SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 22, 1994
(Date of report)
ONEOK Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-2572 73-0383100
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
100 West Fifth Street Tulsa, OK 74103
(Address of principal executive offices)
(918) 588-7000
(Registrant's telephone number, including area code)
Page 1 of 3
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Item 5. Other Information.
On November 22, 1994, the Oklahoma Corporation Commission issued a rate order
granting the Company a rate increase of $23.7 million. This is an increase of
$5.5 million over the $18.2 million emergency rate increase that went into
effect in March 1992. The Company had requested an annual increase of $50.5
million, excluding recovery of the remaining balance of its take-or-pay and
other settlement costs.
The OCC authorized an annual recovery of $6.7 million for take-or-pay and
other settlement costs by a combination of a surcharge from customers and
revenue from transportation under Section 311 (a) of the Natural Gas Policy
Act of 1978 (NGPA) and other intrastate transportation revenues.
The OCC combined with the rate case another proceeding relating to the
acquisition of the Oklahoma properties of Lone Star Gas Company in which the
Company asked that the full purchase price be included in rate base. The OCC
allowed the Company to recover and amortize the acquisition premium over a
5-year period but earn no return on the outstanding balance. The expense for
amortizing the premium and previously deferred pension costs will be
approximately $4.5 million per year. In addition the Company will begin
recognizing in current operations its annual net periodic pension cost.
When the rate order becomes effective, customers will begin paying a monthly
customer service charge. This base charge should help reduce the weather-
related variability of earnings.
The Company's last rate increase was in 1985. The new rates, including the
service charge, will go into effect on December 2, 1994. The Company has
filed a notice of filing another rate application before year's end.
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SIGNATURE
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, on this 29th day of November, 1994.
ONEOK Inc.
By: (J. D. NEAL)
J. D. Neal
Vice President, Chief
Financial Officer, and
Treasurer
