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Posted: Friday, 20 December 2013 4:25AM

Kansas Commission Approves Proposed Oneok Split



TOPEKA, Kan. - Kansas regulators have approved a settlement that allows Oklahoma natural gas company Oneok Inc. to spin off its utility operations but imposes a freeze on its rates through 2016. The settlement approved Thursday by the Kansas Corporation Commission also will provide rebates totaling $3.4 million each of the next three years to 630,000 customers of Oneok subsidiary Kansas Gas Service. Customers will receive a $5.34 credit on their bills in April 2014, 2015 and 2016. With the settlement, there was no opposition to the company's plan.
 
A new company, One Gas, would take over Oneok's gas distribution systems in Oklahoma, Kansas and Texas, with 2 million customers. The remainder of Oneok would keep the company name and operate its other energy businesses.  Oneok's board still must approve the plan.

AP News
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Topics : Business_Finance
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Locations : KansasOklahomaTexasTopeka
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12/20/2013 4:30AM
Kansas Commission Approves Proposed Oneok Split
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