8-KOther EventsExhibits & Filings

ONEOK INC /NEW/ 8-K Report, Corporate Update (Oct 4, 2005)

Filed October 4, 2005For Securities:OKE

Summary

ONEOK Inc. announced on October 4, 2005, that its Oklahoma Natural Gas Company division received a final order from the Oklahoma Corporation Commission regarding its application for a rate increase. The Commission unanimously approved an annual rate increase of $57.5 million. This approval is slightly less than the $99.4 million initially requested by Oklahoma Natural Gas in January 2005. However, the approved amount is very close to the $58 million recommendation made by the administrative law judge in July. Importantly, the company stated that this order will have no substantial impact on customer bills, suggesting that the approved increase is either fully reflected in currently implemented rates or offset by other factors.

Key Highlights

  • 1Oklahoma Corporation Commission issued a final order on Oklahoma Natural Gas Company's rate increase application.
  • 2An annual rate increase of $57.5 million was unanimously approved.
  • 3The approved increase is lower than the $99.4 million initially requested.
  • 4The approved amount is in line with the administrative law judge's recommendation of approximately $58 million.
  • 5Oklahoma Natural Gas had already implemented interim rates in July 2005, based on the administrative law judge's recommendation.
  • 6The company indicated that the final order will have no substantial impact on customer bills.

Frequently Asked Questions

The Oklahoma Corporation Commission issued a final order approving an annual rate increase of $57.5 million for Oklahoma Natural Gas Company.

The company initially requested an annual rate increase of $99.4 million. The approved $57.5 million is less than the initial request but closely aligns with the administrative law judge's recommendation.

ONEOK stated that this order will have no substantial impact on customers' bills, indicating that the approved increase is likely already factored into current rates or offset by other cost adjustments.

Oklahoma Natural Gas Company implemented new rates on July 28, 2005, based on the administrative law judge's recommendation while awaiting the final order.