OGE Energy Wins Approval for 448-Megawatt Gas Turbine Expansion

Reuters11-17
OGE Energy Wins Approval for 448-Megawatt Gas Turbine Expansion

OGE Energy Corporation announced that its subsidiary, Oklahoma Gas and Electric Company (OG&E), has received pre-approval from the Oklahoma Corporation Commission to construct two new natural gas combustion turbines at its Horseshoe Lake facility. The units, with a combined capacity of 448 megawatts, are scheduled to go into service by the end of 2029. The Commission approved cost recovery for the new units once they are operational, as well as two related Capacity Purchase Agreements, but did not approve the use of Construction Work in Progress or a return on the agreements. OGE Energy has updated its five-year capital plan and extended it through 2030 to reflect these investments, which will be financed with a mix of debt and equity to maintain strong credit ratings.

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