{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-9054","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-9054","heading":"Application for determination and approval","body":"A. In the event an unregulated utility opts for financing\n\npursuant to this act, the unregulated utility shall submit to the\n\nOklahoma Development Finance Authority an application for\n\ndetermination and approval of qualified costs as defined in this\n\nact. The Authority, with assistance from the Public Utility\n\nDivision of the Oklahoma Corporation Commission pursuant to\n\nsubsection C of this section, shall determine the qualified costs an\n\nunregulated utility actually and lawfully incurred and that were\n\ndirectly related to the extreme weather experienced in February\n\n2021.\n\nB. The Authority may develop procedures to receive and review\n\napplications for the establishment of qualified costs; provided, the\n\napplication shall require but not be limited to:\n\n1. The amount of extreme purchase costs and extraordinary costs\n\nrequested for recovery;\n\n2. Whether the unregulated utility is requesting a loan for all\n\nor a portion of the extreme purchase costs and extraordinary costs\n\neligible for recovery;\n\n3. Estimated amounts of cost savings from or demonstration of\n\nhow utility bill impact to customers would be mitigated by receiving\n\na loan for the eligible extreme purchase costs and extraordinary\n\ncosts, in comparison with traditional financing or any other utility\n\nrecovery methods; and\n\n4. Any other information or documentation required by the\n\nAuthority to effectuate this act.\n\nAfter the Authority receives an application pursuant to subsection A\n\nof this section, a copy of the application shall be transmitted to\n\nthe Commission for administrative review pursuant to subsection C of\n\nthis section.\n\nC. 1. The Commission is hereby authorized, for the limited\n\npurposes of this act, to receive an application by an unregulated\n\nutility for administrative review of extreme purchase costs and\n\nextraordinary costs to be recovered through the issuance of loans by\n\nthe Authority. In determining the amount of costs to be recovered,\n\nthe Commission shall audit these amounts requested to ensure they\n\nmeet the definition of extreme purchase costs and extraordinary\n\ncosts, were actually incurred, were paid or are payable and would be\n\nrecovered from customers in the normal course of business.\n\n2. Once the Commission has completed administrative review of\n\nthe costs to be recovered, a written copy of the findings of the\n\nreview shall be transmitted to the Authority.\n\nD. After receiving the findings of the administrative review\n\nconducted by the Corporation Commission pursuant to subsection C of\n\nthis section, the Authority shall issue a written approval or\n\ndisapproval of the application to the Authority quantifying the\n\napproved or disapproved qualified costs. A copy of the written\n\napproval or disapproval of the application shall be provided to the\n\nGovernor, the President Pro Tempore of the Senate and the Speaker of\n\nthe House of Representatives on the same date the approval or\n\ndisapproval is issued by the Authority.\n\nE. In the event the Authority rejects an application for\n\nfailure to provide sufficient information to make a determination of\n\nqualified costs, it shall provide the reasons for rejection to the\n\nunregulated utility and the unregulated utility may then modify and\n\nresubmit the application to the Authority with the necessary\n\ndocuments and information. The Authority shall then transmit a copy\n\nof the resubmitted application to the Commission for administrative\n\nreview pursuant to subsection C of this section.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ec192612b64aefd48d09283821d3a0e7136442c2f24541cf9ea099ab1586f1c0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-9053","next":"us-ok/okla.-stat.-tit.-74-74-9055"},"notice":"GroundRules: Original legal text. Not legal advice."}