OGE Energy Profile
OGE Energy Corp. (OGE Energy) operates as a holding company whose primary investment provides electricity in Oklahoma and western Arkansas.
OGE Energy's electric company operations are conducted through its wholly-owned subsidiary, Oklahoma Gas and Electric Company (OG&E), which generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas; and are reported through OGE Energy's electric company business segment. OG&E's rates are subject to regulation by the OCC, the APSC and the FERC.
OG&E is the largest electric company in Oklahoma, with a franchised service territory that includes Fort Smith, Arkansas and the surrounding communities. OG&E sold its retail natural gas business in 1928 and is no longer engaged in the natural gas distribution business.
Strategy
OGE Energy is focused on delivering top-quartile safety results, while enabling members to deliver improved value to their communities, customers and shareholders; transforming the customer experience by centering decisions on customer impact, which drives customer operations, communications, programs, product development, and the digital experience, including increased personalization and self-service; providing safe, reliable energy to the communities and customers it serves, with a particular focus on enhancing the value of the grid by improving reliability and resiliency; leading economic development and job growth by attracting new and diverse businesses to improve the infrastructure of the communities it serves in Oklahoma and Arkansas; ensuring the necessary mix of generation resources to meet the long-term capacity needs of its customers, with a progressively modernized generation portfolio; maintaining customer rates that are some of the lowest rates in the country by continuing to focus on innovation, intellectual curiosity and execution with excellence; fostering strong regulatory and legislative relationships, built on integrity, for the long-term benefit of the company’s customers, communities, shareholders and members; and developing and growing its members to be able to provide a greater contribution to the company's success, while also improving their own lives.
OGE Energy is focused on creating long-term shareholder value by targeting the consistent growth of consolidated earnings per share of five to seven percent, supported by strong load growth enabled by low customer rates and a strategy of investing in lower risk infrastructure projects that improve the economic vitality of the communities it serves in Oklahoma and Arkansas.
Electric Operations - OG&E
OG&E provides retail electric service to approximately 896,000 customers in Oklahoma and western Arkansas throughout a service area that covers 30,000 square miles, including Oklahoma City, the largest city in Oklahoma, Fort Smith, Arkansas, the third largest city in that state, and other large communities with their contiguous rural and suburban areas. OG&E derived 91 percent of its total electric operating revenues in 2023 from sales in Oklahoma and the remainder from sales in Arkansas. OG&E does not serve wholesale customers in either state.
In 2023, OG&E's system control area peak demand was 7,384 MWs on August 21, 2023, and OG&E's load responsibility peak demand was 6,573 MWs on August 21, 2023.
OG&E owns and operates an interconnected electric generation, transmission and distribution system, located in Oklahoma and western Arkansas, which included 17 generating stations with an aggregate capability of 7,116 MWs as of December 31, 2023.
In 2023, OG&E retired unit 6 located at the Horseshoe Lake station.
Regulation
OG&E's retail electric tariffs are regulated by the Oklahoma Corporation Commission (OCC) in Oklahoma and by the Arkansas Public Service Commission (APSC) in Arkansas. The issuance of certain securities by OG&E is also regulated by the OCC and the APSC. OG&E's transmission activities, short-term borrowing authorization and accounting practices are subject to the jurisdiction of the Federal Energy Regulatory Commission (FERC). The Secretary of the U.S. Department of Energy has jurisdiction over some of OG&E's facilities and operations.
History
OGE Energy Corp. was founded in 1902. The company was incorporated in 1995 in the state of Oklahoma.
