] | Redeemable during the next 12 months [Member] | Muskogee Industrial Authority Bond Due 2027 [Member] | |
Debt Instrument [Line Items] | |
Long-term debt, gross | $ 56 |
Minimum [Member] | Redeemable during the next 12 months [Member] | Garfield Industrial Authority Bond [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 0.30% |
Minimum [Member] | Redeemable during the next 12 months [Member] | Muskogee Industrial Authority Bond Due 2025 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 0.33% |
Minimum [Member] | Redeemable during the next 12 months [Member] | Muskogee Industrial Authority Bond Due 2027 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 0.30% |
Maximum [Member] | Redeemable during the next 12 months [Member] | Garfield Industrial Authority Bond [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 5.35% |
Maximum [Member] | Redeemable during the next 12 months [Member] | Muskogee Industrial Authority Bond Due 2025 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 4.31% |
Maximum [Member] | Redeemable during the next 12 months [Member] | Muskogee Industrial Authority Bond Due 2027 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 5.35% |
Short-Term Debt and Credit Fa_2
Short-Term Debt and Credit Facilities (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Short-term Debt [Line Items] | ||
Advances to parent | $ 293.9 | $ 304.8 |
Letters of Credit Outstanding | $ 0.3 | |
Weighted Average Interest Rate | 1.15% | |
OG&E [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Current Borrowing Capacity | $ 450 | |
Intercomany Borrowings, Maximum Borrowing Capacity | 350 | |
Outstanding Intercompany Borrowings | 0 | |
Commercial Paper | 0 | |
Short Term Borrowing Capacity That Has Regulatory Approval | $ 800 | |
Period For Which Regulatory Approval Has Been Given to Acquire Short Term Debt | 2 years |
Retirement Plans and Postreti_3
Retirement Plans and Postretirement Benefit Plans (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Other Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Service cost | $ 0 | $ 0 | $ 0.1 | $ 0.1 | |
Interest cost | 0 | 0 | 0.1 | 0.1 | |
Expected return on plan assets | 0 | 0 | 0 | 0 | |
Amortization of net loss | 0.1 | 0.1 | 0.3 | 0.3 | |
Settlement cost | 0.5 | 0.3 | 0.5 | 0.3 | |
Net periodic benefit cost | 0.6 | 0.4 | 1 | 0.8 | |
Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Service cost | 2.3 | 2.3 | 6.8 | 6.7 | |
Interest cost | 3.2 | 3.5 | 10 | 11.7 | |
Expected return on plan assets | (7) | (7.2) | (20.9) | (20.7) | |
Amortization of net loss | 3 | 3.3 | 9 | 9.7 | |
Settlement cost | 10.3 | 1.7 | 10.3 | 12.9 | |
Net periodic benefit cost | 11.8 | 3.6 | 15.2 | 20.3 | |
Capitalized Portion of Net Periodic Benefit Cost | 0.8 | 0.7 | 2.3 | 2.2 | |
Other Postretirement Benefits Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Service cost | 0 | 0 | 0.1 | 0.1 | |
Interest cost | 0.8 | 1.1 | 2.4 | 3.2 | |
Expected return on plan assets | (0.4) | (0.4) | (1.2) | (1.3) | |
Amortization of net loss | 0.5 | 0.6 | 1.6 | 1.7 | |
Amortization of unrecognized prior service cost | [1] | (1.5) | (1.6) | (4.6) | (4.6) |
Capitalized Portion of Net Periodic Benefit Cost | 0 | 0 | 0.1 | 0.1 | |
Postretirement Benefit Costs | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Net periodic benefit cost | (0.6) | (0.3) | (1.7) | (0.9) | |
OKLAHOMA | Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Settlement cost | [2],[3] | 10.8 | 2.3 | 11.1 | 14 |
Additional Pension Expense to Meet State Requirements | [2],[3] | 2.4 | 1.5 | 5.7 | (0.2) |
OKLAHOMA | Other Postretirement Benefits Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Additional Pension Expense to Meet State Requirements | [4],[5] | 0.4 | 0.1 | 1.2 | 0.9 |
ARKANSAS | Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Settlement cost | [2],[3] | 1 | 0.2 | 1 | 1.3 |
OGE Energy [Member] | Other Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Amount Attributable to Unconsolidated Affiliates | 0.2 | 0.2 | 0.8 | 0.4 | |
OGE Energy [Member] | Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Amount Attributable to Unconsolidated Affiliates | 1.5 | 0.9 | 2.5 | 3.5 | |
OGE Energy [Member] | Postretirement Benefit Costs | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Net periodic benefit cost | (0.2) | (0.2) | (0.6) | (0.5) | |
Og and E [Member] | Other Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Net periodic benefit cost | 0.8 | 0.6 | 1.8 | 1.2 | |
Og and E [Member] | Pension Plan [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Net periodic benefit cost | 13.3 | 4.5 | 17.7 | 23.8 | |
Og and E [Member] | Postretirement Benefit Costs | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||||
Net periodic benefit cost | $ (0.8) | $ (0.5) | $ (2.3) | $ (1.4) | |
[1] | Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment. | ||||
[2] | Included in the pension regulatory asset or liability in each jurisdiction, as indicated in the regulatory assets and liabilities table in Note 1. | ||||
[3] | Includes a portion of OGE Energy's pension expense. | ||||
[4] | Included in the Pension tracker, as presented in the regulatory assets and liabilities table in Note 1. | ||||
[5] | Includes a portion of OGE Energy's pension expense. |
Rate Matters and Regulation (De
Rate Matters and Regulation (Details) | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Estimated Refund to SPP | $ 13,000,000 |
Public Utilities, Requested Rate Increase (Decrease), Amount | 5,200,000 |
Investment in Grid Enhancement | 800,000,000 |
Arkansas Environmental Refund | 5,300,000 |
Plant Investments for Customers | 28,000,000 |
Minimum [Member] | |
Revenue Requirement from OCC | 13,000,000 |
Maximum [Member] | |
Revenue Requirement from OCC | 20,000,000 |
OCC Favor to Coop Ruling [Member] | |
Plant Investments for Customers | 11,700,000 |
OCC Favor to Coop Ruling [Member] | Minimum [Member] | |
Revenue Requirement from OCC | 1,100,000 |
OCC Favor to Coop Ruling [Member] | Maximum [Member] | |
Revenue Requirement from OCC | 1,800,000 |
Impact to Company [Member] | |
Estimated Refund to SPP | 5,000,000 |
Customer Impact [Member] | |
Estimated Refund to SPP | $ 8,000,000 |