As OG&E Announces Naming Rights To Fairgrounds Arena, Residents Worry About Increased Rate Hikes
Although it is unclear how much OG&E paid for naming rights, residents say they are worried about an increase in their electric bill payments. Residents are concerned about increased electric bill payments due to the announcement of the naming rights to the new arena at the Oklahoma City Fairgrounds, the OG&E Coliseum, as it is unclear how much of the money was spent on naming rights. This comes as OG&Es is asking for state approval of a 13% increase in monthly rates, roughly $19 a month for the average residential customer. Oklahoma Corporation Commissioner Kim David assured that the large donation will not impact ratepayers. The naming rights for the Coliseum will last for 10 years.
Published : 4 weeks ago by Griffin Media in
Although it is unclear how much OG&E paid for naming rights, residents say they are worried about an increase in their electric bill payments.
After the name of the new arena at the Oklahoma City Fairgrounds was revealed to be the OG&E Coliseum, residents are asking the company where the money for a donation came from.
Although it is unclear how much OG&E paid for naming rights, the announcement comes as the utility company is asking the state to increase rates.
The common question from News 9 viewers: where does the money come from?
Oklahoma Corporation Commissioner Kim David said the large donation also caught her attention, but has confidence in that it won't impact resident's bills.
“I am concerned that as OG&E is asking the Corporation Commission to approve a rate increase... OG&E's parent company's foundation is making a large charitable donation for naming rights to the new Oklahoma City fairgrounds arena," David said. "I want to assure all OG&E customers that this charitable donation cannot, and will not, be passed on to ratepayers."
In January, David said OG&E defended their request for a more than 330-million dollar hike, which would be a 13% increase in monthly rates for customers, roughly $19 a month for the average residential customer.
OG&E said they need the money for investments in transmission, distribution and grid enhancement.
Oklahoma City has refused to release other naming agreements, citing confidentiality agreements, but the naming rights for the OG&E Coliseum will last for 10 years.