Okla. Stat. tit. 17, § 17-253

A. No proposed monthly fuel adjustment, purchased power

adjustment or purchased gas adjustment shall become effective until

after the Corporation Commission has had an opportunity to determine

that the adjustment is calculated in accordance with the terms and

conditions of the applicable fuel adjustment clause.

Oklahoma Statutes - Title 17. Corporation Commission Page 187

B. The Commission shall promulgate rules requiring each company

as a necessary part of the monthly filing with the Commission and

condition to consideration of any adjustment application to submit

the following information:

1. A statement by each company subject to a fuel adjustment

clause of the items and costs making up the average cost of fuel per

million BTU and associated costs in dollars and cents or fraction

thereof;

2. A summary of its fuel and gas purchase invoices and its

computations of the proposed monthly fuel adjustment or purchased

gas adjustment charges;

3. A summary of inventory records of fuel and gas going into

and taken out of stockpile or storage;

4. A report containing the average unit price, the change in

the average unit price, the volume purchased and a brief explanation

of such unit cost increase; and

5. Any other records deemed necessary by the Commission

including, but not limited to, the heat rate efficiency and delivery

efficiency for affected electric public utilities and the actual

capacity factor for each generating facility utilized to produce

electric power.

The records and computations filed shall be open to public

inspection at the office of the Commission.

C. The Commission shall have five (5) business days after the

records and computations prescribed in subsection B of this section

have been filed to determine the necessity of an administrative

proceeding thereon. If the Commission does not determine that a

hearing is required, the proposed adjustment charge shall become

effective as filed. In the event the Commission decides to hold a

hearing on the information filed, it shall notify the public utility

within such five-day period, set the matter for a public hearing to

commence within thirty (30) business days thereafter, and give

notice thereof at least three (3) days prior to the commencement of

such hearing by publication in a newspaper of general circulation in

the area served by such company. The issue to be determined at such

hearing shall be either or both of the following determinations:

1. Whether charges or credits made under the fuel adjustment

clauses are based upon the actual prices paid for fuel, purchased

gas or purchased power and are properly computed in accordance with

the applicable adjustment clause; or

2. Whether the fuel adjustment clauses should be discontinued,

amended or suspended. In the event that the Commission determines

that it is necessary to set any proposed adjustment charge for

hearing, the proposed charge shall nevertheless become effective at

the option of the utility following the expiration of the five-day

period after its records and computations have been filed, pending

the Commission's finding with respect to such charges. However, in

Oklahoma Statutes - Title 17. Corporation Commission Page 188

the discretion of the Commission, the effectiveness of the proposed

charge may be conditioned upon the filing by the utility with the

Commission of an assurance satisfactory to the Commission, which may

include a bond with surety, of the utility's ability and willingness

to refund to its customers any such amounts as the utility may

collect from them in excess of the charge approved by the Commission

in its finding. If the Commission has not approved, in whole or in

part, or denied the proposed charge within a seven-day period

subsequent to the commencement of such hearing, the Commission shall

promptly submit a written explanation of the Commission's failure to
refund to its customers any such amounts as the utility may

collect from them in excess of the charge approved by the Commission

in its finding. If the Commission has not approved, in whole or in

part, or denied the proposed charge within a seven-day period

subsequent to the commencement of such hearing, the Commission shall

promptly submit a written explanation of the Commission's failure to

do so to the President Pro Tempore of the Senate, the Speaker of the

House of Representatives and the office of the Governor.