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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: July 8, 1999
Commission file number 1-1097
OKLAHOMA GAS AND ELECTRIC COMPANY
(Exact name of registrant as specified in its charter)
Oklahoma 73-0382390
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
321 North Harvey
P. O. Box 321
Oklahoma City, Oklahoma 73101-0321
(Address of principal executive offices)
(Zip Code)
405-553-3000
(Registrant's telephone number, including area code)
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Item 5. Other Events
OKLAHOMA GAS & ELECTRIC COMPANY FILES GENERATION EFFICIENCY PERFORMANCE
RIDER (GEP RIDER)
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Oklahoma Gas & Electric Company (OG&E), through its parent company, OGE
Energy Corp., announced, June 29, 1999, that it filed an updated GEP Rider with
the Oklahoma Corporation Commission ("OCC"). The GEP Rider is designed so that
when OG&E's average annual cost of fuel per kwh is less than 96.261 percent of
the average non-nuclear fuel cost per kwh of certain other investor-owned
utilities in the region, OG&E is allowed to collect, through the GEP Rider,
one-third of the amount by which OG&E's average annual cost of fuel comes in
below 96.261 percent of the average of the other specified utilities. If OG&E's
fuel cost exceeds 103.739 percent of the stated average, OG&E will not be
allowed to recover one-third of the fuel costs above that average from Oklahoma
customers. The fuel cost information used to calculate the GEP Rider is based on
fuel cost data submitted by each of the utilities in their Form No. 1 Annual
Report filed with the Federal Energy Regulatory Commission. The GEP Rider is
revised effective July 1 of each year to reflect any changes in the relative
annual cost of fuel reported for the preceding calendar year. Although revenue
associated with the new GEP Rider is expected to decrease by approximately $10
million (or approximately $0.15 per share) from 1998, the new GEP Rider is
estimated to positively impact revenue by $20 million or approximately $0.30 per
share in 1999.
Some of the matters discussed in this Form 8-K may contain forward-looking
statements of OG&E that are subject to certain risks, uncertainties, and
assumptions. Actual results may vary materially. Factors that could cause actual
results to differ materially include, but are not limited to: general economic
conditions, including their impact on capital expenditures; business conditions
in the energy industry; competitive factors; unusual weather; regulatory
decisions and other risk factors listed in OG&E's Form 10-K for the year ended
December 31, 1998 and other factors described from time to time in OG&E's
reports to the Securities and Exchange Commission.
Item 7. (c) Exhibits
EXHIBIT NUMBER DESCRIPTION
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99.01 OGE Energy's press release dated June 29, 1999
announcing Oklahoma Gas & Electric Company files
Generation Efficiency Performance Rider with the
Oklahoma Corporation Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
OKLAHOMA GAS & ELECTRIC COMPANY
(Registrant)
By /s/ Donald R. Rowlett
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Donald R. Rowlett
Controller Corporate Accounting
(On behalf of the registrant and in his capacity
as Controller Corporate Accounting)
July 8, 1999
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EXHIBIT INDEX
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EXHIBIT INDEX DESCRIPTION
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99.01 OGE ENERGY CORP.'S OKLAHOMA GAS & ELECTRIC COMPANY FILES
GENERATION EFFICIENCY PERFORMANCE RIDER (GER)
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EXHIBIT 99.01
OGE ENERGY CORP.'S OKLAHOMA GAS & ELECTRIC COMPANY FILES GENERATION EFFICIENCY
PERFORMANCE RIDER (GER)
Oklahoma Gas & Electric Company, a wholly owned subsidiary of OGE Energy Corp.
(NYSE: OGE), today filed the Generation Efficiency Performance Rider (GER) with
the Oklahoma Corporation Commission. The rider, which allows OG&E to retain a
part of the fuel savings it achieves through efficiencies, will take effect July
1. Based on normalized sales, the GER is expected to decrease by approximately
$10 million from 1998.
Highlights:
o Revenue associated with the GER decreased from approximately $30 million
in 1998 to approximately $20 million in 1999.
o OG&E's fuel cost relative to the Southwest Power Pool increased from 73
percent of average to 85 percent of average.
o The GER reduction should result in an 8 cent decrease in earnings per share
for 1999.
