What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to announce that ONEOK's subsidiary, Oklahoma Natural Gas Company, has applied for an increase in its base utility rates with the Oklahoma Corporation Commission.

How much is the proposed rate increase and when was the last one?

Oklahoma Natural Gas Company is seeking a $66.08 million increase in base rates. The last base rate adjustment for this division was in July 2005.

Will customers see the full $66.08 million increase on their bills immediately?

No, the effective increase to customers may be less. The company plans to move certain expenses that are currently itemized on customer bills into the base rates, which would reduce the net requested increase to $37.6 million. The OCC will ultimately decide on the approved rate changes.

What is the timeline for a decision on the rate increase application?

Under Oklahoma law, the Oklahoma Corporation Commission has 180 days from the filing date to consider and make a decision on the proposed rate changes.

OKE 8-K SEC Disclosure — Jun 30, 2009

Summary

ONEOK Inc. (OKE) announced via an 8-K filing on June 30, 2009, that its subsidiary, Oklahoma Natural Gas Company, has filed an application with the Oklahoma Corporation Commission (OCC) to increase its base rates. The proposed increase amounts to $66.08 million, marking the first base rate adjustment request since July 2005. This filing is significant as it directly impacts the revenue generation potential of a key operating segment.

Key Highlights

1Oklahoma Natural Gas Company is seeking a $66.08 million increase in base rates from the Oklahoma Corporation Commission.
2The last base rate adjustment for this division occurred in July 2005.
3The requested rate increase is subject to a 180-day review period by the Oklahoma Corporation Commission.
4A portion of the requested increase, estimated at $28.48 million ($66.08 million - $37.6 million), will be achieved by moving certain expenses currently billed separately into base rates.
5The net requested increase, after accounting for the reclassification of expenses, is $37.6 million.
6The filing includes a news release dated June 26, 2009, as an exhibit.

ONEOK INC /NEW/ 8-K Report, Corporate Update (Jun 30, 2009)

Summary

Key Highlights

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