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In just two weeks of February 2021, Oklahoma’s largest public utilities incurred some $2.8 billion in fuel and purchased power costs (compared to $1.3 billion for all of 2020). Then lawmakers and two Oklahoma Corporation Commissioners allowed those utilities to tack on another $2+ billion of financing (aka “securitization”) expenses by issuing pricey ratepayer-backed bonds with terms as long as 28 years.
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