Okla. Stat. tit. 74 § 9052

Current through Laws 2024, c. 453.

Section 9052 - Definitions

As used in this act:

1. "Authority" shall mean the Oklahoma Development Finance Authority pursuant to Section 5062.1 et seq. of Title 74 of the Oklahoma Statutes;

2. "Extraordinary costs" shall mean costs incurred by an unregulated utility related to the extreme weather that occurred beginning February 7, 2021, and ending February 21, 2021, including but not limited to fuel-related storage and associated costs, emergency compressed or liquified natural gas supplies, contracts for services providing additional pressurization on lines and transportation pipeline penalties. Extraordinary costs shall not include extreme purchase costs, as defined in this section;

3. "Extreme purchase costs" shall mean expenses incurred for the purchase of fuel, purchased power, natural gas commodity or any combination thereof, whether at spot pricing, index pricing or otherwise with delivery from February 7, 2021, through February 21, 2021;

4. "Qualified costs" shall mean the extreme purchase costs and extraordinary costs, as calculated and set out by the Oklahoma Development Finance Authority following a review of a loan application of an unregulated utility submitted pursuant to this act, less any insurance proceeds, governmental grants or other funding sources;

5. "Unregulated utility" shall mean any utility, as defined in this act, doing business in this state, or any public trust designated for the benefit of a utility or municipality, which is not a regulated utility subject to the regulatory jurisdiction of the Oklahoma Corporation Commission with respect to its rates, charges and terms and conditions of service;

6. "Utility" shall mean any person or entity doing business in this state that furnishes natural gas or electric current to its customers or members located at an address in this state and within the service area of the utility;

7. "Utility revenue bond" shall mean any bond, revenue bond, notes or other evidence of obligations of the Oklahoma Development Finance Authority issued by the Authority pursuant to this act including, but not limited to, bond anticipation notes and refunding bonds, for the purpose set forth in this act; and

8. "Unregulated Utility Consumer Protection Fund" shall mean the fund created pursuant to Section 7 of this act.

Okla. Stat. tit. 74, § 9052

Added by Laws 2021 , c. 203, s. 3, eff. 4/23/2021.