§ 250. Terms defined
Oklahoma Statutes AnnotatedTitle 17. Corporation CommissionEffective: April 22, 2024
Effective: April 22, 2024
17 Okl.St.Ann. § 250
§ 250. Terms defined
As used in this act:1
4. “Fair field price” means the value attributed to gas produced from wells owned by a public utility, or a subsidiary or affiliate of a public utility, which shall be the going price paid by the utility, subsidiary or affiliate to others in the field where such production is located. If the utility, subsidiary or affiliate is not purchasing gas in such field, then such value shall be the price paid by the utility, subsidiary or affiliate in the nearest field where conditions are similar. The value to be attributed to residue gas owned by a public utility, or a subsidiary or affiliate of a public utility, from gas processing plants shall be the going price paid by the utility, subsidiary or affiliate to others from the same plant. If the utility, subsidiary or affiliate is not purchasing gas from said plant, then the value shall be the price paid by the utility, subsidiary or affiliate at the nearest plant where conditions are similar. However, the Commission may require an adjustment of the fair field price when it deems it proper to do so based on information before it. The fair field price shall not be applicable to gas purchased by a public utility from a subsidiary or affiliate of a public utility pursuant to a competitive bid process;
5. “Fuel adjustment clause” means any mechanism which allows a public utility or electric generating cooperative to automatically adjust its charges above or below the base amount included in its rates, based upon changes in costs of fuel for generation of electricity, purchased power or purchased gas;
b. transmitting, directly or indirectly, or distributing combustible hydrocarbon natural or synthetic natural gas for sale to the public or for wholesale, unless its wholesale rates are regulated by a federal agency, provided that such term shall not include entities as described by the provisions of paragraph 2 of subsection B of Section 151 of this title; and
Credits
Laws 1977, c. 252, § 1, emerg. eff. June 15, 1977; Laws 2004, c. 410, § 1, emerg. eff. June 3, 2004; Laws 2024, c. 67, § 4, emerg. eff. April 22, 2024.
Footnotes
Title 17, § 250 et seq.
17 Okl. St. Ann. § 250, OK ST T. 17 § 250
Current with emergency effective legislation through Chapter 277 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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