Oklahoma Corporation Commission Regulation
Recently, members have inquired as to why their cooperative is not regulated by the Oklahoma Corporation Commission. Although we do follow the Oklahoma Corporation Commission General Service Rules and file our rate tariffs with them, we are not regulated by them.
The following includes the events that led to the exemption of East Central Oklahoma Electric Cooperative from Oklahoma Corporation Commission regulation in 2004 and steps members may take to place the cooperative back under Oklahoma Corporation Commission regulation.
In May of 2004 the board of trustees requested the cooperative allow the membership to vote on exempting East Central Electric from regulation by the Oklahoma Corporation Commission. Read the May 2004 Country Living newsletter article here.
The June 2004 Country Living newsletter gave more information on the matter and included instructions about the voting procedure. Read the June 2004 Country Living newsletter here.
Read the Q & A provided to the membership here.
The vote to approve exemption of East Central Oklahoma Electric Cooperative from regulation by the Oklahoma Corporation Commission was approved and finalized at the 2004 Annual Meeting of Members. Read about it in the September 2004 Country Living newsletter here.
For more information about the Oklahoma Corporation Commission visit https://oklahoma.gov/occ.html
Steps to petition for East Central Oklahoma Electric Cooperative to be placed under Oklahoma Corporation Commission regulation:
Oklahoma Statute regarding Oklahoma Corporation Commission
Step 1 - 5% of Members would sign and submit to the Cooperative an initiative petition in paper form to place the Cooperative under the Oklahoma Corporation Commission regulation.
Step 2 - The Cooperative will tentatively establish a date for a member meeting to present the petition for vote by the members approximately 180 days from the date the petition is returned.
Step 3 - The Cooperative would validate the member signatures to determine if the 5% minimum is confirmed.
Step 4 – If the petition is confirmed, the Cooperative will confirm the member meeting date for voting on the petition, and will deliver notice of this meeting with a ballot between 21 and 45 days prior to the meeting.
Step 5 – If the Cooperative mails information about the proposition for regulation other than the notice of the election and ballot, the cooperative shall include in such mailing any information submitted by petition signed by not less than 1% of the Cooperative’s members.
Step 6 - The members will be allowed to vote by delivering their ballots either in person at the member meeting or by mail.
Step 7 - The 5% quorum will be counted from both those attending and delivering their ballots in person and the mail ballots received.
Step 8 – A simple majority of votes in favor of regulation is required for approval. Upon approval, the Cooperative will notify the Oklahoma Corporation Commission of the approval within 10 days.
Source: 17 Oklahoma Statute §158.27(E)(1-4)