Credit Oklahoma Department of Transportation
State lawmakers say they are filing legislation to guard against massive utility bills in the wake of winter storms that put Oklahoma in the deep freeze in February.
Sen. James Leewright (R-Bristow) said the measures will set up a process for utility companies to package and sell off their debt from spiking natural gas costs, limiting how much of the impact can be passed along to consumers. If we do nothing . families, seniors on fixed incomes, single working families could be strapped with bills they struggle to pay, leaving them to choose between paying for necessities or paying the electric and gas bill. Businesses still reeling from the effects of the pandemic could be forced to make cutbacks, layoffs to pay off these high utility bills, Leewright said. Both of these scenarios will have rippling scenarios throughout our economy.